Project by:

Guruprasad Srinivasamurthy

High Concept Statement: 

Social Media app for products with ratings based on the sentiment of posts.

Platform:

Android Phone

Category:

Social Networking

Need or Demand:

Whenever we buy a product, one of the factors that affect our decision is how popular the product is. The current rating system that many e-commerce sites use, involves them asking customers to give stars as well as write their comment. But there are a lot of problems with this system

1. Comments really aren’t being factored in much, except for the number. For e.g., If a product and see that it has got 4 stars and has 500 comments, you assume that most of the 500 comments are good.

2. A comment would mean a lot if it was from somebody you know.

3. There are a lot of sites selling the same product and each site has its own rating of the product.

Product / Service / Solution:

1. Build a crowd sourced social media app where people can post/review about a product.

2. Get the sentiment of all comments/reviews that a product has got and use it to come up with a rating for the product.

Value Proposition:

1. Single place for people to review/post about any product.
2. Simple rating system.
3. Know the trending products on the market.
4. Know products liked/disliked by your friends’ circle.

Competition:

1. E-commerce sites. The problems are
a. Many sites selling the same product and each site has its own rating of the product.
b. People also comment on the things other than the product, like its shipping service, supplier etc., which affects the rating of the product.
c. No information about the distribution of people who liked/disliked the product.

2. Social Media sites: The problems are
a. If I have to comment about a product, I have to go to that product page and comment on it.
b. I still have to give stars along with the comment. More the comments, less the people going through them.

Revenue Model:

1. From E-commerce sites since they can display our rating on their site.
2. From product sellers who get a true rating of the product as well as where they stand among the competition