Friday, April 5, 2019

Venture Concept No. 1

The opportunity present is the group of potential customers among the populations of colleges and Universities. These students have the need for a laptop charger that is as portable as the device itself and are the demographics are pretty easily defined as college aged students. This opportunity is huge as there is tons of marketing that can be done within colleges for this type of product. While the customers in this case are indeed loyal to the wall plugin chargers they use now, they would all be pleased if an affordable portable laptop charger came to the market. This window of opportunity will be open until it is taken by one of the big computer brands.
The innovation in this case is an incremental. Portable chargers for phones and other types of devices already exists while there are wall plug in chargers currently sold with laptops. This product is a combination of the two ideas into one universal laptop charger. It is to have a similar style as the portable phone chargers, but ports to plug into various types of laptops and enough power to actually sustain the batteries. One of these chargers is expected to be priced around $60, cheaper than the typical Apple wall plugins.
The venture concept here is addressing the opportunity of students' dying computers in libraries and lecture halls. My peers and I have had this problem continuously, and it would be solved by this product coming to the market. It shouldn't be too hard to get customers to switch to this product if it was to actually come into stores, because I am yet to see a portable computer charger in any sort of storefront. The competitors are the big computer brands, Apple, HP, etc. who's only weaknesses are the failure to address customer needs adequately. Packaging, price points, customer support, and distribution all are some of the most important roles here, as no one wants to travel far or spend large amounts of money only on a charger. In order to support the ongoing production of this business, I would like to organize a business as some sort of partnership, one in which someone could help with the design of the electronics within the product.
Again, my most important resource here is networking. Being able to work with other people is vital in this kind of business because there is an array of things I am yet to learn about the production of electronics and chargers. The second thing to handle is the actual production of the device. What's next is trying to get my product in the UF bookstore and nearby office stores where sales will flourish.

1 comment:

  1. Hey Joseph,
    I like your concept and it seems like you have build upon the initial idea you had when you started the course. I agree with many of the things in your concept and can both see the need for this product as well a the reason for why customers should get your charger. Since it is college students you are dealing with having a cheaper price than the competition may very well be the most important way to market.

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