Enterprise Creation: Developing a Mobile App for Smart Shopping
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This report discusses the process of creating an enterprise and developing a mobile app for smart shopping. It covers the concept of the business idea, the rational behind it, feedback received, and the marketing strategy for the app. The report also includes a questionnaire and its interpretation.
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INTRODUCTION In business term, enterprise in also commonly described as profit making business that are mostly connected with entrepreneurial ventures (Bernard, 2012). There will be different forms of companies, depending on the number of members there. In order to create the an enterprise there are some specific steps that are needed to be consider such as Discovery, Modelling, and Start-up that form the new venture. In this project, an app is developed which help in scanning the barcodes of the product and gives the necessary detail regarding that product. The report also includes feedback section that help in making proper recommendations so that proper alternation are made that help in fulfilling the market need. TASK Section 1. Concept of business idea: The business idea is regards to developing an app which can be used for purpose making advancements in purchasing of products from stores (Bernus, Nemes and Schmidt, 2012). In this app, customers just need to scan barcodes and it will provide detailed information regards to size of product, sort of goods which is included in packed product. Along with this application has the feature of preparing automatic basket of products in accordance of days on which a customer make purchasing regularly. This application will notify to customers in the case when products are being sold out on promotions. The expenditures on developing an application is around 50.000 to 100.000 approximately. Rational behind this business concept: The reason behind developing this business idea is that it can be helpful for both to the customers and retailers. It is so because this is designed in a kinds of manner which can attract both to the buyers and sellers. From the perspective of finance, this app will recover its cost in quick time period. Like this application will charge amount from those business entities who want to get data of customers habit. As well as customers are also required ton pay a sum of amount if they use this application from a particular retailer. Along with advertising of retail products will also generate higher amount of profit. In upcoming time period, it is expected that
demand of this application will raise as it is based on new and advanced technology. Thus, the idea of developing this application will be beneficial in future. Section 2. From the original business idea that is launching an appropriate and valuable mobile app which would be advantageous to customer (Brush, 2013). There were various useful feedback which was given at the time of presentation that help in modifying the the original idea and making most effective application for user. Some of the useful feedback are as follows: Improvement in cost From the initial business canvas model it has been observed that the overall cost require to establish the new app will be around 50000-100000 pound. While presentation, colleague have advised and make a proper feedback to alter the cost figures as these may be not favourable for new business and even lead to loss in future. The approach suggested is to reduce the expenses included on advertisement and other promotional activity as the only focus is to build a effective application which could ease the shopping need of customer. Cost figures must be only 50000 pound and there is a need of proper allocation of budgets that will be beneficial in getting the desired results and goals (Camarinha-Matos and Afsarmanesh, 2013.). Location of Application In order to make the easy availability of application the best channel or online source will be google play store. It is the widest platform where number of user visit in a day to search the most suitable application such as games, grocery shop, shopping site etc. This is consider to be the most easiest and convenient channel where several customer can visit and download the application โSmart Grocyโ without any kind of installation charges. So the availability of new app which help customer to easily scan the product and get the desired information will save time and cost and are beneficial for retailer also in the meanwhile. There is a future plan to publish and upload a app on IOS software according to the requirement and success of particular idea. Why not on the IOS Many of team member were totally impressed with the idea of New business app but at the same time there are some colleague those want app to be published on IOS software. This is software which can be used by Apple user and there are limited user of IOS as most of the customer use Android devices. It is also conformed that publishing mobile application on
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Android devices are more cheaper as compared of IOS store as Apple plc gives permission only to certified application (Colli, 2012). It is necessary while publishing smart grocy on google play in order toget the respective application fit for experiment. So the app must needed set up list down the releases to the particular field which the app actual belongs. A release actually the collection of more than one artifacts that are basically prepared earlier releasing a specific app or modification to users. Competitors: It is also suggested by the colleague that there are many other retailer which have their own mobile app that help customer while shopping so there must be some special features in โSmart Grocyโ that help in attaining the competitive advantage. LikewiseSmart Grocyhave gives various additional benefit to customer such as while shopping customer can get the detail information about the product and make a smarter choice. It will also make proper intimation to customer one they buys product as the app store data which is purchased by customer. For example if customer scan the toothpaste once than app will automatically gives notification before the toothpaste lasts. It is also suggested to add one more beneficial feature to the respective app which add value to the money of customer such as any purchase through app will give additional rewards points that can be used to make future shopping. It is observed that many small and big retailer dealing within the same industry have their own app which benefit the customer to get the knowledge about the availability of respective commodity they prefer to buy. How to monitor and control During the presentation the most important and crucial feedback that was given by the colleague is related with privacy and storage of customer data. There is an essential and foremost need to protect the information and suitable detail of customer those are using the app to buy good and paying their bills (Duberley and Carrigan, 2013). It is also recommended that app must be properly maintained and controlled by the developerโs team on regular basis as it help to fix the bugs, update according to the software requirement and improve the graphic which add amazing experience to user. Thus, maintaining the application is more important that launching the app as end user must be always satisfied. Although it will help control the cost of maintenance and clients satisfied by accumulating in a service plan early in the cycle and setting priorities changes afterwards.
