Napkin Idea No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

     I am Gabie and I am a web design and advertising major with a minor in business administration. I am very organized and detail oriented. Since I am extremely proactive, I am going to make sure this product is developed before other companies advance in the process. I am very creative and love to solve problems based on discovered insights. Even if I don't end up developing this product myself, I hope someone does because I really believe it is beneficial.

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

     The text terminator is an application that can be purchased in the app store that blocks all incoming and outgoing texts while the ignition is on.

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

   

I am trying to target parents of teenagers who are just beginning to drive. I think this group of customers are most likely to buy this product because they are worried about their children that just started driving and the dangers that surround it. The text terminator will stop all temptation and will guarantee that your child will never receives a text or texts while behind the wheel.

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

    They care because more teen age drivers are in accidents due to texting and driving then drinking and driving. Parents are extremely worried about their children who just started driving and will do anything to prevent them from distractions or dangers associated with driving.

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? 

Although some companies have attempted to produce such technology, nobody has tried to block incoming texts and calls. Other companies have tried to create solutions to the problem, but not actually stopped the problem. Our company, however, would simply stop the problem.

I believe that all of these five elements work together. I think that each of these elements build on each other in order to determine the product itself and whether it will be effective. I also think it is important to evaluate the customer and if the product would be beneficial to them. Lastly, I think it is important to think about your competition and how you will set yourself apart from it.

Feedback Memo:

1.     I found that they believe there is an opportunity for my product.

2.     I found that it needs to be inexpensive to thrive.

3.     I found that I need to target parents.

4.     I found that other products exist that are trying to do the same thing.

5.     I found out ways to differentiate myself.

From all over the feedback I received, I altered my napkin idea. I altered the price of my product and even made changes to the functionality. I also targeted a different group of customers. Overall, I think the feedback I received from Napkin Idea No. 1 was extremely helpful.