Week 16 - Presentation of Updated Outputs and Deliverables

Following the advice we received, we have made necessary revisions to our Minimum Viable Product's 3-step process, specifically addressing the "Book a Ride," "Track the Rider," and "Complete the Ride" labels. We have taken the feedback into account and made the required adjustments to ensure improved clarity and usability within our product.

After reevaluating our Market Size, we have updated it with more accurate and factual data. While we were unable to find the exact population of commuters in Cagayan de Oro city as our Total Available Market, we employed a different approach. By considering the population of commuters in the Philippines as a whole, we calculated the relevant figures, including the Serviceable Available Market and the Serviceable Obtainable Market. This method allowed us to derive meaningful estimates despite the absence of specific data for our target city.

In order to enhance the clarity and visual organization of our Business Model Canvas, we have implemented several adjustments. One notable modification includes the introduction of color coding, which helps differentiate elements specifically intended for commuters from those intended for drivers. This visual distinction enables us to easily identify and understand the different components relevant to each user segment, thereby improving the overall readability and usability of our Business Model Canvas.

In order to establish a clear differentiation from Uber's Value Proposition Canvas, we have strategically incorporated our startup idea and unique value proposition within the products and services section. By doing so, we aim to highlight the distinct advantages and features that set our product apart from Uber and other competitors in the market. This inclusion allows us to emphasize the innovative aspects of our offerings and showcase the added value that customers can expect from choosing our product over existing alternatives.

After conducting a thorough review of our Traction Channels, we recognized the need for revisions as our previous approach proved to be complex. Taking this into account, we have carefully evaluated alternative options and selected a new strategy that promises to optimize our marketing efforts and effectively drive our growth objectives. By making this informed choice, we aim to streamline our approach, ensuring a more focused and efficient utilization of channels that will help us reach our target audience, generate traction, and ultimately achieve our desired growth outcomes.

Due to our initial oversight regarding the Serviceable Obtainable Market, we recognized the need to review and revise our Revenue Model. After careful consideration, we have developed a commission-based structure that incorporates a Dynamic Pricing Model. Under this revised approach, we apply a commission rate of 25% during periods of high demand and 15% during times of lower demand. This dynamic pricing strategy allows us to align our revenue model with market fluctuations, ensuring a fair and balanced approach that benefits both our platform and our users. By implementing this revised Revenue Model, we aim to optimize our earnings while maintaining competitive pricing that reflects the market conditions accurately.

In our continuous pursuit of differentiation and staying ahead of competitors, we have incorporated a range of additional features that truly make our product stand out. By identifying and implementing unique functionalities, we aim to provide an enhanced user experience and deliver exceptional value to our customers. These new features are carefully designed to address specific pain points and offer innovative solutions that set us apart from the competition.

In conclusion, these revisions and enhancements reflect our dedication to refining our product, aligning our business strategy with market demands, and creating a compelling offering that sets us apart in the industry. We remain focused on driving growth, delighting our customers, and establishing a strong presence in the market as a result of these efforts.