Idea Napkin No. 2

1. This question is kind of hard to answer, but I'll try my best. I am going to be a fourth-year student studying Information Systems at the University of Florida. My talents include my perception, my ability to work with technology, my interpersonal skills, and that I'm a generalist. I have previous experience working in two part-time jobs in which I worked as part of a team to complete tasks and assignments. I have also worked in an internship in the technology industry in which I honed my skills in multimedia, app development, and data analysis. My aspirations include completing my Master's degree in ISOM and getting a job in the industry that I both enjoy and feel that I'm making an impact on those around me. Since my business concept deals with consulting too, I think that it would become my primary occupation and would be what I focus most on.

2. My business concept is essentially the same as it was last time I did the Idea Napkin assignment, although I have made some slight changes .My product/service is a social media consultation company, in which I will approach businesses who desire to have a social media presence in order to cater and market directly to their potential customers, but are unsure as to how exactly they would do that. I would meet these businesses' unmet need of wanting to better market their own product or services to consumers through data analysis and comprehension, an extension of experience I have obtained from my internship and my skills that I have developed as an ISOM major.

3.  I don't think that my customer base and target groups have changed much, either, primarily because I think I identified them correctly in the first place. I feel that my customers (in this case businesses) are those that are not large enough to have an internal marketing and data analysis department in which that can perform the tasks of my business idea in-house. I think that larger companies will already have these needs met because they will have the budget to afford hiring an internal team of strategists and analysts who can perform the same tasks my business can. I think that another similarity that my customers have is a strong desire to tailor their marketing strategies and market outreach to customers that will actually be receptive to their efforts, versus simply throwing things at the figurative wall and seeing what sticks. I hope that my business will be able to meet these unmet needs and lead to customers who are both happy and satisfied with my product/service, and have it lead to expansion and increased business with other similar companies.

4. This answer is also essentially unchanged from last time, because I feel that it still accurately reflects my thoughts. I think that customers (businesses) will actually care about my product/service because I offer something that they want and need, and they cannot do it themselves, or they're attempting to and failing to get the results that they desire. I think that by my business idea offering a must-have marketing and strategy consultation service for social media usage, I will create something that small and medium-sized business owners must have.

5. What sets my business idea from everyone else is that there is virtually no competition in my business' field yet, and I have a unique perspective on how social media works from my experience in the ISOM and technology fields, instead of just from a marketing perspective. I can take and use the numbers from data analysis to understand what truly caters and appeals to potential customers and what it takes to get said customers to pay attention to my clientele, which in this case are businesses.

I still feel that this accurately reflects how I feel about the question as to whether or not they fit together. I believe that the elements of my post actually fit together quite well. I think that I might have a weak area in that my product/service may not necessarily be the only one of its kind, and that I might have to figure out a stronger way to distinguish myself from other competitors. I feel that this concept goes together nicely with my experience and skills, and I think that it's a service that's only going to grow larger and larger as time goes on. The presence of social media in our lives as consumers grows everyday, and more and more companies are realizing this every day. With my idea, I hope to capitalize on said growth.

Feedback Memo: Since I didn't really get a lot of feedback on my first post, there was really much to add to what I had already written for the first post. Going back and re-reading much of what I said before, I still feel the same way about many of the questions that are being asked now, which also happened to be similar questions from beforehand. I made some minor changes, but for the most part I answered things similarly to the first post.