Audio 'Flash Card'?

Question

I drive to work for about one and half hour every day. Flash cards in audio format would be very useful during this time. Audio flash cards can contain grammar rules, idioms (may be not so useful anymore), critical reasoning tid bits, sentence correction questions, critical reasoning questions, math equations, math drills, etc.

I am sure there will be other students who will be interested in the audio flash bits. Moreover, this can be added to the gmat club iPhone app for added convenience.

My question is:
1. Does the gmat club iPhone app has it? Do you know any such initiative?

2. Can we initiate such an effort? We will need to have permission from the content owner.

3. What kind of content do you think will be most suitable for such audio flash bits?

GMATLA · Answer

Well, in all my time with GMATclub and GMAT studying, I've never heard about anything like this. Maybe you should forget a Bschool, and create Audio GMAT studying, for the commuter! Actually a really cool idea. I don't think it's been done, but if you end up finding it, let us know!

udvranto · Answer

No matter how funny you think it is, it will be a really useful tool if implemented. I will probably do a few of them just for myself.

GMATLA · Answer

I actually think it is a really good idea. I would have to think there is a market out there for this type of studying, especially for GRE, SAT, MCAT or other tests with vocabulary or other memorization is helpful.

Could be a million dollar idea??

Could be a million dollar idea??

udvranto · Answer

Let's see. According to  this article , about 200,000 people take gmat every year. This data is a bit out of date, but there are fluctuations. Let's assume that 40% of these are from USA, 80% of the US test takers live outside a metropolitan area and drive to work, 90% of these last category will be interested in such product. Please note, I assumed a lot. But I am just doing a ball park estimate. Also I excluded the non US test takers. From my past experience I found that most of the countries have good transportation system and people use them.

So the number of people interested to buy such product, i.e. the size of the target market will be = 0.9 * 0.8 * 0.4 * 200,000 = 0.72 * 0.4 * 200,000 = 0.288 * 200,000 ~= 0.30 * 200,000 = 60,000! A $20 product will generate about $1.2 million! If we roughly multiply this with other tests (GMAT, GRE, SAT, MCAT), this becomes even more ($1.2mil * 4 ~= $5mil)!

To answer your question, could be a million dollar idea? It definitely seems to be.

udvranto · Answer

You know what can be even better? Implement the question in iPhone audio format, take the answer using SIRI and respond with correctness. And bam!!! You got a killer innovative prep app!! It will even sell to the non-commuting test takers!

GMATLA · Answer

Haha, love it! I hope you make it... I'll be the first to buy it... 20 dollars right there... $999,980 to go!

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