Question

Golfgamez is an idea for a business that sells a mobile phone app for golfers. This app has three key functions: 1) GPS-enabled scoring & record-keeping, 2) facilitation of side bets between golfers, and 3) offering coupons for discounted golf merchandise from third-party retailers.

This business will have three revenue streams (i.e. app purchases, in-app coupon purchases, and in-app gambling). As you develop this concept, will you stick with all three of these streams, or will you eliminate any? Are there other/alternative streams of revenue you might add? Assuming we define our target market more specifically than "American golfers who own smart phones," what additional characteristics might you use to define your target market? Why?

Answer 1

Golfgamez is an idea for a business that sells a mobile phone app for golfers

Here app contains 3 basic features which are as follows

1) GPS-enabled scoring & record-keeping,

2) facilitation of side bets between golfers, and

3) offering coupons for discounted golf merchandise from third-party retailers.

Here GPS enabled scoring and record keeping will encourage the golfers as they will get the real time scores of themselves as well as other players which will lead to healthy competition.

Golfers who are interested for gambling can participate for gambling also between them

Golfers will always be interested for golf merchandise and offering them such merchandise things at discounted price will make them happy.

Thus as a concept I will recommend the starting of the new app and all 3 streams of revenue generation i.e. app purchases, in-app coupon purchases, and in-app gambling

For other alternative streams the suggestions can be for letting o some offers for first gambling, coupons purchase, etc

Also gambling can be made open to whole public rather than only golfers.

Additional characteristics which might be used for smart phones for americans can be android friendly and app with automatic updates while connecting to internet and making the app available on smartphones