Porter’s Five Force Model of Competition

The Highlanders

Group 4: Hands on Assignment #1

Created By:

Judy Lotfy

Janet Rodriguez

Michael Duran

Alex Arbogast

Pro Lecture Listener

Brief Overview:

Our business idea is to create an app that allows students to use their phones to record professors as they lecture, while converting that audio into written notes. This allows students to be able to pay complete attention to the lecture without having to concentrate on writing. This app utilizes the existing technology in most smartphones that allows users to write a text message using just their voice. Consumers will need an Android or Apple device so that they can be able to download the application from either application store. Using the app store we will be able to monitor our sales and reviews so that we will be up to date on how people perceive our application and in what areas we can improve on. Using consumer feedback we will be able to update the application whenever necessary so that everyone will have access to the most recent version of our app.

Since this app will be made for iOS and Android users, our main resources for creating the app will be through utilizing the programs: Xcode for the iOS and Android Studio for the Android version. These programs will help us develop the software and release the app in the App store. We will also form a team of computer programmers to help us create the app. Knowing that college students generally cannot keep up with note taking by hand and sometimes by typing their notes, they will be a big part of our customer base. However, we will also market towards people in the workforce because they too need to take notes and sometimes the information is very overwhelming. This app will be an essential for them, so they can take down all the information given to them. Revenue for the app will generate through a onetime purchase of $3.00 for the app in the App store. In order to continue to generate revenue, we will sell data collected from the users, so other companies can advertise accordingly through the app. There will also be a feature in the app that will allow users to upgrade by having the app take notes for the users in other languages as well. This feature will be an additional $4.00, which will also assist in creating revenue.

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