Existing Market
Step 1: In the near future I will continue to seek new ways to become sustainable and eco-friendly. Hopefully I will be able to further develop my existing products, and have a whole new list of products ready to introduce to my market.
Step 2: Interviews conducted with Hannah Waxman, Ishmael Rodriguez, and Marc Veinstein. All three of them are college students at the University of Miami. They happen to have their own sustainable brand, which focuses solely on swimwear. They have been established for three years now. They stated that they have a seen a huge spike in sales this year due to many people becoming aware of the eco-friendly and sustainable trend.
Step 3: Based on my own expectations and feedback received from others, I believe I am a solid path as it stands. I will continue to gain exposure through environmental awareness events, while demonstrating my products to my market. I will stick true to sustainable practices and will not attempt to find any loopholes. My only concern is the amount of time it will take people to realize the switch must be imminent. We do not have time to waste, and I will do everything I can in order to get the word out. This will include blogs, social media posts, and news media involvement if possible.
New Market
Step 1: I have considered the possibility of selling to restaurants, hotels, bars, clubs, etc. If any of these businesses are interested in becoming eco-friendly and sustainable, it would certainly open up a completely different channel for me.
Step 2: Businesses in hospitality will surely gain positive press and reviews from making this switch. In this day and age, companies are rewarded for going above and beyond to ensure they are fulfilling their ethical responsibilities. This could lead to more visitors and higher ratings overall. Along from that, these businesses will know they are more of an impact than a single person. Some of these businesses will use hundreds of pounds of un-recyclable plastics in a day. The footprint following the switch would be reduced drastically.
Step 3: Mike Batt & Jason Slim own several hotels in South Florida. At times, they oversee the inventory departments of their respective hotels. Luckily, I was able to meet with both of them at the same time. We compared several aspects of their inventory departments and the amount of waste they produce on an average day, They were both highly interested in the idea of going partially, and eventually fully eco-friendly.
Step 4: This market would surely see me go through a lot more product than I could probably handle at this moment. However, I would love to eventually have the resources to establish myself in this market. This would also allow me to demonstrate my ideas on a larger platform. With hundreds of people going in and out of restaurants, hotels, bars, clubs, etc..., I would be able to reach a huge range of new people. This would also result in a much larger impact than selling to individuals. As a result, I believe this market is more attractive, but something I would like to research a little bit more before completely diving in.
Hey Yehudy, great post once again. I always enjoy reading what you have to say and I am very interested in your companies ideas.Your idea of a new market being in hospitality is probably the best route to go. If people are given the supplies without the alternative they are more likely to see its benefit. We are about to head into the single use plastic ban here in Gainesville so it will be interesting to see how that turns out.
ReplyDeleteHello Yehudy this post was great. I love how focused you are on your idea and how you want to develop it. You mentioned how you were worried about how long it will take for people to notice, i think you are in the right path, your idea has been perfect from the beginning, i think ads would be really helpful to get your idea out there, social media is the perfect way to expose your movement. I believe the number on people who would like to do something to help the environment is increasing and also plastic ban regulations will benefit you as Sierra mentions, good job!
ReplyDelete