25A – What’s Next?
- Existing Market
1. The next step for Kash For Kicks would be to get in contact with all of my possible vendors that I personally know will lots of inventory of shoes and clothes to make sure that I have this part of my store ready for when it opens on its first day of operations. I will need all the inventory I need in case of large costumer amounts enter my store.
2. After speaking with my three interviewees, I got to learn more about what my costumers actually want from a store like mine. The three people I chose were people who enjoy street wear and said that they would love a store like this in Gainesville. They love the consignment concept of my business and being able to make quick cash instead of selling over the internet. My final interviewee said that to just make sure you market strong enough on social media to gain as much following as you can.
3. Based on my own expectations and the feedback that I received, I believe what would make the most sense for my venture to grow at the fastest rate in the future would be to collaborate with other people who enjoy street wear culture. My future will be very bright and successful if I take proper advantage of all the people that I know out there. I believe in the fact that it is not always what you know, but who you know. Overall, I look to expand my stores into the west and north like in NYC and Cali.
The feedback from my customers visualized the importance of meeting all different types of customers needs. Such as, making the store accessible with disabled cart paths and also a proper and safe location for people to shop near. Through these recommendations, I was able to adjust my business concept to a more unique and durable type of store location that will prepare for more circumstances.
1.A radically different market target that I am not currently targeting would be people who do not enjoy high fashion. This would be an entirely new segment that would ultimately alter what my store is standing by. If I included normal attire like that could be bought at JCPenney, then I would not be following what I had in mind.
2. By persuading people into what high fashion means, I would be able to make people realize what makes people pay these high prices for clothes and shoes.
3. I interviewed two people at my job who do not care for street wear items. One 23 year old lady said she enjoys fashion but in order for her to pay a premium for these pieces of clothing then I must have more reasonable and higher priced items in my store. The second male interviewee was 19 who does not appreciate fashion and said that if there was more than just clothes and shoes, like Off-WHite Furniture then he would visit my store.
4. What surprised me the most about this new market was that there would be a limitation ultimately as to who I am trying to come into my store. I would be eliminating people who do not like paying lots of money for shoes and clothes. However, if I make some adaptations this market could be very beneficial to me.
My store needs to be more appealing to all sorts of people that have a sense for fashion and who do not know what to wear when they wake up in the morning. However, I still want to focus on the name brands that are affordable and make people realize the quality they are getting is worth the money they paid.
3. Based on my own expectations and the feedback that I received, I believe what would make the most sense for my venture to grow at the fastest rate in the future would be to collaborate with other people who enjoy street wear culture. My future will be very bright and successful if I take proper advantage of all the people that I know out there. I believe in the fact that it is not always what you know, but who you know. Overall, I look to expand my stores into the west and north like in NYC and Cali.
The feedback from my customers visualized the importance of meeting all different types of customers needs. Such as, making the store accessible with disabled cart paths and also a proper and safe location for people to shop near. Through these recommendations, I was able to adjust my business concept to a more unique and durable type of store location that will prepare for more circumstances.
- New Market
1.A radically different market target that I am not currently targeting would be people who do not enjoy high fashion. This would be an entirely new segment that would ultimately alter what my store is standing by. If I included normal attire like that could be bought at JCPenney, then I would not be following what I had in mind.
2. By persuading people into what high fashion means, I would be able to make people realize what makes people pay these high prices for clothes and shoes.
3. I interviewed two people at my job who do not care for street wear items. One 23 year old lady said she enjoys fashion but in order for her to pay a premium for these pieces of clothing then I must have more reasonable and higher priced items in my store. The second male interviewee was 19 who does not appreciate fashion and said that if there was more than just clothes and shoes, like Off-WHite Furniture then he would visit my store.
4. What surprised me the most about this new market was that there would be a limitation ultimately as to who I am trying to come into my store. I would be eliminating people who do not like paying lots of money for shoes and clothes. However, if I make some adaptations this market could be very beneficial to me.
My store needs to be more appealing to all sorts of people that have a sense for fashion and who do not know what to wear when they wake up in the morning. However, I still want to focus on the name brands that are affordable and make people realize the quality they are getting is worth the money they paid.
Hey Matthew,
ReplyDeleteI think you did such a good job identifying first, your market that will be your bread and butter, and a group who might not initially come to mind when you think of high fashion fans, but you have to realize that people who don't love and appreciate style still need clothes too. Taking advice from them and building your business a little bit towards them will help you out for sure. Nice work!