Amazon Whisperer

1. 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 for my product would come from advertisements and the franchises paying a specified fee for tailoring my product according to their consumers' predicted behaviors.

2. Describe what kind of product offering you believe should be next. What's the next thing your customers want?

Since my product is an app, I can offer the next thing my customers would want via software updates. The next big thing would allow the customer to upload and share their favorite customized meals and/or drinks onto social media. Since food is already constantly uploaded onto sites like Instagram and Facebook, users of the app will feel compelled to show off their latest creation.

3. 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.?

This next thing will enhance the features of my current offering by implementing a social aspect to the app. This improves the user experience by giving him/her the chance to visualize other potential food creations.  

4. 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.

First, it was believed that 3D TVs would be the next big thing. Now, virtual reality is currently marketed as the next big thing for consumers. Its described as a device that puts the consumer right into the action. Its immersive and allows the user "watch Hollywood's best movies in [their] own private cinema."

4. What are the customer reviews for the product? What, exactly, do customers not like about the product? What do they like about it?

Majority of the customers who reviewed this product gave rave reviews. Most of the reviews stated the following as pros and cons:

Pros
1)  Affordability
2)  Decent Amount of content
3)  Easy to set-up
4)  User friendly interface

Cons
1) Video quality can be grainy or disorienting
2) After long periods of use, it can become fatiguing on the eyes
3) "Having a cell phone at your head"

5. Describe what design/usability changes you'd make to the product. 

Based on the feedback, I would upgrade the processing chip of the VR to improve the video quality of the content. I would partner up with companies like Hulu, Disney, or Marvel, to improve the amount of content available to the user. Lastly, I would talk to engineers on ways to lessen the impact of virtual reality headsets on the consumers' eyes.
 
6. Describe why you think this product would make a good addition to your current product/service offering.

Due to the fact that it is inadvisable for users to use VR while in a vehicle, there is currently no way in which it is possible to combine the two products. Quikpay is a mobile payment service that allows the customer to utilize a franchise's menu options. However, I'm pretty sure that the franchises that I'm in contract with will attempt to create an application on the VR headset that will allow the consumer to visualize the possibilities.

My Unfair Advantage

1. Accountability: My product requires consumers' trust and a willingness to input their credit card information for payment. My venture will have a constant team of engineers working on ways to improve the strengthen my app. In other words, in light of recent hacking attempts across the globe, my product can be trusted in the hands of the consumer.

2. Accessibility/Simplicity: Upon opening the app, the user will be able to seamlessly interact with the app and choose in detail what type of menu items they would like. This is where companies like Apple succeed because of the ease of their products. That being said, my product will be accessible for all users to understand.

3. Accommodation: My product will be used by a diverse range of consumers coming from various cultural and economical backgrounds, so it would be imperative for the app to adapt to each unique customers' need by analyzing the customers purchasing history.

4. Utility: No longer dependent on an employee at the drive-thru, the consumer is free to experiment with whatever the franchise has to offer. Ever wanted to try a "flop" (a Miami term meaning half lemonade, half iced tea)? The consumer is able to go beyond the usual one menu fits all approach. 

5. Decentralization: My venture will be less concerned about titles and positions of power, but instead, more focused on bringing together our collective solutions and ideas to better serve the consumer. Too many companies are stuck in that traditional 20th century way of doing business, unknowingly blocking talented people at the bottom from the getting the opportunity to express their ideas.

6. Awareness: In order for my product to work, it utilizes NFC technology, which allows it to transit information back and forth between the consumers phone and the franchise restaurant. The app must be aware of any consumer trends in food preferences like GMOs or Gluten free options. The app will also attempt to save the consumer money by displaying location exclusive savings that vary.

7. Energetic: It's never safe to become complacent. This is especially true in the app world where they are many apps with original ideas that are, sooner or later, imitated and marketed as the next big thing. My team will consistently find ways on expanding in more areas than just the drive-thru. 

8. Marketability: A good product means nothing if its not able to capture the consumers' attention. Providing consistent marketing campaigns that resonate with the consumer is the one and only goal. As my product becomes more marketable, corporations will want to form a strategic alliance in order to find ways of tapping into the consumers' preferences.  

9. Driven: My start-up will be staffed with individuals who share the same vision as I do. We will be ambitious in our goals of reaching a global audience. We will be resourceful and monitor potential opportunities that could expand our reach. 

