25A – What’s Next?

Existing Market. 

What would be next in terms of my subscription box would be to offer a larger box for a higher price. Instead of $35 for 5 items, I would offer 7 items for $50 and 10 items for $75.

From the three customers, I interviewed they all similar response, making my subscription box larger, as well as introducing new and fresh categories each month, so growing it larger in that sense as well. The item that I had already listed matched up with what they were suggesting, and they all thought that the price points were a great idea.

After a year of launching my subscription box, I would like to increase the size that may be up to the 7 items. I would still be developing relationships with suppliers, so I don’t want to go too big to lead to disappointed customers due to my not offering enough consistently each month that they’re interested in.

After 3 years I would then like to offer even larger boxes and have a wider variety of categories and items to choose from. This would be built from my supplier relationship and network I have grown over the last few years.

New Market.

A radically different market from what I’m currently planning on targeting would be men in their 40s-50s. I am currently targeting women in their 20s-30s, so this is a big change.

This venture concept might be able to create value for middle-aged men in the sense that my subscription box may offer them products that they’re already using or are interesting in using and align with their hobbies for a cheaper price. Most of the time the 5 items you may receive in your subscription box have a value much higher than the subscription box itself.

The two men I interviewed were really receptive to this idea which surprised me. They said they would be interested enough to give it a try. One suggested creating a separate line specifically for men, but I don’t think that would be necessary because the box will already be gender-neutral.

Reflection.

I learned that the new market would be receptive to my subscription box. It surprised me that they would be interested in it. My assumption would be that they would automatically see that as a waste of their money or something for women. This new market does appear to be much more interesting however it does not appear as attractive as my existing market. I think my existing market would be much more adaptable and profitable to target.