Market Opportunity
To complement your prior analysis of the Solution, this week’s interviews should focus on the market opportunity,with the interviewees being those with insights on the below questions. Your insights and plans in this chapter should also be informed by your primary research and secondary research. Thischapter of the business plan to be authored this week should address:
What are your specific target markets? How many buyers exist in your target market(s)? Be sure to quantify your information, and provide references.
Who are your specific customers? Be as detailed as you can by industry all the way down to who will actually use your product?
What is the state of the current market for you solution?Is it highly fragmented?
What does the market do now to address your problem? Do they spend any money on your problem? If so, how much and with who?
Do you perceive your target customers as having sufficient budget/power to actually be able to purchase your product?
For this chapter, a 2-3 page single-spaced length is appropriate. Tables, graphics, and related visual tools to efficiently communicate key information is encouraged.
Be sure to support your analysis and decisions with research and references. References may be included in APA format.
Running Head: SOLUTIONS 1
SOLUTIONS 2
Solutions
Rahshaun Smith
ENES672
9-27-20
Specific solution
To address the issue of how technology can be used in making sure that the needs and the wants of the sports lovers are fully satisfied, to solve the problem of over-crowding of sports fans in the football stands I am recommending the installation of High definition screens which would be placed outside the stadium in an event the stands are full and there is no space left for people to sit on. This screen will give sports fans a 3D experience and they will as if they are just watching it live on the stadium, therefore fans will not be struggling to get a seat on the stands since they have another alternative that will also give them the same experience as those who are on the stands (Gruettner, 2019). Virtual reality can also be incorporated to be a solution as a way of scouting players at a very young age, this can be used up to the college level where players are still considered as amateurs. From the information from the virtual reality, scouts can analyze how fast a player can run, how high they can jump, and how accurate they can pass a ball. This will help in nurturing young talent at a very young age, by identifying talented players as early as possible.
For us to solve the problem where players would like to see their fellow players play, I will recommend the development of an online live streaming platform for the respective sport which is in play since it will offer instant and customized access to the game which is in play unlike when we use cable TV (Razavi et al., 2018). By developing such a solution the problem of car congestion can be reduced since fans will not be forced to go to the stadium in order to watch their favorite games. The difference in time zone is a problem that cant be easily solved and what can only be done is that fans can either wait for the game in order to stream them live or watch it at a later time in which he or she will be comfortable with.
Benefits and features of the solution
These solutions will enable sports lovers to enjoy the games they will be watching, whether they watch it on an online live streaming platform or even on an HD screen outside the stadium. It will give them a sense of experience that will fill their hearts with joy and happiness. The feature of virtual reality will include things like getting sensory feedback about the player in question, interactivity and immersion will be made possible when using virtual reality when scouting a player. The HD TV features will include a resolution of about 720 pixels or 1080 pixels, and an online live stream will involve the use of an application that has been developed to ensure users can access it easily and download it for live streaming.
Stakeholders caring about the solution
Stakeholders should care about this solutions because they will make the sports game be lively and also allow them to experience the games like never before. A customer should care about this solution because he will not have to worry about paying high prices for ticket sales just to be able to watch the game, they can save that money and spent it on other things. Players will be in a position to have their talents recognized and nurtured irrespective of whether he is a professional or not with the help of virtual reality.
Investors will on the other hand find an extra way of generating revenue for their investments i.e. through the use of online streaming fans will be forced to download those apps and investors can take advantage by advertising their merchandise on that platforms especially for the diehard fans who will be more than willing to buy those merchandise. The value proposition for this solution is that customers will be more than willing to support their respective teams since they will have experienced different ways in which they can watch their games without feeling any pressure at all. Customer experience and satisfaction will be on the top-notch. They will not be worrying about ticket sales or even congestions in the stadium, since a suitable solution would already be put in place to solve those problems.
