This project consists of three phases: costumer
exploration, product design, and business model generation. During the first
phase, we are going to perform a market research. Information about target
markets or customers will be gathered. This data will help us prepare our
initial business model. Market research is a key factor to maintain
competitiveness over competitors, it provides important information to identify
and analyze the market need, market size and competition. Market research,
which includes both social and opinion research, is the systematic gathering
and interpretation of information about individuals or organizations using
statistical and analytical methods and techniques of the applied social
sciences to gain insight or support decision making. In order to make this
market research, we are contacting different companies from different
industries. Our goal is to make them try the prototype that has been already
developed and receive feedback from their experience. After showing the prototype
to the different companies we will obtain feedback from the potential users and
subsequently improve our product. Finally, once we decide and develop the final
software we will come up with a business model. The business model represent
core aspects of a business, including purpose, target customers, offerings,
strategies, infrastructure, organizational structures, trading practices, and
operational processes and policies. In order to be successful in our business
model, we will be using all the information gathered during the market
research. This will help us target the right industries and be competitive with
other current products in the market.
