19A – Idea Napkin No. 2

You: As mentioned in the first assignment, I am a general business major with a specialization in international business. On the personal side, assignment 16A gave me some more insight into what I am good at. Because I moved around a lot, I am incredibly adaptable. I am not afraid of change and doing things differently if the first solution doesn’t work. I also learned from my friends and family that I go out of my way to make people comfortable and build relationships with people. I also work to be a good listener. One of my friends mentioned that I remember small details of what people have said to me, I believe this ties back into being an active listener. My skills and experiences come from volunteering and fostering. These experiences taught me to work in teams and customer service. As for aspirations, I aspire to get my masters and hopefully go to law school. If I were to start my business concept, I would focus most of my available time working and implementing my ideas.

What are you offering to Customers? I am offering an app that students can use to find parking on campus. When students open the app, all they have to do is place their intended destination, and the app will tell them of any available spots and let them know what the traffic is like at that time. Students can opt-in to get notifications of any new places opening in the area.

Who are you offering it to? The app targets college students with cars. The market falls into three categories:

• On-campus: The students are between the ages of 18 to 22. They are unmarried and have no children. Their salary comes either from their family, their jobs, scholarships, or student loans. The students can rely on more than one source of income. They are moderately involved on and off-campus in addition to being a good student. They are somewhat involved because having freshmen in the market, they are new to the campus and are still trying to find their way around. They value time-management and free-time when they can get it. On-campus students that have a car likely use to shop, hang out with friends (off-campus), work, or go home.
• Off-campus: These students are around 20 to 24; this includes both undergraduates and graduates. Their salary likely comes from parents, student loans, and their part-time job/internship. They are highly involved on campus and have interned or are currently interning. They are likely not to be married or have children, although it is a possibility. Off-campus students use their car to get to campus, their jobs, shopping, to hang out with friends, and to go home.
• Similarities: Their similarities are that both want to find the easiest and quickest to any problem that they have. During college, everything seems to move at a rapid pace that needs to include any app that they use.

Why do they care?  College students value time. They are focusing on so many things, whether its relationships, work, school, extracurriculars, and athletics; college students look for other things in their lives that could be simplified. If an app for parking gives them the chance to sleep in even a couple of minutes, they will take it.

Core Competencies: Firstly, I know the pain these students are going through because I am in the same position. Alternatives like the bus are unreliable, or decals are costly and ineffective. Also, I am around the people I am targeting, I have heard their complaints firsthand; this ensures that I know what my target market needs are.

Evaluation:

Almost everything fits together. I know that there is a need on campus on an effective strategy for finding parking. The app is easy and quick enough to adapt, and it is on their smartphone, which almost every student has. There may be a slight learning curve on how to utilize the app but not big enough to turn people off. One of my problems was figuring out how I would generate revenue from the app since I will not be charging for usage. Many in my group suggested selling ad space for the time being in their feedback. They also indicated that if that app is successful enough, that university may back it up and expand to include off-campus places like bars and clubs. The last problem I had was figuring out how to gain intel needed to inform students of available parking. The feedback the students gave was hiring or recruiting someone who knows how to develop an app, and that code it in a way that the app will work.

Feedback memo:

1. The first point I took away was that there are several ways that someone can generate income. Selling Ad space allows me to keep the app free but still have money to update and better the app. And if successful enough and the university sees potential in utilizing the app, that could become a new source of income.
2. The second point that I took away from the feedback was that there is no shame in not knowing everything. I have absolutely no background in programming or in developing an app; it is okay to ask for help and advice for areas that you are unsure of.

I incorporated these ideas into my evaluation to show how my concept was fitting together and making sense.