Venture Concept #2 (29A)

GATORNAV

Opportunity: 

Running late for class, check the Rider app which says there will be a bus arriving in 10 minutes so you decide to grab some breakfast before heading out the door yet right as you step outside you hear the bus pull off and realize you should've skipped that breakfast. This is the oh too familiar cycle as the current bus system is so imprecise and tends to be wrong more often than not. With this, an opportunity is created, as there are thousands of students and staff who rely on the RTS system everyday. Geographically this market is pretty specific as it is for those who ride the bus to campus and therefore live within 20 miles of the University of Florida. Demographically they are on the young, poorer side as it is directed towards mostly college students. Currently, students are "satisfying" this need by either leaving their houses at a ridiculously early hour in order to make it on time or some students have given up on the bus systems entirely, relying on the new influx of scooters or taking their chances with UF parking. None of which are real solutions, making their loyalty pretty questionable as the alternatives are just as lacking as the bus system. This opportunity is huge with a pretty open window as there is no real competition in the field currently.

Innovation:

 In order to combat this opportunity, I will be creating a system of products and services. The product being a new navigational system that accounts not only for the route and exact location of each bus, but for traffic as well. This will be sold and implemented into every current RTS bus system and provided as a service for students who will be using the app paired to the navigational system allowing them to get to class on time. Not only will the app provide them with a precise location but it will give them the ability to rank the drivers who will now be held accountable in order to eliminate some of the current mishaps, such as cleanliness, safety, and overall attitude. The main source of income will be from the actual navigational system itself which would be sold for 40 dollars per bus, numbers based off current market, which will include the implementation fee and product itself. 

Venture Concept: 

This product will allow for so many more satisfied customers and ultimately improve the entire RTS system which is so unreliable now. Customers will want to switch to this new product as it is going to bring in better rankings and reviews and provide an overall higher quality service with no real costs to students. However, it might be hard to get the RTS director to want to start using this product but their current product is obviously not working as they are currently just using a paper system relying on where the buses "should" be at a certain time rather than any actual navigational system. With this new system, the company of RTS will be able to step into the future technologically and provide an overall better service. The competitors don't currently exist, even though there are other companies who create GPS systems, they are not currently targeting my exact market. Yet there are problems with RTS current system as the guessing of where a bus might be and then telling that to students as a reliable source is obviously not an ideal way to go about things. Prices are based off current markets and could be adjusted according to demand, however, packaging will play a pretty important role as each system will have to be individually packaged with a lot of caution as they are pieces of technology. The customer experience is what we are all about, however this will more so be a product of the app experience rather than the product itself. The business building itself will be more so like a factory and will not have any customer experience being taken into consideration really as it will be more so for manufacturing. There needs to be a group of IT individuals in order to get the navigational system to function properly, manufactures, app producers, managers, along with people who can pick up the phone and provide details to customers. 

Feedback Summary: 

I got amazing feedback on my last venture concept as everyone seemed to really love my idea and thought that I did a great job pulling everything together, so thank you to the people who left comments! No one really suggested any changes, it was mostly just a bunch of compliments but this can be just as helpful because I can see what people liked and hone in on that in order to improve which is exactly what I ended up doing. I changed my concept in order to add even more scenario-like parts in order to truly describe my customer and what they go through on the daily, along with the fact that I was trying to remain as cohesive as possible. This was not an easy task as it is hard not to try and suggest your solution as soon as possible but I made sure to keep distinct separation while making it flow.