Assignment #12- Figuring Out Buyer Behavior

 Since most of my travel revolves around the military, whether it be for work or leisure, I decided to see if fellow co-workers felt the same way about my potential business idea.

The Segment: military members

The Interviews:
#1-Navy reserve pilot, commercial airline pilot,  pet owner

• It was evident that he definitely shared the same need that I did. Being a pilot, he has heard too many horror stories that of pets traveling in the cargo section of the aircraft. He said he would never put this dog through that high stress environment and would rather drive to his destination if his pet had to come along. 
• In terms of information search, he did not do much because he knew the conditions of traveling with pets on an airline because of his work. However, he did mention looking into kennels to make arrangements or driving depending on the situation. In this particular case, there was not much of search but rather considering alternative solutions. 

#2- Service member, married with no kids, pet owner

•  She did not necessarily share the exact same need because she only traveled in the Florida area. Most of her family lives here so driving with the dogs was not a huge issue. However, she did say that she would consider traveling more is this opportunity existed. 
• For information search, she did mention that she had looked into flying her animals on American Airlines once before, but was not comfortable with the idea of her dogs in the cargo section. That stopped her from ever looking for more information in the future.

#3- Service member, single, pet owner

•  He was very enthusiastic about the idea. Being single, he has the flexibility to travel on his own terms. Much like myself, he never liked leaving his dog behind. He also mentioned that members changing duty stations would love this idea, especially if they were going overseas. 
• Again, information search never really existed. Instead it was alternative options of where to board his dog. However, he believes that this would be a big item across the military and many people would be interested in using the service. 

Conclusion: Only one person that I asked to interview told me that they did not share the need to travel with their pets on an airline. This was a person with a big family, so they did not travel often in the first place. In terms of this segment, I got a lot of positive feedback from military members, as I originally had expected. I believe that people would do more information search if this option became available instead of searching for alternative means.  Overall, I do still believe that the military segment of consumers would be a huge factor in the success of this business.

Assignment #11- Idea Napkin No. 1

• I am currently serving on active duty in the United States Navy. My time in the military has led me to the discovery of my interest interest in business. Although my job as an acoustic operator does not directly relate to my business aspirations, many skills that I use day and and day out strengthen my abilities. My biggest business aspiration would be to have a positive impact on people's lives. I would get much satisfaction on making life even just a little bit easier for others, and that is how it would impact my life as well. 
• I am offering customers an opportunity to travel comfortably with their pets in the cabin of a commercial airline. I am also very passionate about animals, and I always struggle with leaving my fur babies behind. Potential customers would not have to go through the stress of leaving their pet behind. 
• I am offering this service to people who travel often but also have pets. Despite the occasion for travel, I believe that customers should have the option to bring their pets along. Pet-friendly hotels and venues already exists, so arrangements outside of the airline are easy to prepare. 
• Customers care because sometimes traveling can become a very stressful situation when pets are involved. If a customer chooses not to bring their pet along, then they have to find a means of boarding which could be very expensive. If flying is not an option, a person might be forced to drive long distances just to accommodate a pet. 
• My core competencies derive from convenience and comfort. Right now, airlines do not offer passengers the option to fly with your pet inside the cabin, with the exception of service animals. Instead, passengers must make the choice to have their pet fly in the cargo section with luggage. There has been many accidents with pets traveling on airlines which already make people not want to take the risk. 

I believe that these 5 elements go hand in hand with each other. This would be a very unique experience for customers, as nothing like this currently exists. That automatically sets me apart from competitors. In addition, pet-friendly establishments already exist and my business would help them grow as well. If people begin to travel with their pets, those businesses would see an increase in sales as well and would overall help the market. I do believe people would chose to use my service, as it helps alleviate some of the stress that comes along with traveling. If people are as passionate about their animals as I am, this business has great potential. I do believe I could make people's lives just a little better by offering this service. 

Assignment #10- Elevator Pitch No. 1

Hey Everyone-
Here's my pitch. Enjoy!

