Segment Selection:
The segment I'm focusing on in this post is 18-25 year old males who are prone to wearing jerseys often. This group is likely to wear jerseys more frequently than any other group of people. These individuals are avid fantasy football players who also attend parties and many sporting events. This age group does not typically have a lot of cash to spend on jerseys, so they are likely to be interested in a rental-service instead of purchasing.
Interviews:
1. Jason: After sitting down with Jason, it became quite clear that he would be an ideal consumer of my subscription service. Although he does not attend many sporting events, he is in a very serious fantasy football league where every person owns several player's jerseys. Jason says he owns jerseys of two current players but wants another jersey. However, being a college student he cannot afford a jersey right now. He would subscribe to a jersey rental company if it meant only spending $10-$20 per month instead of the expensive costs of purchasing outright. By paying about the same amount as purchasing one jersey, Jason could have access to any jerseys he wants.
2. Michael: Michael was the most encouraging interview I conducted for this idea. Michael checks all of my boxes: He plays fantasy sports, he is an outgoing person and attends parties weekly, and he attends at least one sporting event ever month. Michael is the ideal candidate for a jersey-subscription service. Michael said he would wan to be able to modify his subscription plan to limit his rentals to certain months, to focus on football mainly.
3. Tyler: While Tyler admitted he does not play any fantasy football nor gamble, he does attend several sporting events. He was somewhat confused about the idea of subscribing for jerseys, but he currently subscribes to Spotify Premium, Netflix, and GameFly. After a lengthy discussion, Tyler said he would be interested and likely to seriously consider subscribing for jerseys.
How I would Describe this segment:
This segment is the primary market I am aiming to target with my jersey-subscription service. I understand that this is the group that will make up the bulk of my subscribers, so it is crucial to understand and hone in on their needs and wants. Appealing to this market is the first step toward success in this endeavor.
Greg,
ReplyDeleteI think you are on the right track in terms of figuring out your market. I liked that you narrowed it down to a certain age group with certain habits of gambling and enjoying sports. This market has the most opportunity for finding potential customers and these interviews seemed promising from the results you detailed in your post. In future interviews, I would ask people how long they seem themselves renting the individual jerseys before sending them back in.
Hi Greg,
ReplyDeleteI like how you set a very focused target segment and found your interviewees/potential customers accordingly so that you can do more research on those people. As your third interviewee mentioned, I feel like the concept of subscription for jerseys may be confusing to some people, so think about how you would explain the idea to your customers. It should be fairly easy to access the service for you to actually have people pay for it, unless all the people you’ve attracted would leave.
Hi Greg,
ReplyDeleteI believe that you have identified the core market segment that would be the 80% of your revenue from the 20% of the total market. I agree with Logan that it was a great idea to narrow down the market segment even further by adding the characteristics of having gambling habits and enjoying sports. Great job narrowing down your business concept a step further.