Слайд 3: App market competitors
Headspace: Meditation & Sleep 2-3 minutes mini meditations for a quick mental reset. Price: $ 9.99/month, $49.99/year. They have g reat SEO. Calm App allows to select what type of meditation person wants: for anxiety, stress, breaking bad habits. Price: 70$/y, 7-day free trial. Simple Habit Sleep, Meditation Price: $11.99/month or $95.99/year for Premium subscription. Meditasyon Meditate on your problematic life areas. Some meditations free, others need to be unlocked. Buddhify The Apple store offers the app for $4.99 and the Google play Store offers the App for $2.99. Subsequent access is unlimited and there is no monthly subscription fee required. Insight Timer Provides meditations and courses. Price: 7-day trial. $60/year ($5/month ). Mindfulness Personalize the app and discover the best therapies and exercises to meditate and relax according to your mood. Free Aura Suggests three-minute sessions and 3-second anxiety busters. Premium membership 12$ monthly, 60$ yearly, 400$ lifetime
Слайд 4: App market competitors
Smiling mind Developed by psychologists and educators, suggest variety of programs. Free. BetterMe: Meditation & Sleep Access to new guided meditations by the world's best teachers. 12 week plan: $39.99. Half-year plan: $69.99. Serenity Besides segmentation by problematic areas (work, health and fitness, self, kids, stress relief, sleep; provides meditation levels from basic (which are free) to more and more advanced. 10% Happier App connects people directly with expert teachers. Good for beginners. Price:$100/y, $8.33/m Sattva Price: $12.99/month, $49.99/year. Inscape Guided meditations, custom sleep sessions, stress reducers. Has a playlist. Price: $10/mon, $59/y with free 7-day trial. Stop, Think & Breathe Meditation’s suggested by the mood. Person has to fill a quick survey regarding the mood. 20 activities for free. Premium membership $10/mon, $59/y Let's Meditate Downloads meditation on your device; on different topics, even on Covid-19. Is free, ad-free. Provides you statistics on the number of sessions and minutes. Has reminders.
Слайд 5: App market competitors
Meditation Music - Relax, Yoga Free, runs adds. Ad-free version $55 one-time payment. Cool features is that you cannot fast forward the tune, you can only set time on it (i.e. 5 min) and also mix various sounds with music – thus it will not get boring. Deep meditate Uses email marketing: starts with a free 3-day journey, then will ask for a paid version. Provides stats on how often and how much I meditate. Meditation Oasis App Bundle $11.99 Purchased Separately: $19.92 Meditation Easy: 30 Techniques - Free: 'Body Centering' Meditation technique and access to information about 30 meditations and their Previews. - Three Purchase* options: 1) 10-weeks ME Program (Complete): 1 year access to all 30 meditations for €29,99 2) ME program part I (week 1-5): 6 months access to 15 meditations for €19,99 3) ME program part II (week 6-10): 6 months access to 15 meditations for €19,99
Слайд 6: App market summary
Price range There are free and ad-free options, $5, $10, $12/month. $11/month is most wide-spread price, but the charge is typically annual. Structure Many apps provide levels of advancement. Topics Many apps provide meditations on user’s problematic areas: family, stress, work. SEO Most popular apps are well-ranked and search-engine optimized. Work-related meditations Work-related meditations are provided by almost every app. High-end vs low-end More expensive apps have more topics, more levels and guided meditations.
Слайд 7: Web market competitors
Spotify meditations Next to you in your music account, always available. (Spotify standard prices) https://my.happify.com/ You complete simple tasks that aim to focus your attention on coping. Techniques include writing down what you are grateful for, writing about how to manage stress, and playing mental games. The app uses brain-training mechanics to help you relieve stress. Yearly: $139.99 per year ($11.67/month) Monthly: $14.99 Lifetime: $449.99 Collects a lot of personal data! https://www.brain.fm/pricing App divides activities by those to get more done, feel more relaxed, or get better sleep. Also dissects on those who want to quickly relax or have a longer meditation. They design their own music. Price: $6.99 per month/ $49.99 per year. Gives 5 free sessions. https://www.mindful.org/ Mindful is a mission-driven non-profit intending to help people enjoy better health, more caring relationships, and a compassionate society. It is a web portal; has a meditation section. • Subscription 6 Month - $12.99, 1 Year - $23.99.
