Existing Market
1. In the future, I envision ARCS forming some sort of partnership with a car rental service and then instead of outsourcing our customer’s cars to repair shops I also would like to have our own on-site mechanics at our locations.
2. Three things that are next on the business agenda: 1) formulating the employee training program 2) designing the type of employee culture I want to foster 3) beginning to develop the customer app
3. What makes the most sense for my venture in terms of growing the existing market would be deciding on how to launch my service and market it correctly. How a service is initially presented can make or break it so I feel it is important to spend some time deciding how I want to present ARCS to the public.
ARCS also needs to be tested a few times so it can run smoothly, this involves testing the app, testing delivery of loaner cars to customers, and much more. The goal is to be as efficient as possible to provide maximum convenience to customers.
New Market
1. I’ve mentioned in serval other assignments how I am targeting one car households where they share a car and that one car is essential to their livelihood. Instead of targeting one car household I can try and expand my market by targeting households that own more than one car.
2. My service will create value for the individuals in this new market because although their home has more than one car they are still going to need to repair one of their cars when it has an issue. Although they have additional cars to take them to and from the repair shop, ARCS will provide convenience to them that is unmatched. Our app and friendly customer service employees will make their car repair experience so simple they won’t even have to think about it.
3. Adaptations to the service mix I should make to be successful in this new market are additional benefits that I could provide that these customers cannot get elsewhere. This could range from offering my customers to clean their car for no additional fee while it is being repaired to quick and fast repairs on their cars
4. This market is definitely as attractive as my existing one because it expands my market greatly. Although the new market is not as dependent on their cars as my target market, I am positive that they will still want to use ARCS. I did not learn anything major from my new market but it did make me think about more ways to satisfy the customer.
I think pairing your business idea with a car rental business is a great idea. This eliminates having to provide the cars which saves you a lot of money. They would have to get something in return though to provide you with their cars. However, I agree that your market is pretty big and that lots of people are sure to benefit from your plan.
ReplyDeleteHi Marioly,
ReplyDeleteI think that you did a great job nailing the expansion of not only your initial product but also the entrance into a new market. The plans and projections were well thought out and seems like a great next step for the product. Even though we could not go out and do interviews, the possible next steps were insightful.
Hello Marioly,
ReplyDeleteI like your plan for the expansion of the service. If you could find a way to position your service to not only benefit those customers who have only a single vehicle but also those who have multiple vehicles I believe you can greatly expand the range of customers that your service will attract. This is a great idea for the next step of your service.