25A What's Next?

Existing Market

I offer most products available at your local CVS or Walgreens, allowing customers to have everything they need at the touch of a button. As time progresses, I will focus on adding more delivery boats, larger delivery boats that are able to bring more, and a larger variety of products offered. 

After talking to customers, I have realized that they are more concerned with the pricing of the products and delivery rates. I have come to the conclusion that I will need to create relationships with lesser known brands to establish deals/discounts to use as my products. I have also considered buying in bulk at a warehouse like Sam’s Club or Costco, where I am able to sell individually for a much higher price than what I purchased. I have also considered offering a deal to the local marina, where we would advertise their business and service in exchange for free gas; making my only cost to be my product and employees. 

The most important thing to my market and business is advertising. While I know most marketing will be done through word of mouth, it is important I am making myself known, especially to tourists. I will dock my boat and/or drive slowly around the major islands. I might even stop on a few islands and walk around handing out business cards with some sort of sample product. My customers have made it clear that they would pay reasonable prices and would tell as many people as possible. 

New Market

The new market I decided to try were people without boats. Now, my business is a boat delivery service, so targeting people without boats is quite difficult. I decided to lean towards the people that spend their time on bridges, docks, or small beaches off of the intercoastal. With a smaller type of boat, I could easily come up to shore and have my products available. 

After speaking to people who belong to this market, they were quick to say no to paying for a delivery fee, as they are already on land in close vicinity to other convenience stores. I decided that this market might be an option if a delivery fee was not charged. As for other customers who would be ordering through the app, this specific market could have the boat come to them. I could create a schedule, where at certain times of the day I would make stops at popular beach approaches, bridges, or other fishing spots. This way, customers who may not have as much money or own a boat, would be hit with the convenience of products offered at a cheaper price. 

This market is definitely not as attractive as my existing market. Although it is possible to cater to the new market, it wouldn’t be worth the time and labor for the profits earned. I think my business is to specific in order to change the market. The only other idea that would be somewhat successful would be to change the entirety of products offered, as in turning the store into a fish/bait/tackle store, targeting fisherman.