29A

29A 

Venture Concept 2

Opportunity. 

The potential customers of my product are mainly college student that attend universities in warm weather, and athletes. The forces or changes in the environment creating this opportunity are the humidity and heat at schools like the University of Florida, and the lack of a portable deodorant. Demographically, the market consists of college students, and geographically, a warm climate. Currently, customers are bringing toiletry bags, and makeup pouches in their bags. They are not loyal to this, they want something easier to carry. This opportunity is very big, as there is no competition yet. The window of opportunity is seemingly long as no one has come up with this idea yet, however, I wouldn’t wait too long as you never know what could arise. 

Innovation. My product is the portable, dissolvable deodorant strips. They are very similar to the Listerine mouthwash strips, as shown below, and will come in a similar container. That way, students can store it on the wallet on the back of a cell phone. This is a product in retail so I will make money by selling it in stores and online through college campuses. In other words, I would partner with certain colleges and large corporations to sell one pack of deodorant strips for about $10. 

Venture Concept. 

Customers will want to switch to this product because it is more convenient. They will no longer have to carry gym bags, only phones. In this era, people bring their phones everywhere so having deodorant accessible on the back of one will make the product that much more desirable. For this reason, it shouldn’t be hard to get them to make the switch. There are currently no competitors in this market. Packaging is the main strength in the business. Thus, it is extremely important that I partner with the right corporation or manufacturing company. Distribution and customer support are always important, but it is especially important that the first college I bring the strips to is an easy target and well within the boundary of my customers. I would organize a business by partnering with an existing deodorant corporation. This would save a lot of time and effort and the company would already have the necessary connections. Therefore, the employees and roles would be under the digression of the company. 

The three minor elements

I think the most important resource will be the fact there is no other product in the market like mine. Additionally, once the product is out there, it will be hard to create spinoffs on the product. My next step will be to partner with a corporation that has existing networks, and would still provide me with profit. Finally, in 5 years I want to be on a different career path, not in retail, while still managing profit of this idea. This venture allows me to get a taste of the retail world. I want to be in Information Systems, but that requires me to be able to effectively communicate to all fields. Having a background in any field will prove beneficial to my future. 

1. Unfortunately, I had a problem submitting my venture concept on time, and therefore did not receive feedback. However, throughout the entirety of the course, I have received many positive comments, but also suggestions, such as partnering with a giant corporation like Dove. 
2. Given the feedback from other students, I acknowledged the fact that my connections weren’t established enough, and that partnering with another corporation would benefit the company best. 
3. Include a picture (for illustration!).