Value Proposition Canvas

this is a group project. my part is Value Proposition Canvas for our walking Buddy App.
I wrote my initial ideas of the value proposition for our app in the first document, you can follow these and get deep into it. if you have some good ideas u also can put it in. our main market focus on Toronto and Montreal.
The link above is a 5mins video about what is Value Proposition Canvas.

Thanks.Walking Buddy Analysis
There’s a lot of people who have to walk outside late at night in
bad neighbourhoods – for example, McDonald’s workers have to work
shifts around the clock. Other people, such as parents for elementary
school children, have to set aside time in their schedules to walk home
with their children to ensure that they get home safely. For some
people, this may not be feasible: a single father, for example, may be
working when the child gets out of school, so some other solution has to
be figured out. Our Walking Buddy app is designed to solve this
problem: with a simple mobile interface, people can schedule a walking
buddy, track their location, and make sure that they arrive home safely.
For our company, we’re looking to meet goals of enhancing the
community, providing solutions for some big problems, and just
providing convenience. This app would meet all three of those: our
business model will be built around a crowdsource technique, similar to
those presented by Uber and Lyft, so people will be forming
connections with others in the community; the prime objective that we’re
achieving with the app is to solve a huge problem, which some people
may be facing every day; and by presenting our service as a simple
mobile application, it will be highly convenient for users to access.
Users can simply call up the application, make a request for a walking
buddy, and have a friend to walk with – as well as providing other
important tools like background checks on our walkers, tracking their
location as they walk home, etc.
After working through the Seven Domains analysis, we can see
that this idea would be mildly feasible. Our team has the skills that we’d
need to realize the idea, with experience in developing mobile apps and
connections to people who can help us to identify how to distinguish
between people who would be worth trusting and having as walkers vs
those who may not be safe choices. There’s also an existing market for
the product: in particular, people have shown that they’re willing to trust
others when using services like Uber, so this provides an opportunity for
our service where people will be willing to give it a try. The industry is
also ideal for our app as there are few existing competitors in the
market, with most of the industry instead focusing on things like
ridesharing and getting to a destination quickly, rather than providing the
cheaper service that we’d offer. However, we’d have a hard limit on how
much of the market we’d be able to grab: if we get too high of a market
share, a service like Uber could come in and snatch up our market. For
that reason, our ideal target should be to build ourselves up to a decent
market share – and once other ridesharing apps take notice, we’d be
able to sell our company to them for a profit.
Appendix – Walking Buddy
Market – Micro Level
At the micro level, the Walking Buddy app will be marketed
towards people who would be safer walking with someone than they
would be walking alone. A few potential targets would be late night
workers (those working overtime or those working shifts, such as high
schoolers working at fast food restaurants) and parents of elementary
school children who would need a guardian to watch their child.
For those markets, the app will provide a sense of safety that
people may not have access to otherwise: people can walk together in a
group, making them less likely to be attacked, and parents can ensure
that a guardian will be around when their children are leaving school.
This is a market for which there are not currently any great solutions, so
there would be a potential market for the product.
Market – Macro Level
At the Macro Level, the future of the market is shown with a PEST
Analysis, with the biggest changes being at the Economical, Social, and
Technological levels:
Economically, as shown in Appendix B (TODO), the market for
mobile apps is continuing to grow, so this gives a growing segment
through which the app can be released. This will allow the app to reach
more customers as more and more people get into the mobile app
market.
Socially, people have been shown to be trusting of others in
recent years with the success of other crowdsourcing apps like Uber
and Lyft. This provides an opportunity for our app to be released to a
market who will be willing to try out the idea.
Finally, technologically, smartphone use gives people greater
access to services like those that are offered by the Walking Buddy.
This will also allow us to track the location of the walking buddies so
that parents can ensure their kids are being walked home safely and
keep watch over their children as the buddy watches over them.
Industry – Micro Level
From a micro level, the app has few competitors: there are no big,
existing products that offer the same concept of walking with a buddy
that our app would offer.
Industry – Macro Level
From a macro level, the app faces a difficulty of potential
competition. The current leader in crowdsourcing is Uber, who owns the
market for ride sharing; if they decide to integrate a walking buddy
feature into their app, they can take over any market share which we
would have built. This would provide our app with a ceiling of how much
of the market we can earn, as if we grab too high of a market share,
Uber will come in and take over.
Team – Mission, Aspirations, and Risks
The app fits into our team’s goals of community enhancement and
solving problems: one of the biggest problems of recent years is people
feeling threatened in unsafe neighbourhoods and our app would allow
these people to feel safe. Most of the work would center around
developing the app, which is where I can use my own skills, while the
rest of the team would be able to identify ways to ensure the safety
goals that we aspire towards are met. The biggest risk would come in
terms of the product failing, and so it would be ideal for us to make an
initial prototype to test the market – and only proceed to developing the
higher-level features once we identify that a market for the product
exists.
Team – Execution on Critical Success Factors
The biggest success factor will be in ensuring that walks people
make through the app are handled safely. The app will quickly fall apart
if a person is hurt by one of our walkers, so it’s of utmost importance
that we only allow the most trustworthy people to sign up as walkers in
the app. Some ways that we can do this are to ensure that they do not
have a criminal record, to run personality checks on them, and to find
an expert in the field who can help guide us through assessments.
Team – Connectedness
By being Carleton students, our team has access to some of the
world’s leading experts on psychology and security through the
psychology department of Carleton University. These professors can be
asked for assistance to ensure that we develop a thorough method for
testing that potential walkers can be trusted.
APPENDIX B (TODO) – Mobile App Growth
Figure B. United States mobile apps market value forecase, $ billion,
2018-23. Taken from MarketLine Industry Profile: Mobile Apps in the United
States, by MarketLine, December 2019, retrieved from http://
search.ebscohost.com.proxy.library.carleton.ca/login.aspx?
direct=true&db=bth&AN=141216799 Copyright 2019 by MarketLine.