For this assignment, I interviewed 3 different people about
their take on my stock market app. The interviews took about 15 mins and I got
a lot of interesting perspectives from it.
Some of the alternatives I presented to the interviewees
were: YouTube tutorials on stock investment, following the news closely to make
informed decisions, using stockbroker tutorials, and learning by directing investing
in the stock market. Two interviewers picked the YouTube tutorial option as
that was free and they could watch videos in their free time and learn about
the market that way. The last person chose the stockbroker tutorials as they felt
that the brokers know what they are doing and might have good investment suggestions.
The platform I am suggesting is purely online and have no
physical stores or centers, therefore online payment options are the only ones
present at the moment. All the interviewers said they would prefer an online
platform, as they don’t have to carry around cash and can cancel the subscription
at their convenience.
The customers would feel most satisfied with the product if it
solved their underlying need which was to help them invest their money safely
in the stock market. The interviewees said that they would be happy if they
start making money from the suggestions of the app. This might seem like a
challenging task because it is tough to predict the stock market, but in the long
run, they would have made a decent amount of money. The inverse is true as well,
if the customers lose money, they would not be satisfied.
After all the interviews, I realized that the app is important
to help people get started but the customers’ primary goal is to make money
quickly. Although this is possible, that is not the service I am planning on
presenting as this is not a “get rich quick” strategy. The goal of this idea is
to educate people about the market and ensure that they can make money if they
follow safe and effective investment strategies.
Hello Rahul,
ReplyDeleteAgain, I like your business idea and I also have the need to learn how to invest. I think you also offered some common alternative solutions like watching videos in Youtube. But I may not want to watch in Youtube because I am afriad the person is not very professional. It is surprised to find out that underlying purpose for people is to make money quickly but not how to start. But I persoanlly think investing is like learning a second language and we should be patient. Everyone want to be rich but we still need to learn.
Hi Rahul,
ReplyDeleteI agree that this service is best used through online platforms on computers and phones. It sounds a lot easier starting off the company like this. With this said, I think it would be a great investment to put up a physical place in a popular city later on to see if this service can also be spread through in person interaction. With this you could have several different ways to provide your service.