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1 | Problem Statment | How might we help audible users retain the information they learned from non-fictional audiobooks? | ||||||||||||||||||||||||||||
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3 | Our Product | Direct Competitors | Indirect Competitors | |||||||||||||||||||||||||||
4 | Product | Audible | Apple Books (Audio books) | Libby by Overdrive | Scribd | Headway | Readwise | Blinkist | ||||||||||||||||||||||
5 | Product Overview | |||||||||||||||||||||||||||||
6 | What is the product | An Amazon app for listening to audiobooks and podcasts | E-book reading and store application developed by Apple Inc. for its iOS and macOS operating systems and devices. | An app that allows user to get free ebooks and audiobooks from their local libraries | Digital library for audiobooks, ebooks, magazine articles, podcasts, sheet music selections, and research documents | A bite-sized learning app that gives users key ideas and insights from the world's bestsellers books | - Readwise is an app that sends user daily email resurfacing highlights from Kindle, Instapaper, iBooks, and more - Readwise Reader (beta) is a read-it-later app that saves all notes and highlights in ne place and allow users to highlight web conten, ebooks,, articiles, youtube videos, etc. | An app that offers key insights from top nonfiction books and podcasts in a made-for-mobile format. | ||||||||||||||||||||||
7 | Rating | - Google: 4.6/5 (1M reviews) - Apple: 4.9/5 (4.4M reviews) | - Google: NA - Apple: 2.7/5 (5.2k reviews) | - Google: 4.2/5 (66.6k reviews) - Apple: 4.8/5 (2.2M reviews) | - Google: 4.7/5 (590k reviews) - Apple: 4.6/5 (24k reviews) | - Google: 4.4/5 (42.6K reviews) - Apple: 4.7/5 (70.3k reviews) | Readwise - Google: 4.3/5 (401 reviews) - Apple: 4.8/5 (783 reviews) | - Google: 4.4 (86.1k reviews) - Apple: 4.7 (101k reviews) | ||||||||||||||||||||||
8 | Target Audience | Auditory Learner, Busy professionals | Individuals who own Apple devices and enjoy reading electronic books and audiobooks. The app is available on a variety of Apple devices, including iPhones, iPads, iPod Touches, and Macs. | Book lovers who like using their local libraries | Individuals who enjoy reading or listening to books and other content on a regular basis - Enjoy reading or listening to a wide variety of books and other materials - Are interested in reading or listening to multiple books or documents each month - Want the flexibility to switch between different types of content | Busy professionals who are interested in learning personal and professional development | Power readers, learners | Busy professionals and individuals who are interested in learning personal and professional development | ||||||||||||||||||||||
9 | Number of users/downloads | - Google: 100M+ downloads | - Google: 5M+ downloads | - Google: 10M+ downloads | - Google: 5M+ downloads | Readwise - Google: 100k+ downloads Readwise Reader - Google: 5k+ downloads | - Google: 5M+ downloads | |||||||||||||||||||||||
10 | Pricing Model | Audible Plus: $7.95/mo - Stream or download thousands of titles in the Plus Catalog including audiobooks, podcasts and Audible Originals. Audible Premium Plus: $14.95/mo - 1 credit a month for any title in Audible entire premium selection - Access to thousands of included audiobooks, podcasts, Audible Originals, and more. | - Free - Content available for purchase - Rumor report: Apple Books has a subscription service called Apple Books+ that offers access to a collection of audiobooks and e-books for a monthly fee | - Free | - $11.99/month to get access to their entire library | - $99.99/year *$49.99/year discount available | - Lite: $ $4.49/mo - Full: $7.99/mo Free trial will be extended by 30 days for every friend the user invites | - $79.99/year *$47.99/year discount | ||||||||||||||||||||||
11 | LIbrary size (esp. Non-fictional books) | Depends on the local library | 300,000+ audiobooks | 1500+ summarized nonfiction bestsellers | N/A | 5,500+ nonfiction books | ||||||||||||||||||||||||
12 | Product Features | |||||||||||||||||||||||||||||
13 | Bookmark | ✅ | ❌ | ✅ | ✅ | ✅ | ❌ | ✅ | ||||||||||||||||||||||