Comparable solutions
Yes, there are comparable solutions in other markets, soccer is another market that has incorporated the use of virtual reality as a way of improving their training method they use that information got from the VR to better themselves for future sports games. Soccer fans also have had the chance to stream live when their games are in progress, this has given them the chance of watching their matches instantaneously as they are able to watch live the events that are taking place in the field (Luo, 2020). I identified this solutions when I was talking to another sports fans during a match which we had attended, as we were discussing some of the areas which we needed improvement as a sports industry he helped me arrive into those solutions. He was a person who was more exposed to the outside world since he went around the world watching other sports which he also liked and so how those sections of the sports industry had incorporated those same technological reforms he had given me in their games. I was also able to get some of those solution by conducting my own personal research and in the end, I was able to narrow them down to those solutions I had presented.
Technical challenges
The main challenge that would be experienced is funds that would be used to make sure those solution become a reality, the things I had recommended as the solution would require money since buy and installing huge HD screens was not an easy task, using virtual reality for scouting also needed a lot of funds, and also developing an application that would support live streaming of games would not only require resources but also require time for it to be completed effectively (Gou, 2020). The risk associated with installing an HD screen can be vandalism of the screen especially after games some fans might be frustrated by the results and may decide to take it out on the screen. Another risk is associated with experiencing server down-time when matches are being streamed live, this may make a lot of fans angry since they would prefer watching the games without having any glitches to worry about.
Keeping customers
The things that would make customers not to adopt my solution is because they watching prefer watching the games live on stands rather than watching them on HD screens or even streaming them live. Since they believe that way they can get the full experience of the game as a result of the atmosphere which is would be present at the time the match will be watched.
Unseating the existing solution or business process
My solution will not unseat any existing solution or even disrupt any business process that is currently taking place because it will only be broadening the experience the customers would get at that particular point of time, while at the same time still using the existing business processes. The work of technology will only be to ensure there is full customer satisfaction and by incorporating the use of those solutions that will be a way of ensuring that aim is achieved.
References
Gruettner, A. (2019). What We Know and What We Do Not Know About Digital Technologies in the Sports Industry.
Gou, T. (2020, June). Big Data Technology and Internet+ Sports Health Industry Development. InInternational Conference on Applications and Techniques in Cyber Security and Intelligence(pp. 527-534). Springer, Cham.
Luo, D. (2020, June). The Application of Computer Technology in Sports Training and Competition. InInternational Conference on Applications and Techniques in Cyber Security and Intelligence(pp. 543-549). Springer, Cham.
Razavi, S. M. H., Nejad, M. H., Abbasi, A. R., & Shafi’zadeh, S. (2018, December). Technology and nanotechnology in the sports industry. InInternational Conference of Sport Science-AESA(No. 2, pp. 12-12). Running Head: TBSB NETWORK 1
TBSB NETWORK 2
TBSB Network
Rahshaun Smith
ENES672
9-19-20
TBSB Network
Specific Problem
The specific problem that is being addressed how technology can be used in the sports industry to satisfy the needs of the sports lovers fully, we can able to see that high-performing athletes are usually not broadcasted at an early age of their career they are not given the same chance as professional athletes. Another problem is presented where the sports lovers who have not gotten the chance to be in the stands where there are a large number of the audience found it very difficult to watch the football performances. This was because of many sports lovers who all wanted to catch a glimpse of the show, and also the ticket were sold at very high prices especially when they were resold. The huge number of funs brought a large number sports lovers made car parking to be quite impossible due to the congestion they brought with them, time-zone of watching the sports games was also a dilemma for many sports lovers because sometimes the games would be played at a time when other sports lovers who were in a different time zone would be greatly inconvenienced by it.
Sports players from other teams would also like in some cases especially when they are traveling to their games, would have preferred to see their fellow friends who had also made it in the world of sports play. Other sports network did not fully highlight what went on in the college sports completely as many would have expected especially when they went on off-screen, they also only showed and highlighted plays that were powerful segments like replays, and the things that went on between the team members were not shown. This meant that viewers were not provided with all the sports information they needed to make sports become much more interesting to them.
Why they are problems
The reason why all these things listed above was a problem was because it denied the sports lovers the ability to fully enjoy the games they went to see both the players and the fans were affected with all these problems in one way or another. Players who were very much talented were not broadcasted early enough so that their talents would be properly nurtured, this was a weakness to the existing sports networks who did those kind of jobs. The problem of overcrowding in the audience had presented itself and people didnt know what to do when they didnt get a chance of seeing the games they were eager to watch, a lot of confusion and overspending was present since ticket prices were highly hiked and car parking becomes a very difficult problem to deal with. The time-zone issue that brought a dilemma to the sports made many people discouraged from constantly following their favorite matches, it becomes something which was difficult to address.
