Project Process

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.