Assignment #5 – Clayton Dyer
April 4, 2016
My product is a mobile app called Budz, which connects users through music. Similar to Twitter’s constantly updating feed of Tweets, Budz users can see what their friends are listening to on the “Currently Listening” page, which syncs with a user’s music platform of choice (iTunes, Spotify, etc.). Users also have the ability to like and preview the songs their friends are listening to, customize their profile page, and see a list of the most listened to songs, artists, and genres in their friend group.
Budz will generate revenue primarily through advertisements located on the “Currently Listening” and “Top Charts” pages. The app will also make money through merchandising – Budz is targeted towards college-age kids and with an appealing merchandising campaign, will be able to generate revenue on college campuses and online.
The funds I have been allocated will be spent on the initial setup of the app ($3,500), design ($3,000), and server space ($100/month). Advertising will begin to generate revenue in the third quarterly cycle, with a goal to bring in $500/month with an initial CMP of $.25 and a goal of 2,000 impressions per month to hit that goal.
Budz Business Model