Assignment 25A

Assignment 25A- What's Next?

Existing Market

Step 1: After the initial launch of this product into the Magic Kingdom park, the next move for my venture would be to expand the product into the three other parks that Disney has. 

Step 2: When I told the three people I interviewed my business idea they said that they really liked it. They told me that by neglecting the other parks I could've potentially been losing out on a lot of business. They also said that they thought testing it out first in just one park , and then expanding to the rest of the parks was a good idea. They said that by expanding business into the other parks they distribution of the magic bands would be easier since the producer would only have to make one magic band from now on with the GPS included. 

Step 3: After the interviews I made I think that just keeping my magic band product localized for a while is a good idea. I think that once people learn that it is easy to use and it is not a hassle to find the machines people will love it. I also think that it will be easy to market this product especially to parents. 

While conducting the interviews I also realized that my next step would keep making sense. Neglecting the three other parks that Disney has to offer makes no sense because you can also buy magic bands in those parks. I think that customers would appreciate being able to use the magic bands that they had originally purchased with the GPS and being able to use them everywhere in the Disney parks. 

New Market 

Step 1: This product might be able to apply to a completely different cause. Instead of using it for lost children in parks, this product might be useful in school settings. As unfortunate as it is right now a lot of school shootings are happening, and this product might help localize the children in these situations as fast and effectively as possible. 

Step 2: I think that this product would be able to create value because the safety of everyone that is in this situation is very important. It would help the rescue of these children in a hopefully more effective manner. 

Step 3: I interviewed two people that were victims of a school shooting in Parkland. I described my product concept to them and told them what it was originally made for. They told me that they thought that it was a great idea. They weren't sure how it would work in a school setting though and the thought that might concept might be better applied as it was originally intended for. 

Step 4: Coming up with a new target market for my product was very hard. This product was intended just for amusement parks and nothing else. I learned from my new market that my product is just very specified to the target customer that I had thought of originally. My assumptions were correct because I didn't think that people would necessarily liked to be tracked while they are in school. However, I think that my existing market was very happy with the product and with the possible expansion of the product to other parks. I don't find the new market as attractive as my original market because like I said, my product is more intended for amusement parks.