Some characteristics and descriptions I would use to begin describing the customer avatar for my product would be a person who's grown up or lived near or around a body of water. More specifically, my customer will most likely be a boat owner. Since I would consider my product more of a specialty item, I believe people who own or are knowledgeable about boats will understand and appreciate the applications my product offers. My customer 's hobbies are being outdoors, fishing, waterspouts, or just family activities. This customer could be like my father and only really go on the boat if its with my brothers or I. Mainly just to spend time with rather than an actual passion for being out the there. Then you have the customer avatar that is a hardcore fisherman or outdoorsman. These customers are the ones who want nothing more than to be out on the water whenever they can. Their hobbies may include fishing, hunting, water skiing, wake boarding, jet skiing, sports, sporting events, concerts and many more. The car may vary on the customer but if you were to need to trailer a boat from your home or elsewhere, you would need a truck or larger SUV depending on the size of the boat. Some of the TV shows they might watch are ESPN, CNN, Fox, Outdoor Channel, MSNBC and a few others. For the most part, I would say that majority of my potential customers will have children. I would describe that they are at a later and more mature stage in their lives. They are more concerned with their children's future or they could be in the early stages of parenthood. These customers are buying my product for the convenience factor that allows them to stress less and spend more genuine time with their family.
I feel I actually have a lot in common with the customer avatar I have created. In a way, the customer avatar seems to concerned with similar things my father is. He's concerned for the well being of his family over anything else then the priorities fall into place. The customer avatar is someone who understands the quality and integrity of the product and hopefully will see the true value. At the end of he day, you must provide or offer some kind of value to customers. This product does that. I do not think it is a coincidence that the customer avatar could be relatable to my father because he would fall within the target market and would definitely purchase the product.
Thursday, October 26, 2017
Idea Napkin #2
I'm the type of person who excels when under pressure. Im the type of person who works well with others and knows how to manage a group a people towards a common goal. I would say that is one of my most positive qualities. My ability to work with others and lead if they needed. I feel this product has endless possibilities if put in right hands. All it takes is one person or moment for anything to make off or blow up. If this business becomes successful like I know it is capable of, it consume an extremely large part of my life. Since I's so young and don't have a family to support yet, this is what I want. Upon graduation, that is the time you grind and let work consume your life. These years after graduation are the most crucial and set you up for the rest if your career.
The product I am offering to customers is called EasyTow. The name is not final yet but that is what we have decided so far. The product simplifies the process and exterminates the need for normal wakeboard/ waterski rope that is very prone to accidents and mishaps. For the longest time throughout my childhood, I can recall countless times that I've been on a boat and the rope has gotten tangled or caught in the propeller. My product holds the rope in an organized manner and is capable of deploying and retracting the rope depending on the activity of the preference of the skier. The type of person I am offering this to would be described as a boat owner or someone who is interested in boating. I would say the average or typical customer is somewhere in his 30 or 40's and has a family. There are several reason why they care about the product. The product saves them time, stress, and in the end, money. My product keeps the rope from tangling while adjusting is as simply as ever. Lastly, it protects your motor and propeller from potentially thousands dollars worth of damage. I would say a few things set us apart from others but there is not another company that I know of that are doing what we are doing. One of the current advantages we have is no other companies breathing down our neck trying to copy our product. We have an innovative product that has a lot of possibilities for success.
The product I am offering to customers is called EasyTow. The name is not final yet but that is what we have decided so far. The product simplifies the process and exterminates the need for normal wakeboard/ waterski rope that is very prone to accidents and mishaps. For the longest time throughout my childhood, I can recall countless times that I've been on a boat and the rope has gotten tangled or caught in the propeller. My product holds the rope in an organized manner and is capable of deploying and retracting the rope depending on the activity of the preference of the skier. The type of person I am offering this to would be described as a boat owner or someone who is interested in boating. I would say the average or typical customer is somewhere in his 30 or 40's and has a family. There are several reason why they care about the product. The product saves them time, stress, and in the end, money. My product keeps the rope from tangling while adjusting is as simply as ever. Lastly, it protects your motor and propeller from potentially thousands dollars worth of damage. I would say a few things set us apart from others but there is not another company that I know of that are doing what we are doing. One of the current advantages we have is no other companies breathing down our neck trying to copy our product. We have an innovative product that has a lot of possibilities for success.
Friday, October 20, 2017
What's Your Secret Sauce?
