1. My name is Garrett Mullenax, and I am a Junior at the University of Florida. I love to play soccer and do anything that keeps me healthy and fit. After college, I aspire to work in the advertising and marketing industry. My peers would tell you that if something interests me I obsess over it until it is perfect or I lose interest. This business idea does interest me and if I had the money and time to start it, I would want to do it well and make it my sole priority.
2. The product I am offering people has not changed from my last idea napkin. I am offering a product that easily cleans your shoes,
specifically white ones. The product does all of the work for you, and
just requires wiping away after a few minutes. The fact is this type of
shoe gets very dirty and there is no great solution to this problem.
People struggle to clean them, or in general to not want to take the
time to clean them. These are the problems this product is solving. Based on the market we are targeting, the product must be reasonably priced and do what it is expected to do.
3. The people we are target are pretty specific. Being too general with the target market could potentially tank the company. We are targeting younger people, aged 16-24, who go to school, college, or just recently graduated. These people are on trend and like to stay that way. They go out often to bars, clubs, parties, darties, and kick-backs. They do not have magical bank accounts that let them spend however much on anything they want. These people like to spend, but within reason to their other priorities.
4. These people care because they care about their image. This group has a lot of friends and are constantly meeting new people. They want to look the best. Nice shoes are on trend, hence why they would like to have nice shoes. Also, this group does not have the means to buy new shoes all the time. This product will allow them to always look their best without breaking the bank.
5. This target market is a lot like everyone else, but also not like everyone else. They put the time and effort in to look good and keep their things nice. They do not have the funds like others to buy new shoes all of the time. Also, they are different from the crowd that is happy looking like slobs and treating their things poorly. My competency is that I know these people. These people are my friends, and I may be a little like them. I know what they are like and what they want and I can give it to them.
6. I may be overconfident, but I believe that these elements all work together. These are real people with a real problem. Not some fantasy or made up group or problem. Also, the target segment is just specific enough without being too generalized. Nothing seems disjointed to me, it all flows.
7. There are two sets of feedback I have received that I have implemented into this new idea napkin. The first being that the product must be reasonably priced for this group. They do not have unlimited funds so the product must be worth their money. The second being that the segment must be specific and narrow. I should not try to cater towards other groups, I should stay narrow and I will succeed.
Garrett, I do think it is great to be specific with your age group, but I also feel that you can expand the age group. I recently went to Raleigh, NC, to visit family and friends. When we went out to a nice restaurant, I saw many guys that were between 28 -30 years old, young professionals, wearing Nike and Adidas white tennis shoes. They said postgraduate students want comfort and to dress stylishly and felt that wearing white tennis shoes will always be a classic. You may wish to market in northern states where it’s colder because they don’t wear sandals yet. After all, it is too cold!
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