9A- Testing the Hypothesis, Part 2

Who: There are people who fit my demographic but to not respond to my product. There are three types of people who fall into this category: people who are happy with their existing form of care, people who want more traditional type of long-term care and people who have no plan for long-term care, and are not making any. My great-uncle is a good example of this last demographic. When I interviewed him, he acknowledged that he was aging but just insisted that his plan was to die before he ever needed any type of long-term assistance.
What: My need is geared towards people who want a flexible, one size fits all long-term plan. The type of person who would be interested in my solution would also be interested in something like a fixed annuity.
Why: No, the underlying cause, aging, is exactly the same.

Inside the boundaryOutside the boundary
People who still need long-term careThose who don't want anymore long-term care or none at all
Providing a flexible long-term care optionsA nursing or assisted living facility
Everyone agesConsumer preferences around long-term care are changing

Comments

  1. Shivani DaveFebruary 17, 2020 at 6:14 AM

    Hi Zach! I think you did a great job in identifying who would be outside this boundary and why. Many people, including my grandfather would opt out of a fixed annuity plan because they prefer care from their family or private doctors. In addition, those that would rather not receive help at all would also lie outside the boundary. While, I believe your opportunity belief could appeal to a certain demographic, there are definately people as you alluded to that fall outside the boundary.

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