ENT3003 - Jenna Stephany

Existing Market.  Step 1: Talk about what you think is what's next in terms of products and services for your venture. Ointments and salves are next in this market. This would create new products for the venture with similar healing benefits. This will also target people that get irritated skin from wearing bandages. Step 2: Interview three customers who are already part of the market you have identified, and ask them what they believe is next for a venture like yours. Describe to them your business, and simply ask "What should we be doing that we aren't planning to do?" Next, ask them about  your  ideas of what customers might want next.  Interview 1: We should be focusing on organic healing for the venture. What would Whole Foods want? Interview 2: We should be focusing on child healing specifically. Parents don’t want to buy adult bandages for their children, so there should be a specific line for children. Interview 3: We should be ...

Opportunity : I strongly believe that every person has the need for this item. Everyone scrapes themselves, burns themselves or cuts themselves. It’s simply humanity. More so, the potential customers are the people that experience more severe injuries. These would be burn victims and people who get into accidents. The market is specifically for those willing to invest in better healing parents and health addicts would be more likely to buy this product than your average shopper. The nature of the need is based off of the injuries of others. The environment creating this opportunity is the stagnation of the healing market. People crave innovation. Customers are currently satisfying this need by buying the regular bandages which simply cover up the injury while still needing ointment or antibacterial. This opportunity is huge as the current market for bandages is upwards of $500 million dollars. The window of opportunity will be open depending on the rate of medical ...

1.      Connections to research platforms (some good, some bad) a.      I currently perform my own research at the University of Florida. Therefore, I do have connections with fellow researchers, phD students, and professors. These relationships could be stronger, though. 2.      Connections with individuals in the drug store industry a.      Connections within the drug store industry are very important because this is how you get placed on shelves. I can get support behind the scenes and get advice on how to better pitch my product. 3.      Connections with nurses and doctors a.      Connections with the people most knowledgeable about the product are extremely important. This will provide a pathway for creating the most useful product during the research phase. If the product has value, then these connections will vouch for it. 4. ...