25A – What’s Next?

Existing Market.

Step 1: Talk about what you think is what is next in terms of products and services for your venture.

Once we are able to create the breakthrough in softening marijuana’s use and acceptance into public spaces with our hubs, we will then use additional research and development dollars to determine other areas we can assist the industry and general public in creating a more harmonious union.  As time progresses other opportunities for ancillary products will present themselves. With the current crisis, any addition related to a more hygienic space during public use would be accepted. Because at that time we will be considered an industry leader, we will be better positioned to create change in order to offset found disruption.

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.

Barbara C: After relating my business venture concept, Barbara felt additional research should be made into what local law enforcement would feel about the creation of the proposed hubs. Depending on geographical location and hub positioning, she felt there might be push back. More research should be involved was how she phrased it. Barbara indicated consumers such as herself with respiratory ailments like asthma would be relieved at the effort. Barbara proposed perhaps adding a discrete means of getting rid of the byproducts from the marijuana use on site could be constructive.

Joan K.: Joan also thought the idea to be necessary based on the changes in time. Working full time in a marketing firm, her advice would be building relationships with our local elected officials. This would work in our favor for being awarded vendor contracts. Joan indicated having an app which would denote where these hubs are located would lesson the likelihood of someone sparking up while being in motion. The user would plot their use to coincide with the smoke shelters.

Lee C.: Lee also indicated research would be beneficial in order to be prepared for market entry. Researching what if anything other countries who already have legal use are doing. Other states also may have similar options. Next steps he indicated would be to begin work creating a prototype and have patents preserved in my name.

Step 3: Based on your own expectations and the feedback you received from customers, set a path for the future. In two to three paragraphs, describe what makes the most sense for your venture in terms of growing in your existing market.

                After received feedback I better understood some of the challenges I may be faced with within my new venture. Not having established relationships with public officials may hurt my credibility. Moving forward, being more intentional in the outlining of to whom and how I plan on marketing my concept would benefit me in future interview.

                In order to grow my existing market, additional research must be made in establishing a weather or not local building and health code could impact the installation of my proposed devices. Understanding local laws, legal enforcement, and the elected officials who-s tasked with writing the code would benefit me.

                Once I am more acutely aware of all factors which could prohibit my concepts creation, I can began a multifaceted marketing campaign which would include public outreach. Focus groups are a good source of research. I can then use the research to validate my claims of others feeling their rights to equal enjoyment of the air quality is being compromised. It is at that point that I will have the attention of those in position to create change.

New Market.

Step 1: Identify a radically different market from what you're currently planning to target. If you're currently targeting B2B, think about going after a B2C market. If you're currently targeting an affluent part of society, think about targeting a very poor part of society.

             While my initial outreach was for middle age, middle class voters with children, my radically different market would be young marijuana users. More specifically the cross section of society not partaking in marijuana use for medicinal purposes, but that are looking for passage of legislation for recreational use.

Step 2: Once you have identified a radically different market, describe how you think your venture concept might be able to create value for people in that market. You may have to get creative with this -- that's OK -- and perfectly welcome!

            While this cross section of society was not my primary audience when I thought of my venture concept, they did occupy a lower level consumer space. Not because they won’t be impacted with the creation of my hub stations, but because they have less political capital and having them be the face of my initial movement may be counter-productive. None-the-less, my product will create value for them as well. Within my description of the innovation I indicated the hub would work to remediate the looming odor of the smoke that usually saturates clothing during use. The removal of the odor from the clothing of this cross section of consumers would be very beneficial.  

Step 3: Interview two people from this new market. Again, describe to each interviewee what your concept is. Then, ask them how they think your business might be help to meet customers like them. What kinds of adaptations to the product/service mix do they think you should make to be successful in this new market?

Dwight D: Dwight being a Rastafarian relates marijuana use to being a religious sacrament. Dwight also living in Florida felt the shelters should be equipped with some level of tinting in an effort to block out the suns rays and create a more comfortable space. Dwight stopped short of suggesting seating however as he understood the hub was meant as a pass-through area for a quick smoking session while being in motion.

Corey B: Corey utilizes cannabis for its medicinal purposes. Having experienced a serious car accident, Corey was left with aggravating muscle spasms. If not for it, he would have excruciating pains in his back more times than not. Marijuana has helped to actively reduce the level of pain he experiences. Corey would like to know the hubs are monitored for his safety and protection. Corey also feels if it is monitored, it would help to keep away riffraff and as such remove the stigma of those who utilize medicinal marijuana.  

Step 4:  Reflect, in two to three paragraphs, on what you learned about this new market. What surprised you the most? Were any of your expectations/assumptions correct? Does this new market, on second thought, appear to be as attractive as your existing market? And so on.

In reaching out to the younger market, I found they were exceptional responsible in what they hoped to expect in the upcoming hub shelter. Because of the age variance, I immediate expected requests for things like charging stations and visual displays to pass the time. I was wrong. The suggestions that were offered were thoughtful and necessary.

While the new market did offer some exceptionally innovative ideas, the original market still offers the level of political clout and disruptive wherewithal I need in order to gain market entry. For the most part while the new market noted they would attempt to conform to the new environment they did not feel the hubs were entirely necessary. According to the new market, they are able to indulge discretely and have minimal concerns for the associated odors the primary market balked at having around.