From the interviews I conducted, I found that my idea appears pretty good on paper, but might not translate well to the real world. However, the consensus was that there is definitely a market for this type of service if it's able to get fine tuned as there is obviously a retirement issue when comparing the current generation to those of the past. The interviews further confirmed the fact that retirement is usually a tough time no matter what and added financial stress doesn't help the situation. I was able to learn that the idea of replacing pharmaceutical prescriptions with "exercise prescriptions" was well received, and sparked interest as to why there isn't an everyday gym rooted in the health of the elderly. Many gyms focus on the youth and other elderly gyms are more like rehab centers at the hospitals, so the idea was perceived as refreshing. They liked the idea, but it was collectively agreed upon that the issue might lay more at the hands of the government and social security rather than a single company.
Knowing where to start is the root of retirement problems. There are many ways to go about saving for retirement, but now that the time to wait for the their investments to accumulate is not on their side, they didn't know where to go next. They liked how this concept was simple and something they could easily manage.
After conducting these interviews and as I'm beginning to understand my segment a little more thoroughly, I think they have the need awareness, they just need helping know where to go from there. These interviews actually sparked some confidence in my idea, because although it's still not completely solid, I have gotten some decent reactions, and I think with the right implication, it could be a beneficial and lucrative service.
Caelan,
ReplyDeleteI enjoyed reading your post. Your first paragraph does a great job presenting your segment and your rationale for selecting it. Your summary of the interviews is clear and shows your learning process, confirming your expectations about the existence of a market. I also like how you were able to translate the results of your interviews into increased confidence and potential go-to-market strategies. I experienced a similar case with my product, where my target segment is aware of the problem, but they do not think a solution exists. I believe that, as long as a problem exists, advertising can help transform awareness into sales. Great job overall with your post!
Caelen,
ReplyDeleteI think your idea of a gym for the elderly is a great one. It is something not currently out there and you are choosing the correct target market and the correct area to do so (lots of elderly in Florida). Your interviews clearly gave you solid information to help you out on the way as well. Overall, great post!
Caelan,
ReplyDeleteGreat job on your post. Starting with a segment of retired people and those affected by the lack of funding for retired people is a great start. I think that the whole idea is amazing!
Hi Caelan,
ReplyDeleteI had never thought about a business opportunity like yours but I definitely think it is a great one. An elderly gym in particular is something I had never heard of, but it seems like you have really thought about the important aspects in opening one. That being said, gaining insight from a segment of retired people who are affected by a lack of funding was a smart start. Nice work!