Players also wished they could see other players play and by doing so that would have been a great satisfaction to them, the sports networks that already existed did not fully satisfy the needs of the sports lovers since they only showed them things that they thought were relevant to them. They left out many things that made sports fans to connect with their favorite players, they were not capable of fully satisfying the needs of sports lovers as expected from them. They deprived the views of the information they would make them know what fully goes on off and on the pitch. All these things are the reason why I thought that the things discussed were relevant to be termed as a problem which had befallen the sports industry.
Caring about the problems
Yes, the people in this sports industry that is targeted do care about the problems presented to them, that is why they also took an initiative of conducting a survey that showed the number of kids that sign up to participate in sports each season. The survey was conducted by the Athletic Footwear Association, Minnesota Amateur Sports, and the state of Michigan, they brought up the concerns of why kids who were performing highly in sports were not broadcasted at an early age of their amateur career. This showed just how much they cared about the kind of problems that had befallen their sports industry especially when it came to network broadcasting.
Reasons for caring about the problem
People care about this problem because if the technology is properly embraced they would be fully satisfied, players who would like to watch other players play would be able to do so by watching the play virtually, the issue of stadium congestion and inadequate parking space will be able to be solved since everyone will not be required to be in the stand in order to watch those games being played. The kids are well talented and are performing well at an amateur level will have their talent and skills broadcasted and this will greatly help in nurturing their talents. A proper bond will also be able to be created between the players and their supporters since they will have a chance to fully connect with them due to the channels that exist and allow them to connect with each other, therefore creating a good interpersonal relationship.
Solving this problem will cost a lot of money as well as time, this is because building an application that will be able to satisfy the needs of the sports lovers is not an easy task since a lot of resources will have to be pulled together to address the best ways in which they can address this particular problem. Time will also be affected that is taken into consideration when addressing how to solve this problem, the process of building an app that might be able to solve this particular issue can sometimes take more than two months depending on the kind of features and complexity the developer would like it to have. Since the app would be built to allow users to customize it to the features they would like it to have, it might take quite some time for it to be completed.
This problem is an opportunity which has presented itself in the industry and it is one of the ways people can make good money, as long as an application is built that could be able to address the problem identified a gap might be able to present itself and the developer might be able to generate a lot of money from it as well as get a good market share.
Addressing the problem now
The people are not doing much to make sure the problem is being addressed but they had conducted a few surveys to know some of the impact the problem presented and how it was dragging this industry behind.
Responding to the problem
To address this problem TBSB network has rolled out a number of solution which may assist in doing away with this problem, it has engaged in making sure an application that is used very and can be customized according to the needs of the consumers. It has tasked itself in ensuring there is an opportunity of enjoying live stream services, news updates, interpersonal connections, and message board features. It has also planned to promote fan favoritism and making an app that can be accessed by all the users that is interactive. By doing so they assist in solving the problem of how they can use technology in the sports industry in making sure all sports lovers are fully satisfied. TBSB Network: The Next Way to Enjoy Sports
In an era where social media and entertainment technology rule, it is important for industries to integrate with the times. Whether it be fashion, music, or in this casesportspeople nowadays prefer to have their daily dose of action best served hot! Technology has enabled industries to do so. Through the latest news updates and broadcasting dimensions, the sports industry in particular has broadened the access that audience members have to their favorite teams, players, and sport. Just as technology evolves with the times, I feel it is important for industries to do the same.
High performing sports are part of Americas past time. Whether one grew up playing recreationally or was graced an opportunity to perform at an upper level, sports has had some impact on the lives of millions. Considering where this admiration for any particular sport came from, it is expected to have happened at an early age. According to the Minnesota Amateur Sports Commission, the Athletic Footwear Association, an USA Today Survey, and Michigan State in 2013, roughly 35 million kids sign up each season to participate in a sport. While kiddie soccer may not be the most interesting of segments, this data does raise the question as to why high-performing athletes are not broadcasted at earlier stages in their sports careers. Considerably, that [college] would be the phase where professional athletes are segmented from the amateurs. Should they not be broadcasted as well?
