Thursday, June 28, 2018

19A

  • ·    My name is Iara Dircie and I am a rising fourth-year student at the University of Florida. My undergraduate degrees are in Business Management and Political Science but I am also doing a combined Master’s program in International Business. I am hoping to manage my own company one day and this business concept will assist me in getting to know the life cycle of a business idea.
  • ·     The product I am offering to customers is an ignition lock that prohibits intoxicated drivers from turning on the engine of their cars. Upon entering one’s vehicle, the driver would have to use a breathalyzer to determine if they are capable of driving their car. If the driver’s blood alcohol content is below the legal limit, the ignition lock would allow them to turn on the engine. However, if the driver is legally drunk, the ignition lock would turn on and prohibit the vehicle from operating until someone passed the breathalyzer test. There are also ways to turn off the ignition lock at some points during the day but it would be mandatory to have it on during the weekends.
  • ·     This product would be sold to car manufacturing companies that could install the product in vehicles before selling them. We would also sell this product to people who already own vehicles. These customers would have to pay for the product itself as well as the installation fees which we hope will be subsidized by organizations advocating for driver safety. This product would be mainly for alcoholics but we also want every person who consumes alcohol to receive an ignition lock.
  • ·      Customers should purchase this product to ensure their safety as well as the safety of all their fellow drivers. Statistics show that the highest percentage of car related deaths occur from drunk driving and this ignition lock will help reduce the number as much as possible. Because this is such an important cause to so many people, many organizations that promote safe driving will subsidize the cost of this product, thus making it affordable for all and easy to adapt to. In order to make my customers care more about buying the product, I will focus on marketing the product from an emotional perspective in order to convince consumers of the necessity of this product. By attaching this emotional element, more consumers will feel obligated to buy the ignition lock in order to prevent future heartbreak resulting from alcohol induced car accidents. 
  • ·      This product is very different than products that have been created in the past. It offers a service that is so rare to find, safety. By only taking out a minute of their day, our customers can ensure the safety of millions of civilians. Also, I would reach out to numerous sponsors in hopes to reduce the cost of this product significantly so that purchasing this product is not seen as a financial burden to anyone.
  • I think that all of these products work nicely with one another because the product that I am offering is something that all customers who own a vehicle can buy and most of them will want to buy it when the realize the positive effects of the ignition lock. For the most part, the biggest reason to buy the product is to create a safer environment and most consumers are determined to realize this goal.
  • Although I did not receive too much constructive criticism, the biggest comment I got was to add an emotional element to my marketing in order to persuade the customers to buy my product. If I were to shoot a commercial showing a deadly accident caused by drunk driving and then were to show a different scene as to how this would have been avoided with an ignition lock, it is more likely that viewers will feel an emotional obligation to buy my product. Another point that I got feedback on was the fact that I decided to sell the product straight to car manufacturers. My peer commented on the fact that this was a strategic business move and would bring in more cash flow and popularity to the product.

3 comments:

  1. Iara,

    I agree with the last bit of criticism. With a product like this you want people to feel it. There needs to be a guttural reaction whereby the viewer of the marketing campaign feels compelled to champion your product. I think if you can reach that level of awareness your product could sell itself.

    You could also be more subtle with an emotive approach and I still think it could have the same power.

    Thanks!

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  2. Great post Iara. I agree with David in that an emotional aspect will greatly help your product. I think your product is truly a great idea and is much needed but it can be hard to market it to your segment. Therefore as you suggested something like a commercial that will capture the emotion and attention of the customer will more likely evoke them to take action and buy the product.

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  3. Your product has the edge for marketability. It provides security to the public at low cost and it will lead you to great savings in the long run. Imagine you get pulled over by a cop, go to jail, pay bail bond, and get your driver’s license revoked or suspended. The opportunity cost is so high that many customers would believe it’s a wise investment decision.

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