25A: What's Next?

Existing Market:

Step 1: What is next for this venture in terms of service is expanding to all United States which would facilitate service and bring the cost down. Since there are going to be more people willing to be the deliverers, competition will increase which will allow the venture to reduce prices. In addition, if the venture continues to grow, it could add pharmacists or physical therapists to come to your house. The addition of this extra service will potentially bring prices up. It depends on the market if we would add this service

Step 2: Based on the interviews I conducted with Baby Boomers, they mention that we should set prices based on the total purchase, not the time it takes the deliverers to their houses. In addition, one of them mentioned that prices should not be more $20 since he doubts that customers are willing to pay more than that for their medicine to be delivered.  

Step 3: For my venture to become successful, it must follow a process with various steps. First of all, I would have to contact mobile app developers, software developers and other I.T professionals to be able to create the application in the most attractive but yet, simple way. Next, I would have to gather a marketing team to be able to promote the application. It would be first projected only for a mid-size city in Florida. If the app seems to work, I would have to rent and buy a location for numerous needs that this service will require such as human resources and others.

New 1Market:

Step 1:  A radically different market that I could target would be a B2B instead of a B2C. I could offer my service to other businesses such as CVS or Walgreens where they could incorporate such in their companies. I believe this would set them apart from the competition. In addition, they could also bring the cost down since they have a larger budget. That being said, they could target other potential customers that might have this need.

Step 2: I think businesses that implement this service in their business would create a greater value to their customers. They would take away an inconvenient process for their customers that will make them unique and set them above the competition.

Step 4: I believe the second market is almost as attractive as the existing one. To attract people from lower incomes we would need to lower the prices and as a result, we would make less profit or breakeven. I believe everybody would like their needs and wants to be delivered, but not everyone can afford it.