Market research. Team 2

COMPETITION
IN THE MARKET
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App market competitors

App market competitors

App market competitors

App market summary
Price range
There are free and ad-free options, $5, $10, $12/month. $11/month is most wide-spread price, but the charge is typically annual.
Structure
Many apps provide levels of advancement.
Topics
Many apps provide meditations on user’s problematic areas: family, stress, work.
SEO
Most popular apps are well-ranked and search-engine optimized.
Work-related meditations
Work-related meditations are provided by almost every app.
High-end vs low-end
More expensive apps have more topics, more levels and guided meditations.

Web market competitors

Web market competitors

Web market summary
Price range
Prices on web services are as diverse as in the app market: from free, $1, $7, $13, to $15/month.
Structure
Many services provide levels of advancement.
Choice
Web services are present in much fewer quantity than apps, supposedly because apps are more convenient for use. However, web services are often portals.

TARGET CUSTOMERS
The three core types
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Exhausted product manager
Alex Swabb
“In my job I need to generate ideas, I talk to tens of people every day, I often run down and get hard up on good ideas“
Goals: Wants have a secret refresh button to have moxie to lead the team forward.
Wants to always brim and brisk with ideas.
Technology Use: tech savvy
Interests: Several hobbies, business books, HBR, appreciates good art and innovative startups.
Age: 32
Gender: male
Marital status: married
Education: MSc
Job: PM
Income: middle class
Alex works a lot in teams, he has to lead the team and confirm his ideas wind up being successful. To refresh his mind he needs a little distraction, but often YouTube or Twitter just do not get him back on track just sucking up time.

Yoga master and enthusiast
Dana Wetton
“I have been a yoga fan for 8 years now and it is part of me now: I do yoga in the morning, then meditate and begin my day. I encourage everybody to add a bit of yoga and some meditation in their life, it harmonizes everything. “
Goals: Be a yoga influencer on social media.
Wants yoga and meditation lifestyle to spread in popularity.
Technology Use: social media savvy
Interests: Hiking, trekking, travelling, eco lifestyle, fresh cuisine.
Age: 27
Gender: female
Marital status: in relationships
Education: BA
Job: Yoga teacher
Income: middle class
Dana is yoga master and teacher, she projects her influencer image on social media. She is a great enthusiast. She is excited about that level of bodily harmony she feels herself and teaches others. She supports and encourages people to incorporate yoga and meditation in their daily routines.

Programmer who keeps fit
Curtis McNewton
“I go out on a run three days a week. I try to keep to my schedule. I actually like to run with somebody else more than alone. Been a year as I started, man, I feel really great; I now even eat healthier. “
Goals: Keep fit.
Have interesting hobbies and lifestyle, meet with people, have interesting common topics.
Technology Use: tech savvy
Interests: keep adding: now it is jogging, some surfing, bike, meetups.
Age: 25
Gender: male
Marital status: single
Education: BSc
Job: programmer
Income: middle class
Curtis is one who had been sitting to much in the working chair which culminated in Netflix binge. He now started actively going out, trying out new things, socializing, he is prone to new experiences which support his health-conscious and social orientation.

Cost and profit analysis
We calculated Revenue less variable costs with regard to 15TB monthly server bandwidth worth $500 and industry’s standard conversion from impression to downloads of 6% and from free to paying customers of 1-2%. The bandwidth (which can further keep expending) gives us 555 paying customers and 27777 overall.
Free customers will have free 120 min/mon. Thus, paying users bring income of $2777 /month. Variable costs on free users (server cost) is $111. Revenue less variable cost is $1666.667 (For details, see 4Ps)

VALUE PROPOSITION
of Weditation
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1. Customers value in meditation apps
Perfect streaming experience in meditation apps;
Many customers value certain value of recording and celebration of their accomplishments;
Customers like mastering particular topics;
Customers like getting notifications for their scheduled sessions;
Industry
must-haves

Customers do not like
Chunky and unintuitive interface;
Glitching during streaming;
There has to be enough free sessions to understand the value;
Streaming bandwidth should be excellent. To afford servers we need to generate paying customers.
Meditations on our app’s marketplace provided by independent publishers should provide customers a trial or free and paid pieces.

2. Performance benefit we provide
Get into the state quickly
Being at workplace environment does not allow to fully and quickly relax in a meditation. Having connected to the world via Weditation, already meditating users get you into the state quickly: they calm you down and focus on the meditation.

Unique problems addressed by our app (our delighters)
Scowl glances
Colleagues glance at your side when they see you meditate. Weditation promotes itself as a meditation app for office workers. By weditating, you will be socially acceptable.
Too spiritual
Meditation has connotations with religions, esoteric philosophies that not everybody agrees on. Our meditations are based on social experience of connecting with people.
Too solitary
Our customer meditates, but has no understanding how many people meditate at the same time in the world. Social confirmation is absent when you are on your own. With Weditation, you among millions of others.

Weditation value proposition
Weditation is a mobile app which allows people busy at work take a short break and meditate with people from all over the world live. It quickly refreshes you; your colleagues do not glance to your side, and marketplace allows to have various sources for meditative experience.

Weditation value proposition
Weditation provides both free and premium membership. Free account provides 10 minutes a day and 30 minutes a week – forever. Paid accounts have no time limits.
Weditation provides free and paid music resources or ability to tune to your fellow meditators background noise if they turn their mic on and share.
Marketplace provides meditation resources from independent publishers and runs ads.

Weditation value proposition
User has statistics on how many hours he or she meditated, with people from which countries.
User can publish his/her accomplishments after finishing meditation courses.

Marketplace cost analysis
Server capacity:
3TB Web Space
15TB Monthly Bandwidth
16GB Dedicated RAM
With shy of 28K users we host on 3.3 servers we will have 3TB storage space per server, altogether over shy of 10TB of space.
In case audio material piece is 20 mb, we can host 500K audio files in the marketplace. In case a piece being 100 mb, we can host 100K pieces. It means that we will have enough space for a meditations marketplace.
Looking into the industry must-haves, led us to conclusion that, although we focus on amateur workplace meditators, the core meditators consider guided meditations on various life areas a must-have for an app. To cater for this category of people we decided to introduce a marketplace with independent publishers where free and paid content will be hosted. It was found that it the cost of storing is absolutely manageable.

4Ps
Marketing strategy
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