I believe there are definitely a few ways that aid in my human capital being truly unique. I thinking of why best traits is my ability to get along and connect with people on a human level. I always try and be genuine in moments where my character is tested. It might sounds cliche but doing the right thing is always the right thing and being loving and caring towards people always comes back ten fold. That is one of the lessons I have learned from my mentors over there years which people remember the small and gracious acts of a person. Another way I think my human capital is unique is how I am able to handle certain situations. I am a person that is calm and collected and it takes a lot for me to lash out and express my opinions. I think that is one of my favorite attributes because while everyone around me is panicking or worried about a situation, I sit back and analyze it before I make any rash decisions. I believe this skill will come in very handy later in life when business deals and contracts are on line. I will be able to decide and determine whether it is the right move or not. Another way my human capital is unique how well rounded I feel I am. Usually, my friends and I talk about random subject and do a lot of random activities but I always felt like I had a natural act for several things. Whether is was a sport, game, or contest, I always felt competitive in whatever we were doing. One of the last things that help make my human capital unique is my level of humility. I believe being humble is one the most attractive qualities a person can have. Being humble about my past accomplishments and future endeavors has allowed me stay focused and determined on the goals I am currently focused on. It allows me to be as productive as possible during the most crucial times.
Wednesday, October 11, 2017
Figuring Out Buyer Behavior #2
In a setting where customers have a set of alternatives, that increases the level of difficulty when trying to sell to a targeted consumer. Customers look for many characteristics when evaluating products but one of the the most important things consumers look for is the quality and design of the product. When purchasing an expensive product, the consumer wants to buy something that can be trusted and will last a life time. That seemed to be the most important things consumers look for based off my interviews but they're are definitely more than one factor that is important to your customer segment. I would say the next aspect of the product they are concerned with is the price of the product, the price of the product has the capability to be the deal breaker on many transaction opportunities.
For a product like mine, if a consumer has not seen it in person, they wanted to visit the store and examine the product for themselves. However, if the consumer saw it being used or came into contact with it somewhere, they would have no problem ordering it online. Considering my product is in the one hundred to two hundred price range, the potential consumers said they would have no problem paying for with cash or debit card. If this product reached commercial application like I think it is capable of, the people involved with the purchasing decision would be the business owners or managers and the sales representatives of our company.
To summarize, the potential consumers I interviewed has similar thoughts for most of the topics being discussed. They seemed to care about the quality of the product the most and wouldn't mine ordering it online as long as they had seen it in person prior. As far as paying for the product, the consumers had no issue with paying with cash or debit card at the time of the transaction.
This segment is interesting because though out the duration of developing this product, I have not considered some of the questions being asked in the assignment. This alternative evaluation segment opened my eyes to possibilities beyond just the development aspect.
For a product like mine, if a consumer has not seen it in person, they wanted to visit the store and examine the product for themselves. However, if the consumer saw it being used or came into contact with it somewhere, they would have no problem ordering it online. Considering my product is in the one hundred to two hundred price range, the potential consumers said they would have no problem paying for with cash or debit card. If this product reached commercial application like I think it is capable of, the people involved with the purchasing decision would be the business owners or managers and the sales representatives of our company.
To summarize, the potential consumers I interviewed has similar thoughts for most of the topics being discussed. They seemed to care about the quality of the product the most and wouldn't mine ordering it online as long as they had seen it in person prior. As far as paying for the product, the consumers had no issue with paying with cash or debit card at the time of the transaction.
This segment is interesting because though out the duration of developing this product, I have not considered some of the questions being asked in the assignment. This alternative evaluation segment opened my eyes to possibilities beyond just the development aspect.
Halfway Reflection
Tenaciousness is definitely a required competency for this course however there are several more that must be utilized in order to be successful in this class. One for the behaviors that I have removed from my arsenal is procrastination. If you wait till the last day to try and complete an assignment, you will realize that it is a lot more work than you thought. In order to ensure success on all the assignments, I would recommend starting them earlier in the week.
Though out the semester I have definitely had a few moments where I did give up on a few assignments. Looking back it now, I feel ashamed for doing that and very lazy. I know I am capable of competing all these assignments in a professional manner. I've changed my mindset towards this class to more of a job mentality and treat it professionally.
If I could offer three tips to students for the next semester. One, I would say to find a friend who is also taking the course so you can discuss problems each of you are having. Secondly, I would say to start the assignments on Monday or Tuesday of the week so it the people in your group ample time to peer review your work. The last tip I would give would be to not let the amount of work overwhelm you. It may seem a lot at first but just stay tenacious and you will have no problem succeeding in class.
