Existing Market
What is next for my product in the existing market is to expand and evaluate. The main way I will know my product is a success is not by mere financial numbers but by performance and success of the athletes themselves. After interviewing my three people, I found that they believe I should possibly start a housing option for my academy, which I never planned on doing before.
In terms of growing my existing market, I believe that including a housing option may really help in the growth. People have made suggestions about housing options as comments on my blog before even though I never considered it at the time. However, after hearing about it from my interviews as well I believe I should include this in my future. This would grow my existing market by being a means of housing for locals who have the talent but maybe do not have the best home life.
New Market
A new market I would target would be a sports apparel business. I would target this market as I could use a lot of brand merchandise and soccer equipment to not only sell but use during practices. I have very minimal competition on my concept, which is already an attraction to the sports apparel business. I also can possibly become a power soccer school similar to IMG Academy with football and Montverde with basketball. Sports apparel brand supply these schools an sponsor them and a result lead to better awareness. I can supply brands like Nike and Adidas with the next star for their shoe deal, which will definitely create value for them.
I learned quite a bit about this new market. Nothing really surprised me about this new market. Most of my assumptions were correct, which is why I was not really surprised at all. I would not say this market is any less than my existing market as they are two completely different markets with two functions.
Hello Arman!
ReplyDeleteI really like your idea of including housing for the athletes that would join your program. When my brother used to travel for his soccer, the most interesting aspect of it (in my opinion) was seeing that ways campuses were set up for some of the sports academies. I believe that the housing would also double as a benefit to the athletes on a team level – it would be an easy way to encourage team bonding.
Hello,
ReplyDeleteI really like the housing option as i had suggest it before. I think that it is key in getting the player and their development as they will not have to worry about daily necessities of shelter and food like many athletes an kids do. The apparel side will also be a great place for a new market.