Chosen Market Segment:
College/University Students
Interviews:
As a student at UF, connecting with my market segment was as simple as talking to a few students in Turlington square. I asked each student about 5-8 questions regarding their current test-taking experience with Scantron tests. Most students revealed that they only receive raw scores of their Scantron tests on Canvas. Additionally, most students do not review their right/wrong answers since it takes time and effort. All of the students interviewed expressed their interest in an improved system that involved a feedback loop with Scantron tests. From these interviews, I gathered that the students who were likely to benefit most from the feedback loop were those that took classes which have cumulative tests.
Conclusion:
I enjoyed my time interviewing students in Turlington Square, and the experience gave me needed insight into my market segment. Through my interviews, I learned that most students would benefit from a feedback system with their testing experience. I have correctly identified that there is a need for this type of product. Students find value in the feedback loop since it not only tells them their needed areas of improvement but also saves student's time and effort in doing so.
29A – Venture Concept
Venture Opportunity Opportunity Every year there are a few hundred thousand students that take standardized tests such as the GRE/GMAT/...
Raymond, your idea is great! A feedback loop would support the system of knowledge. It would reinforce the actual principles we are learning here at UF. Reinforcement is a great way to learn, but you only can reinforce once you have feedback. Final exams are often cumulative so not knowing what you did wrong on a previous test makes it difficult to improve in those areas.
ReplyDelete-L
Hi Raymond,
ReplyDeleteI think it was great that you interviewed students at Turlington. It might have also been a good idea to interview students in a large, difficult class that often requires a lot of feedback. You can also pitch the idea to Study Edge. I know they give practice exams without scantrons but you can see if they like the idea of a scantron to give feedback.