Existing Market.
I think what's next in the fitness industry is some sort of app which can connect people who share fitness backgrounds into a broader community. This app could be used for a lot of different things, but just some sort of community app connecting people in the industry.
With all that being said, after interviewing a few people I think I learned more about the type of application I'm trying to create. Yes, my application should have the underlying idea of making sure that personal trainers are on the app to find clients, and clients looking for personal trainers. However, in doing so I should make sure that the app has a feel of community and discussion to it. You should be able to feel connected to other people when using the app, and should always feel like you're learning.
This can be achieved in a number of ways. I could have trainers post longer discussions about the method behind their training, and then allow clients to chat with a trainer before deciding if they will actually utilize them. I could also allow a feature that would let individuals connect with one another to find gym partners or group sessions in local gyms near them. Regardless, its clear that I should focus on making it a community app rather than something purely financial for trainers and clients.
New Market.
Another market that my app doesn't currently apply to is pre workout supplements. This is a type of product prevalent in the fitness industry that continues to gain popularity. While some people continue to not use it, other people find it very useful to use and give you energy before a workout.
I believe my venture concept could create value for people involved in this market. If my application can be successful at creating a community within this industry, it would be very valuable. Pre-workout and even other type of supplement companies could use my website as a huge marketing asset. They could provide ads for their products on my website, which would likely be very similar to their market as well.
I believe I learned a lot from looking into this market. I expected that there were a variety of different products, and only a few products would be successful companies. I was somewhat wrong. While this is no shortage of companies, it appears that there were more successful and popular companies and products on the market. It is a competitive market, and unless your product is high quality it will get destroyed from poor reviews.
I don't think this market is nearly as attractive as mine. There are already so many different companies that unless your product is clearly a level above the rest of the products, it will not be given the time of day by consumers. As a result, I think achieving large amounts of success in this industry would be very difficult and take a large amount of effort.
Hey Nick!
ReplyDeleteI think it’s really great that you were able to gather from your interviews a smaller aspect of your app that you want to make sure is there. I feel like with a concept like yours, the community aspect of the app is very important in building connections and making sure people are comfortable with their trainers.
Hey Nick,
ReplyDeleteIt was great reading your post. It seems like you found great people to interview and asked very relevant questions. It sounds like the information you gathered from these interviews will allow you to further develop and refine your venture. I think your idea is coming along very well and will continue to show progression throughout the rest of the course. Thanks for sharing.