For the elevator pitch, things that stood out to me where the idea of grabbing the audiences’ attention. This can be done by giving the audience an eye-opening scenario when the pitch is started which allows for the audience to be easily engaged. The thing that I changed versus the first elevator pitch was my approach to engage the audience and my body language.
#Assignment 17
My prototypical customer would be a female between the ages of 18-25. This type of customer would be a college student or a young professional. These customers like to go for early morning jogs and enjoy volunteering at local charities. They are very creative and forward-thinking individuals who are open to change when it is applicable. These customers typically drive compacts sedans or SUVs from Toyota or Honda or drive entry-level luxury cars from BMW, Audi, and Mercedes-Benz. The car is typically white or silver. These customers typically watch the home improvement network to get DIY craft ideas or watch pretty little liars. The customer typically has no kids but may be planning to in the near future. These customers are also in a relationship, engaged, or are married. These customers are typically more liberal. They like to read science fiction books because their mind likes to run wild. These customers feel like their age.
The things that I have in common with the customer’s avatar is that we are both college age – young professionals. I don’t think that our commonalities are a coincidence because I consider myself as being a part of the target audience for this product.
#Assignment 18
1) Tenaciousness is a competency.
The things that I have done to keep up with this course is watch or attend lectures so that I understand the class material. Planning ahead has also been something I have developed for this course because I have several online classes so I have to plan ahead for the coursework that may take more time to complete.
2) Tenaciousness is also about attitude.
A time when I felt like giving up in this course was when we had to do the elevator pitch. I waited until the day that it was due to complete. I originally had people assigned to help me record but they ended up backing out at the last minute. I was very stressed out about how to complete this assignment and look as professional as I can. The thing that pulled me through was the idea that if I complete every assignment, I can get a 100% in the class. By understanding what the result can be and evaluate the opportunities that can come about with my decisions makes me believe I have developed a tenacious attitude. The experience that contributed to this is the constant repetition of the work or idea involved in this course.
3) Three tips.
Three tips I will offer a future student is to work ahead, be patient, and ask lots of questions. Working ahead will allow you to catch mistakes you might have overlooked. Being patient will allow opportunities to come to you naturally rather then you forcing something you may not be necessarily happy with. Lastly, asking questions will allow you to clear up any unfamiliar content or allow you to uncover more opportunities.
#Assignment 14
For the first part of figuring out buyer behavior, I took a look at trying to figure out what preference the consumers had when it comes to servicing their vehicles. Part 1 gave me good insight as to what factors play into the decision-making process for the average consumer for car service. Again, three college-aged students, who have cars, were picked for interviews to get a better idea of what factors come into play when they decide to get their cars serviced. I narrowed down this segment to figure out buyer behavior for a simple service of an oil change. This is a service that is required by every vehicle owner.
Findings:
After completing interviews, I gathered a substantial amount of information. First, I will like to point out that there are many options for oil changes. You have the option to take your car to the dealer, to a local quick lube, or do it yourself since it is a relatively easy task. The biggest factor that played into the decision-making process for my candidates was the price. It seems as though price equates to the quality of the service. These customers valued the aspect of the price but were too skeptical to accept “too good to be true” offers. 2/3 of the customer expressed that they shopped around for the best deal for an oil change and did not have a preference as to where or who does the job. They would find online coupons, mobile coupons or mail/newspaper coupon for their local service shops. With more cars requiring synthetic oils, oil change prices average around $60. The other customer fully relied on their dealer and used whatever offer or incentives that their service advisor had to offer them. All three customers expressed that they felt that they made the right decision after their purchase is made and their service is complete (given that it was done properly.)
Conclusion:
After concluding the results from this segment, I can clearly see how my product can affect consumers. By providing the consumer with useful data in regards to the current status of their car, so that they can know when it will be the optimal time to service their car and give them time to prepare financially for that service.
#Assignment 15
Segment:
The segment that I chose is buying behavior when it comes to getting your car serviced. More specifically, whether or not individuals will go to their dealer for routine service or to an independent shop /quick lube center. The need in this segment is getting service completed on your vehicle, which everyone who owns a car needs to do. Everyone interviewed was college-aged and have jobs.
Summary of findings:
Upon completing the three interviews, I found a common theme amongst the three people. The number one thing these customers cared about was the price. The price played a significant decision make role when it came to deciding whether to get their car serviced at the dealer or not. The difference arose when other factors came into play with getting their cars serviced. First, one person felt that they not only cared about the price but shop reputation as well. They want to feel like their car is being taken care of so they don’t run into issues later. The second individual stated that they aren’t too particular about where their car is serviced, as long it gets done and done at a decent price. This individual stated that they would also do some shopping around or call around to local shops to get the best deal. The last individual stated that they will only take their car to be serviced at the dealer because “They know best” and all their parts and services are warrantied. At the same time, they will search for discounts to be used at the dealer but would not mind being up charged if all else fails.
