Engr9704 Project Management And Innovation Assessment Answers

Requirements and topic to complete:

We are developing a car pooling app and we need innovation plan which is completly based on our first assignment ( project specification). i am sharing my prvious assignment and requirement files with you. please have a look, read it. i need things explained in tables amd figure form including paragraphs.

The Project: The aim of the project is for you to develop an innovation plan that would serve as a roadmap to Management to take a new service or product to the market successfully.

Answer

Introduction

The day is over when private cars was only available to those who could only afford to own cars. However with the advancement of technology and the technology is reaching to everyone this scenario already started to change and right now the scenario is changed completely (Ali, Khan and Vasilakos 2015). The car rental service has comes a long way to redefine this market with the latest addition being the car pooling service which is making a quite a buzz now. The special features of the car pooling service is that it is cheaper yet offers extended service to the customer who are looking for cars for travelling and other purpose (Bhat 2017).  

The Problem/ Solution/ Benefits of technology

The main problem that are present in the course of the data management of the online cab booking organization are as follows: -

• The data that are generated during the commencing of the journey might affect the processing of the data management and this is the only reason that the users of the online cab booking application (Avram 2014). This is the main reason that this technology is not trusted by the common audience. In case the data base of the cab organization gets accessed by the imposter and this might affect the business processing in a negative manner. In case the imposters gains access over the processing of data management system, the main proclamation that is to be made incurs the fact that the business of the data centre will be processed by the imposters they will get the data that are present in the data base (Bettig 2018).  This might affect the genuine client in a negative way.
• In case the data base of the organization is not well structured, chances of losing the data is very high. This might lead to the fact that the data that are stored in the data base might get lost and this will affect in navigation of the driver. This is the main reason that the processing of the data management will get affected in the processing of tourism (Drahos 2016).

Solution

• The solution that must be implemented in the processing of the data management is that the business organization must implement firewall in the framework of the data base. This instruments the fact that the data management of the business terminology will be proclaimed with the help of the termination of the data poaching.
• The data base that is installed in the framework of the data base must be having a better performance as the data proposition will get hampered ion case the latest version of the operating system is not installed in the data base (Etro 2015). In order to reduce the problem regarding the processing of the data base the software that is being used must be having a better orientation of the business management terminology and the updated version of the software will ensure that the loop holes are not present in the data management system

Advantage

The main advantages that are present in the course of this application are as follows: -

• With the help of this application, the main advantage that is gained by the business organization is that the processing of the data management of the transportation system gets digitalized and the processing of the reserving of the cabs get easier and the time that is required for the processing of the completion of the project gets lessened and this is the reason that the application is used
• Another major advantage of this process is that the certainty of the availability of the vehicles in time of emergency is very high and this helps in maintaining the better efficiency ratio. This is the main reason that the processing of the application of the online cab booking helps in understanding the processing of the business management in the functioning of the business organization (He, Yan and Da Xu 2014). This aspect also ensures the fact that the project completion of the process will get estimated and the time that is required for the processing of the data centre are processed.
• Tracking of the vehicle acts as one of the most important fact. The main processing of the data management is that the processing of the vehicle management is present and this also acts as one of the main reason that the reliability of the application increases.

Some industry trends that may influence the success of the technology

As the market of carpooling service brings several promises in terms of commercialization and revenue generation the innovation is also being increased in the market to improve the quality of the service and improve the customer service. Some of the industry trend that are likely to dominate the market are:

Trend	Description
Green energy	The government is promoting the use of green energy instead of conventional energy resources for reducing the environment pollution and having a cleaner environment (Lian, Yen and Wang 2014). Although the petrol and diesel and are not going to be replaced very soon, but it is always wiser to invest in the future trend. In comparison to the petrol and diesel based cars, electric cars contributes to lesser pollution, yet more affordable. Electric cars are going to be next trend in this market
IOT:	In comparison to the traditional GPS system that is the common from for keeping track of vehicles is seeming to be changed with the introduction of the IOT technology (Lee and Lee 2015). IOT is the network of intelligent sensors and controllers. It integrates the RFID technology for tracking of the devices in the network (Madakam,  Ramaswamy and Tripathi 2015). The tracking is not only first but accurate too compared to the traditional GPS system. In addition to that it is secure too
Cloud computing:	Presently the database that is used to store the customer related information is based on the SQL database technique. The SQL database has long been the standard in the industry which is likely to be improved with the cloud computing. In addition to increased security, it also allows to access the information from anytime and anywhere. Hence it allows better productivity for improved customer service for better success (Sen 2014)

