Jamie, an 18-year-old freshman, wants to create a mobile app that allows users to track spending habits, share real-time updates and spending history with friends, and receive targeted ads and promotions. The app's strengths include its ease of use, connectivity, integration of social media and financial planning, and ability for peer-to-peer sharing. However, initially collecting a large user database and having a similar business model to competitors pose challenges. Partnering with companies and promoting the app's ability to help users spend responsibly could help address weaknesses and threats from larger tech firms.
12. Strengths:
-Easy to use
-Connectivity
-Social Media + Financial Planning
-Peer to peer
Weaknesses:
-Hard to collect user database initially
-Business model similar to existing
models
Opportunities:
-Promoted posts for advertisers
-Chance to become socially responsible
Threats:
-Google Tech
-Security for data post collection
SWOT Analysis
