Assignment 4: Business Model – Ratick
February 12, 2017
My product is a VR device that allows people to watch live sporting events from the comfort of their own home. In the beginning, it might take awhile to develop brand recognition and to convince people that this is the future of watching games from home. As the year moves on, the success of the company will only continue.
The majority of my spending will go towards advertising. Early on, lawyer fees will be hefty for getting a business off in running. But going forward, advertising will be an expensive yet effective way of spreading the word of this product. For a product like this, it makes sense to spend a lot on advertising because chances are big sports fans will want to buy this product in order to change the way that they watch games from home. We’ll make money from people buying the product and subscribing to the services of streaming various live events.