Week 9 Reading Reflection

1.     The concept of guerrilla marketing really stood out to me. I thought it was a totally awesome concept that blew my mind. This practice is about the use of nonconventional tactics in research, and I admire the unorthodox, so this was great to learn about.

2.     The concept of “secondary data” confused me. What is this? All I understand is that it is data that has already been compiled, but what really does that mean?

3.     One question I would ask the author is: “Does primary data exist?” If he answers that it does exist, I would follow-up asking, “What is the difference between primary and secondary data?” Finding out this difference would really help me understand what secondary data is.

4.     The author talks about start-up ventures as if they are always created under the same circumstances and how they are always resource constrained. Well, I disagree with that. Some wealthy people start-up ventures with seemingly unlimited capital. My good friend worked this past summer in New York City for a start-up company that was under ownership and control of a very wealthy man who had already created many businesses very successfully, so he had many resources.

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

My degree from the university of florida being finance along with my background of being a nationally ranked speech and debate competitor can allow my company to grow extremely in the future. If i were to start my company however i would need to hire people with a technology background to allow the app and other aspects to grow. 

College students. 

No car

Chipotle

The reason college students without cars are the targeted consumers because they all wanted chipotle from the 10 interviews I conducted and they love cheap delivery fees 

The reason college students would use my product and pay me money is because since they have no other way of reaching chipotle, they must bring it to themselves at a price they all are willing to pay

From what I am aware of in Gainesville alone, there is yet to be a large chipotle delivery system which makes my product and company a unique invention. 

These five elements all fit together extremely well. Once I have a running company when I graduate i will be able to oversee all of it and make the best deals possible. Then having a tech expert create the app and get this show running the company builds itself. College students will be drawn to low prices and the day they are craving chipotle they will begin to order it online over and over again bringing back the money for myself and tech expert. 

After looking at the feedback i received throughout this planning, nothing much was really changed. many of the response just stated how they love chipotle and would buy my product. They stated that they have seen other companies with this idea but never stated which and from my knowledge there are none.