Nyah Freeman and Ines Betancourt started their business “POSSIBLE” after graduating from Florida A&M University in May 2022. Nyah, whose name means “Resolve” in Swahili, has been wheelchair-bound since her senior year in high school, when a drunk driver crashed into her bicycle on a sunny summer morning. Nyah’s higher education was made possible by a scholarship from the Frederick Douglass Bicentennial Scholarship Program managed by the UNCF. While at FAMU, Nyah worked at the FAMU Office of Technology Transfer, Licensing, and Commercialization (TTLC). Her job there was to assist the Coordinator of Export Controls. During her time there, she learned a lot about licensing new products and innovations to international manufacturers.
Ines is the only daughter of a large Cuban American family and the only member of the family to ever go to college. Her six older brothers helped her financially to cover her college tuition and living expenses so that she did not have to work during her four years at Florida A&M. This gave Ines the time necessary to volunteer at her school’s Center for Disability Access and Resources (CeDAR). She met Nyah through CeDAR and they have been best friends from day one. Now they are business partners at their newly launched business.
The business (POSSIBLE) serves as a digital market for products that make daily life easier for people with disabilities. Nyah and Ines source equipment, devices, supplies, etc., and serve as a or resellers of these items to people with a wide variety of disabilities. In the fall of 2023, the two budding entrepreneurs will be working with students at the WOC Incubator at Florida A&M University. In their Statement of Purpose for participating in this program, they listed the following objectives:
1. Develop three new products that can be produced locally and affordably, each for a different target segment of their market.
2. Develop visually attractive and informative packaging for these products that will be easier for their customers to handle and open.
3. Differentiate their branding strategy for the products they develop from the ones they resell.
4. Redesign our digital platform by developing product categories that will make it easier for our customers to find the products that will benefit them the most.
5. Find out about the financial and non-financial programs for local businesses seeking to expand their existing operations in Tallahassee. They are especially interested in those programs offered by or through the Tallahassee-Leon County Office of Economic Vitality (OEV).
Please prepare a series of recommendations for Nyah and Ines that will help them accomplish their five objectives. Present your recommendations and the supporting information in a bulleted format or in a table/matrix. Please do not use a paragraph format.
When answering these types of questions, please state any assumptions you may be making; where appropriate, please provide a timeline, including any activities that must take place prior to the activity under review; once you make a well thought out decision, please explain and justify your recommendations, and finally, please link your recommendation to the relevant marketing concepts .
no sources required please
example answer is in the files