Thursday, February 7, 2019

Testing the Hypothesis- Part Two (Assignment 9A)

My opportunity for this class is fixing the problem in today's society where people are not wanting to be plumbers and electricians and, therefore, there is a shortage of them in the market, calling for higher fees and less quality work.

Who: After talking in length with my five interviewees, what I noticed about who fell outside the market for this service is a small group of people who already have this service in place due to a friendship or recommendation. All 5 of the interviewees did not have the problem I am focusing on because of a friend, relative, or client has referred them or recommended them to a cheap, efficient, and quality company that does the job they need. Even though these 5 people were all in the income level and target market I chose in the previous assignment, they had a slight advantage or difference compared to the majority of that target market, making them not have my identified problem. After trying to see why else this distinction occurred, I found that recommendations and referrals were the most common reasons as to why these people and others alike did not have this problem.

What: This was somewhat hard to try and discuss with the interviewees, however, what I got from it was pretty simple. They all made it seem to me that having working electricity and working water are pretty much needs in today's day, therefore, people will be willing to pay whatever is needed in order to get those things working. This lead them to agree that if I can supply this service at a cheaper price and with better quality than the current competitors, then I can make a very good business with this. The fact is, water and electricity are needs in today's society, these needs come almost first in someones list of needs and, therefore, it falls quite high in someones priorities of day to day life.

Why: As far as why these interviewees need was different from the other interviewees and others in my target market are due to their unique personal relationships. The need is exactly the same in the sense that they all need plumbing and electrical help with their houses or businesses, but that some have personal relationships that lead them to have this need fulfilled already. This need is inherent in everyone's life that owns a house, and the only difference in the company I plan to create is to target upper class people that are overpaying, or simply struggling to find someone at all to do their plumbing and electric work.


Inside the Boundary
Outside the Boundary
Who: Upper class, New to community
Who: Lower class, Knows many people who work in the services, upper class that have these connections
What: Service for plumbing and electric work
What: They don’t have a need for a plumber or electrician because they know how to fix problems or have a friend who can
Why: Less employment in this sector in recent years.
Why: They have knowledge of people who can fix all these problems, therefore, this problem rarely occurs in their situation.













1 comment:

  1. Hey John,
    I think that you made your target audience pretty clear with this information, I definitely agree that this idea will work best with the upper class. I think you should be more clear on exactly how you will find these people throughout the country, and if there really is a large enough market to turn a profit with this concept. Overall, great idea, I think it has a lot of potential.

    ReplyDelete

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