Assignment 29. Venture Concept 2

Opportunities:
People who are over weight have the need of my app. People use the app to lose weight but to also get healthy. The main reason these people want help on their journey is so they can stay on track and they can live a healthier and long life. Most of the people on the app realize that their weight is a health issue and they want to change it. There are many forces that allow this to occur but the main one is the availability of fast food. It's so easy nowadays to stop by a drive thru for dinner for many reasons, one being it's convenient and another being it doesn't break the bank account. People don't realize how bad it is for you until a couple years later they have added a couple pounds and the doctors are telling them it's time to shape up or they'll regret it in years to come. This is exactly where the app comes in, they can meal prep for their families days in advance and all they have to do is pop the meal in the oven and they are ready to go! It seems so simple in the moment but in the long run it hurts people. This market is scattered geographically in the United States there are people everywhere who are overweight and unhealthy. In other countries they have less people who are overweight and I simply believe it's because in most of those countries their fast food is healthier and they walk many places, whereas in most parts of the US you drive. Since my product is an app it can be downloaded throughout the country so in my opinion this is an huge advantage because you can workout from nearly anywhere, whether you're at home in Florida or if you're on vacation in Colorado. Also you can workout with your friends who live in different states! Demographically I would say it is more towards older generations who are overweight, you have some children who are as well but for the most past its people in their late 20's and up.

The customers are satisfying their need now by going to the gym. I think the app is better because it gives you workouts as well as meals plans. When they're done with their workout they have a meal that is healthy for them so they know they'll lose weight and feel better. Also I think the atmosphere of working out and meal prepping with other people helps people a lot. 

I think this opportunity is huge because more and more people are hopping on the health train. In this day and age people want to exercise and be healthy but a lot of them don't know where to start or how to get to their goals so with the app it will point them in the right direction easily.

I think the window of opportunity will be open forever. There will always be people who are unhappy with their health and their body so as long as you keep the app updated I believe it will work for a while. If you move with the times people will always find a reason to stay with the app.

Innovation: 

I think the only reason customer would switch is because they find a better way for them to get healthy and workout. With the app we will always be innovating to keep it up to date so unless someone finds it too expensive or it doesn't work with their schedule they will have an incentive to stay.

Venture Concept:

The competitors are the gyms in the area's where the customer lives. Gym's will have an advantage when it comes to equipment because they have everything in one place, but most if not all of the exercises you can do at home with no machine necessary. I think we will lose some of our customers to gym but it just depends on the person and what they're looking for.

I think packaging, price points, and distribution are an important part of the business concept. If we do all of these correct the customer will have no choice but to love our company. I think the price will be a big point, if we can find a price range that will fit everybody's needs but isn't  too expensive we will be in good shape.

I would organize my business like any other business. I would first start out with only a couple employees but obviously as we grow I would want to expand. I think I have an upper hand in this business because I know so many people across the US that would help me expand this business. Marketing is a huge part of this app because it's all online so we need to have a strong marketing department to get the app going and to keep it going.

Individuals will buy my product if they are looking to get in shape and start eating healthy. Businesses will buy my product if they are looking to spice up their gym, they will add our app to their price point and the customer can use the gym and app for a low price, and of course they get the meal plans with that deal. I would love the app to grow into new things as well as workouts and meal prepping, I want to change peoples lives with this app and I have a feeling with some new and initiative ideas I can do just that!

Feedback:

I learned a lot from the students and from the people I talked to through this process. The people who are already in the field helped me with some tips and tricks on how to run a "smooth" business as well as they gave me some advice that they had to learn the hard way and that would've helped them tremendously if they were in my shoes. I also learned a lot from people commenting on my blog and I took there comments and changed what I thought need to be about the Venture concept. I added titles to make it a little easier on people to understand what I was talking about and I also added a few points about fast food and where the app can be sold demographically.