Existing Market:
I think what is next in terms of products for my venture is
maybe focus on making homemade cat toys. While the toy design we have now may
interest cats, they are mostly geared toward dogs. So the next step is to
research and design a toy that will be geared towards cats.
All three of the customers that I asked all mentioned having
more toy designs further on. However, they still need to be relatively easy to
make if we want organizations and families to make homemade toys. They also suggested
making direction videos of how to make the toys so people could read the
directions and follow along in a video. I asked them about moving into more
cat-related toys to donate, and they liked that idea. But they specifically
wanted more dog toys because of those last a shorter amount of time than cat
toys.
I think, for now, we will launch with only a couple of
designs, but as we hopefully gain more traction, we can expand the homemade toy
line. I think, for now, the non-profit will focus on donating toys in the
surrounding shelters in Alachua county and focus on getting volunteers directly
from Gainesville. First, build up a relationship with the shelters and people
here before moving on.
Once we have built some success in the local area, we can
donate more to other shelters around Florida. In addition to giving more toys,
hopefully, we can spread our message outside of Gainesville and have people
make homemade toys all around Florida. Once we are more established then we will begin to implement new toy designs.
New Market:
Since the market I am targeting is animal shelters and
making toys specifically for animals, it is hard to come up with a radically
new market. Maybe instead of targeting animal shelters, the non-profit could
focus on donating the toys to lower-income families with animals. Those
families that perhaps cannot always afford to continue to purchase new toys for
their pets but want too.
Our toys will provide value to them because it will help
with taking care of their animals. Most people regard their cat, dog, or other
pets as their family, so not providing them with the necessary stimulation can
be heartbreaking.
The two people that I interviewed liked the idea of the
non-profit but suggested that animal shelters would be the better market to
target. While they would appreciate the donations, both felt as though they
took the responsibility of providing for their pet, and therefore they should
purchase the toys. Also, most of their animals still have old toys that they
play with.
Reflection:
I wasn’t surprised by their answers. To me, it was a
longshot anyway. While these people may need toys, they want to be able to
provide it on their own. The beauty of shelters is that there will always be
animals incoming and a shortage of toys. With families, those toys may not go
as quickly, depending on the pet they may have.
Because of that reason, I do not believe that this market is
attractive. They do not have the same urgency and constant need that shelter
has. Plus, shelters depend mainly on donations and typically don’t have a lot
of extra income to spend. Lastly, since the toys are homemade and constructed
using old material, they could make the toys if they wanted too, while shelter
volunteers and workers do not have the time.
Hi Taylor,
ReplyDeleteCats need love too! There are more homeless cats than dogs due to the larger litter sizes and less domestication. My cats love toys and love to play with me. I would definitely buy cat toys from a non profit organization that saves animals on the daily, solely because I want contribute the few dollars that I can to help. I think your target market, animals shelters, are the best way to help keep animals without a home or anyone to play with happy!
Hey Taylor, great job on the assignment. I really like your idea about designing the toys and I think it has potential. I also agree with you that the new hypothetical market you made for low income families seems as it might be out of reach or mainly that it just won’t be as effective as the other one. It is a very good idea as its helping those in need but due to the facts you mentioned I agree with your view on the idea.
ReplyDeleteHey Taylor,
ReplyDeleteI think that both the idea for your expansion of your existing market and the idea for your new market are great and effective. Though cats are less popular in the US than dogs, they are a rising market and are becoming more and more present in shelters and homes. So I think that would be the natural leap in your business. Also, though they are less likely to make donations, many lower income households have pets as part of their families and are also in need of toys for them. I think it would be incredibly sweet and altruistic to meet their needs as well. After all, that is the nature of a nonprofit. You won't make money, nut you will definitely create a positive change in the community.