Next level entertainment is under way. TBSB Network offers viewing opportunities for lovers of D1-D3 sports, particularly American football. The NCAA is a billion-dollar industry, enabling ordinary young adults to become extraordinary legends in their own athletic right. People from all over the world tune in to watch the NCAA championship and March Madness, but these events are not nearly enough of a fix for football [and basketball] lovers. TBSB sees opportunity in this industry decay, and thus, an app that fixates the right material was created.
From physical distance for family & friends, to time zone dilemmas, it was hard for people to catch my latest tackle if they were not one of the 81,500 fans in the stands. (Mind you, tickets would resell for thousands of dollars and parking was nearly impossible!). The people who were always front row at my little league games where it all started were now lucky if they could catch a glimpse of a play during the years where my football performance mattered the most.
Growing up around and befriending other athletes like myself, it was great to see my friends achieving the very dreams we shared as kids. Some of my best friends are pursuing their careers at the next level, and though I know they are well performing athletes, it would have been great to be able to see them play virtually. The delay was always that our games would occur at the same time. My time on the road when traveling to games was extensive, and I & others like myself would have been extremely amused to see our peers play-by-play. All because we play the sport, does not mean we do not like to see others play it as well.
There are other networks in this industry that highlight college sports and players, but lets acknowledge what they lack. To begin, their highlights are not nearly enough of what actually goes on off screen. Similar to the NFL, D1-D3 athletes train immensely. Many of us come from humble beginnings and inspirational upbringings that make our story more unique. Unless it is draft season, these stories are not brought to light. This disables the possibility for fans to build more interpersonal connections with their favorite player, and for college players alike to lack the chance to show our personal, normal side.
Another disadvantage that these other networks have is that they tend to only show powerful plays. Overtime occurrences, major game-changing plays, and other newsworthy events are what is typically shown after a college football-filled Saturdayand only on Saturdays. However, replays of entire games, as well as other segments relating to the teams and their players, are not portrayed. This creates a massive delay in information for college football lovers, as well as an untapped market that can potential attract billions.
Contrary to broadcasts from ESPN, TBSB offers the latest in college interviews, team updates, games, and any & all other behind-the-scene opportunities. Again, the objective of the app is to maintain a high-level interaction between fans, friends, family, and football players. The TBSB Network would specialize in these interpersonal connections with news updates, live streaming opportunities, and message board features. Through these application features, user connectivity is promoted and practiced.
Fan favoritism is also an element that TBSB plans to promote. During my time at Clemson, there were endless fans, automobiles, and businesses painted our school colors: orange and purple. Inspired by this, users of the application will be able to customize their background/theme to their liking! Daily raffles and weekly mega-raffles will be administered by these teams, giving users a chance to win various prizes and promoting use of the app.
D2 and D3 schools often rely on individual data updates for scores, player stats, and other team information. With D1 and NFL teams, their information is fact-checked and regulated for the most accurate updates. TBSB understands how lower-level divisions may be at risk for data miscalculation, and therefore, information ca only be updated by those with authority over the games [head coaches, referees, and league administrators]. For extra assurance, information will be cross-checked via browsing software with other sources of data [i.e. Twitter, blogs] so that if any potential discrepancies are identified, they can be flagged and investigated.
The audience range for this particular application is massive. Alma-maters & alumni, family & friends, scouts, agents, and many more! Football fans do not fall under the same category of age, race, or ability. TBSB understands that and aims to make the app accessible for all users. From clear & concise new user tutorials, to friendly virus-free add-ons, TBSB Network members can control and customize their usage to their liking!
Most importantly, the application will be interactive, even when inactive. Considering that fan favoritism factor, the app will flash with different colors [of course to the users liking if enabled] that will signify a new sports update on ones favorite team or player. This feature differentiates from ESPN and other sports networks, with their single [and boring] color. The flash feature will attract usage & further exemplify the fast happening news that TBSB is able to provide!
With these features and several more underway, the TBSB is forecasted to be a great success to the sports industry and technology market. The creative approach to intuitive navigation and robust features will grasp the users attention, and the love and passion that we all share for football will lock them in as TBSB member for life!
