In the process of creating a commercial product that will be successful and profitable in the market, it is crucial to take into account the market demand and the existing competition in the market. In the era of globalization and digitalization, one of the main problems students and workers face is poor time management skills. According to the research by Nayak (2019), students suffer from poor academic performance and procrastination due to their inability to master their time management. According to another study by Anthony et al. (2022), employees also suffer from inadequate time management, which constrains them from being effective in their work. Since people from different fields, education, art, trade, and business, cannot effectively schedule their time, they suffer from a high level of procrastination and ineffective use of time and, consequently, face mental health disorders such as anxiety, low self-esteem and even depression (Guessoum, 2019). In this case, a mobile application that controls its user’s time management can successfully combat the current issue of poor time management.
Ineffective mastery of time management skills leads to high procrastination and mental health problems among students. They have lower self-esteem and higher anxiety and tend to suffer from symptoms of depression. In the market, there are already several mobile applications that aim to tackle the problem of poor time management. However, most of them are either not user-friendly or ineffective. The mobile app proposed in this pitch is distinct from others with its ascetic design, user-friendly interface, and simple registration process. Moreover, one of the main features of the mobile application is that it will be created with the help of mental health professionals and allow users to get push notifications with beneficial tips for maintaining their mental health. Finally, one of the proposed mobile app’s strengths is that it is adapted to the users’ preferences, schedules, temperaments, lifestyles, and goals.
The main target audience of our product is those who are engaged in writing scientific papers and reports, especially students and workers. In other words, this mobile application has an opportunity to cover the needs of representatives of different age groups. Moreover, the number of target audiences interested in this product is demographically increasing, and, according to the statistics, more and more people now suffer from ineffective time management; the launch of this mobile app can bring potential success and a lot of revenue to its stakeholders. The estimated cost of the app creation is $30,000, with potential expenses of $15,000-$20,000. However, the app’s usage will be based on monthly payment and will have basic and premium types of subscriptions for its users. It means that the users’ subscription payments can quickly cover the initial expenditures for the product launch.
In conclusion, as people nowadays encounter serious problems with their academic and work performance and mental disorders because of poor time management ability, there is a need to address this issue using an innovative approach. The mobile application represented in this business proposal can be an effective and profitable solution due to a number of unique features such as a user-friendly interface, the ease of registration process, push notifications with psychological advice, and a simple and bright design. Considering the high demand in the market and the increase in the targeted audience, this product has an opportunity to succeed in the market.
References
Anthony, E., Opone, I. E., & Olasojumi, W. (2022). The impact of time management on employee performance in some selected transport companies in Edo State, Nigeria. Management and Human Resource Research Journal, 11(12), 46-51.
Guessoum, N. (2019). Students need time management skills if they are to succeed. Arab News.
Nayak, S. G. (2019). Impact of procrastination and time-management on academic stress among undergraduate nursing students: a cross-sectional study. International Journal of Caring Sciences, 12(3), 1480-1486.