25A - What's Next?

Existing Market

Step 1: With the plan that I have currently, the next step would be building my streaming service and marketing it to the students on campus. If it is as successful as I hope it will be, I am hoping to expand it to other schools in Florida and hopefully throughout the country later on.

Step 2: I interviewed three potential customers that I have already talked to earlier in the summer and they had the same idea that I had. They believe that creating the streaming service is definitely the next step because without it, the company is nothing and that advertising in the beginning will be very very important to get the word out. They also all agreed that it could be expanded way further than just UF and Gainesville.

Step 3: Based on my own expectations and the feedback I received from customers, this opportunity seems to be much larger than just the University of Florida and it's students. I see my venture to be one that will continue to grow and expand as time goes on and more people hear about it. By this, I mean that it could expand from Gainesville to the entire country and potentially even further. 

My interviewees all talked about how important advertising would be and the many different ways I could do so. One of the customers talked about setting up social media pages on Instagram, Facebook, Twitter, and maybe even TikTok. With these, the customer base would be able to see the new service from the very beginning and would be able to direct message questions to us that we can answer and hopefully convince them to switch to the new service.

New Market

Step 1: A radically different market that I could target is the professors at the University of Florida. This would be a whole different segment of people and would have to be advertised to in a completely different manner.

Step 2: Professors are usually older and have more life experience than students do, so they would be more financially smart. Part of being financially smart is choosing things that are cheaper in order to stretch the value of a dollar. I think that because of this, the professors would get use out of my product as well.

Step 3: I interviewed two people from this new market. One was an older professor around the age of 60 who said that there would have to be classic movies and tv shows as well as documentaries. The other was a newer professor who said that it would have to be ad-free because they do not have time to waste on watching advertisements.

Step 4: From interviewing people in this new market, I learned that if I made a few modifications to the original platform, it could be applied to another market. I think it would be beneficial and would allow there to be different levels of this platform that could encapsulate different markets.

After interviewing this new market, I still believe that my original market of college students is more attractive and that my service would be more attractive to them as well. The need for college students to save money is higher on their priority list than that of professors because they have a steady income.