Idea Napkin No. 1

1. My name is A.J. Mendola and I am a third year Food and Resource Economics major. I have been interested in phone apps since the boom of smart phones. I always thought that I could think of an app that could possible make money. I do, however, have no experience creating phone apps. I think that if I were to get the right people on board that this could be a very profitable venture.
2. My product is a phone app that allows you to take pictures of clothing items and see clothes that look similar. You will be able to buy the items right from the app. The goal here is to help consumers save money while allowing them to buy things that they want.
3. The demographic for this is relatively large. Really anyone that has a cell phone can use it. However, I do think that this will be most well suited for college students. Most college students don’t have a ton of money and really have to be smart with their money. An app that lets them get what they want for cheaper would be very appealing to them.
4. The goal of this app is to give people what they want for cheaper. The way we will make money is by marking up the price just slightly so that the items still remain cheap. Advertisements through the app will be the other way to generate income.
5. What will set us apart is the ability to get people what they want for less money. Most companies’ goal is to try to sell things for the highest price possible. Our goal will be to save the consumer money. Our customer satisfaction will hopefully bring us the business we need.

I think that these elements fit together quite nicely. Given that our goal is to save people money and that college students are looking to save money wherever they can, I think that this could potentially be a successful business. The only problem I can see is being able to create a database of some sort that holds all of the information of things that we sell.