Day 03

We have done more analysis on our business proposition and these are the results:

Key Partners:

We try to use „earned demand creation activities“for our relationship with our key partners. Mailny we want to work together with bloggers and guys from the local market:

·       Bloggers are not any longer wired nerds or geeks how nobody wants to share time with. Nowadays these guys are very hip and show theirs’ followers the next trend. Thus, we believe to get more customers by getting promoted by different bloggers. On the other hand these bloggers benefit from promoting us because their followers then get informed about new and hip apps. This increase the customer relationship between the bloggers and the followers

·       Even if we want to act globally, we are aware of the fact that we should think locally. Therefore we try to work together with young designers. This again provides a win-win situation for both sides; the designers benefit from an increased customer reach, we benefit from trendy outfits with a regional touch

Key Activities:

·       The first Key Activity we have is the smooth flow of data on all the different communication-platforms we support. We have to take care that the access to our app is possible on different advices and that our users can share their images, thoughts, etc. easily on different websites

·       The second Key Activity is the programming of software which is able to cut out the cloths of the background of a picture. This software should be very easy to operate, best would be if it works automatically without bothering our customer

Key Resources

·       The most important Key Resource is the knowledge and passion of our employees. As our founder-team is very divers we have to pay attention to collect and store as much knowledge and experience as possible. Besides that we have to acquire external knowledge for e.g. creating a data-base or programming software to cut out the cloths on a picture.

·       We want to store the information about our customer in a cloud. There also should be located the software for the cloths and our database for the images. Thus cloud service is another Key Resource

Cost Structure

·       Our biggest expenses are the creation of the software and database. Due to some contacts of our founder we obtained a rough estimation of the costs, which is approximately 1,500€.

·       Besides these expenses we are aware of the fact that with a growing number of users we have to  spend more money in the database plus maintaining it

·       To put it in a nutshell we calculate with overall expense of roughly 2,000€

Value Proposition:

We provide you a virtual closet with all kind of clothes and shoes in your mobile device. So, you can make your combination and decide what you are going to wear even before arriving home, on your way. You don't need more to spend hours in front of a mirror as you have already options on your phone or tablet.

 Furthermore you can:

- Upload to your personal page and your FFF(friends, family, friends of friends) can 'like' it, write suggestions and opinions for you.

-Share your combination on your other accounts such as Facebook, Twitter, Instagram...

Customer Relationship:

We plan to reach the critical market size by using a freemium model: basic features for free, others (like expert or model advisers)for a little fee.

Bloggers' opinion is extremely important for us as we want them to be our first customers. Fashion bloggers that use our application can highlight it and also give us some feedbacks in order to improve our MVP.

Channels:

Core channel of this product will be mobile applications, which will be user friendly and accessible when and where our users want. They can control their virtual closet online and offline. But in order to upload their combinations and get some feedback, they would need Internet connection. Additionally, not only mobile application but also web browser version of our product will be on the market. For the ones that want to check their profile on laptop, it will be easily available.

Another important point of our MVP is that user can share their combinations in their other social media profiles such as Facebook, Twitter and Instagram

Revenues

We have establish a freemium system in order to enter the market, looking for a deep and fast market penetration working according to the following criteria:

-      Innovators & Early adapters: 3FFF (Friends, family and friends of friends), free user.

-      Early adapters & chasm: Market, free user for 15 outfits, if they want to upload more 0.99 eur/year.

-      Chasm & Early Majority: Market, pay user 0.99 eur/year.

Special services as professional opinion will be charge sparely.

Market Segmentation

We have established our Market as woman’s between 14-30 years old. This segmentation has been settled due to the believe that is the market is the one who cares more about fashion, use smartphones and social network daily and appreciated the time the used to decided what to wear.