BU111 Chapter Notes - Chapter 5: Complementary Good, Customer Switching, Switching Barriers
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Our tutors are at the heart of our venture. Key tactics to ensure happy suppliers will be incentives, and the opportunity to earn money on the side. We are setting a standard that our tutors must be at least 18, giving us access to the college and university population. This immense population, and in dense locations means a high supply of suppliers. However, the product will provide a convenience that will be invaluable for students. Our suppliers are students, ta"s and professors, and while numerous, are irreplaceable. We will be the first entrants into the market. We will require capital to hire developers to build the interface, and create the payment algorithm. We will also need to pay management to oversee operations. We will need to develop an app that connects students to our tutors, while this is not easy, it has been done for taxi"s.