My venture concept is a product that will revolutionize how we heat our homes. My heaters will contain motion sensors so they know exactly when to turn on and off based on whether the room is occupied. This product will mainly be used by people who live in cold places where heat is needed during the winter months. This product is perfect for homeowners who pay their utilities bill. People will want this product for several reasons. It eliminates the annoyance of remembering to turn your radiators on and off. I was in this bothersome situation when I got the idea for this product. This product is extremely efficient, so it will also reduce costs on utilities bills because people will not be using excess heating. Additionally, the efficient aspect is much better for the environment in terms of energy conservation. This product uses advanced technology to save money and keep people happy and warm!
Based on the feedback I have received this semester, I realized that it may be smarter to focus on the B2B market instead of the B2C market as I had originally intended. I might find more success by selling this product to contractors and creating partnerships with companies that are in need of efficient heaters. I could get into contact with home appliance stores and other salespeople specializing in air conditioning and heating. One commenter added that I might be able to break into the room insulation industry with this product as well. That is a great idea. It is also clear from my feedback that I need to have some grasp on how much money this product will actually save the consumers before I make it available to the public. I can’t sell this product on false promises, and in order to get the data I need, I will have to go through an extensive testing period. This feedback has pushed me in the right direction, and, above all, I think I now understand the full potential of my product. There are a lot of different directions this product could go that I hadn’t originally considered. This is an idea that I continue to be excited about.
Hi Molly! Great job! It seems like you have made some good changes to your venture concept. I like how you have taken the feedback received and gave it more thought and it seems like you have the right idea of what needed improvement.
ReplyDeleteHi Molly,
ReplyDeleteIt is great to see that you took the feedback to heart. I wish you would have listed some of the directions your product could go in. I can see that you have continued to showcase your product in an appealing light. Great work on your post.
Hey Molly! I think your adjustments to your venture concepts were great. It was cool that you were able to take everyone's comments as well as your ideas to venture towards a B2B concept. I think that is one of the coolest parts of this class, to be able to transform your idea over time. Great post!
ReplyDeleteHi Molly. I think you are on the right track with your idea. I do believe you could move your product further taking the B2B route. Although, you will always have consumers willing to purchase your product, by forming partnerships with other businesses to use your product, you will get it into more homes faster. Great adjustmennt!
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