- 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
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
The needs are met currently, but they are inefficient
Therefore, the firm will be
- The firm will offer automated services to enhance efficiency
- Customers will be order services online
- 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.