25A

Existing Market

• For the future, I would like to continue searching for ways to make streets safer for all of those around us. I would broaden my horizons to include ways to ensure car safety not only for intoxicated drivers, but also for all types of drivers. Therefore, I would like to create and install new safety features for vehicles. These would also be sold in a similar manner to the ignition lock; either car companies can choose to buy the product and install it in their vehicles during the production phase or drivers can purchase the product and install it themselves or pay an additional service fee to have one of the company's employees install it for them.
• Out of the three people I interviewed in my existing market, two of them told me that I was doing an incredible job and they did not think that I needed to add anything to my product. They felt that I should focus on the path to preventing intoxicated drivers from operating vehicles and stick to that group. They told me to do this because I will have spent so much time and money on figuring out that clientele that it would be a waste to not create more products to benefit that specific group of customers. However, the third person I interviewed told me to expand my market and sell products for all types of drivers, not just those who drive while intoxicated. He told me this because there are only so many products that one customer can buy and the clientele group of drunk drivers is rather small in comparison to all drivers so he recommended I focus more on those customers.
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• After discussing my future plans with the people I interviewed, I realized that it might be best to start off small and then expand my business as more revenue comes in. This means that I would spend additional funds on research and development to really get to know my current customers and determine what their wants and needs are. I would attempt to develop more products that they deem necessary and would want to buy in addition to the ignition lock. I would also attempt to create a product that these customers could use instead of the ignition lock.
• Once my business gains popularity, I will have a larger cash flow and be able to spend more funds on further research and development. This will allow me get to know a new client pool and see how they operate. Furthermore, I will use this research to determine what products are in high demand in that market. With this new information, I will create and develop new products that will be useful to these new customers and hopefully gain revenue from this new clientele.

New Market

• Rather than targeting intoxicated drivers, I would like to target people who take public transportation. With this new clientele, I would like to create a form of carpooling among people who do have cars that will be paid less than Uber to transport clients to areas near where they work. Basically, a person who owns a vehicle will state where they are traveling to and from where. Also, people who typically use public transportation or do not own cars will state where they are traveling to and from. Then my company will match these customers and charge a very small fee for the passengers that will then be given to the driver. Because the driver does not have to go excessively out of his way to pick up and drop off these customers, the gas fee will not be large and they will still make a large amount of net revenue. 
• I interviewed someone who bikes to work as well as someone who walks to school. Both of them liked my idea in theory but found a few issues in my business concept. They questioned if it would be worth it to spend this money on such short trips. Also, they wondered if the driver would be annoyed having to make so many different stops on his or her usual route to work. They told me that they believe this idea would be great for rides that are 30 minutes or longer but they felt that the idea would not be beneficial for any trips shorter that that. They also questioned how much money the driver would be making if the fees that the passengers had to pay was so small. However, I assured them that they would be compensated adequately and it would be more than enough to ensure their continued loyalty and service to the company.
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• I learned that this new market of pedestrians, bikers, and those who take public transportation are happy with their current method of transportation. They enjoy strolling down the streets and listening to their music on the way to school or work. However, sometimes if they are running late or are too tired, they wish they could drive to work or be driven to school but do not want to pay the high costs of Uber. Therefore, I feel that they would use my services under these circumstances, although it may not be as often as I had intended for it to be.
• Although this market is larger than my previous targeted clientele, the other market is much more narrow and, therefore, easier to identify their needs. This new market is so broad and contains to many diverse characteristics that it is impossible to satisfy all of their needs. While I know my older market better, this market would be able to bring in more revenue because of the sheer size of the market. All in all, I think this new market would be costly to research so I would have to wait until my first business venture really takes off before diving into this new one.