24A – Venture Concept No. 1
Opportunity:
Who requires the need for blue tooth wireless headphones are highschool to college students; generation z and millennials (but limited to). The nature of the need is to obtain a pair of Bluetooth headphones that don’t cause you the trouble of having to disconnect and reconnect to every device. The forces and changes that are creating this opportunity are advancing technology people may not see this need until it is brought to their attention because at the moment, there is no real solution to it. The market is defined geographically and demographically would be people in the middle to upper class in which this product would be on the pricier side. Customers are currently satisfied with this need because they don’t have any other solution than to deal with it; I don’t believe they would be loyal if a better and more advanced product was put in front of them. This opportunity is huge and has the chance to lead the Bluetooth industry in this advanced technology. I would believe this “window of opportunity” is short because eventually someone will think of this idea and take a chance on it. Technology is always advancing and changing.
Innovation:My innovation is Bluetooth wireless headphones that allow you to connect to two or more devices at once. You can now be connected to multiple devices at once without the hassle of reconnecting. You connect them once, and the headphones remember devices and automatically do what you don’t want to do. Although I know what it is I’m selling, I do not know how much I would sell it for as I don’t know how much it would even cost to make this product. Possible 150$ like AirPods, but possibly cheaper because Apple is selling you the brand.
Venture concept:
Costumers will switch to this product because it will save them the trouble of having to disconnect and reconnect to every device, making it easier for them. It will, although, get them to switch to the more prominent brands like Apple’s AirPods. Apple would be one of my biggest competitors, there possible weaknesses that I use to my advantage would be people that don’t like apple products (to start there). Packaging, your price points, distribution, and customer support is vital to the customer experience to make sure they come back for future products. To organize a business, I would get a warehouse to produce bigger and better products and long with growing my employees as I grow.
The three minor elements:
My most valuable resource would be creating my brand. My goal would be to create a brand that everyone is attracted to. My next venture would be a newer version of my headphones. In five years, I would have created this successful product/service and be about to launch it or have just recently launched it. I want this business idea to be a place for me to learn from my mistakes and grow as an entrepreneur.
Who requires the need for blue tooth wireless headphones are highschool to college students; generation z and millennials (but limited to). The nature of the need is to obtain a pair of Bluetooth headphones that don’t cause you the trouble of having to disconnect and reconnect to every device. The forces and changes that are creating this opportunity are advancing technology people may not see this need until it is brought to their attention because at the moment, there is no real solution to it. The market is defined geographically and demographically would be people in the middle to upper class in which this product would be on the pricier side. Customers are currently satisfied with this need because they don’t have any other solution than to deal with it; I don’t believe they would be loyal if a better and more advanced product was put in front of them. This opportunity is huge and has the chance to lead the Bluetooth industry in this advanced technology. I would believe this “window of opportunity” is short because eventually someone will think of this idea and take a chance on it. Technology is always advancing and changing.
Innovation:My innovation is Bluetooth wireless headphones that allow you to connect to two or more devices at once. You can now be connected to multiple devices at once without the hassle of reconnecting. You connect them once, and the headphones remember devices and automatically do what you don’t want to do. Although I know what it is I’m selling, I do not know how much I would sell it for as I don’t know how much it would even cost to make this product. Possible 150$ like AirPods, but possibly cheaper because Apple is selling you the brand.
Venture concept:
Costumers will switch to this product because it will save them the trouble of having to disconnect and reconnect to every device, making it easier for them. It will, although, get them to switch to the more prominent brands like Apple’s AirPods. Apple would be one of my biggest competitors, there possible weaknesses that I use to my advantage would be people that don’t like apple products (to start there). Packaging, your price points, distribution, and customer support is vital to the customer experience to make sure they come back for future products. To organize a business, I would get a warehouse to produce bigger and better products and long with growing my employees as I grow.
