- innovative idea: This product is something I have not seen done or seen anything like it when attending Gator games in the stadium. It can be imitated but having head start always helps.
- organizational culture: Fully intend to have a team whose philosophies and values guide member behavior. The team will have an analytical, pragmatic, sustainable, and motivated approach.
- financial advantage: The product will not be priced too high, it will have no competition at first, therefore it can dictate prices in a way that will bring in profits but also be attainable for the target audience.
- target audience: The audience being targeted are sports fanatics. This specific target allows the organization to narrow down the needs and wants of customers and expect brand loyalty.
- quality product: The product will have enough funding to maintain the best quality in the competition at fair prices.
- potential partnerships: Potential partnerships with stadiums and sports teams can be formed that will only push the target audience to be loyal to our brand.
- human capital: The human capital being provided is at an advantage because creativity, group brain storming, and knowledge will set us apart from competitors that are seeking to mindlessly make faster and cheaper products.
- social capital: The network of relationships being created through potential partnerships will put the product above its competition.
- knowledge on market: The knowledge on the market is fairly high from studying the target audience as well as interacting with them because of a background in attending sports games through UF.
My top resource is most likely the potential partnerships and quality products. With a partnership comes brand loyalty and sponsorship. Which then allows us to have funding to maintain the quality of the product. The whole purpose of the product is to be a permanent solution to umbrellas and ponchos and be durable through the weather. Our competitors will come in after being in the market for some time to have an advantage and make those partnerships, therefore the quality of the competitors products will be lacking which defeats the purpose of the product.
Fabiana, I think that the advantages that you mentioned about your product will provide you with a lot of benefits. However, I think that for each part of your capital it would have been best to describe each advantage and how it helps you and your product and then going into a more detailed VRIN analysis. Also, you only included 9 instead of 10 parts of your capital. After reading your examples, I feel that your potential partnerships and your financial advantage create a great lead for you over others and I was glad to see that you mentioned your partnerships in the resource that you feel is most beneficial. Keep up the good work!
ReplyDeleteHey there! I think you have done a good job of identifying your most important resources, however, like Adrian pointed out, it would be to your benefit to evaluate each one a bit more thoroughly with an explicit VRIN analysis. Taking a more detailed look at each of your resources would help you gain a better understanding of your current strong and weak points, and can give you an idea of what types of resources you should focus on building or expanding on in the future. Keep up the good work!
ReplyDeleteHey Fabiana,
ReplyDeleteI think you did an amazing job throughout the assignment as a whole, but do agree with Adrian as well as Kailey to go more in depth in our explanation regarding VRIN analysis. Being more thorough would not only help yourself as stated above by Kailey but also help your peers and readers get a better understanding of what your vision is. Other than that small detail I think you did a great job and once again love your product.
Hey Fabiana,
ReplyDeleteI think you did a good job of pinpointing the most important resources to you. Although, I am going to have to agree with everyone else and say that you should have given a more thorough explanation in your VRIN analysis. Overall though, I agree with you that potential partnerships and the quality of the product are your top resources. Both of these resources can help you maintain customers happy and loyal to your product and help your product grow.
Hey Fabiana,
ReplyDeleteI think you did a great job analyzing and listing what makes your venture so unique and special. Having potential partnerships and quality products are definitely two great advantages. I personally, would benefit from your product! Thanks for sharing.