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This is my HW DO IN 9/27 12:00 NOON
Evaluate the preliminary business models presented in the class by other groups. Identify the major risk factors in each model and explain possible ways to reduce these risks. Submit to the drop box. (should not exceed two pages).
This is my HW DO IN 9/26 12:00 NOON
Evaluate the preliminary business models presented in the class by other groups. Identify the major risk factors in each model and explain possible ways to reduce these risks. Submit to the drop box. (should not exceed two pages).
Team A Solar Powered Recharge Stations for Electric Vehicles
Our target customers are the Electric Car Drivers that do not have the luxury of using Elon Musks free charging stations for his Tesla cars. We have learned that most drivers are from the California Area and this will be the first target market we will venture into. We will reach the customers by placing charging stations:
Stations will be located along Major Highways at Rest Stations as well as hotels. They will also be located in Parking lots of Grocery Stores and Malls as well as Wholesale Stores (Costco, Sam’s Club). Our own Charging Stations that will be Solar Powered, reducing the price of Kilowatt Hour per charge. There will also be convenience stores with Whole Foods type snacks.
The Customer Value Proposition the Company Offers
The value our company offers to our customers will be the lowest prices for charges. The prices will also remain consistent throughout the day, unlike the usual ups and down of the electricity market. There will also be stress reducing convenience in that we will have plenty of locations around the United States. Will allows people to take long road trips. No need to worry about where the next charging station is.
Point of Differentiation
What makes this service unique is that fact that the stations will be solar powered. In the day and age where people are becoming more conscious of the effects of using fossil fuels, many are looking for ways to help preserve the planet. By using Solar Energy to power the charging stations, we will be able to cater to the environmentally friendly customer while also grabbing the customers that would like the cheapest price to charge their car.
Pricing
By Pricing Strategically this will give us the competitive advantage to get this business going. Each state will have its own set price based on what the current price for electricity is. Commercially Priced Electricity is less costly than Residentially Priced, therefore making it more cost effective to charge when outside of the home. We will be able to take advantage of Commercially Priced Electricity with an infusion of Solar Power, allowing us to keep the price lower.
Selling Process
Here we will have built into our charging stations a way to pay by credit, cash or debit. We will also have a card that can have money put on it for more frequent users, making it easier to pay quickly. We will have applications that will show where available stations and parking spaces will be located. There will be a series of YouTube videos of people travelling around the country and stopping at our station only for publicity. We will also try and work out a proposal where the dealerships endorse us, and the GPS navigation systems point out our stations first on the list.
Distribution Process
The Process for providing charging services to parking space customers at hotels, malls and grocery stores will be the single charge stations. The Process for providing charging services to people that will stop at our stations involves a dual port charging station, allowing for more efficient charging for multiple vehicles.
Customer Support
We will have people around the area that are trained service specialists in order to repair any damaged chargers. We will also work to make it difficult for people to park in spaces where electric cars should be. Possibilities are having towing stations where we can generate revenue off of people that part illegally in our spots.
Team B Parking meters
Competitive advantage
Products we sell – phone application
Unique because it would be the only electronic pay by phone parking meter
Provides a service to anyone who is visiting a location
Pricing does not need to be competitive but low enough to capture customers
Way we sell – through an internet account that connects to your credit card
values to which we are committed – reliability, accuracy and adaptation
Our Vision
Our mission is to provide a service to those of us who want to comply with the parking authority but simply cannot meet the restraints of the paying process.
Strengths and weaknesses
We are driven to meet the need of this service and make it a reality.
Weaknesses include possible driver safety while using the phone application
Timeline for development
Identifying the target audience and best city to launch the service.
Meeting with discussion groups to foresee complications and identify sources of resistance
Developing a prototype
Gaining feedback from market study group
Lay out a feasible financial plan
Develop investor pitch
Collect funds and complete legal paperwork
Marketing and advertising
Execution
Competition
City parking authorities who gain valuable fees from parking tickets
Parking garages
3- Team C Business Idea:
Our business idea is to create and market an Operating System/Graphics Interface that meets the needs of generations that do not understand how to operate modern day computers. Our goal would be to provide a simplified version of a personal computer that allows elderly people to perform the basic functions a modern day computers offers. Such functions are included but not limited to:
• Communicate with loved ones through a basic version of email that is simple and user friendly.
• A simplified version of the internet that will provide the user with the tools that makes searching the web an easy and enjoyable experience.
• Provide various package options to consumers that will be tailored to their specific needs.
o Software
o Software and all necessary hardware
o Custom
4- Team D (Healthy Fast Food)
Preliminary Evaluation of Business Ideas
After class our group got together to go over the ideas we had presented to the class. We looked into each of the markets we had proposed going into: food services and retail for college students. With a better grasp of what we would be facing, our team decided to go with building a company based around promoting healthy eating in the fast food market.
The four of us noticed that in today’s world there is not one specific fast food restaurant that promotes only healthy food choices. Since healthy eating is becoming more and more widespread, we see an untapped market of possibilities. Our idea is to create a restaurant that could possibly turn into a franchise of healthy choices. This would allow people to have the option of a good meal instead of a thousand calorie Big Mac. Once approved, we would like to look into bringing in farmers or local mom and Pop business that supply us with healthy, organic choices. We would first centralize our business in a popular area to see how the public would react, then take it costal and eventually global.
Since we are entering into an extremely competitive market, our choices would have to be those that individuals are looking for on a daily basis. Once again this is something we will have to look into. We can do this by using surveys as well as poling the area where we will initially be launching.
We’ve seen many places be successful in the fast food industry and this only excites us and assures our group that there is room for our business to grow.
