Existing Market (College Age, Young Professionals)
Besides the current version of Jukebaux, I believe that a partial integration of certain Music sharing attributes (pandora radio, spotify similar artists) is the next thing for me.
Based on this feedback, it seems I need to examine my pricing structure and make sure I can differentiate my product better. Not so much the physical properties but the brand positioning. I think that making everything easy to use and intuitive is one of the more important things. I cant just add small elements of other services, I have to dominate the field in one or two aspects and just have the rest there for function.
New Market (Senior Citizens, Retired)
My venture concept would be able to give the elderly a platform to listen and share the music they love in an age where traditional methods (CD, records, etc.) are becoming obsolete.
file:///Users/anthonydavila-stirling/Music/iTunes/iTunes%20Media/Music/Unknown%20Artist/Unknown%20Album/Audio%20ENT3003Audiointerview1/3.amr%20(AAC%20audio).m4a
file:///Users/anthonydavila-stirling/Music/iTunes/iTunes%20Media/Music/Unknown%20Artist/Unknown%20Album/Audio%20ENT3003Audiointerview2/3.amr%20(AAC%20audio).m4a
file:///Users/anthonydavila-stirling/Music/iTunes/iTunes%20Media/Music/Unknown%20Artist/Unknown%20Album/Audio%20ENT3003Audiointerview3/3.amr%20(AAC%20audio).m4a
The elderly still love music and are losing their tradition methods of listening to it (cassette, records, CD's) As I learned from my interviews, this demographic would love something that made listening to music easy, but were worried that they might not be able to keep up with the technology necessary. This market is not as attractive due to the extra measures needed to accommodate them. The market is large if not larger though, so we would have to weight out the benefit/risk factors.
Anthony, great job on this assignment. I enjoyed listening to the feedback you received from your interviews and like the conclusion that you drew from them. Since your venture is technology oriented I think it is a great idea to include the older generation in your target market. They can be a group that really expands your venture if you educate them about your product. Great job again! Check out my blog here: http://buschuf.blogspot.com/
ReplyDeleteWhat's gucci, Anthony??? I like your idea. It seems like it has the potential to be very successful if you focus on what you said needed improvement, i.e. making it distinct and unique from your competition. You also have a big advantage if you target the older demographic, because no other similar service seems to be really doing that. I didn't do this assignment (shocker) but here's a link to my blog http://jdlopezent.blogspot.com/
ReplyDeleteAnthony, this is the first of your postings that I have read so forgive me for not knowing the in's and out's of your venture. I am not sure if this is an app or a jukebox that you would see in a bar, but with either platform I think that the elderly market can be beneficial. If this is an app you won't have to worry about the elderly not understanding technology because if they have a smart phone then they know how to work it. If this is like a bar jukebox you can make some money on renting these out at assisted living facilities, country clubs, and retirement homes. I think you need to look more into the demographic because they also have the money to pay for specialty features.
ReplyDeleteAnthony, good post. Streaming music apps are insanely popular now a days. If you can enter that market with a successful and affordable version it could be very profitable. Moving your demographic to target elders could be an interesting venture. I feel like all ages enjoy music so if you could convince them that they could have the music they wanted accessible, they would want to use your app. Overall I think you did a good job with this assignment. Check out my post at http://ahamuf.blogspot.com/2016/04/whats-next.html.
ReplyDeleteI love the fact that you have entered not only the adult and college student market, but you have entered into the elderly-adult market. This will give you a great advantage because your product can have the greatest awareness, which generally leads to the most success in marketing. Please check out my blog post at: http://usingmediaforgodsglory.blogspot.com
ReplyDelete