* Here's the link in case the embedded video doesn't work!
https://youtu.be/jhvj48--VCw

Assignment #9- Testing the Hypothesis Part 2

The Opportunity: A "pet friendly" section of the cabin on commercial airlines.
The Interviews:I conducted interviews with 5 people who had varying lifestyles. My reasoning behind choosing people to interview was to survey other reasons why people don't travel on airlines. For example, I interviewed one of my friends who is a single mother but also a pet owner. She chooses not to fly because her daughter is too young, and could not even imagine trying to take her dog along also. A co-worker of mine also brought up the fact that some people have a fear of flying, and would rather drive to their destination. His wife refuses to get onto an airplane, and that significantly limits their travel options. Two other people that I interviewed were very excited about the idea of flying with their pets. They believed that their dogs were well behaved enough to fly on a shorter flight. My final interview was also very interesting. This person had a fear of dogs, due to an incident that occurred when she was younger. She said she would not feel comfortable boarding an aircraft that had a pet friendly section, even if she wasn't near them in the cabin.
Who: People who do not care to fly or have a fear of flying fall outside my previously set boundaries. Also, single parents with young children or larger families would find alternative means of travel. The simply do not have the need, nor want, to consider flying. It would be very expensive for a large family to travel by air as well, even with a pet.
What: The need to travel with a pet differs when convenience or comfortability is out of the question. When traveling, everyone has their own preferences. Getting kennel care might be the easier option for pet owners.
Why: Not everyone has a need to travel. A person who would not consider flying with their pet most likely has more time and flexibility to get somewhere. The "outsiders" have a bigger stressor to deal with when traveling. Those inside the boundary most likely have to travel often and would much rather bring their pet with them instead of leaving them behind.

                           Inside Boundary                                                        Outside  Boundary 

1. Who ?  frequent travelers, pet owners                     single parents, non-pet owners, non-flyers
2. What?  convenient, comfortable travel with pet     cheaper, easier, less stressful travel
3. Why?   pet owners want to travel with pets             other travel methods, not traveling at all

Assignment #8- Solving the Problem

The problem- Many people consider traveling with pets very difficult and stressful. Sometimes, a pet owner might choose not to travel simply because they do not have arrangements for their pets. It is not easy to fly with pets, as the animals themselves are most often forced to travel in the cargo section of the aircraft, separated from the owner. This is why people choose not to travel or to travel by other means of transportation that is more accommodating to their pets.

The solution- My solution to this problem would be offering travelers the opportunity to fly with their pets comfortably in the cabin. At first, I considered proposing an airline that strictly carried passengers and their pets. But after my initial post about the problem, I found that this would be extremely difficult due to the already existent market and many of the FAA laws and regulations. Instead, I am proposing having a section of a given airline, much like first class, that would have bench like seats to accommodate both passengers and their pets. Of course, an airline would have to bite off on a contract and possibly re-rig several aircraft to make this accommodation. Also, owners would have to show proof that the animal is safe and healthy enough to fly. This additional section would not affect people seated in the regular cabin, and all passengers would be notified when booking that there would be pets on board the aircraft.

The service- I feel that my solution would be a service only and not really a product because airlines generally provide service to their customers. Customers would purchase a ticket at a slightly higher fare to allow them to sit in the designated pet area. The option would be presented much like first class tickets on any given airline. Passengers that buy economy seating would also be advised of the animals in the cabin and all conditions of the flight.

Assignment #7- Testing the Hypothesis Part 1

1.The Opportunity: Improving post-service health care for veterans in the US.

2. Who?  Veterans in the US
    What? They are not receiving the health services that they need and deserve
    Why? A ton of red tape exists for veterans to be treated and facilities are constantly fighting        
              outside issues such as funding cuts and staffing issues.

3. Many veterans suffer from the poor health services they receive after separating from the military. This has been an ongoing issue, and there has not been much improvement on the conditions. These people served our country and deserve to get the continued health care that they rightfully deserve. This has been a known issue among veterans in all parts of the country. The boundaries of the need include everything from primary care to specialty services. The problem exists among most veterans, usually those with the more complex issues. VA funding is always getting cut, which forces financial burden on the facilities. These burdens cause facilities to be short staffed and undermanned, causing customer service to be unpleasant. Also, this makes patients have to wait longer for their care or medications that they depend on. There is much room for improvement in the VA system as a whole.

4. After interviewing 5 veterans with different medical needs, I learned some things that have strengthened my view on the opportunity. In consideration for their personal lives, I am not going to include their specific medical conditions. However, one person that I interviewed who had the most severe medical condition, mentioned that he waited upwards of 2 months to see his specialty care doctor. My roommate, who depends on the VA for mostly primary care, shared her experience with something as simple as picking up medications. She arrived at the VA at 8 am, hopeful that she would be the first in line to get her prescription and get home. The front desk did not begin checking people in until around 9 am, due to the fact that they had to inventory everything before filling prescriptions. She then waited another hour to get her medication. It took 2 hours to get something that could have taken 10 minutes, had the VA facility been managed better. Small instances like that cause veterans to be unhappy with their care. Also, all 5 veterans that I interviewed mentioned the very poor customer service they have received, across 3 different VA facilities in the Northern Florida area. Examples of the poor customer service are rude receptionists and inconsiderate nurses. Another veteran mentioned a problem with the doctors that are hired at VA facilities. He had been misdiagnosed several times and tried many different medications and remedies, with no results on the actual issue. He also had several appointments cancelled on him by the doctor, after waiting weeks for a follow up. Many of these issues range from minor to severe but the overall discontent with Veterans Affairs was evident.

