What's Next?

Existing Market

1. The next step in terms of products and services is gathering an inventory of jerseys. It is necessary to have an inventory large enough to satisfy our members. 
2.  Mark told me that he thinks customers would want more than two jerseys at once. I responded that we could potentially expand to offer more membership packages. Mark agreed that I would need to build up a massive inventory. I then spoke to Steve. Steve said that he would want the memberships to be cheaper, potentially around $10 per month. I told Steve that cost is one of our top priorities. The last person I spoke to is John. John's biggest concern was getting investors and funding this idea. I told John that we would need a lot of financial backing to get this idea off the ground, and that the first few years would be an uphill battle. Mark, Steve, and John are all in college and fit my target market.  
3. In terms of growing our existing market, establishing a social media presence will be vital in the immediate future. Since the target is males aged 10-30, this group is most often using their phones. I would launch campaigns on social media, run advertising during sporting events on TV, and emphasize the growing popularity of the company. 

          Next, I would focus on gathering as many investors as possible. For this idea to flourish, we would need significant financial support to build a website, distributing centers, and inventory. I believe that the venture is promising enough to attract some Venture Capitalists and other investment groups.

New Market

1. Instead of targeting a low income market, I will try targeting an affluent population. 
2. I think my jersey-rental idea still applies to the wealthy. Everyone, no matter what class, loves sports. Although they may be sitting in the owners' box instead of the balcony, everybody is still watching the same game. One thing that generally classifies all affluent people is that they are smart about saving money, very frugal people. This is obviously a cheaper option than purchasing a jersey, so it seems like a winning situation for everyone involved, regardless of social and economic status. 
3. Bryan is a student who comes from a family that falls within this new target. Bryan told me that he would want something that is unique, something that separates him from any ordinary fan. With that in mind, we discussed potential unique jerseys that are limited to a certain level of membership. I then spoke to Alex. Alex is in a similar situation to Bryan. Alex is 30 years old and comfortable financially. Alex recommended a higher level of membership that would allow him to have more than two jerseys at a time. These suggestions are easily feasible for the company. 
4. The biggest thing I noticed from this exercise is the new market's preferences. Despite still being within the same age group as my original target population, the new market said they did not wear jerseys unless attending a sporting event in-person. Now, this could be a lack of a sample size with only two people interviewed, but it could also be a sign of a stagnant or discouraging market to target for my idea. 

          While this information surprised me, I also learned that this new group would be willing to spend more for better service. Having separate membership tiers would help classify different markets based on what they can afford to spend. With this in mind, the new market does not appear nearly as attractive as the existing market, based on their demand for jerseys and the potential of alienating certain economic classes.