10. Idealistic: No company ever succeeds, and continues to do so, without thinking outside the box and being willing to face failure. My venture will attempt to solve consumers annoyances in ways that others wouldn't attempt. We will set the trend in which the competition will try to follow.

Being idealistic is the top resource for my company because it allows experimentation and feedback from the consumer. This, ultimately, allows my company to grow and be receptive of what the consumer wants.

Week 10 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

What stood out to me the most was the pro forma statements because I've never heard of them until I read the chapter.

2) Identify at least one part of the reading that was confusing to you.

Nothing was really confusing because it was self-explanatory. This chapter was a reiteration of the core accounting and financial principles that any entrepreneur must remember.  

3) If you were able to ask two questions to the author, what would you ask? Why?

I would ask the author the following two questions:

From a long term perspective, how will American businesses thrive in an economy in which the dollar is not the reserve currency? China is a major international player in the global economy, so I believe it's only a matter of time until foreigners, like China, start to switch to the Euro. I'm curious about the impacts of such a switch. 

What are the top five ways in which a start-up venture could protect itself from falling victim to the "failing within the first year or two" myth? It is important to keep, in my opinion, a consistent set of values that keep your company from falling a part, so the author's top five would be beneficial to hear.  

4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

No, there wasn't anything I disagreed about in the chapter. In fact, my favorite part of the chapter was the global perspective: when currency loses its global value.

Elevator Pitch 3

This time I decided to be more relaxed and just go with the flow. I incorporated all of the feedback I was given by explaining more clearly what my product does and how it addresses the consumers' needs. The feedback was generally recommending that I make sure that I'm marketing my product in a effective way that captures the investors' attention. I decided to use my hands to convey my message just a little bit more to feel relaxed.

Week 9 Reading Reflection

1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?

 This chapter reminded me of a lot of the things that were mentioned in my marketing class. However, something that stood out to me was the mobile marketing section, which went into more depth on how to integrate, individualize, involve, and initiate. These concepts form the four Is and create a comprehensive strategy on how to utilize mobile social media.

 2) Identify at least one part of the reading that was confusing to you.

 This chapter wasn't hard to understand, but I would have to say that the affiliate model for pricing in the social media age is confusing. I would have liked to see more examples of what the affiliate model represents.

 3) If you were able to ask two questions to the author, what would you ask? Why?

 I would ask the author, what's the best model to use for social media pricing? Facebook and other apps have earned millions from the freemium model and still continue to do so. How much should be offered for free before it becomes unprofitable?

In your opinion, what are some companies that could use some new marketing techniques in order to revamp their image? I feel like Chipotle is a company that could use a new marketing scheme to attract some of the consumers that it definitely lost from the health scare. BlueBell is another company that comes to mind when I think of changing marketing strategies.

 4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

 This was an informative chapter, so I felt as if the information provided was unbiased and objective. The author outlined steps and solutions on how to address marketing in the digital age. The resources he offered were, in my opinion, credible and backed by evidence.

My Secret Sauce

1) Describe five ways in which you think you have human capital that is truly unique. What is it about you, exactly, that makes you different? Write this up in a detailed list. 

I would have to say that I'm extremely ambitious. I normally tend to veer away from the status quo because it's boring to keep things the same. That being said, I'm always looking for ways in which I could push or innovate myself.

I'm more optimistic than the average person. Before I decided to transfer into UF, I had a lot of people telling me that I wouldn't have the requirements needed to get accepted. But I choose to ignore them and stay focused on improving myself and refraining from any negative self-talk. My optimism spreads from myself to the people that I'm around.  

I have an achievement-oriented personality. Most of my coworkers would say that whenever I'm given a task, I focus solely on it so I could give it my full attention. 

I'm realistic and practical. "Matter-of-fact" persona - I pay close attention to detail. I like to improve my skills by following closely to the way "things are supposed to be."

I'm open-minded and willing to see things from a different perspective. I would describe myself as rational because I know that I don't have all the answers, so I always ask for others opinion on something before starting on a project.

2) Interview the five people who know you the best.



I have a keen sense of what's going on around me and I think that's something employers would love to have on their workforce. I agree with this because I'm always on my phone looking up current events.



