- My targeted customers aren't out there unsatisfied with their unmet needs because they want to, but rather because they have no choice. This unmet need is clean water and a clean source of energy. The people who are in need of this can be found all over the globe, mainly in impoverished areas and villages.
- This opportunity unfortunately exists due to political and economic reasons. Moreover, it has existed for centuries, only it seems more visible today due to new standards of living.
- This bottle can also be sold to survivalists.
Innovation
- A water bottle with a filter already exists. None the less, they are made of plastic and can only filter water. My bottle purifies water (yes, there is a difference) and can provide light (LED strips that are solar powered). Instead of plastic, I am currently seeking out a different material that can be tough and durable yet cheap to manufacture.
- Regular bottles with a filter sell for somewhere between $20-$30 dollars. My asking price would lie somewhere between $40-$50 dollars.
- That is expensive, but what other bottle could do the same?
Venture Concept
- The customers would switch over to my product because it simply offers more. Lightweight and portable, think of this bottle as a powerful solar powered flashlight that you can drink clean water from. My competitors can only filter water, which does not address the biologically organisms (bacteria and microbes) living in the water. My bottle purifies the water, hence taking care of those variables. As a result, this bottle can prevent you from contracting diseases.
- Interestingly enough, I intend to sell the bottles in bulk to NGOs (in the beginning at least). I do this because they already have some sort of established relationships with the locals. NGOs could distribute the bottles more effectively than I can because they know who and where needs the bottle.
- My plan is to give prototype bottles to local NGOs for free in exchange for feedback on the bottle. From this feedback, I can modify the bottle until it is ready to be sold. This final product will be the version to hit the shelves when I cater this bottle to survivalists as well.
- Manufacturing could take place in the USA and distribution points could be held in cities nearby the highest concentrations of NGOs.
My greatest assets are my connections that have actually worked with NGOs and have worked closely with locals in impoverished areas. Through these connections, I can be granted an audience and I could attempt to pitch them my idea. The future of the company is to make the bottles more efficient. Also, I want the bottles to be a temporary solution, meaning that I don't want people relying on them forever. The point is for impoverished areas to receive some sort of temporary relief until a permanent solution could be found, My company seeks to create cost effective permanent solutions (solar panels, water pump,water purifiers, etc). As for me, I want to work for Peace Corp, go to graduate school and then work for a think tank or NGO.
Or at least, that's the current plan.
Hey Gustavo, you seem to have a great opportunity and solution here. You have a good understanding of who to target and how to do so. I really like your innovative concept of purifying water and although it will be slightly more expensive I’m sure it will be worth purchasing in the long run. In terms of your greatest asset I must say that I completely agree with you in your statement of connections as being highly important. I also stated my network to be my most valuable resource, since they will grant advice and enable me to obtain resources. Overall, great job in your post. Here is the link to my “Venture Concept No. 1”: http://susanamorales0129.blogspot.com/2016/03/venture-concept-no-1.html
ReplyDeleteHey Gustavo,
ReplyDeleteYour idea is interesting but I see a few problems with it. First of all, plastic is so popular because of its cheapness and relative durability. How can you be sure that you will be able to find a new material that all these other water bottle companies, including the extremely popular Brita brand, didn't think of? Your initial production costs may be too much and your bottle price might be ridiculous. As far as the opportunity goes, the LED strips seem like an afterthought but good work and best of luck utilizing your existing connections in your business pursuit.
Check out my concept here: http://intro2ent.blogspot.com/2016/03/venture-concept-no-1.html
Hi Gustavo!
ReplyDeleteI really admire the goal of your venture concept. I definitely agree that there is a shortage of resources for people in third world countries who need to have their water purified. I think that your product has a very good costumer market and will have no problem attracting costumers.
Check out my post if you have time: http://kristianasimon.blogspot.com/2016/03/venture-concept-no-1.html
Hi Gustavo,
ReplyDeleteI really enjoyed reading your Venture Concept. You picked a difficult project and I hope that you will be able to implement this. Clean water is certainly something I take for granted. This is more of a social entrepreneurship and you should be great if you take that class. I really hope you succeed with your venture and I see you win an award. Thank you for allowing me to peer review your assignment and here is a link to my assignment if you are interested:
http://hawaiiansnoasis.blogspot.com/2016/03/venture-concept-no-1.html
Hey Gustavo,
ReplyDeleteI think your game plan sounds well founded. Starting off with Peace Corps may give you a better international perspective and some good networks so as to easier take off your business idea. You have definitely taken steps so as to separate yourself from competitors, as far as product design and quality, but I am wondering how else you may separate yourself? What marketing techniques could you implement so as to stress your business mission? How could you build better relations with your customer base?
Overall, well done as always! Keep on kicking butt!
- Angela