What's Next? (25A)

Existing Market

Step 1: What's next for my venture could be patenting the idea, talking to university housing, and/or talking to off campus building properties.

Step 2:

• Interview 1 (college student living in a sorority house):
• For a venture like yours I think making it easily accessible is what's next. Make sure the chute is easily accessible because your venture is about convenience. 
• You aren't planning on making a prototype so maybe you should think of a way to do that.
• Customers might want reusables like reusable water bottles next instead of using throw away things like plastic cups.

• Interview 2 (college student living in Yulee Hall)
• I am not really sure what is next for a venture like yours but I think making people aware is a good place to start.
• Maybe plan on a way to spread the word about your product so that people know that it is an option.
• Your customers that are really passionate about the environment might want a composting chute next.
• Interview 3 (college student living in apartment):
• I believe that maybe next you could reach out to apartments not only geared towards student housing.
• You should plan to get environmental organizations to help/promote your product and idea.
• Customers might want to know other ways they can help preserve the environment, because one good act leads to another so they might get really into recycling after using your product and want to find other ways to help. 

Step 3: What makes sense for my venture in terms of growing in my existing market would be to work on the legal and logistical side of things rather than the construction and building of the product.

One of the people I interviewed suggested making a prototype but I am not sure that is feasible and I do not think people need the prototype in order to understand the product. 

Trash chutes were not always in buildings so I should probably do some research on how the person who thought about them shared their idea with the world.

New Market

Step 1: My radically different market are adults who are not in school and live in homes (rather than students living in student housing). 

Step 2: My venture concept might be able to create value for people who will be entering that market in the future but not those who are currently in it. For example those in my market currently will eventually enter the "New Market". Those in my existing market will get into the habit of recycling now so when they one day enter the New Market as adults and home owners they will take these habits with them and continue recycling. 

Step 3: 

• Interview 1 (homeowner from Miami, FL):
• How might my business help meet customers like them: It wouldn't because I don't have a trash chute I have garbage cans and recycling bins in my home.
• What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? There's nothing you can do to be successful in my market because I have a recycling bin next to my garbage bin. There's no financial benefit for me and it doesn't make recycling for me any easier. 

• Interview 2 (homeowner from Miami, FL):
• How might my business help meet customers like them: The only way this would help customers like me would be on a global level. This would not help me directly since I live in a home and don't use trash chutes, but it would help make the world a little cleaner so it helps in that way.
• What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market? Maybe make people in my market aware of the product so they can demand it in the universities in their states for their children's housing. 

Step 4: What I learned about this new market is that they did not really see it as a use for them. I was a little surprised that they could not find any use for it in their homes but if I had thought about it practically I probably should not have been.

This new market is definitely not as attractive as my existing market because they do not have a direct need for it.