Assignment 25: What's Next?

Existing Market
1. I think that next, this venture just needs to work out whatever complications come with a start up business. hopefully it takes off and then we can lower prices on tires a bit and potentially start a service like Tire Kingdom has where we can broaden our market.
2. Based on my interviews, people see my venture developing into a business similar to Tire Kingdom, but also into something more of a mechanic type place. They mentioned that I should think about doing a full car mechanic service once the business takes off a bit. They supported my ideas for where this company could go next and added onto it with the mechanic thing.
3. For my venture, I think it would be a good idea to start out as a company that makes tires and changes/repairs them for people when they come in. I would eventually like to expand the business out to be more than just a focus on tires, but that wouldn't be until the business is stable. My interviews offered some very good insight to see what the customer base would want to see from my venture and I think it's a good idea to follow along with what the market is looking for
   I think that it makes the most sense to expand the product/service base with the needs of the market. With these interviews, I identified a second need that should be addressed with my company since I have the ability to do so.
New Market
1. A different market from mine would be one that doesn't care about the environment but just solely looks at dollar amount on the product/service.
2. I think I could create value to this market by finding ways to decrease the price or offer more for my price, like a year warranty or something to that nature.
3. When I interviewed people they suggested to me that I should lower the price or offer different perks to go along with the price that I have already set. Perks being like a 2 year warranty on the tires, fixing them at a lower price if something happens to them within the first year.
4. In this new market I learned that people who focus on price also worry about the quality they're getting as well. They may worry about how long the tires will last before they have to invest in new ones and that is a very important question to address. Nothing really surprised me per say but just reminded me of certain points that I may have been forgetting.
   Many of my assumptions for this market were correct. This market is more attractive to my venture than I previously considered because they're looking for price and quality. There isn't a reason why my product shouldn't be both eco-friendly and cost effective.