Some people require a "push" in order to strive towards a goal. I'm really diligent when it comes to completing an assignment or task.



Being strong-minded and determined are two traits that are necessary to thrive in the workforce. I agree with what she was saying because there have been times where I've been forced to think outside  of the box.



Confidence is another trait that managers value in an employee. I agree with this statement because I always remain assertive when I'm attempting to persuade someone about an idea or subject.


All the qualities described in this clip are important to have as human capital. These qualities are central to becoming your own leader one day.

3) Reflect on the differences.

There weren't any differences from what I described in the first list. All the people I interviewed said similar statements regarding what makes me unique. Human capital is something that we all bring to the table in our own individual way because we have unique talents and experiences that have ultimately shaped us. 

Idea Napkin No. 2

1) You. Who you are. What your talents are. What your skills and experiences are. Also: what are your aspirations? Specifically regarding your business concept, how do you see this business (if you were to start it) playing a role in your life?

I am a person of integrity. I am someone who often goes beyond the mark to satisfy what others' want, which is both a positive and negative characteristic. My talent would have to be that I'm more emotionally inclined than others; thus, allowing myself to carefully gauge someone's attitude or behavior towards something or someone (No, I'm not a psychic). 

2) What are you offering to customers? Describe the product or service (in other words, how you'll solve customers' unmet needs). 

With the helpful input of Skylar, my product is an app that allows customers the convenience of, while at the drive-thru, using their smartphone to utilize the entire franchise's menu and customizing their order. The app will use Near Field Communication to gather information (deals, specials, payment) from the franchise and sending it to the user's phone.

3) Who are you offering it to? Describe, in as much detail as possible, the demographic and psychographic characteristics of your customers. Think especially of this question: what do your customers all have in common?

This product is targeted to consumers who enjoy the added benefit of not having to awkwardly speak to a sometimes working drive thru speaker or, deal with a limited menu option that doesn't fully show what's offered. The Drive-Thru menu at Sonic's has a ton of menu items on display that causes confusion and increased wait-times as opposed to streamlining their offerings. In a sense, I'm offering an app that seeks to ease or eliminate the inefficiencies of both businesses and consumers. 

4) Why do they care? Your solution is only valuable insofar as customers believe its valuable to them. Here, explain why customers will actually pay you money to use your product or service. 

As I mentioned in my previous Idea Napkin, customers love options. I don't believe that they is an one approach fits all solution. In a way, it's similar to variety of options that consumers are presented with: McDonald's to Burger King, Samsung to Apple, and Google to Bing. Consumers will care for my app because it expands past the traditional menu and allows greater freedom to individualize. 

5) What are your core competencies? What sets you apart from everyone else? Also: what do you have that nobody else has? `

I'm willing to pursue my dreams till I cant anymore, so I think that kind of sums me up. I'm a hard working individual who loves working with others to gather their input and feedback.


All of these elements fit with my product offering because it caters to my mission statement and vision. My product aims to bring the 21st century to the drive thru area by simplifying the experience for the user. Eventually, my app will reshape the ordering system when customers come inside to order their foods. The central focus remains on the customers, which ensures that the offerings displayed are driven exclusively by the needs of the customer. 

Top Feedback

• "That would be incredibly convenient as the person in front of you orders you would be able to place your order in to assist in eliminating time from the process." - Skylar Busch

I decided to make sure I noted in this Idea Napkin the implementation of NFC technology, which allows cars behind the person ordering to also be able to order. 

• What if when the customer pulled in the drive-thru that the app would pull up special offers based on the customers buying habits. - Keith Bailey

The app will tailor to each unique customer and suggest special offers and deals. 

• I think if you teamed up with certain drive-thru restaurants they might cut you in on a percentage based on how many repeat customers you brought back - Keith Bailey

I can see myself forming a strategic partnership with some fast food restaurant to offer even more incentives for return customers.  

•  How is the phone connecting and does that connection leave it open to attack from someone outside the restaurant? - Kamil Jackson-Chaka

The same technology used in iPhones and Androids, Near Field Communication, will be used for submitting and paying for the orders. 

• Could it be activated by someone with a Wi-Fi router or Bluetooth transmitter at any time? - Kamil Jackson-Chaka

No. Like most products in the digital age, there is a probability of hacks/misuse, but I will have a team of engineers to deter these potential acts.