Technology Entrepreneurship (Assign No 2)

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Technology Entrepreneurship (Assign No 2)

  1. 1. January 15, 2009 Technology Entrepreneurship, “Identifying the Market Opportunity - Low-fidelity Prototype” Team: Synergy,Technology Entrepreneurship, Assignment #2, Stanford University Zohaib Qadir
  2. 2. Assignment Description • Create a simple, low-fidelity prototype and test your hypothesis about your value proposition. – Create a simple, basic, low-fidelity prototype of your product/service/website/mobile app. – Test your “value proposition” with potential customers by talking with them face to face, the more face to face interviews with users/customers the better. • Create a demo deck or set of slides that show your prototype and the results from meetings. • Enter the results of your research in the system which will appear on the team page. • Write about your meetings, ideas and other activities.2
  3. 3. Market Overview – Thousands of songs in user pocket • iTunes keeps track of songs by creating a virtual library, allowing users to access and edit a songs attributes. • iTunes can read, write and convert between MP3, AIFF, WAV, MPEG-4, AAC and Apple Lossless (.m4a). • Genius feature, automatically generates a playlist of songs from the users library which are similar to the selected song. • Users can subscribe to any podcast by entering its RSS feed URL, but also by browsing the podcast directory within iTunes Music Store. The front page of this displays high-profile podcasts from commercial broadcasters and independent podcasters and allows searching by category or popularity. • iTunes is user friendly and rich visual style.3
  4. 4. Use Technology to Improve Process, Ensure Safety4
  5. 5. Value Proposition “iTunes” is a new mobile app that allows user to effortlessly listen to High Quality, and diverse music at any time, and seamless music experience on customer demand5
  6. 6. Customer Segments 1. People (14 – 45) 2.Luxury Spots 3.Mass Market6
  7. 7. Low-fidelity Prototype iTunes!7
  8. 8. “iTunes” – Mobile App for music lovers8
  9. 9. How it Works 1. Go to the iTunes app from iTunes website page. 2. Download Songs, Movies, TV shows etc. 3. Click on File (of your chosen item) then Add Folder to Library. 4. App will make sure that that only one copy is in your Library by clicking it wont allow "Duplicates.“ 5. You can also add files by clicking and dragging them from a location on your computer, into iTunes.9
  10. 10. Testing Value Propositions Positive Feedback • Great idea. I’m never without my cell phone. • Everything’s going mobile. • Love it. Sounds easy. • Makes me more confident in the process. • I like the idea. Concerns • Will the app be safe? Can it be hacked? • Is the app free? How much will it cost • I want everything on the app confidential.10

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