What's Next? (25A)

Existing Market

What's Next? My first step is getting approval from the RTS company in order to implement my product into their buses because without this approval the venture is pretty much unfeasible. 

Sadly, this whole social distancing thing doesn't allow for interviews but I believe after explaining my situation and endeavor they would agree that creating that connection would be the most important first step.

After getting this approval, there would be so many more steps that are necessary. I would have to get space in order to start a factory along with a team of employees in order to start the business going, after that I would need to create the first test run of products and produce a test run of the products to make sure it is efficient. There would need to be a team of engineers assembled in order to create the app which would then have to be paired and tested as well. After the testing phase is complete we would need to implement it in every bus and then release the app on the market getting the transportation systems at UF to send out an email about its arrival on the market to get more awareness. 

As we progressed and got approval from the market we would further our endeavor by spreading into different fields of transportation starting with a rental car service in order to help students who don't have cars. Spreading our reach along with providing a new source of revenue as the buses would mostly be a one time fee with the exception of repairs and services needed on the devices. 

New Market

My current market is very poor college students, in the future I would want to reach more into the locals pockets as they are middle class and a completely different market altogether. My venture concept will benefit them as well due to the increased use of RTS systems during all those cherished game days, this service will help them in there time of need as well giving them a opportunity to get those perfect seats at the next gator game. Corona stinks doesn't it, no interviews were taken in the making of this post. However, in order to make adaptations and further reach this new market, I would need to do more advertising than just on campus and pull on their heart strings by using the beloved football team in order to get them to care. 

This market is a tricky one considering they are less affected by the overall need and will be harder to make aware of the need in general. However, Gainesville is a huge college town and there is a high influx of locals on campus during football season which means I would have the perfect opportunity to make them aware of the situation and how necessary the changes I am trying to implement actually are. After getting them to be more aware it should be pretty easy to get them to become invested as there is such a sense of Gator pride within the city of Gainesville and most people have experienced the RTS system at one point or another. 

It is definitely not as attractive as my current market, other than the fact that they have money, because it is hard to sell to people who are unaware of the need. However, it is definitely a surprise that they would still be willing to pay considering usually people are selfish. My main assumption is that they will be willing to pay even though they are not affected on the daily and without those interviews I'm not really sure how this would play out.