Existing Market
Step 1- The next step for Anam Beauty and Wellness would be expanding our social media presence. If you are reading this please check out our Instagram: @anambeautyandwellness. Ideally, it would be beneficial for Anam Beauty and Wellness to sponsor some social media influencers in order to gain more recognition. This process is more difficult than I originally expected. The hardest part is finding someone with a social media page that fits the same message you want to provide to your potential investors.
Step 2- I believe the consumers within my industry would just simply say hurry up and start selling the products. I honestly think I have been too slow at launching the website, although it is very difficult task juggling both school and this business.
Step 3- The future of the next step is simply to push more social media presence, while simultaneously gaining a few "brand ambassadors" to help with that initiative. Then shortly after just launch the website and start selling the products.
New Market
Step 1- The new target market that I would pursue would be selling to wholesale to large in-store retailers, like Publix or VitaminShop. My existing market is exclusively selling directly to the consumer via our website. The goal for Anam Beauty and Wellness would be both B2C and B2B, which would obviously allow us to increase sales and draw in new customers.
Step 2- My venture would give this market new value by adding quality, affordable products to their shelves that would change the way customers shop for nutritional products at their particular store.
Step 3- I believe the customers would get added value from entering this new market for two reasons. The first reason would be easier access to the products we offer at Anam Beauty and Wellness, and the second reason being a better quality product than the generic wholesale protein and weight loss matrix usually offered at these kinds of large retailers.
Step 4- Since I was not able to speak directly with the customers in my specific industry it is hard to say I learned something new from their perspective. However, I think they would be happy that Anam Beauty and Wellness would be adding our products to their local retailer's shelves because it gives them a better alternative to the generic products usually offered.
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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...
Hi David!
ReplyDeleteBuilding a social media presence is a great next step! I could imagine being in college and trying to start a business is quite strenuous but you have a promising foundation to start with. I'm glad this class is allowing to seriously consider your venture! For my product, my new market also includes selling to larger companies. Once again, awesome job on this post!
Hi, David! I enjoyed reading your blog post for this assignment. I think building a social media presence is a great next step. I reviewed your venture’s Instagram page, and Anam’s posts are eye-catching! They are also cohesive in showcasing your products and telling the story about your venture, which is essential in developing a strong brand. I also think incorporating influencer marketing is a great component in gaining brand recognition. Excellent job!
ReplyDeleteDavid,
ReplyDeleteI agree that having a social media presence is key in expanding the reach of your products. I just read "Inbound Marketing" by Brian Halligan and if you haven't read it I say that it is a must read to get a better picture of how to marketing online. Getting into big retailers wouldn't hurt either, but going online is probably easier. Best wishes!