Market Analysis (primary and secondary segments, market size)

The market analysis is important for capturing the market view which is essential for creating plan for the development as well as developing the market strategy for better success of the product commercialization (Raisch 2016). The market analysis will particularly look for the primary and secondary segment of the market with a view of the overall market size (Ibisworld.com 2018).

 Market segment:

Group of users	Percentage	Comment
18 to 24 years	26.9%	These age group is one of the important group
25 to 34 years	39%	These are the most significant group
35 to 44 years	27.4%	These are the second most significant group
More than 45 years	6.7%	These are the less significant group

Market size:

Year	Revenue in USD billion
2012	10
2013	15
2014	20
2015	21
2016	22
2017	25
2018	26
2019	27
2020	28
2021	30
2022	35

(Grandviewresearch.com, 2018)

Insight from the market size:

From the market size it is seen that there is a major market for the service. Over the years the market has been rising continuously and a major potential for growth is there as seen from the market projection. Hence investment in this market will be a wise one. However effective investment strategy coupled with the perfect customer service is key to the success. Hence both of these factors need to be integrated with the marketing strategy.

Strategic Partnerships:

Some key groups interested in this service/technology

The car sharing industry is blooming than ever before as lot of people are becoming interested in the car polling and sharing service. The purchase of car around the world is not only getting expensive it is also getting difficult to maintain the car after purchase. Hence a lot of people are getting into the car pulling service as it offers the service whenever it is needed. All that is needed is to book the car through the application with the smartphone and the car is ready to serve the customer (Porterfield 2015). Due to popularity of the car pooling service the car pooling service the car manufacturers around the world are trying to capture the market. In the past few years a lot off renowned car manufacturer already invested in several start-up, with some manufacturer has already made partnership with the established ones in the market. Companies that are providing the GPS service or map service is also making partnership with the start-ups for helping them integrating the GPS service with the application. Online restaurants are also investing in the market for mutual benefits for having the strength of each other customer base. This kind of partnership is getting very popular in this market. So some key groups as identified here based on the market analysis are:

• Car makers
• GPS providers
• Online restaurant services

Local and international partnerships for commercialising this technology

In order to make the application successful both local and international strategic partnership is required (Dan 2015).

Local partnership:

Partnership	reason
Car makers	To raise initial funding
GPS providers	To integrate the service of GPS and Map for tracking of cars and consumer location to offer better service
Online restaurant service	To reach customers of the online restaurant and increase promotion

International partnership:

Partnership	reason
Car sharing service provider	To understand he market trend and avoid direct competition
Similar start-ups	To increase the collaboration in the international market to ensure better success

IP Strategy

Protecting idea using the IP strategy:

The IP protection is needed to protect the idea of the car pooling app otherwise the idea might attract the other competitors of the market. Thus the competitors might be able to undercut the main inventor of the idea. For this reason protecting of the intellectual property is needed (Rittinghouse and Ransome 2016). The ideas can be saved by patenting the ideas which is the basic strategy of protecting the intellectual property. The data management of the processing of the application maker considers the fact that the processing of the data management will procure the processing of the IP address as the data that are gathered from the processing of the IP strategy will ensures  the better functioning of the business management.

Implementation of copyright system implements the fact that the processing of the data management of the business organization regarding Intellectual property. Providing copyright includes the fact that the data that are stored in the system will procure the better functioning of the data managing. In case the terminology of the projection, the data can be kept in a secured manner. In case the copyright is validated, the main problem that will be present in the course of data management, any user using the data without any proper concern might get punished due to validation of the rules

Form of IP Should be Considered

The code that is used for creating that data base of the organization will be proclaimed with the help of the robust framework will be kept under the processing of the intellectual property management. This is the main reason that the processing of the data management can be proclaimed with the help of the business commencement and this is the main reason behind the processing of the data management. The main processing of the data framework is the most important aspect of a cab organization. In case the data base framework will not be proclaimed, the main aspect that will be in processing will include the fact that the competition in market will increase. This is the reason that the data base of the cab company is designated as an intellectual property.

