Inboard Target Market

Decent Essays
The entrepreneurial company I have decided to do my analysis on is Inboard. Their pitch was shown in episode 10 on Shark Tank. Inboard is a company centered on the sale of electric skateboards to urban areas. There are many electric skateboards out on the market, but the Inboard team believes that their product provides significant value over their competition. The main value that differentiates them from their competition lies within the product design. The skateboard that Inboard is selling has the only in wheel motor which allows the skateboard to be more versatile as a mode of transportation and it allows the consumer the peace of mind of not having to perform any maintenance on the skateboard. The fundamental idea is that with this improved…show more content…
The business mission for the company is to revolutionize urban transportation by providing consumers a versatile and convenient alternative. Their main target market is urban areas because that it is where people are always looking for alternatives to their current situation and it is a large enough market for high growth. The skateboards can be used anywhere but they are limited to about 20 miles per hour so they are not a very convenient method of transportation for long distances. It is my opinion that the skateboards could challenge Hoverboards in the suburban recreational market in the future once they can bring the cost per skateboard down, but that is not the initial primary market for the…show more content…
They also have a side revenue stream of selling extra batteries for their skateboards that is similar to the razor/razor blades business model.
In our chapter two discussion early in the semester we talked about how to come up with new business ideas and how to evaluate those ideas to see if they are a viable business opportunity. This concept is the first thing that came into my mind when learning about Inboard. The founders looked their own personal experiences and observed a widespread problem of transportation within urban areas. They then came up with this business idea of creating a versatile alternative mode of transportation that solved that problem. They were also observing trends when coming up with business idea. People were already trying to find alternative ways to get around urban areas such as riding a bike to work. The founders saw this trend happening and decided to provide a better alternative and work with the trend rather than against it. Using these factors the founders were able to evaluate if the business idea was indeed an opportunity. The idea was attractive because there is a large market that are looking for alternative transportation. The idea is durable because traffic will be a problem in urban areas for the foreseeable future. The idea is timely because it takes advantage of upward
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