Project Everest

Proposed Experiment

[PROPOSED EXPERIMENT FOR JANUARY] Scalability (Currency Testing for Premium data model)- FarmEd Fiji December 2018

by
Coco Jian
Coco Jian | Dec 19, 2018 | in Knowledge Base

Lean Phase:

Currency Testing. Testing the viability of implementing a premium model for data reselling.

Assumption:

  1. Businesses, organisations and non-government organisations (NGOs) are willing to purchase a premium model (an upgrade) of the data package obtained from farmers.   
  2. If they are not willing to purchase such data, they are willing to negotiate the content or the price of the premium data package.

Time Box:

3 weeks (allowing team handover and the lack of productivity in the first week)

Success Metric:

We want to measure:

  1. Percentage of the stakeholders that are willing to purchase a premium model of data package at a given price
  2. Percentage of the stakeholders that are not willing to purchase a premium model but are willing to negotiate alternative package content or price

(On the basis of at least 20 meetings)

 Green light:

  • More than 50% of the stakeholders are willing to purchase a premium model of the data at a given price  

Proceed: Develop a basic and premium subscription of data package in the future.

 Orange light:

  • 30% to 50% of the stakeholders are willing to purchase a premium model of the data at a given price;
  • 40% of the stakeholders are not willing to purchase but can negotiate alternative package content or price point

Optimise: Alter the content included in the premium model of the data or the price of the model

 Red light:

  • Less than 30% of the stakeholders are willing to purchase a premium model of the data

Failure Protocol: Abandon the idea of implementing a premium model of the data as it is not viable in the Fijian market.

 Experiment build:

  1. Determine the contents of the basic and premium model and develop a cost structure that is believed to be reasonable for the value that each data package provides. The cost model should account for the information that be provided from the premium model and its practicality for the individual businesses, organisations and NGOs.
  2. Continue the research into the type of stakeholders that might be interested in collaborating with us and set up meetings with them.
  3. Pitch the idea of premium model data package and gather feedback from the stakeholders.
  4. Record the feedback into a spreadsheet.
edited on 1st January 2019, 21:01 by Jess Riley

Grace Blackford Dec 19, 2018

Status label added: Proposed Experiment

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Felix Zerbib Dec 21, 2018

I like the idea of a premium service that is differentiated by the data offered to those willing to pay a higher subscription fee. Did your team happen to determine what key data points the stakeholders that you're talking about would be specifically interested in? Knowing this will help identify how FarmEd may be best pitched to these businesses, as well as what information we need to obtain from farmers who are currently subscribed to the app (and how to do so).

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Coco Jian Dec 28, 2018

Hi Felix. Our team has primarily interacted with stakeholders from NGOs and some from the hospitality industry. The feedback and suggestions of the prototype from these meetings have been compelled and can be found in the attachment. The key data points may very much differ business to business and their suggestions would indicate the type of data they would be interested in. The farmers may only input the basic information about their farms to ensure simplicity, though this can change depend on the user feedback that the teams will collect in January and February.

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