Existing Market
I think what is next for my venture is a lock that keeps
shotguns locked to the vehicle. People who keep shotguns in their car are a lot
less common than handguns, but they are still common. I know a lot of people
who live out in the country who keep a shotgun in the back of their truck.
Interviews
Interviewee 1: The first person that I interviewed in my
market said that we should be doing something that locks guns in houses. I
asked him about my idea about something to lock up shotguns with. He said that
he likes that idea but personally doesn’t keep a shotgun in his car.
Interviewee 2: The second person that I interviewed suggested
doing something that is focused on locking up other valuables in the car such
as any electronics that may be kept in the car. I asked him about my idea of
something to lock up a shotgun in a vehicle and he liked it. He keeps a shotgun
in the toolbox in the back of his truck.
Interviewee 3: The third person that I interviewed suggested
doing something about a lock that comes with the vehicle when you buy it. He suggested
trying to partner with a car manufacture and having them available as an option
for preinstall at the factory. I asked him about my idea for a shotgun lock and
he thought it was a good idea even though he wouldn’t use it.
Based on the feedback from my customers,
I think the thing that makes the most sense for my market is a lock for shotguns.
I know a lot of people who live out in the country and keep a shotgun in their
vehicle. Even though none of the people suggested it, it was well received.
This would
most definitely be targeted for the rural market. Most people who live in the
city do not keep a shotgun in their vehicle. A lot of people who live out in
the country keep one in their vehicle for all kinds of reasons since they are
so multi-purpose. This makes the most sense for my venture in terms of growing
my existing market.
New Market
The market that I decided to target that is radically
different from my existing market. It is people who don’t even own a gun. I am
thinking about a lock that locks other valuables such as wallets or sunglasses.
Interviews
Interviewee 1: I asked the first person how I could meet
needs of hers even though she doesn’t own a gun. She suggested something that locks
up other valuables. For this I would have to change the design of my lock. She thought
that I would need to make some sort of box that is bolted to the floor of the
car. There is already something like this on the market so my product would
have to be cheaper than others on the market.
Interviewee 2: The second person that interviewed also does
not own a gun. I asked him how my product could meet his needs. He said if it
had some sort of tracking device, he may potentially buy it even though he wouldn’t
use it for its main purpose (locking up a gun). So, for this it would make more
sense for me to just sell a tracking device because it would be cheaper. I asked
him about a lockbox for other valuables and he wasn’t a big fan of it.
Based on the feedback from people
in a new market, there is not much opportunity. I was not expecting much
opportunity because they don’t own the product that you would own to have the
need to buy my product. I found it interesting none the less. I think I could
potentially try to sell a lockbox in the future if I am able to establish my
gun lock as a real player in the market.
What surprised me the most was the
idea of a tracking device. That is a very interesting idea. If I was able to
incorporate a tracking device into the lock, I could market it as something
that you could use to track your car too. I would not have thought of that if I
hadn’t spoken to someone in this market.