Conclusion:
Considering that all the interviewees were college students, I’m not surprised that price played one of the major roles in servicing decisions. I can definitely agree with the stance of these individuals because as a college student, our money is very limited and has to be used in the wisest manner. As this experiment relates to the opportunity that I have presented, this will give a better idea of the type of buyer of the devices I’ve proposed. By giving drivers the opportunity to be more aware of what’s going on with their car, they better prepare for repairs and services.
#Assignment 12
The book that I chose to review was Steve Jobs by Walter Isaacson. Many of us already know the story of Steve Jobs but this book provided the opportunity to take a more in-depth look at the journey of Steve Jobs. The most surprising thing about the story of Steve Jobs is that he started off in a broken family, and for many, that is hard to overcome. He did not let the adversity he faced early on determine his path in life, yet he let this misfortune drive his creative mind. Jobs had many odds against him but that did not allow him to waver. It is well known that Jobs is a College Dropout. This is the attribute that I admired the most about him He did not allow a degree to determine what he is capable of. Where I am from, it is quite common to believe that college is not meant for everybody and I believe that to be true. Everyone has their own talents and college may not be the route for that person. I see college as a gateway for opportunity for the masses. Early on in the biography, you can clearly see that Jobs had a creative mind which allowed him to be a visionary in the technological world. He began his technological journey at Atari then moved on for personal growth. Several years later, Jobs came up with the idea for the “Apple 1.” Interestingly enough, Jobs came up with this name after he left an apple orchard. The inception of Apple was rocky and is comprised of many failed attempts. The original Apple computer went through many iterations as improvements were seen after each model was completed. Soon Jobs was faced with a challenged when his ex-best friend, Bill Gates, went against him as they were following the same pursuit of improving the world as they saw it with computers. Jobs claimed that Gates copied the concepts that he had for Macintosh software for use in his windows software.
Some competencies that I see that Steve Jobs had was the ability to see opportunity. This can be seen when he created NeXT and bought Lucasfilms which is now known as Pixar. He used NeXT as an opportunity to help improve computing within the educational world. Pixar, what we know today, became a large animation production which is now owned by Disney. Jobs used NeXT as a learning lesson because that company eventually ended up failing while Pixar is still flourishing today. The part that confuses me about the most in this biography is how Jobs was appointed as an advisor after he returned to Apple. I would be offended if I created the ground works for a company and I have to settle for a low position.
If I were to ask two questions I would ask:
I ask these two questions because they are major themes throughout the biography. Jobs did not have a good relationship with Gates so it would be interesting to see if they actually collaborated. I ask the second question because so much of our world is consumed by Apple products. Nearly everyone owns an iPhone or a Mac computer.
I think the entrepreneur’s idea of hard work was is to never stop improving. Jobs never stopped at good enough. When he finished one project, he moved on to the next one to see how the previous product can be improved. That can be seen with every generation of iPhones
#Assignment 13
Assignment 10
Idea Napkin No. 1
My name is Malik Davis-Pittman and I am a junior here at the University of Florida. I am studying telecommunications on the management track with a minor in family, youth, and community sciences. My talents included excellent critical thinking skill that allows me to solve problems efficiently and effectively. My aspirations are to improve automotive technology so that road safety is improved, drivers are in safe vehicles, and owners save money. This business concept will play a role in my life because it is a tangible opportunity that can be easily developed. This business concept coincides with my career aspirations to work in consumer relations within the automotive industry to help make driving the best experience possible.
The product that I am offering is a device that will allow drivers to be fully aware of what is going on with their car- essentially an all in one diagnostic tool. This device will give drivers the peace of mind that they deserve as they drive daily as this device will alert them of anything that may be wrong with their vehicle and offers ways to fix those issues. This device will also coach the driver on routine maintenance so that their cars can remain in tip-top condition while they are on the road.
The customers that this product will best be served to are drivers of cars that are more than 1 year old or drivers of new cars. Older cars tend to lack the technology that this device offers as standard equipment that this device will offer. Some new cars face the same problem, therefore, the device will be beneficial to those drivers. The customers will typically be newer, less experienced drivers or students between the ages of 16 – 22. This product will also be beneficial to older drivers who may not as able to address the issues in the same manner like that of an older driver. These customers will typically fall into the category of being a student, a person who works a 9-5 job, parents or beginner drivers.
Customers will pay money for this product because it will save them money from being ripped off from repair shops because they will be able to know exactly what’s wrong with their cars rather than relying on the word of the repairman. This product will also allow drivers to increase the longevity of their vehicles to last the longest that they can with the very useful coaching feature. This product will also improve road safety as it will help prevent unknown hazards from occurring like a blown tire as a result of being underinflated or Collison because some lights bulbs are out in your car.
