Friday, January 31, 2020

Forming An Opportunity Belief

1) I personally believe that there is an opportunity in the supplement industry, specifically in bridging the gap between beauty and wellness niches within this industry.

2) For so many consumers within the supplement industry, there has never been a brand to capture their attention for wellness products that truly add in the way they look and feel. That is there has never been one brand to create products that are excellent for overall health as well as aid in one's appearance. That is the goal of my current company, Anam Beauty and Wellness. We have narrowed down our target audience as being primarily female between the age of 18-45, however, as time goes on we believe we can make this brand popular for men between the ages of 18-45. The need for this kind of supplement line came from high consumer education on "what goes into your body, the quality of the nutrients plays a major role in what is reflected on the outside of one's body. Lastly, people have been consuming from various different companies by picking and choosing specific products to fit those needs.

3) The prototypical customer is any individual, most likely young adult, looking to build a healthier lifestyle day by day.

4) Prototypical consumer 1 stated that he wanted to find a supplement line that was transparent and delivered products both for overall health and workout/recovery.  He stated he became aware of this need by not finding a product that fit his overall health and fitness goals. The individual became aware of this need over a course of about 6 months not finding a brand that he believed in specifically, was transparent, and delivered quality/tasty products. I wanted to actually interview someone who did not know about my business, therefore, it was extremely difficult to find someone to properly interview. 

5) I honestly learned so much from this assignment. The most surprising thing that I found out from this interview was the fact that so many consumers have different have slightly different needs from the total market. I will apply this to my current business in broadening my range of supplement products in the near future.

7) I believe that there still is a large portion of my opportunity out there in the market. I also do believe that my opportunity has even more potential for growth due to the various needs of the market.

1 comment:

  1. David,
    I like how you used a personal product for your opportunity belief. This puts your entrepreneurship story in perspective, and allows me to clearly understand the opportunity, despite not being a supplement consumer. I agree with your assumption that this has potential for growth in response to need, and am eager to see where you and your product evolve to.

    ReplyDelete

30A – Final Reflection

1) Summary of ENT3003 throughout the semester. -This class allowed me to gain a great deal of knowledge and personal growth surroundi...