Our group was interested in creating an app that would facilitate a way to connect people, mainly, students in higher education and business professionals looking to connect/network but without the available bandwidth.
We’ve looked into an estimation for how many students would be in higher education, we’ve found estimates from the National Center for Education Statistics to quote the amount at 15.9 million. If each student was to directly purchase the app for just one dollar, that would be a potential sales size of approximately 16 million dollars. Assuming an even distribution of age groups, since there are approximately 300 million Americans, we estimate that there are 300 * (40 years working age on conservative side/80 years life expectancy) 150 million workers who this app could be used for. Assuming that we’re targeting white collar workers, with an estimation of 20% of jobs being white collar, this would be 30 million people. If businesses were to get large, company wide licenses, this could easily cost 10 dollars a person, for a total of 300 million dollars from this area.
Looking at our interviews, I interviewed an instructor at a tutoring company who remarked about the need to know when questions were needed by students. I also had an interview with a consultant who remarked that she wanted to know convenient times where she could network with other higher ups. Further considerations will need to be made as to what features are finally incorporated and how to best target our market.
