Throughout
my interviews I realized that I needed to change my idea and tweak it some.
Rather than creating a one giant streaming app and managing that It was
suggested that I switch the focus. I switch the idea to an application based
service that manages all the subscriptions that you pay for. You will be able
to see the cost of the subscription on a per month basis, the yearly saving you
will have if you were to cancel the subscription, a one-click cancellation
button and also show cheaper alternatives for a similar service.
WHO: Through
the second-round interviews after I have tweaked my idea from its original form
I find that there are a lot of people that fall into this market. These individuals
are those that sign-up for multiple subscription-based services, and are
looking to save money. Three of the people the I interviewed are living on their
own, without support from their parents (the scary real-world). All of them
agreed that they would like to see how much money they are spending. One of
them mentioned that they had no idea that they were spending $60 a month on
Blue Apron and another $20 a month on Dollar Beard Club.
The only people what fall out of this are people that
carefully track their finances, and those that do not have any subscription
based services which they pay for. In this day and age the latter is quite
unlikely.
The last person in which I interviewed mentioned that I could
expand this to show peoples purchases and chart them to see where they are “wasting”
money. They thought that it could also double as a personal finance app and show wasteful expenditures.
All the interviewees mentioned that once they get on their
own they would like to have this service to have a back-up to see how much
money they are spending and see if there are any cheaper alternatives to what
they are currently doing.
WHAT: This
differs from the need from a financial planning app, which one interviewee brought
up. They use a financial planning app to keep track of how much they spend per
month. Ex/ 25% of expenditures went towards food 15% towards beverages etc.
WHY: I
believe the need is different those who do not pay for subscriptions do not
need to worry about how much they pay on subscriptions, money saving
alternatives, and cancelling those ones that they do not need anymore.
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INSIDE THE BOUNDARY
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OUTSIDE THE BOUNDARY
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WHO:
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People who are concerned about money
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People who mooch off other
peoples subscriptions
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People with too many subscriptions they forget how
many they have.
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Those who don’t care about money
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WHAT:
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Make smarter financial choices
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Eliminate wasteful spending
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People not knowing what things cost.
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WHY:
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To keep people in charge of their
finances
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Make people informed consumers
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Great job on this assignment. I like your idea still, very innovative and original! Good call that people who mooch off of other people's subscriptions are not inside the boundary. Also, good to recognize that eliminating wasteful spending is not necessarily the scope of what you are trying to do but just helping them not pay too much on their subscriptions. There is a difference. Way to go, as always.
ReplyDeleteGreat job with this post, really with these series of posts! What you're trying to solve is the finances of streaming subscriptions, not people's finances overall. Also, the fact that you switched your focus was very cool because many people don't have the same outlook on the problem with streaming services as you do. This allowed you to create a very unique idea!
ReplyDeleteI like how you tweaked your idea, this is definitely more do-able than trying to go up against all the big companies. This would be a great tool for people to have to see just how much they are spending on recurring expenses. You could maybe even get companies to give your customers a discount if they signed up for their service through your app.
ReplyDeleteReally like this idea, the fact that you can check if there are similar cheaper streaming apps can really make you save some money. I always think that there are cheaper streaming services that are cheaper and even better. Look forward to reading more of this idea.
ReplyDeleteReally cool idea for sure. It almost reminds me of what PlayStation is currently doing with their new app on their console. $9.99 a month and pretty much every classic game is on there ready to play for no extra fee. I have played tons of game on it and it costs the same price as it would to buy two games a year.
ReplyDeleteI really like where you are going with this idea. Streaming services are obviously really popular in today's world so your target market is extremely large. I also got a kick out of the fact that you recognized the moochers out there, because I am guilty of that for one or two streaming services. Finding places where you can save money is a great idea as well, good work.
ReplyDelete