14 | Edit highlighted clips | ✅ | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ||||||||||||||||||||||
15 | Add notes to highlighted clips | ✅ | ❌ | ❌ | ❌ | ❌ | ✅ | ✅ | ||||||||||||||||||||||
16 | VoiceOver (Text-to-Speech) | ✅ | ❌ | ❌ | ❌ | ✅ | ✅ | ✅ | ||||||||||||||||||||||
17 | Audio sync to ebook | ✅ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ||||||||||||||||||||||
18 | Sleep timer | ✅ | ✅ | ✅ | ✅ | ❌ | ❌ | ✅ | ||||||||||||||||||||||
19 | Car mode | ✅ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ||||||||||||||||||||||
20 | Playback Speed Adjustment | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ||||||||||||||||||||||
21 | Search for clips/highlights | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ❌ | ||||||||||||||||||||||
22 | Catogorize clips/highlights | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ❌ | ||||||||||||||||||||||
23 | Tagging system (sub category) | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ❌ | ||||||||||||||||||||||
24 | Spaced repetition to review highlights | ❌ | ❌ | ❌ | ❌ | ✅ | ✅ | ❌ | ||||||||||||||||||||||
25 | Product Analysis | |||||||||||||||||||||||||||||
26 | Product Strengths | 👍🏼 Integrates with other Amazon products such as Kindle and Alexa 👍🏼Customize their reading experience by adjusting font size, background color, and page layout 👍🏼Ability to edit bookmarked clips 👍🏼 Wide variety of titles available 👍🏼 Automatic syncing across devices 👍🏼Offers WhisperSync feature to sync audiobooks on Audible with ebooks on Kindle | 👍🏼 Large selection of e-books and audiobooks 👍🏼Customize their reading experience by adjusting font size, background color, and page layout 👍🏼Support for multiple languages 👍🏼 Automatic bookmarking and progress syncing across devices 👍🏼Integration with VoiceOver: a feature that reads text aloud using a synthesized voice, making it easier for users with visual impairments to access books. | 👍🏼 Have access to public libraries resources and database 👍🏼 Users can borrow books for free, instantly 👍🏼 Offers books in different formats: ebooks, audiobooks, and magazines | 👍🏼 Large selection of e-books and audiobooks: Scribd offers a wide range of books, documents, and other content, including bestsellers, classics, and new releases in a variety of genres. 👍🏼 Unlimited access: With a Scribd subscription, users can access an unlimited number of books, documents, and other content. 👍🏼 Multiplatform compatibility: Scribd is available on a variety of devices, including smartphones, tablets, and computers, making it easy to access content on the go. 👍🏼 Customization options: Scribd allows users to customize their reading or listening experience by adjusting the font size, background color, and other settings. 👍🏼 User-generated content: In addition to accessing content from the Scribd library, users can also upload and share their own documents on the platform. 👍🏼 Regular updates: Scribd regularly adds new books, documents, and other content to its library, keeping the selection fresh and up-to-date. | 👍🏼Time-saving and convenient because the books are summarized into bite-sized content 👍🏼 Offers repetition feature to review highlights 👍🏼 Creates personalized growth plan to help the users focus on their learning goals 👍🏼Offers learning goal setting and tracking feature | 👍🏼Many features to help users learn and retain information from books 👍🏼 Many integrations integrate with the users' learning workflow: - sync to highlights from Kindle, Instapaper, Pocket, Medium, Twitter - sync to note-taking apps like Evernote, Notion, Roam 👍🏼Have a tagging system to organize highlights 👍🏼 Search feature to help users quickly retrieve highlights 👍🏼 Ghostreader feature, a GPT-3 copilot of reading to help users summarize readings, define terms and more | 👍🏼Time-saving and convenient because content is only 15-minutes long 👍🏼Blinkist Spaces for users to share titles with others. They can also add notes to the titles 👍🏼Personalized book recommendations | ||||||||||||||||||||||
