Friday, November 15, 2019

25A – What’s Next? -


  • Existing Market - 
    • Having spent a lot of time researching my product, the next step is to expand, this expansion can be measured through either attempting to produce a measurable decline of activity on existing platforms, and expanding to other debate topics, such as legal and international law debate forums.
    • A lot of this expansion would be dictated by customer feedback and the success of the initial forum.
    • Interview #1:
      • Having spoken to this interviewee at length about my product and what it offered, they additionally suggested looking into other forums of debate that I might be able to capitalize on, saying that legislative debate was a niche topic that not many might immediately leap on to.
    • Interview #2: 
      • Having spoken to this interviewee at length, I reached out to them about my product, explaining what it offered and how it worked. They mentioned that while my pricing model seemed rather fair, I should look into finding ways to remove ads completely, as some users might find that they take away form the user experience.
    • Interview #3:
      • After speaking to this interviewee and being quizzed about my target demographic, they suggested looking into the demographics I was neglecting, such as those between the age of 30 and 60, who themselves may not be involved in the debate process, who might exist right now as an untapped revenue stream.
    • Resulting Plan:
      • Based on the varying feedback I received from my existing market, going forward, I will attempt to do the following:
        • Focus on developing different forums for different levels of debate.
        • Reevaluate my pricing model and find ways to boost revenue while still enticing customers.
        • Reached out to untapped demographics who might have an interest, such as parents and those between the age of 40 and 60 who may not have the time or energy to search forums.
      • Following up with all of these changes should definitely yield a lot of success when it comes to capitalizing on existing markets and boosting my revenue, enough to boost my advertising budget in order to entice bigger contributors to my product, which in turn can yield more control of the market to my product.
  • New Market - 
    • New Market
      • Parents who may not have time to invest into researching legislative issues, especially those that are relevant to the areas they live in. (e.g. local policy).
    • How my venture concept will create value for my new market
      • Having personally witnessed how local governments can pass ordinances that can affect school bus zoning, as well as personal life, (such as when the city of Gainesville passed an ordinance that banned single-use plastics a few months ago), this app can educate parents on local happenings that affect them and have them engage more within the local voting process for a demographic that might not have the time or energy to devote themselves to learning about local policy changes without directly getting involved in the process.
    • Interview 1:
      • My first interviewee consisted of a parent, who after I took the time to explain my product and what it aimed to do, empathized a lot and felt that they could definitely make use of it. After giving them examples of local issues that have been made into policy in the past, they admitted that they would like to be more involved when it comes to community issues and believed that my app might help them accomplish this.
    • Interview 2:
      • For this interview, I spoke to one of my neighbors, who is a realtor. Having been active in community affairs for the last few years, they agreed wholeheartedly when it came to my app, and felt that it might do a lot of good when it came to educating people about local ordinances and policy changes that might affect them.
    • Interview 3:
      • For this third interview, I spoke to an older parent, who with kids being older, also had more time to spare when it came to being involved in local affairs. After explaining my app and its purpose, they felt like it was a great idea, conceding that it was difficult to hear about local public policy issues and changes from a distance, which this app might be able to make a lot easier.
    • Reflection - 
      • Having previously glossed over this demographic due to my research indicating that young people aged 18-30 were active in the political process, along with those over 65, I feel that developing a forum that might cater to this range of people and their unique concerns might help me corner a demographic that might have been previously ignored. 
      • Most of my interviewees conceded that they could be a lot more involved when it came to lobbying for local issues, and those that didn't, felt they should after being given examples of local ordinances that were controversial once passed, indicating that there might be strong interest in this product out there. Additionally, a similar pricing plan like the one for my existing market might work for this demographic as well, especially since they might be more likely to have more disposable income they can play around with.

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