Audible
The creators of Audible Inc had a really good idea when they came up with their business plan. It was not groundbreaking but only touched upon the market that hadn’t been touched before. Up until this point, libraries were the place you wanted to go to get a wide variety of audio books. Not even the book store had the greatest selection of audio books on tape. Audible Inc focused on providing a product to people commuting to work and those fitness enthusiast that have time on their hands to listen to a book on tape. It is usually soothing to occupy sitting or running time with something to ease the mind so naturally Audible was a perfect idea for those people. I can’t see this product being targeted to teenagers for the simple fact that teens are not really interested in sitting down and listening to a book on tape. And if they were to be driving in the car, they would most likely have their stereo cranked up all the way while listening to their favorite band. I can only imagine older people taking the most advantage of this product. Especially ones who stay in nursing homes. They have a lot of time where they sit and relax so listening to a story would occupy their time quite nicely. The great thing about Audible is that you don’t have to go anywhere to get the product. All you need is a computer with Internet service and an Ipod or digital music device that you can transfer the material to. It’s a great idea that will serve a market that had not been touched by many companies in the past.
Audible runs the risk of their spending being more than their earnings because the target audience is not one that is large enough to make the company multi millions. This is their greatest downfall. The group that would be using this service would not be a large enough population in America to produce anything where the CEO will be the next Donald Trump or anything. If anything, I can see this company making money on the side of a much larger company. That still doesn’t mean that it is not a good idea that will serve a previously untouched population.