- Revenue Drivers: Currently, my revenue drivers would be companies' and individuals purchases of my transportable, energy powered, outlets and individuals purchases of my phone app that can identify and locate open outlets in public areas.
- Next thing: My next thing would be to make my phone app more visual and detailed for different buildings and rooms and for my outlet, my next thing would be to have licensing agreements with companies and schools where I could add their logo on individual outlets.
- Next thing's enhancement: My enhancement to my app would be more user friendly for customers and it would possibly attract more customers. For my outlet, licensing will enhance my product because these days, people like logos everywhere as it markets your company and helps customers identify a company.
- Similar product on Amazon: For my outlet enhancement, I would add logos of companies or schools on to the outlet. Although that specific product doesn't exist, I just got a logo from Apple because this is just an example of a logo that could go on these outlets.
For my phone app, there is nothing like it on the market currently.
5. Customer reviews: Although this specific product above is not exactly what I'm talking about, the reviews still matched up because customers mainly liked the stickers and how it made their product look better. For this specific product, people sometimes complained about the durability of a logo like this, but mine would be well mine and not a cheap sticker.
6. Design/usability changes: As I just stated, my logos will be well made and etched into the outlet and not just a cheap sticker that can be scratched or peeled off. Besides that, people mainly liked the idea of the logo because it enhanced their product.
7. Why is this a good addition?: I think this idea of licensing agreements to add logos to outlets would be very successful due to our society and obsession with marketing. Anything with logos is successful such as toys, clothing items, or other equipment because people like showing off their items and companies like increased marketing. This addition would widen my product range to people that wanted something like this and not just a boring outlet.
Hi James,
ReplyDeleteI do see the angle that you were taking with adding these logos to outlets would definitely help with customization for the customer as well as marketing for the company that the logo belongs to. My concern is, how would getting these license agreements and using other logos on your product actually gain you money? It is a good idea but I see more benefits for other companies than I do here for your specific product. Nonetheless, I do like the idea because I would probably want something like that ! Here is a link to my blog http://breyflynch.blogspot.com/2016/03/the-amazon-whisperer.html
Hi James,
ReplyDeleteI believe that your niche is definitely an interesting one. I would have never thought of the challenge of finding an outlet as the purpose of building your business. But yet again, I am the type of person that is always carrying a phone charger trying to plug it in somewhere. I definitely think that your app to find outlets, and the transportable outlets have potential for growth. Nevertheless, the idea of customization with logos is something that is well available and that you will have many competitors, so I would not identify it as the next big thing for your business.
Here is my post: http://juansesoto.blogspot.com/2016/03/amazon-whisperer.html
Hey James,
ReplyDeleteReally interesting blog post! power consumption is one the most devastating problems with smart phone in todays society. It sounds like you have a pan to help reduce this problem before we get better battery technology. I hope this idea is successful, and keep up the good work!