Though out the semester I have definitely had a few moments where I did give up on a few assignments. Looking back it now, I feel ashamed for doing that and very lazy. I know I am capable of competing all these assignments in a professional manner. I've changed my mindset towards this class to more of a job mentality and treat it professionally.
If I could offer three tips to students for the next semester. One, I would say to find a friend who is also taking the course so you can discuss problems each of you are having. Secondly, I would say to start the assignments on Monday or Tuesday of the week so it the people in your group ample time to peer review your work. The last tip I would give would be to not let the amount of work overwhelm you. It may seem a lot at first but just stay tenacious and you will have no problem succeeding in class.
Reading Reflection #1
Several things about Steve Jobs surprised me but one of the things that stood out the most to me was how resilient the man was. Going from bankrupt to a billionaire sounds like quite the climb to success and after reading this, it sure was. The fact that so many people were trying to demote, refuse, or compete against him and still came out victories speaks volumes about his character. The thing that I admired most about Steve Jobs was his carelessness for others opinions and thoughts. Not in an ignorant way but more in a way that he didn't pay attention to the distracting noise of others that tried to derail him from his goals. One of the things I least admired about him was his disbelief in the education system. I think of you have the opportunity to gain a college education, you should do so by all means. There are so many people in this world who have no form of education and there are many people who will never get the chance to go to college. He could have gained some more solid insight or help from a professor at college that could have fast forwarded his success. Steve Jobs and Steve Wozniak faced plenty of adversity and failure throughout their quest to develop the first personal computer. One of the most profound setbacks was when Jobs was let go from his own company and over powered by the board executives at Apple.
Steve Jobs exhibited many competencies but some of the ones I noticed was resilience, determination, creativity, and ability to think beyond the scope of everyone around him. That is the main one that set him apart from every person around him, his ability to expand or improve any idea and make it something. He was a creator. In the book, it noted that early on in Job's life, he knew he was special or chosen. He had entrepreneurial behavior since a very young age.
If I had the blessing to be able to speak to Steve Jobs I would ask him more personal questions to try and gain insight on how he thinks of perceives the world around him. The first question I would ask is how were you able to think beyond the simple picture and put life into an opportunistic perspective? I want to know how he interacted with others and how he thought human interactions affect the world. The last question I would ask would be did you know from the moment of the idea of Apple, it was going to be one of the most innovative products ever?
Honestly, I think Steve Jobs was type of person who believed in working smarter rather than harder. I am in no way saying that Steve Jobs was not hard worker. I just believe that his opinion of hard work was to be doing something purposeful the entire time. Basically structured and a reason must be present in order for it to be productive.
Friday, October 6, 2017
Figuring Out Buyer Behavior
The segment I would pick is the water sports segment and not choose the more marine/ industrial route with this product. I believe that focusing on one segment will allow you to increase your chances of success in these very volatile markets.
Thankfully, my family is coming up for the LSU game so I will be able to interview my father, my uncle and my little brother who are boat owners and very experienced on boats.
The need awareness for this product was not prevalent at the beginning of the interview but towards the end it became clear to my family this product was revolutionary. They realized the importance of this product when they heard about how it can prevent so many accidents from happening.
They usually go online shopping for water sport ropes or online forums. There are often reviews on websites where people can post about their experiences with similar products. Surprisingly enough, people would rather ask someone close to them or someone they trust for this kind of information.
During the interviews I leaned a few knowledgeable things. The first thing is that people are unaware of these possibilities with technology in the industry. The next insight I gained was that people would use this device simply to protect their boat's engine propeller. One of the last great things that I learned was the things that boat owners look for a in a product is that it is trusted and works. Thats one the challenges we face as a company, to ensure this product works effectively all the time.
Thankfully, my family is coming up for the LSU game so I will be able to interview my father, my uncle and my little brother who are boat owners and very experienced on boats.
The need awareness for this product was not prevalent at the beginning of the interview but towards the end it became clear to my family this product was revolutionary. They realized the importance of this product when they heard about how it can prevent so many accidents from happening.
They usually go online shopping for water sport ropes or online forums. There are often reviews on websites where people can post about their experiences with similar products. Surprisingly enough, people would rather ask someone close to them or someone they trust for this kind of information.
