Product Management Final Business Plan
May 7, 2016
The NewsTracker is an app that would be used by TV news stations to keep track of their resources such as reporters, videographers, and live trucks and how they are being utilized in the field. The app is designed to be useful for both employees inside and outside the station. People inside the station, such as assignment editors and producers, can easily use the app to track the GPS location of reporters/videographers in the field. The app would also keep them updated on the reporters’ status as they work on particular stories. Reporters and videographers on the other hand can use the app to send updates back to the assignment desk quickly without constantly having to call in. They would also be able to see what the other reporters in the field are working on, so that they have a better understanding of what the newscast is going to look like that day.
The target market for this app is owned and operated TV stations, since they often are big stations with lots of employees and usually have substantial funding. Instead of selling the app to each individual station, we would sell it to the parent company who would then distribute it to their stations. This app will make money long term because it will be sold as software as a service. The stations will pay around two dollars a day per person. Through this pricing model, the initial investment required for developing the app should be recouped in a few months.
Stations will be willing to pay this fee monthly because it solves an important problem seen in newsrooms across the country: communication. Reporters, editors and producers waste a lot of time during the day trying to track each other down. This app would keep the entire newsroom connected in a simple and fast way. Reporters would no longer have to worry about constantly calling the station, as they could easily update the station on their whereabouts by a quick click of a button. The newsroom would also be able to make more effective decisions as they will be able to use the GPS feature to see where their reporters are during the day and determine who they should send to breaking news stories to get to the scene even faster. We would spend very little on advertising, putting most of our effort instead into traveling sales people. The only advertising we would do would be in trade magazines and through personalized email blasts.
At the moment, there is no direct competition for this product. There are similar products used for employee tracking in other markets, but none for the broadcast news business. NewsTracker would be better than those products because it designed with journalists in mind. It will allow reporters to communicate with each other and the news desk seamlessly, eliminating the need for time consuming phone calls.
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