Conclusion: Veterans should not have to worry about the quality of health services that they receive after dedicating so much of their lives to the military. As an active duty service member, I do not have an issue with the services I receive. I believe that shouldn't change just because a member retires. Health care is arguably the most important factor in our lives as we age. The VA should not cut corners when people need their services the most.

Assignment #6- Identifying Opportunities in Economic and Regulatory Trends

#1 Economy- Uber's First Earning Report After I.P.O $1 Billion Loss
 https://www.nytimes.com/2019/05/30/technology/uber-stock-earnings.html
What? Uber has always lead the way in the ride sharing market. Other companies, such as Lyft, have tried to compete but have not yet surpassed Uber's accomplishments. After suffering a $1 billion loss, I believe there is an opportunity to improve the ride sharing experience. This loss is most likely due to the strict regulation of ride sharing in busy areas or the overall experience of customers. The company could improve by having safer drivers and making the app more accessible. The prototypical customers would be young college students or people who travel often. I think the opportunity would be relatively difficult to exploit, due to laws and travel regulations. 
Why? I believe that I see this opportunity because I am a frequent Uber user. However, I have had some unpleasant experiences and that is why I see room for improvement. I travel often, and have found that in busy places it is hard to find the uber "loading section" and your particular driver. In very rare occasions, I have also had questionable drivers which made me worry about my safety. People who don't use the app would not have any personal experiences to sway their opinion of the company, and therefore might not see an opportunity to improve the ride sharing experience.  

#2 Economy- The Bond Market is Trying to Tell Us Something (Worry)
 https://www.nytimes.com/2019/05/30/business/bond-yield-curve-recession.html
What? The US Bond market is at an all time low and many holders are beginning to worry. The long term returns are the lowest they have been since last recession. Economical factors such as inflation greatly affect the interest rates on bonds. I believe an opportunity exists for bond holders to cut their losses by cashing out their bonds and potentially investing in the stock market instead. However, history suggests that after a huge drop in interest rates comes a huge boom, so there is great risk involved. 
Why? I believe that this opportunity exists because I regularly follow both the stock market and bond interest rates. I have money invested, and that greatly affects how I view this issue. Someone without investments might not see the loss that the economy could suffer and not care to follow the issue. When financial risk is involved, the issue becomes very prominent. 

#3 Regulatory - As China takes aim, Silicon Valley Braces for pain
 https://www.nytimes.com/2019/05/31/technology/china-trade-unreliable-entities.html
What? The trade war with China is about to take a major toll on technology in the US. The leading US technology companies look to China for a wide variety of outsourcing. By denying important technology to China, we have created very high tensions. Opportunity exists to outsource labor and products elsewhere, although it is going to be very challenging to compete with what China has offered in the past. 
Why? I believe this opportunity exists because of all the political tension that had already existed, before the potential trade war. Being in the military, I stay informed on most of the world issues that the US suffers from. Many, many aspects of the US economy are going to suffer if this trade war lasts and that is why it is important to begin looking elsewhere for support. People without any knowledge of world trade might not see this issue and its potentially huge impact on our homeland. 

#4 Regulatory- Home Buyers See Signs of Relief This Spring 
 https://www.nytimes.com/2019/05/31/your-money/home-buyers-see-signs-of-relief-this-spring.html
What? The housing market is starting to look up for both buyers and sellers. Home prices are continuing to increase, while interest rates are continuing to fall. There is much opportunity here to buy a new home due to the healthiness of the market. The prototypical customer would be a middle aged adult, possibly with a family. Several factors affect this opportunity such as the size of the home and location. However, now would be a great time to make such a rewarding investment.
Why? I believe this opportunity exists because I am a homeowner myself, and looking to invest in a secondary property. I follow the market intensely and have been waiting for a perfect time to take the leap. The younger population might not see this opportunity just yet, due to financial restrictions and the lack of a need for a home.  

*Note- I used the New York Times as my source