For this assignment, I am going to
lump together my old market and new market, because after I interviewed my
three people for each market, it became clear to me that there was no
difference. Everyone sees traffic lights. It doesn’t matter if they live in a
rich or poor neighborhood, where they live, etc. As long as they drive, they
see traffic lights. In my interviews, the interviewees recommended just trying
to get my technology in as many traffic lights across the globe as possible,
which was my original plan. However, I did bring up the possibility of putting
a better light bulb in my traffic lights. Both groups of interviewees agreed
that this would be a good improvement for many traffic lights. As their bulbs
start to dim, it becomes harder and harder to see what color they are during
the day. Overall, I knew that my old market and new market would be the same
from the beginning. A traffic light is something that is so generic, that there
is no specific market. It is something that affects nearly everyone and it is
hard to think of a radically different direction in which I could take this
company. However, I will continue brainstorming and thinking of different ways
in which I can expand my business. In conclusion, the people I interviewed
agreed with me in the direction that I plan to take my company, which can be
seen in my previous post about my venture. I look forward to receiving more
peoples input and growing my business ideas and overall strategy and goals.
Hello there,
ReplyDeleteI like how you were able to go about this assignment and actually melt it together in a way that it made sense for your idea. Not all ideas work the same and it is hard to find a rule that fits them all, and especially in your case, which such a great deal of market to cover, you may find yourself looking for resources where information for such a big venture is not available, but don’t give up.
Hey Ben,
ReplyDeleteI think it was necessary for you to combine the old markets and the new markets together. Furthermore, I would have to agree with the individuals that said improving the light bulbs would help those to see the lights more clearly during the day. All in all, this product is a game changer and will help destress driving.
I agree that there really aren't separate markets in your situation. I do really like the idea of finding better quality bulbs for your traffic lights. I know there are a few lights near my apartment that I can sometimes barely even tell when they turn green. I'm not really sure how to make more visible bulbs or what that would entail, but if you could figure it out I'm sure people would be interested.
ReplyDeleteBen,
ReplyDeleteI agree with you that the existing market and the new market for the smart traffic lights are basically same from your beginning of this opportunity. The traffic light is more like monopolistic market nowadays. I also like your idea about putting the new technology light bulb in your traffic lights, and it seems very innovative. Good work, and I hope to see more from you.
I agree that your old market and new market have no significant change. Everyone sees the traffic light, whether you are in a bad area or a good area in your city. Inserting a better bulb would definitely fill this gap in for being more convenient to residents in Gainesville. Great job on your part!
ReplyDeleteHey Ben,
ReplyDeleteI agree the people that you interviewed, since lights are already everywhere, you just have to try to get your product in as many of them as possible. Also, i like the idea of brighter light bulbs in traffic lights. I cannot count the number of times i have been sitting at a red light and looked at the light that is perpendicular to me to look if it has changed yellow or red yet. Awesome post!
Hey, I liked how you ended up putting all the markets together. I agree with you that it's true that pretty much anyone who drives sees traffic lights all the time. I think that having better quality bulbs would be good also. Sometimes the traffic light will burn out, causing traffic jams which are really just annoying and unnecessary. I think that it could help people in pretty much all walks of life.
ReplyDeleteI like how you put all of the markets into one. There is no need for you to split them up. Traffic lights are seen all over the world no matter what part of the world you are in. Making them more visible to people seems like a great idea.
ReplyDelete