Слайд 8: Web market competitors
https://buddhify.com Buddhify is a mindfulness application that lets you choose among meditations tailored to how much time you have and what you are doing. The meditations on the app range between 2 minutes to almost half an hour. Price: $4.99 for iPhone users and $0.99 for Android users. https://www.himalayaninstitute.org/year-long-meditation/#/ Year Long Meditation starts with your personal meditation practice. YLM At Home is a FREE portal that allows to develop and maintain daily meditation practice and stay connected to the worldwide community.
Слайд 9: Web market summary
Price range Prices on web services are as diverse as in the app market: from free, $1, $7, $13, to $15/month. Structure Many services provide levels of advancement. Choice Web services are present in much fewer quantity than apps, supposedly because apps are more convenient for use. However, web services are often portals.
Слайд 11: Exhausted product manager Alex Swabb
“ In my job I need to generate ideas, I talk to tens of people every day, I often run down and get hard up on good ideas “ Goals: Wants have a secret refresh button to have moxie to lead the team forward. Wants to always brim and brisk with ideas. Technology Use: tech savvy Interests: Several hobbies, business books, HBR, appreciates good art and innovative startups. Age: 32 Gender: male Marital status: married Education: MSc Job: PM Income: middle class Alex works a lot in teams, he has to lead the team and confirm his ideas wind up being successful. To refresh his mind he needs a little distraction, but often YouTube or Twitter just do not get him back on track just sucking up time.
Слайд 12: Yoga master and enthusiast Dana Wetton
“ I have been a yoga fan for 8 years now and it is part of me now: I do yoga in the morning, then meditate and begin my day. I encourage everybody to add a bit of yoga and some meditation in their life, it harmonizes everything. “ Goals: Be a yoga influencer on social media. Wants yoga and meditation lifestyle to spread in popularity. Technology Use: social media savvy Interests: Hiking, trekking, travelling, eco lifestyle, fresh cuisine. Age: 2 7 Gender: female Marital status: in relationships Education: BA Job: Yoga teacher Income: middle class Dana is yoga master and teacher, she projects her influencer image on social media. She is a great e nthusiast. She is excited about that level of bodily harmony she feels herself and teaches others. She supports and encourages people to incorporate yoga and meditation in their daily routines.
Слайд 13: Programmer who keeps fit Curtis McNewton
“ I go out on a run three days a week. I try to keep to my schedule. I actually like to run with somebody else more than alone. Been a year as I started, man, I feel really great; I now even eat healthier. “ Goals: Keep fit. Have interesting hobbies and lifestyle, meet with people, have interesting common topics. Technology Use: tech savvy Interests: keep adding: now it is jogging, some surfing, bike, meetups. Age: 2 5 Gender: male Marital status: single Education: BSc Job: programmer Income: middle class Curtis is one who had been sitting to much in the working chair which culminated in Netflix binge. He now started actively going out, trying out new things, socializing, he is prone to new experiences which support his health-conscious and social orientation.
Слайд 14: Cost and profit analysis
Amount Description 21600 min/month 10 mb/min bandwidth 216000 min/month always 60 min a premium user spends on the app/day 1800 min a premium user spends on the app/month 1000000 mb/month a server allows 555.5556 paying users we can allow 5 $ a user pays 2777.778 monthly income 2 % conversion in free to paying customers 27777.78 users we need to host on the platform 30 min, limit per free user/week 120 min, limit per free user/month 33332400 mb bandwidth will be used by free users 3 3.3 TB, bandwidth will be used by free users 500 $, per 15 TB 10 00 $, per 30 TB 22.22222 % of standard 15 TB needed to host free users 111 $ for 22% of standard 15 TB to host free users 1 111.1 $/month will be required to pay for free users. 1 666.667 $, Revenue - variable costs We calculated Revenue less variable costs with regard to 15TB monthly server bandwidth worth $500 and industry’s standard conversion from impression to downloads of 6% and from free to paying customers of 1-2%. The bandwidth (which can further keep expending) gives us 555 paying customers and 27777 overall. Free customers will have free 120 min/mon. Thus, paying users bring income of $2777 /month. Variable costs on free users (server cost) is $111. Revenue less variable cost is $ 1 666. 667 (For details, see 4Ps )
Слайд 16: 1. Customers value in meditation apps
P erfect streaming experience in meditation apps; M any customers value certain value of recording and celebration of their accomplishments; Customers like mastering particular topics; Customers like getting notifications for their scheduled sessions; Industry must-haves
Слайд 17: Customers do not like
Chunky and unintuitive interface; Glitching during streaming; There has to be enough free sessions to understand the value; Streaming bandwidth should be excellent. To afford servers we need to generate paying customers. Meditations on our app’s marketplace provided by independent publishers should provide customers a trial or free and paid pieces.
