Opportunity:
Month after month millions of American over pay for cable.
Most of these Americans are either full time workers or full time student. No
matter the case the dreadful monthly bill of $100 or more for cable TV is at an
all-time high! Like myself, many others agree; although we do not watch all 300
plus channels that I pay for on cable, the thought of not having cable for the
few shows we can’t miss is repulsing. Many of my counter parts are tired of paying
100 plus dollars for 300 channels although they only watch 2 or 3 channels.
Some of them have resulted to sources like Hulu, Netflix, and Amazon Prime to
keep up with their shows and reduce their cable bills. Others and I on the
other had have not. I still pay over 100 per month so that I can have the
luxury of watching my shows as they come on. In my efforts to meet the needs of
budget and the convenience of watching a series as it comes have come up with a
plan. At this current moment none of my competitors is doing it but I know that
all they need is a little research and they will be able to provide the service
as well.
Innovation:
I have come up with a
price plan of $15.99 a channel and $12.99 per series. The joy of this plan is that
unlike my competitors (Hulu and Netflix) my customers can watch the shows as if
they had cable. I have also added in a way for customers to record their shows
like a DVR service from a cable company. What else could you ask for? My plan
to make money is in the numbers. I will have more people buying this service
than paying full price for cable. I will be the Redbox to Blockbuster.
Venture Concept
My customer will switch to my service because not only is my
prices lower but what I’m offering is still effective. My competitors are good
at movies but not being able to watch a television series when t=it comes on
can be hard for people who are used to watching shows with their friends. My
price point is going to be my selling point. The average working American may
watch 4 shows total. The cost for that would be $51.96! Why wouldn’t you get rid
of the cable bill for $190? I don’t need help with inventory but I will need
customer service reps and over the phone IT people. I will start out with 20 of
each in each city I launch until it is just too big.
My secret sauce will be my price point. Mu over head is so
much smaller than the major companies that it would be too hard for them to
lower their price to match mine.
The Next thing I would add is movies like NetFlix and Hulu,
that way when their shows are not on and they just want to watch TV they still
can
My next step would be to research how cable works. Find out
how I can get my foot in the door to make this happen. In the next 5 years I
would like to be the company that put cable out of business. As previously
stated, I want to be the Redbox of Blockbuster.
I really like your plan! the market is definitely woorking in this direction as more and more people are getting fed up with high cable prices. i have a fair amount of friends who do not even bother to get cable due to the high expense cost and instead just use an outlet such as apple tv. Keep working hard and if you would like to read about my blog go to: http://mitchallenent3003.blogspot.com/
ReplyDeleteThanks,
Mitch
Bridgett, it's a good idea, the problem is that SLING TV is already doing exactly that. I pay about $20 a month for streaming about 20 channels that I tend to watch. I pay an extra $10 for HBO. It's not quite as good as cable, but I pay $55 for 100mbps internet and $30 for TV. So $85 compared to the $220/mo I was paying for Comcast in Miami. The other competitor you'll be facing is VUDU. VUDU has a tremendous streaming catalog for rent or purchase. You only pay for what you use. I can buy entire seasons of my favorite shows in HDX resolution for less than $20-- and they're mine permanently.
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