Target Market: Share To Spinlister

Share is an online sharing service that securely and efficiently allows users to rent out their assets, to other users at a fair price. The service will allow people to save money by renting products directly from other users as opposed to buying the product for full market price, or renting it from an expensive rental agency. Customers will be able to increase the value of their possessions through Share to rent out items they already own, but aren’t necessarily using often. Our target market is mid-low income Canadians ages 18-35. This group represents over a third of the Canadian population (Ferguson, 2012), and is composed of consumers who are looking to save money, and who are proven to have a positive attitude towards sharing products

What sets us apart from other sharing based services is our ability to provide a secure online payment platform. Spinlister, is an online service that allows individuals to rent others bikes, surfboards, and snowboards/skis. The most prominent differentiation between Share to Spinlister, is that the items available for rent are limitless. We give users the opportunity to rent out anything they have, giving customers a larger selection of items that they can purchase and rent. (Refer to Substitutes/Complements Chart). Share offers the ability to choose a price range, and an item to rent, giving customers more freedom to accommodate their needs. Share creates value for consumers by allowing them to save money, which is becoming increasingly important to Canadian consumers. (Refer to Exhibit 3). A substitute to Share is Kijiji.(Refer to Substitutes/ Complements Chart). “Kijiji offers a convenient, fun, and easy way for people in the same city to buy, sell, trade and help each other out in areas such as goods, cars, services, housing and jobs.” (Kijiji, 2005). Although, Kijiji does not offer a renting service, it allows users to put up items for sale at a desired cost. Kijiji is considered a substitute to our product, however, Share has many advantages over Kijiji. (Refer to GEL Chart). Share solely is focuses on renting items. Therefore, those who do not want to

(Refer to Gel Chart). Share requires no production costs, as the users are the suppliers of the products. The majority of the cost will be going towards marketing to ensure that users are using Share. This works in favour of the company because it ensures that there are no major capital barriers. Overcoming technological barriers in the verification of identification and payment is crucial as confidence in our company is important to encourage a larger user base. (Refer to Five Forces). This technological barrier can be overcome through utilizing all resources in order to set strict standards to ensure Share has smooth initial launch. In order to make certain that our company's model adheres to the strict standards of provincial and federal laws, we will implement political/legal factors, such as: Consumer Protection Act, the Anti-Spam law, and the Privacy Act. (Refer to PEST Chart). Our largest barrier to overcome is our competitors, such as, current renting centers and simply the ability to borrow from a friend. To overcome these barriers, we must strategically target to low income families and students because they would benefit and utilize the short term borrowing aspect of Share. By overcoming these barriers from the start of development, we can avoid mistakes of other similar companies, and acquire the ability to enter the market