What are you offering to customers? - I am offering a service to students that will reduce their monthly costs for streaming platforms and will consolidate all of their previous subscriptions into one subscription. My streaming service is meant to make students entertainment more affordable and entertaining.
Who are you offering it to? - The target market for my new service is UF students between the ages of 17-24. The things that my customers all have in common are that they are students at the University of Florida, they pay tuition, and they have some sort of need for a streaming service or are unhappy with the ones they currently have.
Why do they care? - Customers will actually pay money for the service because it will save them money and will provide a greater variety of tv shows and movies, as well as access to UF sports, than the streaming services they already had. By replacing all of the services that they previously had with the new one, they will be saving money each month.
What are your core competencies? - UF is not yet in the streaming business, so no service like this exists on campus. Although there are other streaming services, many students I talked to complained about the costs that accumulated each month. The things that set this service apart from others is that we would have the UF sports on our streaming service. This along with the variety and lower prices would greatly set us apart from the competition.
I believe these five elements listed above fit together to make a strong business plan in theory. The more I think about this new service, the more ideas keep popping up into my head. I think that my skills of marketing and accounting will be a big help once the company is up and running. Like I have stated before, there are no services like this on any college campus, so this is an entirely new concept that will hopefully take off at UF. I think this is a very well thought out idea that will require a lot of skilled people, a good amount of money, and many years to allow it all to come together.
Hello Ashley! I have commented on your posts before, and I continue to think your streaming service for students is a great and practical idea. Your background sets you up with nice skills to initiate a business like this. If UF did take advantage of this opportunity, they would be pioneering the way for other universities to follow. I may have mentioned this before, but I could see the CJC and comp sci students helping with this idea, as even more people could benefit by gaining experience.
ReplyDeleteHi Ashley,
ReplyDeleteI continue to like this University specific streaming service. I could almost see this partnering with student housing and becoming part of the services/rental rates included with housing costs. Students who live on campus would automatically get the service and students who live off campus could subscribe. I guess that may be a long-term scenario- Sorry for jumping ahead. Good luck with developing this further.
Hi Ashley,
ReplyDeleteI am still really liking your streaming service idea. One of the demographics you left out is that they all live on campus at UF. From how you are pitching your streaming service idea, living on campus seems to be a key requirement. As your business takes off, you will need to figure out how to exploit the idea further so you can grow it into new markets such as off-campus students or other universities.
Bridget
Ashley,
ReplyDeleteI really like your idea for a centralized streaming service for media. Saving money seems like a good incentive for people to use your platform. However, have you thought about those who share accounts for other streaming services? Some people practically get the services of netflix and hulu for free by sharing accounts. This is a vulnerability you might have to think about as well.