Some cars handle all these processes that my product does already but my device allows that technology to be transferred between vehicles and gives you access directly to your mobile phone. This device will be able to be purchased from local automotive stores so it will be easily accessible.
These five elements did a great job at providing an overview of the business concept and allowed me to identify areas that I may have overlooked. Particularly, the psychographics section allowed me to dig deeper into identifying the type of customer that I am looking to provide this product to.
#Assignment 11
Continuing Your Opportunity Research
Who: After conducting five additional interviews in regards to my opportunity to save drivers money with car maintenance and repairs, I found that my first findings weren’t an accurate interpretation of the audience this device will tailor to. My additional interviews revealed that more drivers will benefit from this device regardless is this technology is already embedded in their car because it adds the added benefit of coaching them to do additional maintenance items that the car will not necessarily tell them. This data provided the two extremes for my research which would be to use the device provided by my opportunity or rely on the computers in the car to tell you when something is wrong
What: The need that I presented differs from another need related in regards to safety. The need I presented appeals to the driver or consumers saving money and time by properly updating them with the issues on their cars while the extreme side of this opportunity can jeopardize the safety of drivers or other drivers on the road.
Why: The outsiders’ needs are not radically different from the individuals within the inside boundary. Both need something to tell them when something is wrong with their car. The opportunity that I provided adds the benefit of ensuring safety and saving money and headaches rather using the existing technology. The need remains the same: there is a need for a tool that notifies drivers of what’s going on with their car.
| Who | What | Why | |
| Inside Boundary | – Drivers of older model cars or new cars that don’t have the fancy technology
– Older drivers – New drivers |
– Knowledge of when something is wrong with their car and how to fix it
|
– To save the driver money and unexpected trips to the repair shop
– Improve safety |
| Outside Boundary | – Drivers of fancy cars
– Mechanics – Drivers who have maintenance included with their car |
– There is no need for additional software, aside from what is already in the car, to tell the driver what is wrong | – You can get a new car if yours becomes unrepairable
– Follow the service manual and you’ll be fine |
#Assignment 9
The Second-Most Important Part of Entrepreneurship
The opportunity that I presented had to do with saving time and money at the repair shop The solution will be to create an all in one diagnostic tool that tells you all the needs of your car. This device will notify drivers of any problems that may be involved with their car and will assist them in getting it fixed so that they can save money at the repair shop. The device will be a simple dongle that will plug into the OBD II port of the car and connect to a mobile phone application. The app will constantly communicate with the cars’ computer to scan for codes and communicate it with the driver with any faults. For instance, if the drivers tire pressure in the front right tire is low the app will let the driver know exactly which one it is so that they won’t have to run around to figure out which one it is. The device will also coach the driver with routine car maintenance like changing the oil, changing the windshield wipers, and getting an alignment. This will ensure drivers can get the most out of their car. The device can be picked up from the local parts store and will be compatible with any make and model of a car after 1996.
#Assignment 8
Testing the Hypothesis
The opportunity that I present is an all in one diagnostic tool for your car. Every day, drivers are driving around with issues on their cars that they do not know about which leads to costly repair bills if they are not tended to in the correct manner. This tool will give you access to all your vehicles functions. It will allow the driver to know when something is wrong with their car in all aspects. It will give notifications straight to your mobile device that will allow the driver to know what to fix so they aren’t scrambling around when they go to the repair shop.
The need for this exists because there are a lot of drivers who are unaware of the consistent maintenance that a car requires and this device will keep drivers aware of the health of their cars. The device will let drivers know when to get an oil change and when to put air in their tire, when to change the filter , as well as diagnose any problem that may result in a check engine light. This device will plug into the OBD port on a car and sync with a mobile application on your phone.
The Who: Drivers of automobiles
The What: They drive around with car issues that they are simply unaware of.
The why: Their cars do not have the technology to let them know when problems arise and they don’t have the knowledge to properly check for common maintenance issues.
Testing The who: Simply put, many drivers will benefit from this technology because they have the latest model car with loads of gadgetry. The target audience for this product will be for those who have older cars and don’t have any intentions on getting a new car anytime soon. One person I interviewed stated that their car tells them almost everything; even when they are low on gas it tells them where the nearest station is with the prices of the gas. Clearly, they wouldn’t have the need for it.
Testing the what: The challenge that might make this opportunity harder to market is the rate of how fast technology is growing. With the number of new cars on the road and more federal regulations forcing automakers to make certain technologies as standard equipment, people are trading in their old cars for new ones.
Testing the why: One of my interviewees states that she knows nothing about her car. She only knows how to put gas in it. She has a few warning lights on in her car but she doesn’t mind them because her car still starts and drives. She showed me one of the warning lights and it was her tire pressure monitoring light which signified that she had a low tire. She was amazed that I knew that and I expressed to her that she can too if this technology existed. If people continue on with the mindset that they will only take their car to the shop if something catastrophic happens then they will be plagued with huge repair bills.
