Assignment 4A Forming an Opportunity Belief

1. I believe there exists an opportunity for an overnight bag that transforms from large to small.
2. This bag would be small enough to accommodate on or two night’s worth of clothing, but also be able to be un-zipped and would yield a much larger bag capable of taking items for up to a week. I believe college students would benefit from having a bag like this, because they don’t often travel for many days at a time, and they have little storage space for a large bag for the occasional long trip. I believe this need is not new but has been around a while, and college students are being forced to seek leaner accommodations as inflation rises. I am 25% sure this opportunity exists.
3. College students living in my dorm
4. Customer 1 (C1) told me that her apartment was too small to have a large bag, and that she needs a small bag she can pack away. C1 said they have the need whenever they are packing for a trip. They are an over-packer, so a small bag is troublesome, even if its only a few days. It also is a problem for bringing back souvenirs, because there’s no space left in the bag. C1 is currently meeting the need by bringing extra bags on trips. C1 is not satisfied, multiple bags are a strain on her physically when travelling. C1 also said its annoying to have to store multiple bags at home for her trips.
5. I learned that it is a very real opportunity and people do need this bag. I was most surprised at how when needing to find more space people were willing to bring extra bags rather than a larger bag, due to issues with storing a large bag.

3.    Travelling Businesspeople

4.    Customer (C2) needs a bag she can bring for a carry-on for flights. The bags she brings are only allowed to be so big, but when she goes for other trips she needs a larger bag, so she is able to bring things back from the places she visits in her free time. C2 is constantly traveling so they are aware of their need always, and doing her best to keep conscious of size restrictions. First became aware of the need when they started travelling. C2 is currently unable to address their need, and is simply limited by the amount of items they are able to bring back from their leisure trips. They are unhappy they don’t have a better way to transport items home.

5.    I learned that there are multiple reasons that a person might want this bag, despite demographic. I learned of a use for the bag outside what I had expected. I didn’t think people would be wanting a bag that they could carry-on for the flight there and check for the flight back once they’ve filled it up with souvenirs.

3.    A guy who lives down the road from my parent’s house.

4.    Customer 3 (C3) doesn’t have much of a need for the bag. He said he doesn’t travel much so he doesn’t have a problem with simply just owning a large bag for all purposes. They are slightly aware when they go on short trip because they don’t own a small bag. But he said the issue isn’t a big deal because he goes on few trips and most are for an extended period. They haven’t had the need for very long because they only just started going on short trips to visit friends. They are currently addressing their need by using their large bag and just carrying around a bag that’s half-empty. He isn’t too upset with his solution but acknowledges that it is not ideal.

5.    I learned that many people are fine with their simple solutions, and don’t have a need for a complicated bag that has zippers to expand and resize. I also learned that even if they don’t have the need, they still understand how it could be useful for some people.

7.    My original opportunity still remains but it’s clear that it’s a small window of opportunity. People don’t necessarily need a bag that can change sizes, but many would find use for it.

        I believe my opportunity is more accurate because I know understand that not everyone thinks that they need the bag. I think that I now have a better grasp of who could use it, and how, so I might more accurately cater to them.

I think entrepreneurs should adapt a great deal to fit customers, because without customers there can be no business. Although an entrepreneur should not completely change idea if they truly believe the opportunity exists. Ideas should be adapted but not completely abandoned, unless its clear the opportunity doesn’t exist.