Currently I am targeting a middle class market. People can afford houses and have extra money to spend on plants to use at there house. There are two different markets I could target next. Either commercial or a poorer people. I believe that the poorer market would be a better market for my company because I think commercial places will hire local landscapers to install plants. Only way I could sell to commercial places if a company needs orchids for desk or two plants for inside the company. That is the only part of the commercial market in which I believe my company could compete in. If I was to target a poorer market of residential only way I believe they would buy is less volume or lower prices. This will hurt my profit margins, however if remain profitable on these sales then I do not see a reason not to do them.
I think I could sell to a poorer market by have a section on my website with cheaper plants. I believe that they would buy them if the prices were cheaper than a garden center. I still want to remain profitable, but there are variety of plants we could sell cheaper so I believe I will be able to sell to a poorer market. I would like everyone to be able to enjoy plants through my website.
I interviewed two people from a poorer part of society. One was a 21 year old girl who works a low paying job. The second was a male who was 25 year olds.
From these two interviews I learned a lot. I learned what they would like to see from my company coming from a poorer background. Two things I took from these interviews was that they would like affordable plants and plants that last a long time. Since they are on a budget they wouldn't like to buy a plant if it died in a week. So my solution to this is just to have plants that are affordable, live long, and are easy to take care of. I was not really surprised by this. I kind of expected them to answer this why. However one of my interviewers said they wouldn't buy paying extra if they did thing the plant was nice and worth it. They also said it really just depends how much the poorer market has a interest in plants. I do not know if this poorer market will be a big market for me but it may offer some sales.
Hey Dylan,
ReplyDeleteThis is a well thought out and descriptive plan you have. I am impressed how well thought out your objective, venture, and research has come along. You have been able to put together all the work this class has made you do and turn it into something that has a real possibility of becoming a real life development. Now your next step would be to fund it and push forward with a business plan.
Awesome post. I think appealing to a commercial market might be an easier way to go because you can wholesale your products and it will be easier to market versus trying to make a profit by appealing to those who are on tighter budgets. Great post and it sounds like you interviewed all the right people!
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