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SWOT Analysis
The core purpose of the SWOT analysis is to identify the various strategies that the team can use in exploiting the external opportunities as well as the threats in an attempt to build on the strengths of the app while eradicating its weakness.
Strengths
Reservation ability: Iowa being a metropolitan area; finding a parking space is difficult, especially during rush hours (Heftman et al.). The app, however, does allow drivers to find and reserve parking spaces with ease and convenience by accessing the smart parking systems in the city.
Saves Time: The app does allow the user to beat the rush hour in finding parking while also avoiding traffic congestions, thereby saving time.
Convenience: Users get to operate the application through their mobile phones as it will allow them to get into the system and find the parking space they are looking for.
Weaknesses
Meter Ownership: Since the meters are under the care and management of the city council, it would mean the app doesn’t guarantee its users would find the parking space they require.
The necessity of advertisement: There are numerous other similar functioning apps in the market at the moment; thus, it would require heavy advertisement for the service.
Opportunities
Branching out: Iowa being the pilot city, it has opened up the possibility for the app to also feature in other cities hence expanding the business.
Working with the University of Iowa: Being based in the city means having an opportunity to partner with a major institution such as the University of Iowa as a means of opening up the market.
Threats
Public transport: The city’s transit links features intercity bus companies that provide adequate services to the population that might strain the services that the app provides (Heftman et al.).
Enforcement: The city does face an increase in traffic, which means emphasis will be on sharing of the road with all types of users. Thus, enforcement comes in urging users to switch to public transport to ease congestion.
Works Cited
Heftman, Nik, Katlyn Brouwer, and Sam Greene. “ISU parking: An inside look.” Ethos 2017.2 (2017): 22-23.