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An Overview of the Venture’s Product, Process or Service

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  • An Overview of the Venture’s Product, Process or Service

Value Composition

Developing a mobile application with the following qualities;

Easily navigable

User-friendly

Cost-efficient

Convenient

The firm Intends to;

Offer transportation services to students’ universities employees, travelers, and residents in the DMV area

Offering discounts/incentives

Reduce the cost of traveling

Providing automated services

Scope of the Business

The business operates in the transport industry

Its partners are;

Ridesharing firms such as Lyft and Uber

Notably, Uber is a leading transport company in Washington, DC (Lindsay).

Micro-mobility Companies

Bus Companies

  • Needs of the Venture’s Key Customers or Customer Segments

Existing Vs. Emerging Needs

Existing

Traditional transportation services

Payment made on a cash basis

No customer relation

Emerging

Self-services

Personal assistance

Call centers

Social media

Email

The needs are met currently, but they are inefficient

Therefore, the firm will be

  1. The firm will offer automated services to enhance efficiency
  2. Customers will be order services online
  3. Improved customer relations

However, the increased operational cost will hinder the implementation of these services.

The firm will partner with Uber to reduce costs

  • Characteristics of the Target Marketplace

The market in the DMV area is diversified. It has many market players (Lindsay).

There is potential for growth as the firm applies updated technologies

Therefore, the growth rate of demand will increase by 20 %

The firm can support multiple offerors

Attractive Attributes

Existence of many customers

Access to the latest technology

Unattractive Attributes

The competition level is high

Hence, the firm will have a reduced market share

Customers may resist change; however, the firm will offer educational measures to enlighten people about corporate services.

The firm will enter the market next month

It will nurture a differentiation strategy

Undertaking promotional measures will improve the acceptance of the firm’s services in the marketplace.

Student’s Name

Professor’s Name

Course

Date

Venture Presentation

 

Slide 1

The firm will add value to its services to promote its competitiveness.

It will integrate recent technologies in its operations to attract more clients.

Besides, applying recent technologies will help the firm to:

Deliver cost-efficient services, enhance efficiency, and reduce queuing in stages as customers will be placing their orders online.

The firm seeks to deliver modernized transportation services.

The firm will acquire a considerable market share as it will reduce inefficiency in the sector

For example, introducing an automated mobile application will attract more clients

Besides, innovation will minimize inconveniences in the transport sector.

Slide 2

The current market segment has various needs.

Existing market needs include the delivery of improved transportation services.

Emerging needs include delivering automated transport services, improved self-service, and embracing recent technologies to enhance efficiency.

The firm will transform the transport sector as it will introduce modern strategies such as the use of emails, call centers, and automated services that will promote the performance of the venture

Consequently, the firm will control a considerable market share.

Slide 3

The market has unique attributes that make it worth investing in.

Primarily, the existence of diversified customers will increase corporate sales

Besides, access to recent technologies will allow the firm to embrace creativity and innovation.

Primarily, improving customer services will attract more users

As a result, the firm will realize economies of scale

However, the intensified competition will reduce the firm’s share in the marketplace.

 

Works Cited

Lindsay, Greg. “What if Uber Kills off Public Transport rather than Cars?” The Guardian, 14 July 2017, www.theguardian.com/sustainable-business/2017/jan/13/uber-lyft-cars-public-transport-cities-commuting.

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