Project by: Yijing Hu

High Concept Statement: 

Instant Product Locator

Platform:

iPhone

Category:

Shopping

Need or Demand:

We believe there are people who have a desire to instantly locate the items they want to buy in nearest location

Product / Service / Solution:

We believe these needs can be fulfilled by providing location based search on products’ availability.

Value Proposition:

1) Get valuable time back and save tremendous efforts whiling ensuring the quality of the products 2) Easy and instant access to customized service 3) Personalized deal notifications 4) Targeted advertising

Competition:

1) Get valuable time back and save tremendous efforts whiling ensuring the quality of the products 2) Easy and instant access to customized service 3) Personalized deal notifications 4) Targeted advertising

Revenue Model:

1) Advertisement fee from retailers

2) the “Cost per click” fee for located store in the search results or targeted advertisements Main Cost Structure: 1) R&D cost for technical development, hardware/software/services (e.g. cloud service) to run the business

3) Marketing cost for early acquisition And the key KPIs this product should monitor are including: 1) Acquisition: The percentage of customers discover the product from different sources 2) Conversion: The percentage of customers who discover this app locate the nearest store with availability and the percentage who actually go to the suggested store 3)Engagement: -The percentage of customers return to the app when receiving deal notifications -How often the customers check the product on average

4) Retention: The percentage of consumers return for another item locating after the first time

5) Satisfaction: The rate of buying the item in one suggested store and the rate of the app in mobile app store

6) Defect rates: The daily percentage of failures reported and its trend