Black-owned ride service: Moovn

[MJ Truth]

Then we should focus on industries that have less price sensitivity and can appeal to a target market through differentation.

It's not realistic to expect black people to pay significantly more for the same service/goods that they can get from a major corporation.

Clothing, restaurants, entertainment, are less price sensitive and those industries we can grow in without huge amounts of capital. Even niche markets related to high end goods and services, are areas we can penetrate. But generic mass market goods and services, we aren't going to compete unless we do a fierce job of obtaining capital.

What we can also do is be better at creating our own VC, Private Equity, angel investor groups that can fund these type of businesses to put in them in position to be competitive in the market.

Actually, it is VERY realistic and EXTREMELY common.

Black people significantly more to these Korean and Indian shop owners for things that could be getting cheaper elsewhere.

 

[Larry Lambo]

Actually, it is VERY realistic and EXTREMELY common.

Black people significantly more to these Korean and Indian shop owners for things that could be getting cheaper elsewhere.

Examples???

 

[Koba St]

One is a differently spelled version of a word used in a common expression questioning the need for a ride and the other sounds like a transport service for cattle?

If you want to support a black owned business, you should probably find a company creating a market or in the mix when a space is being created because any black owned startup probably isn't creating a business to cater to black people, but to get acquired.

Why are you nitpicking over a name?

 

[King Sun]

Examples???

Bundles and hair products

 

[Larry Lambo]

Bundles and hair products

There must be a perceived improvement in quality (whether real or not) for women to pay more for product they can get elsewhere for cheaper.

If a business can create a sense of "better quality" then yes people will pay more. That's why Bevel has had moderate success and could be applied to clothing, restaurants, entertainment, and other non price sensitive fields. But if there is no perceived or actual improvement in quality or convenience, people are not going to pay significantly more just to "support".

Without major capital, it would be easier for a small business to specialize in first class ride services (limo's, concierge, etc), than to compete with mass market providers with billions in funding.

 

[无名的]

Why are you nitpicking over a name?

Because your brand is everything. A bad name can make or break a business whether it's legal, sales or marketing. The name isn't the worst I've ever heard. I'm just not a fan. I'm also just one opinion.

 

[hashmander]

Actually, it is VERY realistic and EXTREMELY common.

Black people significantly more to these Korean and Indian shop owners for things that could be getting cheaper elsewhere.

the black people that pay more for those things more than likely don't have access to cheaper stores (or the ability to buy online) and are just shopping at the stores closest to them.

dollar vans/cabs in brooklyn are an example of how you fill a gap in the market place while offering the target audience convenience and lower costs.

Dollar Vans: Inside NYC's Huge, Hidden Transit Network

these business owners aren't just saying "hey i'm black owned, now pay whatever i say it costs." they offer value.