Слайд 18: 2. Performance benefit we provide
Get into the state quickly Being at workplace environment does not allow to fully and quickly relax in a meditation. Having connected to the world via Weditation, already meditating users get you into the state quickly: they calm you down and focus on the meditation.
Слайд 19: Unique problems addressed by our app (our delighters)
Scowl glances Colleagues glance at your side when they see you meditate. Weditation promotes itself as a meditation app for office workers. By weditating, you will be socially acceptable. Too spiritual Meditation has connotations with religions, esoteric philosophies that not everybody agrees on. Our meditations are based on social experience of connecting with people. Too solitary Our customer meditates, but has no understanding how many people meditate at the same time in the world. Social confirmation is absent when you are on your own. With Weditation, you among millions of others.
Слайд 20: Weditation value proposition
Weditation is a mobile app which allows people busy at work take a short break and meditate with people from all over the world live. It quickly refreshes you; your colleagues do not glance to your side, and marketplace allows to have various sources for meditative experience.
Слайд 21: Weditation value proposition
Weditation provides both free and premium membership. Free account provides 10 minutes a day and 30 minutes a week – forever. Paid accounts have no time limits. Weditation provides free and paid music resources or ability to tune to your fellow meditators background noise if they turn their mic on and share. Marketplace provides meditation resources from independent publishers and runs ads.
Слайд 22: Weditation value proposition
User has statistics on how many hours he or she meditated, with people from which countries. User can publish his/her accomplishments after finishing meditation courses.
Слайд 23: Marketplace cost analysis
Server capacity: 3TB Web Space 15TB Monthly Bandwidth 16GB Dedicated RAM With shy of 28K users we host on 3.3 servers we will have 3TB storage space per server, altogether over shy of 10TB of space. In case audio material piece is 20 mb, we can host 500K audio files in the marketplace. In case a piece being 100 mb, we can host 100K pieces. It means that we will have enough space for a meditations marketplace. Looking into the industry must-haves, led us to conclusion that, although we focus on amateur workplace meditators, the core meditators consider guided meditations on various life areas a must-have for an app. To cater for this category of people we decided to introduce a marketplace with independent publishers where free and paid content will be hosted. It was found that it the cost of storing is absolutely manageable.
25 4 P's Description Weditate Product Function, packaging, services Weditation is a mobile app which allows people busy at work take a short break and meditate with people from all over the world live. It quickly refreshes you; your colleagues do not glance to your side, and marketplace allows to have various sources for meditative experience. Promotion Advertising, sales, publicity Initial promotion strategy: free guest posts with a backlink to us; long-tail bloggers and influencers whom we give codes that they can share with their audience for meditations within their group: whole audience can. Social media presence. WOM. Place Distribution, logistics, channel 1) Appstore, Play market. 2) Guest blog posts links. 3) Bloggers provide links and codes. Pricing Cost, discounts, margin Free account : 10 min a day, 30 min a week. Premium membership : $5/month. Variable costs: Server costs $500. 555 paying users bring income - $2777/month. Variable costs on free users (server cost) is $1111. Revenue minus variable cost is $1666. (For details, see the table ). The marketplace will develop its advertising platform for various products: eco, healthy lifestyle etc.