Important is IP for this Market

Intellectual property is one of the most important aspect as the terminology that is being provided finds huge importance. The main reason that provides the importance to the termination of the processing of the business management as the data management of the entire business might be kept private in order to grow as a business organization (Yan and Yu 2015). In case the terminology that is proposed with the data management. This leads to the fact that the data management of the organization will be processed with utmost efficiency. In case there was no intellectual property system reservation, the data prosecution of the business management will lose its efficiency and this would lead to the fact that the processing of the data management will be procured with least security instance.        

Financial projections:

Equipment	USD
Computer and equipment	1800
Office furniture and decoration	1000
Navigation app development	2000
Navigation light app development	200
Map app development	125
Business setup expenses	299
Google play registration	320
Purchased software	110
Building website	115
Building application	223
Renting cars	2390

Commercialisation recommendations

As already specified, with the mobile technology and mobile application is becoming popular, the popularity of the app based car service is likely to be increased. The potential users are anyone who is having the smartphone with the android platform as currently the application will be launched on android platform which happens to have the major market share in the mobile OS. Although people of all the ages are the valuable customer for this service young ones are the major customer as identified in the market segmentation section of this report.

In a word the application has a huge marketing potential if the strategy followed for the development and marketing is proper and effective (Semasinghe, Maghsudi and Hossain 2017). Hence the application should be commercialized with appropriate marketing strategy.

The commercialization of the application should follow some specific steps for generation of revenue through the application. Below are some of the recommended step for the successful and commercialization of the application:

Webs based presence:

Although the service is application based it is not only important to have a website it is a must for the effective commercialization (Bocken and Short 2016). The online presence of the application ensures the customer that it is a legitimate service which is a must especially when the application or the business is in its initial phase 

Blog promotion:

Promotion is an inseparable part for the successful commercialization of any new service or product (Laukkanen 2015). Content promotion is the one of the best strategy for the promotion as it helps to visualize the product even without access to the product physically. When it comes to the content promotion blog is the preferred and proven strategy recommended and applied by major companies throughout the world.

App store optimization:

When releasing the application in the app store the app store optimization is one of the important step. The app store optimization ensures that the application not only persons well in the app store, it is also highly scalable too which is required for the performance of the application, for the app store optimization it is recommended to integrate ASO with the SEO. In order to include the ASO strategy with the app store optimization the following points must be included (Sookhak et al. 2017):

• Proper name for the app that is innovative and attracts user attention
• Effective thumbnail for making the appearance of the application attractive in the app store
• Successful keyword insertion to increase the chance of the application reaching to the customer when a particular category for application is searched by the users with some particular keyword
• Integration of rating system to enhance the popularity of the application.

Conclusion

The paper concludes that as the mobile technology is becoming cheaper and it is being extended to a large number of user there is a large user base that wants to avail certain service through the convenience of mobile application. In addition to this the rise of online car service market now presents a huge opportunity to indulge in this business. However due to huge competition in the market, the success to the business will be dependent on smart strategy and innovation.

In order to have successful strategic partnership it is recommended to look for the local as well for the international partnership. However it is recommended to make the local partnership stronger for making a strong market presence for correct evaluation of the market. While doing international partnership it is recommended to look for innovative approach rather than the brand name or how popular the organization is in the international market. Due to budget constraint it is also the preferred strategy obtained by start-ups at their initial phase of marketing.

Proper financial projection is also important for the success of the application. The projection should cover each and every details cost that might be associated with each phase of the application development. The initial planning is very important as this will decide how successfully the project will be delivered while maximizing the through output in minimum cost possible. However while making the cost projection it is not recommended to only focus on budget reduction it should also focus on innovation as well to compete in the market and apply best technology for the application development including hardware and software.

The mobile application development market is so highly volatile that violation in the IP or the intellectual property is quite common. Sometime all it takes is the stealing of the idea that can potentially ruin the entire business, even the established one. Hence it is recommended to apply the best strategy to protect IP such as having a patent for the idea and legal protection for the same.

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