24A Venture Concept 1

24A

·       What are the forces or changes in the environment creating this opportunity?

The forces creating this change is that efficiency always needs to be improved. It is a competitive marketplace, so any slight advantages can help a business become more profitable.

·       How is this market defined geographically and demographically?

Geographically it would be more in warmer climates. In the south lawns have a longer growing season. This means that customers are more likely to have a lawn mowing service, and that service will get more use out of the mower. If the mower is only needed for 2 months of the year it isn’t that good of investment. However if it is used 9 months of the year then it will pay for itself sooner.  

·       How are customers currently satisfying this need?  And how loyal are they to whatever they use now? 

In the industry I think there would be brand loyalty. This would be a big investment for the people buying a mower at multiple thousands of dollars, so I think it would be similar to cars where people buy one brand of their whole life. hopefully it will develop a reputation as a reliable product so word of mouth will be positive and I will be able to spend less money on advertising.

·       How big is this opportunity?

With just my product I see it being about a 100 million dollar industry. If I am able to expand the technology into different areas then that will vastly increase the scope of areas I can sell my products.

·       How long will the “window of opportunity” be open?

This opportunity will be open until someone else creates the product. Or another thing that could disrupt the market would be mowers that are controlled by computers. They would use sensors and not even need an operator. As such it would not be that beneficial and the slight benefit would