Summary:
Keith 21, Kris 48, Esther 21, Kevon 21, Ashlyn 20
After interviewing my five candidates, four college students and my mom, I found out some very interesting data. All five agreed that having an all in one diagnostic tool would be beneficial to the average driver but only one stated that it is something that they would not need. My mom was an interesting candidate because she has seen cars through many different generations and finds it hard to keep up with what everything that the car needs or what each warning means. The remaining three stated that they would simply take their car to the shop if they see a warning light come on to get the issue resolved.
I asked the candidates how expensive is their repair bill and their answers varied. The one with the newest car stated that their dealer takes care of all maintenance for their car for the next three years so they don’t have any worries about repairs. The others stated that it varied depending on how old their car was, how many miles they had and if they followed the scheduled maintenance. One of the candidates had to get new tires and replace two control arm bushings because they never have gotten an alignment on their care since they had it for the past 4 years.
The knowledge that I gained from conducting the interviews is that a lot of this technology already exists on newer, more expensive cars.
#Assignment 7
Identifying Opportunities in Economic & Regulatory Trends
– https://www.thebalance.com/top-usa-future-economic-trends-3305666
– I found this article on “The Balance” which discussed the top 5 economic trends in the U.S.
– I’m led to believe that this information suggests an opportunity might exist because baby boomer makes up the bulk of our population. If the boomers continue to work, retirement benefits will not plummet as significantly as it has been projected and might even grow for future generations. This will also allow for employment rates to rise.
– The customer that would most likely be affected by this would be everyday shoppers because companies will not have the issue of being short staffed.
– This opportunity would be somewhat difficult to exploit regardless of the benefit that it may have in regards to social security and other expenses. Some companies may force individuals to retire regardless if they want to or not.
– I saw the opportunity with this trend because I personally know individuals who have officially retired but still continue to work. From the perspective of that individual, if gives them a satisfactory feeling that they are still contributing to society so that it runs efficiently.
– http://time.com/money/5075669/economic-trends-2018/
– I found this article in the New York Times in the money and investing section
– This information suggests that the there is an opportunity for employment to increase and provide jobs for a significant amount of people. The article states that due the increase in interest rates, the unemployment rate has significantly dropped.
– The party that will be affected by this opportunity is job seekers. The economy is significantly better than it was during the recession.
– This opportunity will be relatively easy to exploit because there will be an increased cash flow within the economy that will allow for the feasibility of more jobs. This opportunity will also allow for investors to profit from their savings because the increased interest rates will allow for higher returns on their investments
– I saw this opportunity as I am currently an individual who has money in savings and sees the direct benefit of having interest rates increased. Though if you are a borrower, this may not be as beneficial. As a college student, who would be struggling to find a job had it been 10 years ago, I see the upsurge in available jobs in the current market.
Regulations
– http://en.finance.sia-partners.com/20170514/update-5g-liquidity-reporting-requirements-and-framework
– I found this opportunity after having a discussion in one of my classes about the next generation of mobile technology. With that knowledge, I proceeded to research more about it.
– 5G technology will provide an opportunity for to businesses as well as consumers. It will allow for the instant transmission of data to make processes more efficient.
– The party that would be affected by this the opportunity the most is are businesses
– The opportunity is not so easy to exploit as it will take years to upgrade network systems. It took years for 4G/ LTE networks to get established there 5G is something that will take time to implement as well.
– As a person who currently is a user of 4G/LTE, I am aware of the lag that it has. I have always been told that there will always be room for improvement. From what analyst are saying the that 5G has the possibility of reaching global needs with seconds, it’s clear that the transition to this technology is critical in the future as the current technology isn’t meeting our current demands
– https://www.autotrader.com/car-news/new-backup-camera-rule-cameras-will-be-mandatory-by-2018-223739
– I am a car enthusiast, therefore I keep up with a lot of news related to the automotive industry. I found this regulation after looking up safety regulations for 2018
– This regulatory change will allow the roads to be safer as the National Highway Traffic Safety Administration mandates that all automaker equip their cars with back up cameras
– The party that will be affected by this are the consumers of automobiles. A significant number of auto accidents happen in parking lots because drivers cannot see behind them. This will make driving safer.
– The opportunity will be easy to exploit because automakers will simply have to add it as a standard feature for their cars beginning in 2018. For cars that have been sold before that that do not have back up cameras, they can be easily retrofitted to your vehicle at your local electronics shop.
– I saw this opportunity because I saw the issue that existed before the regulation was set in place. It is my belief that the board member at the National Highway Traffic Safety Administration had the same idea. I am a victim of a parking lot accident, therefore I see the benefit in making back up cameras a federal regulation.
#Assignment 6
OFF The Lot Reviews 