25A – What’s Next?

Existing Market:

What I think is next?

Although the market I’m venturing into isn’t exactly defined and is small to nonexistent, I do believe in some way it could be naturally merged to or form part of the alcohol (specifically beer) market. I’d say that if my market were to exist, and be known to form part of the commercial beer industry, the next big thing would be to produce bottles with a salted or lime flavored layer on the inside, whether it be the whole inside of the bottle or near the top. Of course these bottles would be sold separately and marketed correspondingly, but this innovation would provide for every sip to be flavored as the fluid makes contact with the inside layer going and subsequently goes into the customers mouth. 

Existing Market Interviews and Reflection:

In reflection of what my interviewees had to discuss, for expansion in the industry I would have to first test out its success and see how customers respond. Their conclusions were very similar, as they argued that since the market is practically nonexistent, or at least to their extent of knowledge, innovation and the next “big step” would have to come directly from the consumer’s experiences. First I should develop the product to an achievable perfection, and then see how the public responds to it. This is where I will know if a new channel for tastes may open up, if the design is not suitable, if accompanying products can be produced, etc. 

New Market: 

What I think is next?

A new market that can be explored is a capsule containing additives that appeal to other regional consumption preferences. Within the whole product creation of my business idea I was only focused on creating a capsule with salt, lime and the mix flavors, as this is something I am familiar with and can relate to— thus the opportunity identified is directly associated to personal taste and knowledge. If I were to travel to other parts of the world, I would most likely find that there are different tastes in different cultures for consuming commercial beer. I think this would be a fun path to explore. 

New Market Interviews and Reflection:

As explored in my own thoughts, my interviewees suggested researching different taste preferences in other regions of the world, as well as creating never before flavors that might cause a new trend. This was an interesting idea as I never thought about it, but after my second interviewee mentioned creating a hot sauce additive I actually started digging it. I’ve seen people put hot sauce on everything, and it actually wouldn’t be such a bad idea to create a capsule that adds a spicy taste to your beer. My other interviewees also explored the opportunity of targeting other drinks with my capsules, such as cocktails and regular beverages. Successfully doing this would create a much larger market though it would weaken the specification of my target consumers.