In order to further run tests on my hypothesis concerning my opportunity I have conducted interviews that help to illustrate the need of the service/solution and what people believe this product/service is.
Who: Individuals of above average wealth and those who maintain steady and financially gifted jobs.
What: They are unaware of the benefits of electric cars and are uninformed of what similarities they can share with gas powered vehicles.
Why: Current means of informing the public are limited and vehicles seem to be only advertised toward those who seek them out. Many people are unaware including most families of reasonable income.
When interviewing the families and individuals this most pertains too I found a considerable amount of people who recognized the need for the vehicles as the age of gas powered vehicles decreases. I also found that they needed as much information concerning the vehicles as possible due to a limited amount of understanding and knowledge of them. I further helped them understand and found a large correlation of people who misunderstood the overall definition of what gas powered meant.
Inside the Boundary:
Who is in: Those of reasonably considerable wealth who are able to lease of finance the vehicles entirely
What the need is: A growing idea of what social, economical, and environmental benefits arise upon the growing demand for the product
Why the need exists: Many are feeling the constraints of gas prices and the growing decline of the environment due to emission levels. Also a desire for saving and practicality.
Outside the Boundary:
Who is not: Those of considerably low wealth who are unable to afford the product
What the Need is Not: A means of purchasing an electric vehicle nor a benefit for opposing sellers.
Alternative Explanation: Any and all individuals and company not attuned toward progressive measures.
Overall my findings helped to show an increasing amount of support for the proposed solution and helped govern a method toward pursuing the solution in a more practical and efficient manner.
Hi Arthur,
ReplyDeleteYou put low income families outside of the boundary which made wonder that if the cars were sold at lower average prices, maybe they WOULD be more popular. Not everyone is ignorant to their benefits, but it may just be that cost does not live up to those benefits. Sure, they would not have to pay for the fluctuating gas prices but they just cannot afford the car and the maintenance that comes with them.
Hi Arthur!
ReplyDeleteAmazing job on this post! You did great analysis on your market which lets me understand the need that your product fulfills on a deeper level with a more specific market. Understanding who/what your product does not serve also allows me to remove misconceptions that I would have had about your market and product!
Great job on this post.
Olivia