Existing Market:
One of the first suggestions I received was something I thought about earlier on in the process, but forgot to explicitly call out in my venture concept and that is to have visibility for owners to check in on their pets through cameras and alerts. I planned to incorporate updates on dogs activity throughout the day like "Tucker just had lunch! Would you like to check on him?"
Other feedback I received was to also offer dog-walking services. This customer would feel more comfortable if they could just come to one company/person for their various dog-care needs, rather than having to search for another provider if they just want to hire an afternoon dog-walker.
Another additional service to add on according to someone who currently uses a boarding service once a week is drop-off or pick-up services for an additional fee. She said it would be great if she found out she had to work late while she was already at the office, if she could call and request that her dog is picked up.
New Market:
To target a poorer segment, we could offer the opportunity for people to volunteer their time or donate supplies in exchange for discounted day-care services later-on. Since the donation of time or supplies would reduce our variable costs, it would not lower our margins to offer a reduced price point for their people.
Based on interviewing dog-owners at my company with lower-salaries, they thought this was a good idea, in theory, but might not be that worth-wile in practice. While one person mentioned it would be nice to be able to bring their dog and volunteer at a "puppy playtime" and then cash that reward in at a later date, the other interviewee brought up the good point that if they were really in a pinch and needed our service, they probably wouldn't have the time to bank up enough savings to be able to afford it anyway. They said they would rather ask around to find someone who would check on their animals twice a day for free or a lower price.
I definitely need to brainstorm about the best way to enter this market for the people and my company.
Victoria, great job on the What’s Next Assignment. I found your response very well thought out. I like the feedback that you received from people in your existing market and new market. I also received good feedback from both of them. I think you make a very good point at the end. We all need to brainstorm the best way to enter our respective markets.
ReplyDeleteHey Victoria,
ReplyDeleteI agree with Riley where I thought your response was thought out. For the new market, I liked how you targeted the poorer segment and the idea of people volunteering or donating to the dog care service to get a discount. This way, it is beneficial to both you and the customer.
I do think that giving owners the ability to check up on their dogs during the service would be helpful. Not only would it appease the owners and make them feel secure, it would develop a trusting relationship between you and the customers. As for appealing to a less wealthy market, it is complicated because you’d struggle to find a good form of compensation without having them driven away. However, I do feel that, as a whole, this service is aimed towards the middle and upper classes of society.
ReplyDelete