25A- What's Next?

Existing Market 
Step 1:
The existing market is the UF bookstore, and online websites where students can purchase textbooks from. There are many places students can purchase textbooks, but in Gainsville outside of the UF bookstore there is not much.
Step 2:
Customer 1: Joshua Cruz, Sophomore Finance Major
What do you believe is next for a textbook company?
     -To keep expanding to other areas or universities across the country.
What should we be doing that we aren't planning to do?
     -Incorporate fun activities that come along with buying the textbooks.
How do you feel about customers wanting a free tutoring service with purchasing books or a trade in method? 
     -He thinks that is a great idea ans something he would do is trade old books in to go to the new ones.

Customer 2: Aleena Ruscella, Junior Bio Major
What do you believe is next for a textbook company?
     -She believes there really is not much next for the company. Once settled it would be hard to come up with something new or next.
What should we be doing that we aren't planning to do?
     -Host events with food that bring people in.
How do you feel about customers wanting a free tutoring service with purchasing books or a trade in method? 
     -The tutoring service would be nice and something useful for students who are struggling.

Customer 3: David Combs, Senior Marketing Major
What do you believe is next for a textbook company?
     -Open several locations around the area, branch out to high schools.
What should we be doing that we aren't planning to do?
     -Have more discounts for students to bring more revenue in.
How do you feel about customers wanting a free tutoring service with purchasing books or a trade in method? 
     -He feels that is a great idea and a decision maker for him. The tutoring would be useful and he can save money each semester by trading in.

Step 3:
What makes the most sense for growing with the existing market is to branch out to other universities. After settling at University of Florida and having success, the company could branch to schools like FSU or USF and continue to grow if it keeps succeeding. I have conducted interviews throughout the semester for students from other schools who all showed interest in the service.

Another good way to grow would be target high school students and the textbooks they may need for school. High school can be difficult due to most textbooks being issued to students, but there are some cases the students have to go buy books such as ACT or SAT where my company could come in. This can be a way to grow and branch out further as a whole.

New Market
Step 1:
The new market my company could target could be toddler books and kids books. .

Step 2: 
The service could be a renting service where parents can rent books out and return them along with games/toys for the children. Parents could come in and select books that the children can read that come with toys specifically to the books. Examples of this could be cat in the hat or dinosaur books. Parents can rent out the books which come with a cat in the hat plush or toys that have a bunch of dinosaurs.

Step 3: 
Interview 1: Amy Jackson, Mother of a 4 year old son in Tampa
How will my business relate to customers like you?
     -She thinks there is potential in the idea and something she would use for her son. The concept of having toys related to books is what she really likes.
What should I change to make the service better?
     -Keep up the culture trends or mainstream shows as children tend to love the popular stuff. One example would be fortnite.

Interview 2: Jonathon Luther, Father of a 5 year old son
How will my business relate to customers like you?
     -This is a great idea as it is simple and easy to buy. He stated its like an all in one service for his children to entertain them and the idea to rent is perfect.
What should I change to make the service better?
     -Talk to parents more to see what the children want in terms of books or toys.

Step 4:
What surprised me the most is how parents were so accepting to the idea and agreed. They said its an all in one service that makes entertaining their child easier and something they would have interest in. My assumption that was correct is how kids would like to have a book and toys that are related to each other. This allows them to read the book then play with toys that are what they read.

The new market would be tough to attack so no it is not that attractive to me in terms of entering. I think I would have a lot more success with textbooks for college students as the demand is just so much more in a span of 3-4 months. The renting service would be more active generating more funds for the company.