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Market Analysis
Market Analysis
As an app focusing on self-improvement, Profectly's primary competitors are those in the current market such as Forest App, Habitica, or Intellect. What makes Profectly unique? Well besides innovation of the tools found in other apps, such as goal and task tracking, Profectly seeks to have the widest array of tools that users can optimally prevent procrastination and have a centralized app for such.
Profectly Competitors
Profectly Competitors
Forest App - Users track work time and use that time to unlock rewards and plant real trees.
Click Up - Increase productivity for teams and considers itself to be the one app to replace them all.
Trello - Allows users to manage Projects, organize tasks, and build team collaboration.
Habitica - Users are able to complete daily tasks or goals in a game-like format with rewards and such.
Finch - Create a companion that helps with various self-improvement aspects for the user and grows alongside them.
Stay Free - Allows users to track time usage, and limit app usage.
Intellect - Provides help with mental health, access to therapy, and habit formation strategies.
How much do current solutions cost?
How much do current solutions cost?
Forest App - $4 (One time purchase)
Click Up - Free, $5, $12, or $19 (per month)
Trello - Free, $5, $10, $17.50+ (per month)
Habitica - Free, $5 (per month), $48 (per year)
Finch - Free, $6 (per month), $40 (per year)
Stay Free - $1, $2, (One time purchase)
Intellect - $6.50 (per month), $41.99 (per year)
How much are Consumers Willing to pay?
How much are Consumers Willing to pay?
When it comes to the improvement of one's self, consumers are more willing to spend money in order to do so. This idea applies to apps as well. As seen with competitors, the consumer oftentimes pays for a subscription or such in order to gain access to further helpful, premium features. However, for product success, consumers need the option of having a free option, that still has some viability, especially in the case of apps.
How does profectly fit in?
How does profectly fit in?
As mentioned previously in other Elements, Profectly's goal is to help prevent procrastination, and it is known that competitors have various tools to do such but in many instances don't target the specific problem of procrastination. In addition to this, there is potential to innovate on such concepts and create a collection of tools for the consumer, all in one app. Consumers usually need to download multiple apps to do such, but Profectly seeks to innovate and combine them into one collection of tools.
Product Demand
Product Demand
The important aspects of Profectly's marketplace study are how competitors market effectively, optimize their costs to be more appealing to consumers, and the strategies they use in order to increase usage. Although Profectly does not want users to use the app for extensive amounts of time, or other apps for that matter, it is a key objective that consumers use the app with occasional frequency so that they stay motivated. How can the team be certain of the demand for the solution to the problem exists? Simply, students and adults alike can oftentimes struggle with effectively managing their time and motivating themselves to stay organized. In this regard, Profectly seeks to target this problem in a unique way and the team is confident that consumers will attempt to help themselves rather than staying in the loop of procrastination. However, due to the nature of the app, consumers may create their own goals, tasks, etc., and falsely complete them to get points without finishing the said task. Moreover, it's possible that users may spend too much of their time on the app. Both of these obstacles will need to be combatted with future designs. Although Profectly has been focusing on students to an extent, the app will not alienate other potential consumers like those in the workforce. In this case, it is predicted that those who work whether it be at school, job, or something else, and struggle with procrastination and its effects will seek out and purchase the product.
Manufacturing & Distribution
Manufacturing & Distribution
Unlike a traditional, physical product, Profectly is software in the form of a mobile app. As a result, the manufacturing process is more about the development of the app and updates. Currently, this development/manufacturing process has been taking place on the software Figma and Kodular in order to build a clean front end and effective backend. Planned distribution is also relatively simple. The Apple App Store and Google Play Store are the two largest app stores on mobile by far. Profectly would need to be on both platforms to have an optimal impact and reach consumers to a significant extent.
Product Life Cycle
Product Life Cycle
Additional Factors
Additional Factors
Energy: Profectly as an app technically uses electricity from being on the device that uses such to function, additionally to store information, the app uses servers with Google Firebase which does require electricity. This however won't affect the app design besides optimizing database storage with Firebase to minimize functionality costs.
Software Engineering: Because Profectly is an app, in order to develop and optimize it, software engineering is required to build a functional product. In this case, for the backend prototype, the software Kodular is used to do such.
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