25A- Whats Next?
Existing Market:
After interviewing with three kids in my fraternity and friends from around campus I have came to two ideas that will aid my existing market idea. I have to expand MeanTime's service to every popular bar on campus so students can fully be aware of their choices on a night to night basis. One aspect to to MeanTime that we pride ourself on is it lets to compare activity from one bar to another and without allowing students to have access to ever bar live video how can the make the best decision for themselves?
Nation wide expansion is another idea that came out of my interviews. MeanTime will become very successful and I will one day need to tap into some un touched markets. This will push me to expand to college campus' nation wide. I know that if this idea is successful at one big university it should be successful at most universities with the correct procedure.
New Market:
My new market would be similar to the first but expanding to reach new customers that I never was able to before. I would expand MeanTime by allowing students to check live streams of the campus library and gyms. This allows people who may not go out or go to the gym but go to the library, only go to the gym and not the bar or library or all three to have MeanTime benefit their day and have a one stop shop to coordinate their day and see what is the most available at the time.
Existing Market:
After interviewing with three kids in my fraternity and friends from around campus I have came to two ideas that will aid my existing market idea. I have to expand MeanTime's service to every popular bar on campus so students can fully be aware of their choices on a night to night basis. One aspect to to MeanTime that we pride ourself on is it lets to compare activity from one bar to another and without allowing students to have access to ever bar live video how can the make the best decision for themselves?
Nation wide expansion is another idea that came out of my interviews. MeanTime will become very successful and I will one day need to tap into some un touched markets. This will push me to expand to college campus' nation wide. I know that if this idea is successful at one big university it should be successful at most universities with the correct procedure.
New Market:
My new market would be similar to the first but expanding to reach new customers that I never was able to before. I would expand MeanTime by allowing students to check live streams of the campus library and gyms. This allows people who may not go out or go to the gym but go to the library, only go to the gym and not the bar or library or all three to have MeanTime benefit their day and have a one stop shop to coordinate their day and see what is the most available at the time.
Johnny,
ReplyDeleteI think that potentially expanding your idea to include places like the gym and library would be very rewarding. You have to consider parts of the market that do not go out often to bars. By adding other venues, you will gain more interest in the long run. I do think it is very helpful to see the wait times at such places, but just remember that some apps such as yelp do predict the busiest times of the day. This will be your main competition and you do have an advantage because you would be providing real time information vs historical data. Overall, great analysis.
I believe including different places like gyms and librarys would offer a different market and target a new customer outside of the one you first identified. In my opinion those who would use it to check library would be complete opposite of your markets spectrum, my only thing would be with internet and the limited amount of people who use the library as a resource, perhaps including something like grocery stores like walmart or publix which we know can be extremely busy and no one wants to wait in those lines.
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