24A - Venture Concept No.1

Recently consumers have become more and more concerned about how their products are being produced and who is producing them. This has created a need for software that figures this information out for the consumer. Because of this need, I have created the app Sustainable Shopper which will allow customers to find out the environmental footprint of the items they purchase and how ethical production was. This would mean that customers no longer have to worry about what they purchase and can shop guilt-free. 

Switching to sustainable shopper will not be difficult for consumers considering the fact that there is no competition to switch from. My app is new and unique which gives it an edge thanks to the fact that it’s one of a kind. 

My business would take place in the online marketplace via the app store or the play store. It would be free with ads and the option to subscribe for an ad-free experience. This means that the app is approachable to all customers but there is a more exclusive experience for a price. 

I think that my venture’s “secret sauce” is the fact that we don’t really have any competition. While there is an app that checks food, there aren’t any for other items like clothes, furnishings, or electronics. Because of this, I think that we would have a real advantage from the start that would be hard to replicate. 

After the initial roll-out of the app I see Sustainable Shopper creating a membership service where not only do they get to go ad-free, but they also get exclusive deals on sustainable items. From there I can see it expanding into an eco-friendly online marketplace. All of this would of course be done in stages in order to gain momentum. 

Five years into this venture I want to be successful enough to create the marketplace I mentioned above. Because while there is no truly ethical consumption under capitalism, we can do our part to make it a little bit better. 

Comments

  1. Emily DulbergJuly 26, 2020 at 5:38 PM

    Hi Riley. Great job on this assignment I think you really captured how to immerse the app into the real world and I think you would have a high success rate because of minimal competition. You did a great job outlining the next steps and I like the idea of ads to generate revenue in the beginning before people can see the benefits of the app.

    ReplyDelete
  2. KayleeHollerJuly 26, 2020 at 9:40 PM

    I agree that your ventures secret sauce is that you have no competition. As long as you can attract customers and figure out a way to make a sustainable profit, you will have a successful business. I like that you have thought of offering ad-free in the future, I think this is a great revenue opportunity. I have enjoyed watching your creative business venture evolve over this course.

    ReplyDelete

Post a Comment

Popular posts from this blog

26A - Celebrating Failure

Earlier this semester I was taking a paleontology course to meet a science credit. I started the course while I was at home with my parents and brought my textbook with me. When I came back up to Gainesville I realized that I had forgotten my book at home with my parents. I needed it for the open-note exam later that week and I didn't know what I was going to do. Fortunately, my dad drove two and a half hours to come to bring it to me, but I still felt awful about having left it in the first place. What I learned was to be more mindful and make sure that I am doing everything to the best of my abilities, especially packing. Failure is definitely a hard thing to deal with. We feel ashamed and sad when we fail because we feel like we let others down. But failure is also an opportunity to grow and learn from our mistakes. Without failing every now and then, we would never learn. This class has taught me that failure is an opportunity, not an obstacle. 
Read more

18A - Create a Customer Avatar

My prototypical customer is a hippie in my mind. While being sustainable and ethical is easy for anyone to do, I see hippies being our main customers. This is because they're more likely to be the type to adopt a zero-waste lifestyle. Because of this lifestyle change, I see them as people that would use the app often. In my mind, they drive an electric car or an old used one. All of their clothes are thrifted and they shop for groceries at stores like Whole Foods.
Read more

9A - Testing the Hypothesis, Part 2

Who  Businesses that produce locally are mostly exempt as the consumer would already know where the product was made. Other businesses that are exempt would be local, sustainable businesses. What  This need differs because it meets a couple different needs. It meets both the need to know if the production was ethical and if the production was sustainable. Why
Read more