Andrew Chase BSAD 196 A: Product Management Spring 2010 Product to Watch: Square

1. Product to Watch: Square Andrew Chase BSAD 196 A: Product Management Spring 2010

2. What is Square? http://www.youtube.com/watch?v=QSzsFAJAKHI

3. About startup company, Square Inc., is based out of San Francisco, and backed by venture capital firm Khosla Ventures and a group of angel investors idea for the product was born in February of 2009 when Jim McKelvey lost out on a sale of $2000 at his glass art business because he was unable to accept credit card payments focused on bringing “immediacy, transparency, and approachability to the world of payments”

4. https://squareup.com/about

5. https://squareup.com/about

6. https://squareup.com/about

7. https://squareup.com/about

8. Tangible Composition

9. Total Product Concept Functional: allow individuals to accept mobile payments without the use of a traditional processing machine Aesthetic: sense of sight with its visually pleasing user interface, as well as touch with the tiny card reading gadget Customer Service: guaranteed for all issues relating to “any Square Account, payment, card processing, debiting or crediting” Psychological: ease user frustration with the process of accepting card payments because doing so is still difficult

10. Value three percent transaction fee on each swipe eliminates the need for a merchant account retailers can expect sales to rise five percent soon after beginning to accept credit card payments the timesaving aspect of Square is huge benefits received > costs, which equates to significant value that can be passed on to the customer