The three minor elements:
My most valuable resource would be creating my brand. My goal would be to create a brand that everyone is attracted to. My next venture would be a newer version of my headphones. In five years, I would have created this successful product/service and be about to launch it or have just recently launched it. I want this business idea to be a place for me to learn from my mistakes and grow as an entrepreneur.
Hey Savannah I love your concept. I think it is so annoying how you have to always reconnect you headphones to devices if you switch them form one device to another like Airpods. However, I do think you will have a stiff challenge to get people to switch their loyalties from brands like Apple who nearly make it impossible to switch from their products.
ReplyDeleteHey Savannah, I would definitely expand into other bluetooth products, especially if your new bluetooth code source is more reliable hooking up and disconnecting. Phones in general, cars audio players, watches, the list goes on and on. A lot of appliances are bluetooth as well, so that could be a whole other avenue for marketing your product. Bluetooth will be a never ending line of technology until the next platform comes along, get it while you can.
ReplyDeleteHey Savannah,
ReplyDeleteI really like your idea, as it involves an issue that I experience every single day. I always have the problem of listening to music on my phone, and then soon wanting to use my Airpods to listen to lectures on my laptop. So I agree that a new bluetooth device could be beneficial for most people, the only roadblock I see is competing against Apple.
Hello Sav,
ReplyDeleteI really enjoyed the way your blog post and website are setup its very visually appealing. I agree there is definitely an opportunity for your product in today's market of AirPods a many other competitive bluetooth ear bud devices. I think this is a very competitive market which I don't see you being able to make amore effective product than an apple or beats product.
Hey Savannah,
ReplyDeleteAs I've said before, I really like your product idea. This was a great post to read and you really hit the nail on the head with your concept. I think it was very smart of you to mention your competition and ways that you may get around competing against such a big brand. Maybe you can find some cooler headphone qualities that Apple does not currently possess to grab a large share of the market when you first enter.
Great job!
Savannah,
ReplyDeleteI like your product concept! As someone who is constantly utilizing and becoming equipped with the latest technology, I would certainly buy your product. It would be so helpful to charge your phone and listen to music through wireless headphones, for example. Also, you recognize the importance of running with an idea before someone else gets the chance to, which shows your determination!
Hi Savannah! Your venture concept really helped me understand the specifics of your company and how you there is a current opportunity for it. While it’s important to understand the opportunity, it also very important to make sure that same opportunity will still be available I’m the future. By making long term goals, you are actively trying to prolong your product and exploit it to its highest ability. Great job!
ReplyDeleteHey Savannah,
ReplyDeleteI really enjoyed reading your post. I love your product idea and think it is a very sought out technology that consumers were love. I personally would love this product because I am always having to disconnect and reconnect my bluetooth devices from my computer and phone, along with others who utilize my devices. Really good post, again love the idea.
Hello, excellent post! I believe that it is necessary to know what you are selling, who you are selling to, and what exactly it is that you are selling. If you are not aware of these things then you could potentially targeting the wrong markets, or segment of individuals. I believe who highlighted all these elements. More so, I feel as though if you invest yourself in your brand then you will succeed. Overall, great job!
ReplyDeleteSavannah,
ReplyDeleteI really like your concept. When reading through it, I found that there is another market that I have been seeing that you could attempt to reach. Especially with everything going on right now, people on the news are coming on to speak from their homes, additionally, businesses are running all their meetings online. All of these people use bluetooth wireless headphones. Also, in professional offices I believe many people are wearing headphones all day long. Having a feature that can allow them to connect to their phone and computer would be extremely valuable to them as well. Nice work!
Savannah,
ReplyDeleteI thoroughly enjoyed reading this post. I can sympathize with you on the markup consumers experience with premium products like Apple's offerings. I once read that Apple sells iPhones at a 200-300% margin, so I can only imagine what it is with airpods. I suspect as you conduct further analysis, you may be surprised at just how cheap it can be to manufacture quality audio products if you have the right suppliers. I also agree that the convenience factor with your product presents a strong case for consumer adoption, and you should market this to the fullest extent. Thanks for posting!