25A – What’s Next?

Existing Market:
After talking to potential customers on the street regarding my product I have set sights for a new direction the company can potentially pursue. While my product currently provides protection for the mail customers suggest I provide increased protection with the use of surveillance cameras. By
expanding into this new product line their could be potential for even increased security of your items as you can see when they have been delivered or if someone has tried to tamper with your secure container. I would have these cameras be view able on mobile devices with an app. This would allow customers to see exactly when their product was delivered and from wherever they want.

New Market:
With the new product of security cameras and apps, my company could invest into a data storage facility. This could be used to host data from security cams we have currently been selling as well as sold to other companies as a cloud storage facility. This new market of data storage would let us target other data heavy companies. This would create value by letting the companies rent data storage for a period of time.

Before going into this I knew very little about data storage. After consulting with my interviewees, they suggested I find customers by talking to local businesses or franchises that may want to use this product. Something that surprised me about this market is that there is limited competition with these data storage facilities and it is a tough market to breach into. This is because the larger companies can give lower rates as they have a strong base of customers. This new market seems less ideal than previously thought and I would keep my venture in its current state instead.