What's Next

Existing Market: The existing market I'm trying to capture includes Students who do not own or do not have access to a bike.

Step 1: Current Idea: Currently I'm offering students a new way of transportation, in which students can rent a bike from one station and return the bike to any other station.
Here is what I want to do next: The next product I'm offering is an attempt to expand my customer base by marketing my product as a fitness device. The next item I'm offering stems from a partnership and sponsor that's similar to a Fitbit, in which students can now track their bike mileage, calories burned, heart rate, and other features that Fitbit offers.

Step 2: Here is what customers thought of instead of my idea or what I might add or change instead to possible incorporate new students into market who already have met their needs:

Step 3: 
In my first interview, Audrey wanted me to focus on more on the market to see what level my demand actually is from people who do not have access to a bike. Like her, Audrey doesn't have a bike and she just does not want to bike and would rather walk. Instead, Audrey would rather have a more focused projection on the numbers of actual potential customers. In my next interview, Ben, there was also not much more I could offer him because he simply prefers walking and just does not want to bike around campus. However, in my third interview, Brandon said I should capture more young students by starting off by selling semester passes at preview when parents and young students are eager to buy new things that might be beneficial for them. 
For the future, a good point was mentioned here. I need to remain marketable and capture which customers I actually have a chance of getting to use my product. First, I need to focus on this group, before I can try to outreach my program to students who might not have initially used this program. I think having a good marketing platform of potential uses for my product can help encourage more students to participate.


New Market: 

Step 1: Students who already own or have access to a bike in which I'm trying to get them to ditch their own bike and use my service.

Step 2:
A lot of people are routine and enjoy the normal schedules that they have. Because of this, it can often be hard to get people to change what they are doing for something else. In this circumstance, the best way to capture this audience was to market the other ways that this product could be used, such as a fitness or recreational product that you can do with your friends. Also with my idea, these students would not have had to buy a bike in the first place. Here are the ideas of what they proposed rather than my Fitbit idea to possibly get them into my market.

Step 3: In my first interview, Olivia talked about incorporating a sign-up program for the beginning Fall of each year by adding a booth at preview to sign students up early when parents are eager to throw money at different opportunities. This way, it can help contribute to start-up and maintenance for each new year. In my second interview, Jeremy talked about adding a few double bikes where friends can ride and bike together for recreational purposes. In this way, we are also continuing to build on the community standard that we create here at UF.  Lastly in my third interview, Malik thought of an idea about adding a point reward system to encourage people to ride more miles, in which points can then be traded in for things such as food or discounts.

I learned that people don't always like change, so breaking into this new market might be a little hard. I may just have to wait till this market fizzles out a few years after my program was initiated. With my idea, I'm trying to get rid of this market in its entirety by stopping consumers from purchasing bikes or bringing their own bikes from home. Once students who want a bike but do not have access to a bike are ready to use a bike, they will then be able to use UFBIKE's and my program will see an increase in sales and use.  In my existing market, I expected more people to want to use a bike to save time, however, it seems not everyone agrees with that. 

This new market has lots of potential to become a part of my existing market. If my idea was implemented, students would be able to get rid of their bikes and sell them. With this, students would no longer have to maintain their bikes or worry about them getting stolen.