In order to validate a new product called Justice Capitalist, a product to help consumers build credit by reporting rent payments, complete research on the target market, competitive landscape, and future scenarios that could impact the new company.
There are two target markets: those 18-35 in the US and those 35+ in the US. For each, provide average credit score, employment, psychographics (beliefs, values, religion, politics), attitudes towards credit cards, traditional loans, and other lending methods, and their spending habits/payment methods.
For the competitive landscape, identify key companies that help US citizens build their credit scores, pay their rent/mortgage in case of budget shortfalls, and understand their rights as a consumer/renter/homeowner. Avoid companies already found: Perch Credit, Renttrack, Experian boost, Transunion smart move, and Credit Karma. Additionally, provide ways consumers complete these activities without using a specific company or paid service.
Finally, for scenario planning, identify potential or existing regulations that could impact the business such as moratoriums, change in minimum wages, and other scenarios.