LO4: P7: Proposal

 Create a project proposal specification document for the new product

 Create a project proposal specification document for the new product

PRODUCT IDEA

My idea for a new interactive product is a music app that allows people to listen to their favourite music and allows users to create groups with their friends and family where they can work together to create playlists and then have the choice to either listen to the playlist that they have created together or share and listen to their existing personal playlists whether they're in the same room or across the world.  The freemium version will have a limit of 5 people per group and songs can only be listened to in mono (played using only one audio channel meaning that the sounds in both ears are equal) There will be a premium version which users can upgrade to to have up to 12 people in a group. It will also have better quality sound and will allow users to listen in stereo (played over two audio channels meaning that it creates an illusion of sound coming from different directions) as well as mono. The groups will be made by creating a free account and sending friend requests. Friends accounts can be located by either linking up your contacts for a quick add or searching their username in the search bar which is also used to search for songs, albums and artists. 

CONVERGING MEDIA SECTORS - NEEDS TO BE TWO OR MORE E.G COMPUTING AND TELECOMS, SOCIAL MEDIA AND TV, TV/FILM AND INTERNET 

My product a music streaming service and a social media. It does this by providing music like other streaming services such as apple music and Spotify and also allows users to create account and follow other users along with the ability to collaborate and communicate with other users through Audio/video call and direct messaging like other social medias such as Instagram and Snapchat. It will also include the internet as it will be accessible on the web.

WHAT THE PRODUCT DOES/SERVICE IT PROVIDES

My product is a combination of a music streaming service and a social media. It allows users to follow each other, create groups where they can then collaborate to create playlists and then listen to the together. They can also be on either an audio or video call whilst listening to the playlists or just in general the same with messages. It also allows individual use like other streaming services. users can also share their individual playlists to the group if they chose to.

TARGET AUDIENCE AND DEMOGRAPHICS

The target audience of my product is people of all genders mainly between the ages of 13-30. The users will likely be in the social classes C1-D which are Lower middle class, Skilled working class and lower working class. However since this way of categorising interests is outdated since people who earn similar income have vastly different interests, people are now categorised using psychographics which was created by Young and Rubicam. My product would most likely be marketed towards Explorers, People who like to discover new things and new innovative brands, Aspirers, People who like status brands, and mainstreamers, people who like family values and tried and trusted brands. My product can be used all over the world.

DOES THE PRODCUT FILL A GAP IN THE MARKET? IF SO, HOW DO YOU KNOW? WHY WOULD THIS BE A VIABLE IDEA?

My Product has the opportunity to fill a gap in the market since while there are many different music streaming services, there don’t seem to be any where you can collaborate with friends to create and listen to playlists. I know that it would fill a gap in the market because it is something I have wanted and I know some of my friends have wanted. This product will benefit the consumer because it will allow them to listen to music with their friends without having to try and connect two sets of headphones to one phone or playing it out of the phone speaker for everyone to here. It also allows them to create playlists together, therefore creating a memories that can last forever. 

IS IT THE TYPE OF PRODUCT THAT IS MADE BY A CONGLOMERATE COMPANY OR AN INDIE COMPANY?

This product is most likely to be created originally by an indie company. It would be suited towards an Independent company as it is able to be a stand alone product. However it could later be pitched to and bought by a conglomerate company such as apple for them to either work into Apple Music or keep as a separate app that works alongside Apple Music. It would be good if it was created buy an indie company as it would mean that I would maintain quite a lot of creative control over my product however if it was picked up by a conglomerate, I would lose that as it would need to fit with there other subsidiaries. However if it was picked up by a conglomerate, they would be able to market it through synergy by using their other subsidiaries.

DISTRUBTION OPPORTUNITIES/HOW THE AUDIENCE CAN ACCESS IT

My product would be distributed on the app store and the play store to ensure that my app is available to IOS and Android users so that it is accessible to the largest number of people possible. There will also be a web version available. There will be a freemium version which will allow all of the features however users will be limited to 5 members per group, audio will only be available through mono sound and there will be a moderate amount of adds but not during listening. However, the premium version will not have ads, it will allow the choice of stereo sound and groups will have a limit of 12 people rather than 5. 

HOW YOU WOULD MARKET THIS

My product could be advertised through the social media such as Instagram and TikTok. This would be good because most people in my target audience use at least one of these if not both. TikTok has a wide reach due to it’s for you page which allows users to discover new creators to follow and anyone has the chance of appearing on it. On Instagram you can pay for you post to become a promotional which will push it to people who don’t follow you along with the people who do. We could create a short video where we explain the functions and how it works etc. We could also create an advert that could be shared on Youtube, social media and possibly even on TV. We could create a poster/billboard to advertise it.