Idea Napkin No. 2 (Week 9)

1. My name is Jary Kim and I am a student at the University of Florida. I have professional skills and experience in interpersonal communication, social media, digital marketing, creativity, and time management. My non-professional interests are in cooking, exercising, and traveling. I aspire to work in a global marketing team of an international corporation or digital marketing in a smaller firm that caters to those corporations. I hope to relocate to New York City, Seoul, or London for work after I graduate.
2. Budget Buzz is an app that will help college students budget their spending. A lot of the customers (students) need help in managing their personal finances responsibly when they get to college. Whether it be allowance that is received from parents or personal money, with Budget Buzz, college students can organize their money into different spending categories, such as for Groceries, Dining Out, Leisurely Shopping, Going Out, Drinks, Savings. It will track their spending and their budget as well as how much they save. The app will pair up with local businesses in the collegetown so that when the students are successful in staying within their set budget, as well as saving, they can redeem coupons to spend at though local businesses. In Gainesville, we would want to target Lucky's, Karma Cream, 3 Natives, and etc.
3. I am offering this app to students in college, first and foremost, would be my school at the University of Florida. I would offer this app mostly towards incoming freshmen but it would also be a target for all years as well. Demographically, I would target this app towards students who had the comfort of their parents providing them with a set monthly allowance for their spending. It's usually those students who end up spending their money quickly through random purchases and frequent dining out, as well as blowing a big chunk of their money on a night out (buying drinks, food, etc.). I've found that these students often have to ask more money from their parents because of spending too quickly within the money. Students who have part-job jobs and pay for their own things through their own money they earned usually keep better track of their finances, which would not be the target market for this app.
4. For college students, especially incoming freshmen who are not accustomed to being own their own and dealing with a monthly allowance to budget, this app would be extremely beneficial in helping them manage their personal finances. With the app's logs, it's good to keep track of how much money you spend and what you spend it on, as seeing the transactions listed will help show if the student has been recklessly spending. It'll make students more thoughtful and tactful in spending their money, as well as teaching them the value of saving. These are life lessons and skills that students can't get inside a classroom.
5. My core competencies would be my personality traits that can connect to the target market for this app. As an outgoing and extroverted person, it's easy for me to meet new people, talk to them, get a sense of what they want and need, and have effective communication to obtain information. Another is that I thrive in challenging, fast-paced environments as it motivates to pursue a project and see to its end. It also ensures that I have strong time management and organizational skills.

From the feedback that I received on my previous idea napkin, which was a different app idea of Health Bite (healthy eating and reciped for college students - check out that blog post!) these are the main five points that I took away.

• I planned well.
• Beneficial to all the students targeted
• Good job at expressing my skills and interests to connect them with my ideas.
• App will encourage motivation
• Thinking it through

I incorporated those feedbacks into my idea napkin this time around because it helped me figure out how to create this Idea Napkin successfully, as the positive feedbacks encouraged me to have the same work ethic in providing this assignment.