During the interviews I leaned a few knowledgeable things. The first thing is that people are unaware of these possibilities with technology in the industry. The next insight I gained was that people would use this device simply to protect their boat's engine propeller. One of the last great things that I learned was the things that boat owners look for a in a product is that it is trusted and works. Thats one the challenges we face as a company, to ensure this product works effectively all the time.
Idea Napkin No. 1
I would describe myself as someone who excels at collaborating with others and being able to bring out people's strengths. I am someone who passionately enjoys being outdoors and out on any body of water. There is no where I would rather be than on a boat in the ocean surrounded by people you care about. There are endless possibilities of what can be done when out in the ocean. Throughout my whole life I have been involved in sports since kindergarten so I believe that this is one of the reasons why I am able to lead a group a people to a common goal. In any business, that skill is crucial. For this business concept, I have extremely high aspirations simply because of its innovation and convience factors. Considering my product is designed for marine use, I expect to be on the water involved with the development as we test it throughout different environments. I hope to also be involved in the yacht brokerage business to aid me into gaining traction in different commercial channels.
The product has yet to be named but we are currently testing the market with possible names. The product I am developing is self deploying and self retrieving rope device designed for all types of marine use. The product replaces the need for a traditional " water ski rope" or "bow/ stern rope". The product removes all the hassle involved dealing with ropes, knots, and anchoring when you are actually out on the water. One of my favorite and hopefully the most popular feature is that it will protect your engine propeller from a rope getting caught and causing thousands of dollars worth of damage. There will be three buttons on the top for deploy, retrieve, and lock. In order to ensure your time on the water is as enjoyable as possible, you don't want to be dealing with annoying knots, tangles, and literally retying everything just for one person to switch turns. With my product, all the stress is relieved. Simply bush a button to deploy the line, to bring in the line, and adjust the length to the skiers preference. I also see this technology expanding to commercial outlets but for now I will just focus on the water sports aspect of the product.
The typical customers I will be targeting are boat owners and water sport enthusiasts. This product has a wide reach so it can be offered at wide range of stores like West Marine, Bass Pro Shops, Sports Authority, Dicks Sporting Goods and potentially Walmart. The typical customer of mine has grown up around a boat and understands the the true value of this product, which is it saves your time, stress and money.
There are a few ways that customers will notice my product's value. The first way is innovation. This product is the first if its kind and has the possibility to start a product category of its own. It was on a matter of tim until someone thought of this product and realized its capabilities. The next way is connivence and efficiency. This product simply saves you time and stress, which are characteristics of any successful product. One of the last ways that consumers will my products value is it increases safety and prevents accidents from happening.
As far as my research extends, I have yet to find a company like us. Simply what sets us apart is our innovation. We are one of the first to see this opportunity in the marketplace which can either be a blessing or damaging to a company.
The product has yet to be named but we are currently testing the market with possible names. The product I am developing is self deploying and self retrieving rope device designed for all types of marine use. The product replaces the need for a traditional " water ski rope" or "bow/ stern rope". The product removes all the hassle involved dealing with ropes, knots, and anchoring when you are actually out on the water. One of my favorite and hopefully the most popular feature is that it will protect your engine propeller from a rope getting caught and causing thousands of dollars worth of damage. There will be three buttons on the top for deploy, retrieve, and lock. In order to ensure your time on the water is as enjoyable as possible, you don't want to be dealing with annoying knots, tangles, and literally retying everything just for one person to switch turns. With my product, all the stress is relieved. Simply bush a button to deploy the line, to bring in the line, and adjust the length to the skiers preference. I also see this technology expanding to commercial outlets but for now I will just focus on the water sports aspect of the product.
The typical customers I will be targeting are boat owners and water sport enthusiasts. This product has a wide reach so it can be offered at wide range of stores like West Marine, Bass Pro Shops, Sports Authority, Dicks Sporting Goods and potentially Walmart. The typical customer of mine has grown up around a boat and understands the the true value of this product, which is it saves your time, stress and money.
There are a few ways that customers will notice my product's value. The first way is innovation. This product is the first if its kind and has the possibility to start a product category of its own. It was on a matter of tim until someone thought of this product and realized its capabilities. The next way is connivence and efficiency. This product simply saves you time and stress, which are characteristics of any successful product. One of the last ways that consumers will my products value is it increases safety and prevents accidents from happening.
As far as my research extends, I have yet to find a company like us. Simply what sets us apart is our innovation. We are one of the first to see this opportunity in the marketplace which can either be a blessing or damaging to a company.
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