What's Next?

Provided my padded custom seat covers are successful, I would like to expand my company's offerings to include other interior components.  I'd like to offer customizable steering wheels that can be upholstered and styled with options much like those I offer for the seat covers.  I would also like to offer customizable carpeting and headlining made from quality materials.

Since the interview requirement is suspended for this assignment, I would simply like to discuss my ideas for the future of my company further.  Offering new interior components is a great way to grow in my existing market.  Many of my existing customers would likely be interested in the new products I am offering.  This is especially true for those who chose to customize their seat covers, as many of them are probably interested in further customizing their car's interior.  One possibility is that instead of investing in the knowledge, staff, and equipment to make the new products myself, my company could merge with an existing one, like Carbontastic, which makes beautiful custom steering wheels.

The new market that I could target would be people who need durable, functional seat covers in vehicles like semi-trucks, tractors, and taxis.  This market consists of both consumers and other businesses.  I think that by offering a utility-focused product line - basic designs in gray or black with no excess frills and durable cloth construction - I could appeal to users in this market.  This is because the people in these markets would likely want a low-priced seat cover that can withstand frequent, heavy use.

The users in this market are more likely to need a seat cover due to the original seat being damaged/torn by how much use it sees.  This means that my product becomes appealing not just because it offers superior comfort, but also because it protects the seat beneath from further damage.  At the same time, these customers are not interested in the aesthetic appeal of my product, so I adapted the form of my product to sacrifice aesthetics for low-cost and durability.  This market is attractive because it has the potential to sell to a business, like a taxi company, which will make larger purchases and would buy more seat covers over time.  The individuals in this market also feel the need for my product stronger because covering a deteriorating seat is a more compelling need than making a normal seat more attractive.  One thing that makes this market less attractive is that the basic seat covers sold to these customers will have lower margins than customized seat covers sold to my existing market.