Expert answer:marketing
Solved by verified expert:How will the team go about analyzing the data collected from the surveys? What kind of statistical analyses will be conducted for each survey? the survey and the information about the idea are attached use them to answer the question
possible_product_idea_2.docx
uswap_su_application_survey.docx
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S UNIVERSITY
Possible Product Idea 1: Uswap
College students now have the luxury of picking items tailored to their needs that are on
campus.
Concept Statement: Have you ever enrolled in college and wondered where you could find the
cheapest book, furniture or microwave for your dorm room. The average student who does not
have the means for transportation or those who simply do not feel like leaving campus now have
options. Introducing University Swap “Uswap” select your university and find those in the same
area as you. Uswap provides college students an opportunity to sell, trade, or exchange items
with other students on campus.
Uswap will allow students to post pictures and a video displaying the item. There is also
information about the location, what condition it’s in, and the description. Students can sell used
textbooks, clothes, furniture, electronics, and more items tailored to the university. A student can
receive notifications on when a new item is posted of their interest. A great tool for entrepreneurs
on campus as well. Uswap is a platform where entrepreneurs can sell products or services to gain
university support. In order to use the app a student must subscribe for $2.99 a month, create a
profile providing a photo, university name and valid university email address. One goal is to
ensure safety on the app. Uswap can instant message others on the app instead of giving out your
number. Also, when ready to meet up and purchase an item you must provide a location and time
on campus.
Target Market: Start with S University students then venture off and add other colleges to the
app. S has an enrollment of 7,689 students in the Fall 2016. On average S enrolls 1,020 new
freshman each year. First, targeting freshman and most frequent foreign students from Saudi
Arabia and Nigeria to have a feel and understand campus life with the app.
Prospective Level of Demand: We do not expect every individual on campus to have the app,
however we do push for 90% of individuals on campus to create a profile. Launch of the Uswap
individual will be able to test and understand the app. To grow the Uswap app we plan on
contacting SU organizing such as entrepreneur society, campus activities board, student athlete
advisory committee. Allowing these organizations to give feedback and market through word of
mouth.
Financials: Raise money for this high tech app can be an estimate of nearly 1million dollars to
reach its full potential.
One-off App development Cost
$25,000
Marketing and other forms of Adverts
$500
Working Capital and Cost of Fixing Bugs
$12,500
Total Start-up Cost
$38,000
Customer Attraction: Uswap app is a platform that helps university students buy and sell items
locally. Subscription fee of $2.99 is a reasonable for the average college student minimal for
affordability. With updated notifications, and textbook trading students will find a need to
subscribe. These few attractions will gain membership and feedback from university students
will lead Uswap to be the #1 app suggested.
Pros:
•
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•
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Students will receive notifications
Entrepreneurs will have a way to display their products/services
Provides convenience for student to stay on campus
Allows items to be recycled
Support campus unity
Network with other members
Cons:
•
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Safety issues
Competitions with OfferUp and Let Go app
Rapid growth sometimes means not everything is sorted out before ideas are
implemented
After students graduate how to keep them in the loop
Uswap is A GOOD IDEA for the following reasons:
• Uswap is an app that helps student’s finance. It satisfies the need for students to make
money from items they no longer need. The opportunity to earn some quick cash is
considered more attractive for students than any other need the Link-to-Info and WAY
app can offer.
• The economics of the business is also put into consideration. The startup cost for the
Uswap app is the second cheapest of the three apps. Relative to its relevance, the app is
considered to have a shorter pay-back period among the 3 business ideas. It will also help
conserve cash outflow in the early years of the business.
• The Uswap app also has the greatest potential for expansion of the 3 business ideas. This
is an app that other university campuses will quickly embrace. Even though all the 3
business ideas have the potential for expansion, the Uswap app will receive the greatest
customer attraction.
• Finally, the Uswap app offers a better networking opportunity. Students exchanging
items amongst one another can become close acquittances and such networks can subsist
even after university years.
For the reasons specified above, the team considers the Uswap app an ideal app and a business
idea that will be well received among the student population. It will provide a greater return on
investment and we consider it to be the app to look out for.
For S University Use Only
USwap SU Application
Description: USWAP is _______
Questionnaire:
Would you be a USwap seller (sell your S University paraphernalia, school supplies, Gym
clothes, etc.)?
Do you have easy access to alternative options (for things like SU gym clothes vand lab
equipment) to the S book store?
I have plenty of access 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 I barely have access
Would you be a USwap buyer (purchase the products sold on the app)?
Extremely like Likely Unsure Not So Likely Extremely unlikely
Textbooks are offered at a reasonable price at thee SU Bbookstore?
Extremely Agree
Somewhat Agree Unsure
Somewhat Disagree
Extremely disagree
How likely would you be to purchase S USwap for $0.99?
Extremely like Likely Unsure Not So Likely Extremely unlikely
How often do you purchase applications on your mobile device?
(Not At All) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (All the Time)
How often do you kook for used books online?
(Not At All) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (All the Time)
How often do you look for sales in the S Book Store for paraphernalia?
(Not At All) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (All the Time)
On a scale from 1-10 How do you feel about S prices for school paraphernalia and textbooks?
(Not expensive at all) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (Very expensive)
If the USwap app was available to download today, how likely would you be to download on
your mobile device?
Extremely like Likely Unsure Not So Likely Extremely unlikely
Do you think this app will be useful to students? (Scale from 1-10)
(Not At All) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (Very Useful)
Level of Desirability for this kind of app to emerge for S Students
(Not At All Desirable) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (Very Desirable)
How often will you use this app
(During the beginning of the semester) 1 – 2 – 3 – 4 – 5 – 6 – 7 – 8 – 9 – 10 (Throughout the Year)
Check which uses this application should be sold on the USwap app
– School paraphernalia
– Gym clothes and accessories such as basketballs, yoga shorts and tennis brackets
– Professor gowns and attire
– Graduation robes and attire
– Textbooks
– School supplies
How old are you?
17-24
24-29
30-40
Other _______
What is your classification?
Circle: Freshman Sophomore Junior Senior Graduate Professor
What is your ethnicity:
Black White Spanish Chinese African American White Other
Thank you for taking the time to take this survey!
…
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