25A – What’s Next?

What I think is next: online store, the possibility to personalize your lights online, discount on lights if you purchase a lot of lights, discount on other eco friendly products if you purchase a minimum number of lights (thank to partnerships), and possibly the sale of connected lighting controls.
Existing Market interviews:
1. They are interested in the discounts and were thinking of another discount if you bring a friend
2. They like how they can personalize their lights online and were thinking of an option where they could pick them up in a store (like when they go shopping)
3. Interested in discounts and were thinking of a showroom (so partnership with those who produce Chandeliers) to display all the kind of lights (for parties, for the garden, for the house etc) to choose the one which suits them better
Reflection: they are mainly interested on discounts. I could do the bring a friend thingy cause it would mean more costumers and to enlarge my existing market. They all had different ideas to satisfy their needs. I also think it would be good if they could pick their LEDs in a physical store because it would take less time for them to get them. Overall, it seems that they liked my ideas to grow the existing market
New market: those who pay for their bills but are not interested in being eco friendly or in long term benefits and don't have money to invest. This target group would be very hard to reach because I would have to overcome the obstacles that prevent them to buy my product. I think that with information (after getting to know all the benefits for them) I could overcome these obstacles and make them interested in buying my product, but this would cost me a lot of money and time.
New market interviews:
1. Person in their 40s. They own a house but have no money to invest. I explained all the advantages and they agreed with the benefits but still weren't interested because they prefer to pay less for their lights, and they suggested they could anticipate a little money and give me the rest when they started saving from their electricity bills. He seemed more interested.
2. She owns an apartment, she's interested in saving but not in being eco friendly. She suggested selling a lot of lights to get discounts on their price and offer a satisfaction guarantee in order to entice people like her.
Reflection: the first person gave me a new idea and I realized that if they are informed they are more interested and this surprised me particularly. The second person gave me a suggestion I had already thought of. Overall,
I was right in thinking this target group is hard to reach because I would need a lot of money to make them interested in my product and I couldn't be sure they'd become interested, because they still don't seem to show all the needs my product would satisfy.  I was already thinking about offering a financing service for our sales so the interviews did strengthen some of my beliefs. Maybe other new markets could be better, like for example businesses, hotels, libraries and so on (those who want to renew their image), also because they would need a lot of lights.  The new market I picked is less attractive than the existing market.