24A-Venture Concept No.1

Venture Concept: MLB.TV Ads

 

The opportunity to create a way for MLB fans to watch their favorite teams out of market has always been an issue. Paying for MLB.TV can be costly for a college student, but my idea creates an opportunity for college students to create an account that provides these students the opportunity to watch their favorite teams, out of the typical TV market by simply watching Advertisements and responding to questions provided by the companies paying for these advertisements. This will allow a college student to watch his favorite team for free, allowing MLB.TV to generate capital based off of these advertisements, while the companies are receiving valuable feedback. Though, MLB.TV does provide a service without these advertisements, this can create an opportunity for baseball fans to watch their favorite teams while saving some money!·      The forces or changes in the environment creating this opportunity is the option of watching your favorite team for free by simply responding to questions based off commercials and advertisements shown during commercials and after these games conclude.

·      The market can be defined as anyone with an interest of watching an out of market baseball game.

·      Customers are currently satisfying this need by paying for MLB.TV or streaming their out of market game.

·      I do not believe this opportunity is “HUGE” but can be an opportunity for Major League Baseball to receive critical feedback that many advertisers and marketing professionals would find useful.

·      The window of opportunity will be open as long as there are baseball games being played.

The innovation in this concept is not necessarily providing out of market baseball games to those interested in watching their favorite teams from different markets, this already exists in MLB.TV. The innovation in this concept is providing these people opportunity to watch ANY out of market game by simply watching commercials and providing important feedback and opinions in order to continue the live stream of this out of market game. This opportunity to allow college students or adults willing to fill out these surveys after watching commercials would provide an interactive way for marketers and viewers to interact.

·      College students that pay for MLB.TV would be open to the idea of switching to the Interactive Ads subscription to save money. This would not directly affect the bottom line of MLB.TV since they would profit off of the companies paying to advertise.

·      Competitors include MLB.TV, online-streaming services such as Reddit. Though these competitors are different than this never before seen idea of interactive advertisements.

·      There is no packaging with this product, so packaging does not have any role whatsoever.

·      Price points would depend on the price that MLB.TV is charging for their service. This would allow MLB.TV Ads to create a particular amount of money the user would be saving. On other streaming services such as Reddit, there are no costs, but these streaming services do not provide live sports.

·      There is no distribution for this product, therefore there is no distribution roles.

·      Customer support is an essential and vital part of any successful business. We would provide our users with top notch customer support through online-chat rooms, phone technicians, and email respondents to assure that our customers are being attended to properly.

·      The Customer Experience is vital for MLB.TV Ads, as we must provide our customers with top notch interactive content from companies that are interested in acquiring the business of our viewers.

·      Business location would not really play a huge role in this company. Clearly, there will need to be a workspace for the employees, but that can be dependent on where it makes the most sense for the company. Since the customer service will be done online and over the phone, the office location is not a vital decision.

·      The organization of this business to support the ongoing production of the product, service and process would require enough interest from companies willing to market and advertise in an interactive way, creating an opportunity to receive instant feedback while our customers are able to watch their favorite teams. The number of employees would really depend on the number of users. There is no real way to pinpoint the number of employees that would be necessary until we create an idea of how many users, we would be providing this service for.

The three minor elements

·      The most important resource on this MLB.TV Ads venture would be acquiring the right analytical marketing company that can properly pair the demographic and customer market that we would target. A company that can determine what, MLB.TV Ads user, Jake Norman in Gainesville, Florida watching his Miami Marlins play against the Philadelphia Phillies wants to see. The company that would be able to use data collected by these users and allow us to properly place advertisements that would interest each and every one of our users is the most important resource.

·      The next step for this venture is to hit the ground running. Creating the opportunity to watch out of market baseball games for simply answering questions based off your data and providing these companies with instant feedback on advertisements and products would allow a symbiotic relationship between the users of MLB.TV Ads and the companies targeting these users with their product.

·      The next step for me, assuming we have launched, will be to direct and lead this project to its maximum potential. Creating an unforeseen opportunity for direct and interactive advertising on MLB.TV will create an opportunity for companies to market directly to their customers, while receiving instant feedback.

In conclusion, I believe that creating an unforeseen and interactive way for companies to receive first hand and immediate feedback from these users, who would acquire MLB.TV services for free in exchange for filling out these surveys and questions to provide this immediate feedback would provide companies with the knowledge needed to target their customers properly. Allowing these customers to market their customers directly will allow these companies to make the necessary adjustments necessary to acquire the business of these users and many mo