NearbyNow

Ly, Pham Hien MA1N0241Chaipat Jingjitra MA1N0238Minh, Nguyen Van MA1N0234

Q.1: Write a concept statement for NearbyNow . If NearbyNow was still in the start-up stage and Scott Dunlap asked you who he should distribute the concept statement to, what would you have told him?

The concept of NearbyNow is the search engine for the shopper to check the items online and where it’s the cheapest store. If the item isn’t available at the store you be may given the option to buy it online.

I’d to tell him that he should tell this concept to the owner of the malls because it would not happen if the owner disagree this project.

Target Customers

Shoppers who want to save the waste time by checking products before shopping;Shoppers who prefer to buy online.

Q.2: What types of gumshoe research did Dunlap benefit from, and what additional gumshoe research could he have conducted while he was investigating the feasibility of NearbyNow?

1. Google search engines largely directed people to places where the could buy things online rather than in stores.

Dunlap’s interest: There’s a search engine for malls where shopper can go online to see if the product is available and where’s the cheapest

2. Some internet websites allowed shoppers to find the nearest store that carried a product but:

- No sites told a shopper if a specific store had a particular product in inventory- Or where is the cheapest place

Additional Gumshoe Research

• One thing that heartening to Dunlap was signs that although people like to search and do price comparisons online, they prefer to shop offline so they can touch and feel a product (especially for higher-priced items, clothes and shoes)

Limitation of this concept:1. How accurately store track their inventory?2. Not all stores can quickly tell a shopper whether an item is in stock.3. Some high-end retailers don’t like their products seen side by side with less expensive alternatives.

Q.3: Did you know that the majority of malls in the United States are owned by six companies?

List of largest shopping malls in the United States

1. Macy’s2. JC Penney3. Sears4. Lord & Taylor5. Northstrom6. Neiman Marcus

Q.4: Complete a First Screen analysis for NearbyNow. What do you learn from the analysis?

• First Screen

- First Screen is a template for completing a feasibility analysis.

- It’s called “First Screen” because it’s a tool that can be used in the initial pass at determining the feasibility of a business idea.

- If a business idea cuts muster at this stage, the next step is to complete a business plan.

Q.4: Complete a First Screen analysis for NearbyNow. What do you learn from the analysis?

First Screen for NearbyNow(hyperlink to FirstScreen for NearbyNow.doc)

Q.4: Complete a First Screen analysis for NearbyNow. What do you learn from the analysis?

• People really needed the service.• Initial beta or test phase of a product or service is that

things are learned that were totally unexpected.• In NearbyNow’s case, it found that one of the most

valuable aspects of its service.

Application question.

Q.1:What types of insights do you think Dunlap picked up, about the feasibility of NearbyNow, by sitting on a stool next to the directories in malls?

• Its idea feasibility• Its alternative product analysis• Its market needs

Q.2 If you had started DanceJam, how would you have setup its product/ service feasibility analysis?

• Instylmeds idea: Provide patients access to prescription

medications instantly after they’re prescribed by a doctor in a

hospital emergency room or at an urgent care center.The

prescriptions are dispensed via a vending machine that’s

present in the facility

• Without 24-hourpharmacies. This make it difficult for people

who visit an emergency room or an urgent care center late at

night or on a weekend to quickly fill their prescriptions

Feasibility analysis

• Idea: it solves problem (it allows patient access quickly to meditations 24/7)

• Market/ industry feasibility analysis• Operational feasibility analysis • Financial feasibility analysis