Assignment 4A- Forming an Opportunity Belief

Assignment 4A- Forming an Opportunity Belief

1) I believe a problem that currently exists is that there aren't enough affordable housing options near campus

2) When identifying this problem, I found that complaints regarding this issue came mainly from students. Most UF students have the same issue every year of looking for cheap, affordable housing options (somewhat) within walking distance to campus and decent enough to live comfortably in. During my time apartment hunting, I found it very difficult to find a place to live that was under or at my budget, close to campus, and suitable enough to live comfortably in. I asked around if my roommates/other friends were experiencing similar frustrations, and almost everyone I spoke with had the exact same problems I was facing. Thus, posing as a problem UF students face frequently, about every time the spring semester starts. Now, people procrastinate and end up paying very high rent prices to live decently close to campus, and even sacrifice the red flags of houses just to be able to reach campus quick and for an affordable price. I am about 65-70% sure this problem exists, mainly because most of the freshman/sophomore population tend to live on campus, and not all of the junior/seniors+ are constantly looking for housing.

3A) Prototypical Customer: A second-year male business student living a 15 minute walk from campus
4A) Question 1: What is the exact nature of the need?
Answer: Its just so hard finding a decent place to live that's also conveniently close to campus
Question 2: When do you become aware of the need?
Answer: Only when I had to find an apartment after my first-year living on campus
Question 3: How long have you had the need?
Answer: It started about a year ago, and I'm running into the same issue around this time of year too
Question 4: When/Why did you first become aware of your need?
Answer: Towards the beginning of my second semester in freshman year. I remember some of my hall mates talking about living at The Courtyards and basically begged them to let me live with them haha, especially since I was having so much trouble finding an affodable 1x1
Question 5: How are you currently addressing your need?
Answer: Uhh I'm probably just gonna renew my lease. My roommates and I get along pretty well and although it's not the fanciest, I can wake up 20 minutes before class in the business school

3B) Prototypical Customer: A second-year female theatre-major that takes a one-way 30-40 min bus ride

4B) Question 1: What is the exact nature of the need? 

Answer: The difficulty of finding housing near campus. Pretty common for most UF students I think.
Question 2: When do you become aware of the need?
Answer: I'm only just recently having this problem
Question 3: How long have you had the need?
Answer: I would say since the end of last semester. So, about 2-3 months
Question 4: When/Why did you first become aware of your need?
Answer: As I was trying to find a place to live since I'm not renewing. Basically when you (myself) told me you were moving out (this is my roommate)
Question 5: How are you currently addressing your need?
Answer: Touring apartments for the first time, and driving around looking for places that are renting. Although many of the houses near campus are really gross and unfurnished, so I may have to consider getting another apartment 10ish minutes from campus.

3C) Prototypical Customer: A fourth-year female med-student living on campus 

4C) Question 1: What is the exact nature of the need?
Answer: People are having trouble finding good housing off campus. Couldn't be me.
Question 2: When do you become aware of the need?
Answer: I'm only starting to become aware of this because I will be graduating soon, and I'm helping some of my other friends who are staying longer find a place to live
Question 3: How long have you had the need?
Answer: I havent really been affected by it, but I guess only within these past 3 weeks is when I became aware of it
Question 4: When/Why did you first become aware of your need?
Answer: Like I said before, about 3 weeks, and because I've been helping friends out but I'm sure they knew they would have difficulty finding a good place to live this late.
Question 5: How are you currently addressing your need?
Answer: Well I've lived on campus all 4 years I've been here and I had no problem with it. Honestly, it might even be better than some of the crazy ridiculous expensive apartments around here.

5) I learned that the best sample group of students to use for a study on this would be second to fourth year students who are not already living on campus. The most surprising thing I learned was that some people would actually rather just renew their leases rather than go through the hastle of finding affordable and decent housing near campus.

6) Repeated as shown

7) How much of your original opportunity is still there? Do you believe that your new opportunity is more accurate than when you started?How much do you think entrepreneurs should 'adapt' their opportunities based on customer feedback? (In other words, is there a trade-off between adapting and staying firm?)
For the most part, my original opportunity is still there, however I just needed to adjust the demographics of my target audience.  I definitely believe my adjustment allowed my "new opportunity" to be more accurate than when I started, as I now have a more focused audience I can work with. I think adapting to the situation following feedback is extremely important, especially if you're an entrepreneur. If you aren't tailoring to the changing needs of your consumer group, then what are you even trying to advertise or help people solve?