27 | Product Weaknesses | 👎🏼No learning features 👎🏼 No notes/clips organization features 👎🏼 Limited social and sharing features | 👎🏼No learning features 👎🏼No search bar or filter for free 👎🏼 No notes/clips organization features 👎🏼 Limited selection of e-books and audiobooks 👎🏼 Compatibility issues with certain e-books or formats 👎🏼 Lack of customization options for reading preferences 👎🏼 Limited social features for interacting with other readers 👎🏼 Limited discoverability features for finding new books | 👎🏼 Users need to wait if books are not available in the local public library 👎🏼Only users with a public library card can borrow books from the app 👎🏼No learning features 👎🏼 No notes/clips organization features 👎🏼 Limited social and sharing features | 👎🏼 Limited selection of content 👎🏼 Limited offline access 👎🏼 Limited customization options 👎🏼 Limited social and sharing features 👎🏼 Compatibility issues 👎🏼 User interface issues - glitches in app results in interface issues | 👎🏼 Only offer book summary 👎🏼 Limited selection of books 👎🏼 Lots of pay walls in the app | 👎🏼 Do not support audio format content 👎🏼 Dependent on the quality of notes and highlights 👎🏼Require additional time and effort to write, review, and organize notes and highlights | 👎🏼Only offers summaries of non-fiction books. It does not provide the same depth and context as reading the full book 👎🏼Limited content selection 👎🏼Summary quality may vary 👎🏼No learning features | ||||||||||||||||||||||
28 | Positioning | |||||||||||||||||||||||||||||
29 | How to win (What are the opportunities for our product to win?) | 🥇 Use voice command to highlight content and add notes 🥇 Use voice to add notes to highlighted clips 🥇 Use Alexa to create routine and relisten to highlights 🥇 Offer short audio summaries of books and chapters 🥇 Integrate with other note-taking apps or create our own new feature to provide users a place to store and organize their highlights and notes 🥇 Create social features that'll allow users to interact with other listeners and share their reading experience | Direct Positioning Analysis: 🥇 Implement a search bar or filter to improve the app's navigation and searchability 🥇 Expand the selection of e-books and audiobooks to offer more content to users 🥇 Address compatibility issues with certain e-books or formats to improve the app's usability 🥇 Add customization options for reading preferences to allow users to tailor their reading experience 🥇 Enhance discoverability features for finding new books to help users discover new content 🥇 Reduce wait times for books that are not available in the local public library by implementing a faster acquisition process or offering more digital copies 🥇 Allow users without a public library card to borrow books from the app to expand the app's accessibility 🥇 Increase offline access to allow users to access content without an internet connection 🥇 Address user interface issues and glitches to improve the app's usability and user experience 🥇 Add learning features to the app to enhance its educational value 🥇 Implement notes/clips organization features to help users better organize their notes and highlights 🥇 Enhance social features for interacting with other readers to create a more interactive and social reading experience 🥇 Add customization options to allow users to personalize their reading experience | Indirect Positioning Analysis: 🥇 Offer full-length books in addition to summaries to provide more depth and context 🥇 Expand the selection of books available to users to offer a wider range of content 🥇 Remove pay walls or offer more free content to improve accessibility and affordability 🥇 Support audio format content to provide more options for users 🥇 Improve the quality of notes and highlights to make them more reliable and accurate 🥇 Streamline the process of writing, reviewing, and organizing notes and highlights to reduce the time and effort required for users 🥇 Provide summaries for fiction books as well as non-fiction to offer a wider range of content 🥇 Increase the content selection to offer more choices to users 🥇 Maintain a consistent quality of summaries to ensure they are always comprehensive and accurate 🥇 Add learning features to enhance the educational value of the app. | ||||||||||||||||||||||||||
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