Here's what you need to do:
·
Describe the revenue
drivers you currently include in your business concept for this class. Revenue
drivers are the different ways you make money.
Revenue
Drivers
11.
Leasing Gym Equipment - lease it to gyms around America so they can have the most up to date equipment
22. Selling Gym Equipment - sell refurbished gym equipment to individuals and starter gyms.
33. Advertisements on the
mobile Application (per click) - generate revenue through advertising for different companies, especially ones that compliment the demographics of our individuals.
44. Advertisements on the
website (per click) - same as above
55. Accessories for the
gym and nutrition - sell gym accessories and nutritional supplements.
6.
Sponsorships by
company to sell their products through our mobile application and website.
·
Describe what kind of
product offering you believe should be next. What's the next thing
your customers want?
The
next thing my customers is going to want will a personal plan maker for
free. By that I mean not the standard
find your plan, but through the use of body composition and body type, and
medical history developing a plan that can help them succeed with the
constraints they deal with.
·
Describe how this
"next" thing will enhance your existing product/service offering.
Does it improve the user experience, does it increase customer switching costs,
does it foster customer loyalty, etc.?
It
will enhance my idea for my mobile application because it will add an actual,
personable connection to the individuals’ experience using our mobile
application and website. This will
create customer loyalty, to then only buy their accessories and gym needs from
us. Despite adding higher costs to our
end it will help attract new customers, retain old ones, and add a competitive
advantage.
·
Go to Amazon and try to find a product that is similar to the one you want to offer next. Describe the product. Include a picture of the product.
This is one of a possible many equipment that
could be lease or sold through my company.
Since I am a service-based when concerning the next thing I added to my
product, I chose to search workout equipment on Amazon. As seen above this machine can be used for
pull-ups, chin ups, push ups, abdominal exercises, tricep exercises, and many
others.
·
What are the customer
reviews for the product? What, exactly, do customers not like about the
product? What do they like about it?
Overall,
this product averages 52% 5 star reviews, 22% 4 star reviews, and then evenly
split between 3, 2, and 1 star reviews. Individuals
who have bought this enjoy that it does not take up too much space. They also specifically really enjoyed that it
is self-installable, and that it can support the weight and height of taller
and heavier men. The biggest complaints surround
the assembly of the equipment. Many
individuals were missing parts or had a lot of difficulty reading and being
able to follow the directions.
·
Describe what
design/usability changes you'd make to the product.
I
would add another set of chin-up grips facing towards the individual which will
help target their biceps and forearms. I
would also distinctly label all the parts and make the instruction manual easy
to follow to build it with numbers in order.
·
Describe why you think
this product would make a good addition to your current product/service
offering.
My
actual product would make a good addition because it will add an additional
personal component to my services.
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