Assignment 11A – Idea Napkin No. 1

Assignment 11A – Idea Napkin No. 1

1. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

• My name is Jazmin Sotomayor, I just transferred to UF from Broward College and I’m a General Studies Business major. I have a talent in working and managing groups of people, which helped me become the Vice President of Student Government in Broward. I have a lot of experience dealing with people from different cultural backgrounds and with different learning abilities. I have a passion to help individuals who have gone through violence, discrimination, and bullying.  I enjoy exploring new places and I am not scared of new things. If I were to start this business concept, I think it would play a pretty big role in my life. I watch the news and there is no single day where I do not see violence happening in different parts of the world. I want to advocate for minorities and people who feel unwelcome just for speaking a different language or having a different skin color. I think it would help me and others understand the importance of diversity in our society.

2. What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

• I am offering a product that does not only advocate for equality but also creates jobs for single-mom families in Peru. For customers, I am solving their unmet need of being able to advocate their ideas through clothes. Not only a simple graphic design, but actually clothes that could empower individuals and others. Moreover, I also found that other unmet need was that many single moms in Peru tend to migrate or leave their kids for long hours because they do not have many job opportunities. My brand wants to create flexible jobs for this minority in Peru. I want to create a responsible and ethical clothing line whose main goal is to help end discrimination and empower minorities.

3. Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common? 

• I am offering it to two main groups: individuals and companies. Individuals included in my target market are those who are in the age range of 15-35. My product is going to be mainly purchased by young women and men who believe equality and responsibility are important in the retail world. This young target market includes students and workers. I did not include older individuals because they are not that interested in advocating for diversity. However, any individual who believes our social goal is worth a small part of their salary, they are more than welcome. My main target market are those individuals who identify themselves with our clothes and believe there is a need to protest against discrimination.
• The second group is the companies who want to invest and help our social cause, which is to create jobs for single mom families. This target market is wider and could include from restaurants to supermarkets. Moreover, bigger retail stores could also buy and resell our products to prove consumers that they advocate for what we advocate as a brand.

4. Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

• I believe that customers will actually pay me money to buy my product because they understand the importance of social responsibility. Consumers expect a lot from businesses and what my brand offers wants to exceed those expectations. The public constantly prefers businesses that promote equality, responsibility and ethics, which is what my brand sells through our clothes and our social cause. I believe bigger businesses will buy my products to promote and advertise how they agree with our brand view and ethics. Additionally, I believe that clients would buy my products because they feel impacted by the brand's cause but also because they identify with our clothes.

5. What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has?  

• I had to do my research to find similar businesses like mine. I found that there are plenty of small stores that sell a "pro equality" clothing line but they only do it for a special month or celebration. However, they seem to be businesses with no social cause beyond selling clothes. They do not seem to be popular since they are relatively new. I believe that having a social cause would be a great asset to advertise and promote the brand. Moreover, I already have the connections to connect with single mom families in Peru .My parents own a textile company, so the products and fabrics could come from there.

In addition to these five elements, please spend a paragraph evaluating whether you believe these elements fit together or whether there are aspects of your business concept that are weaker / out-of-joint with the others.  

• I believe that all of these elements fit well together. Nevertheless, I believe that my business idea has parts that might be weaker than the rest. For instance, I do not have the connections to promote my business cause in the United States. Moreover, I am not sure if having an online store or a physical store would be better for the American consumers. These are all issues that occur because of my unfamiliarity with the American society, since I am not from here. However, I could fix this by doing the right research in the market and creating the right connections with the people who could really help me drive this business idea. Other than that, I feel that my business idea is not only about making profit but actually helping communities in the US and in my country.