Canvas model: Section 3. In this aspect of project report, developed business idea has been revised in accordance of reviews. Herein, underneath the explanation of revised plan has been done below in such manner: ๏ทResources needed- In order to prepare this grocery app, mainly two types of resources will be needed which are intellectual and human resources. Under the intellectual resources different types of elements such as IP servers, programs etc. are needed (Michelini and Fiorentino, 2012). As well as in the human resources developers who can create coding of app. Apart from it, data of customers will also have needed that can be used as framework to promote the application. It can be gathered from large shopping malls. ๏ทResource available- The resources which we have are human and intellectual that are not enough to create application. This is so because by above mentioned resources, this app can be prepared but cannot be implemented effectively due to shortage of customer
data. It can be effectively applied only if they will have complete data of customer segment in which they want to launch their application. ๏ทOperation plan- The operation plan helps in providing detailed information about how effectively a group of team will contribute to gain objective of company. This operation plan should be clear (Poza, 2013.). In the aspect of above business concept, operational plan was not clear and as a result they are needed to revise their operational plan so that their idea of business can be applied effectively into different stores. Like from the feedback it is clear that most of the people want the app on the IOS software which will more promisingly promote the Smart Grocy. ๏ทMarket segment and value proposition- The market segment for this new application is stores from which customers buy products. As well as the value proposition of their application is quite impressive. It is so because this is a unique application that is advanced. In addition, the application is price effective and easier to install because of availability on Google play store. ๏ทRisk and strategic option- In each business concept, there will be a sort of risk which should be identified on time so that appropriate actions can be taken. In the aspect of above business plan, risk is about lack of durability. This is so because the new grocery app can be effective in starting time phase but it is not assuring that this will succeed in future. Hence, they should make effective strategy for overcome the risk. ๏ทMarketing strategy- In order to do marketing of new launched application, the best way is use of social media channels that includes Facebook, Instagram etc. Along with retailers also can promote their application because they get in touch with customers on regular basis and can do mouth publicity. To achieve maximum profitability to maintain the company, a great marketing approach must be taken from marketing research and based on the right phone combination. It is mainly the combination of marketing mix, distribution of marketing areas and environmental analysis that benefit the app to reach the desired user in the particular time frame (Shrivastava and Kennelly, 2013). ๏ทFinancial plan- This is one of the key step for creation of plan which must be prepared carefully. It can be defined as a projection of revenues and expenses so that resources can be gathered. In the aspect of preparation of this application, proposed cost was of 50000 pounds to 100000 that is not so effective for investor as they cannot make investment
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with a huge difference of cost. The revised cost for this application can be 50000 pounds so that investors can make investment accordingly. CONCLUSION In the end of report, it is concluded that making or creating an enterprise have the main motive that is to add value to the customer and make desirable profit which benefit in executing the operations.
REFERENCES Books and Journals: Bernard, S. A., 2012.An introduction to enterprise architecture. AuthorHouse. Bernus, P., Nemes, L. and Schmidt, G. eds., 2012.Handbook on enterprise architecture. Springer Science & Business Media. Brush, C., 2013.International entrepreneurship (RLE International Business): the effect of firm age on motives for internationalization. Routledge. Camarinha-Matos,L.M.andAfsarmanesh,H.eds.,2013.InfrastructuresforVirtual Enterprises: Networking Industrial Enterprises IFIP TC5 WG5. 3/PRODNET Working Conference on Infrastructures for Virtual Enterprises (PRO-VEโ99) October 27โ28, 1999, Porto, Portugal(Vol. 27). Springer. Colli, A., 2012. Contextualizing performances of family firms: The perspective of business history.Family Business Review.25(3). pp.243-257. Duberley,J. and Carrigan,M., 2013. The careeridentitiesof โmumpreneursโ:Womenโs experiences of combining enterprise and motherhood.International Small Business Journal,31(6), pp.629-651. Michelini, L. and Fiorentino, D., 2012. New business models for creating shared value.Social Responsibility Journal. Poza, E. J., 2013.Family business. Cengage Learning. Shrivastava, P. and Kennelly, J. J., 2013. Sustainability and place-based enterprise.Organization & Environment,. 26(1). pp.83-101.
APPENDIX Questionnaire: 1.When you go shopping, do u make a shopping list: Yes- 82% No- 18% Interpretation- As per the feedback of 11 customers, this can be find out that there are 82% customers who make shopping list and 18% who donโt. It shows that most of the customers make shopping list before go to shop. 2.How do you normally record your shopping list? Paper- 18% Phone- notes- 46% Phone- text messages- 18% I donโt write one down- 18%
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Interpretation- As per the feedback of eleven customers, this can be find out that there are 18% who records shopping list on paper, 46% on phone notes, 18% on text messages and rest of customers do not record. It shows that most of the customers record shopping list. 3.How often do you shop per month? 1-3- 0% 3-5- 42% 6 or more- 58%
Interpretation- As per the feedback of eleven customers, this can be find out that there are 42% customers who go for shopping 3-5 times in a month and 58% goes for more than 6 times. It shows that most of the customers go for shopping in a month. 4.You are interested in promotions? Yes-100% No- 0%
Interpretation- As per the feedback of eleven customers, this can be find out that there are 100% customers who are interested in promotions. It indicates that promotion is important for companies. 5.What retailer do you frequently use for shopping? Lidl- 85% Asda- 50% Morrison- 12% Aldi- 12% Other- 25%
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Interpretation- The above chart shows that most of the customers go for Lidl to shopping and 50% prefer ASDA store. While 25% of customers like to go in other stores for shopping. 6.In what age range are you? 18-25- 28% 25-40- 72% 40- more- 0%
Interpretation- Above chart shows that there are 72% customers whose age is between 25 to 40 years. While 28% customers are of 18 to 25 years. It shows that majority of customers are of above 25 years and below 40 years of age. 7.How often do you use your mobile device? I never put it down โ 18% Once a day- 0% 4-5 times per day- 35% Only in break time- 0% Often- 47%
Interpretation- This chart shows that 18% of people do not put their phone down and 35% people use their phones for 4 to 5 times in a day. On the other hand, 47% customers often use their mobiles. 8.Do you usually look at product details? Yes- 80% No- 20%
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Interpretation- This chart shows that there are 80% customers who usually look at product details and 20% of people donโt. It indicates that product details are crucial for customers. 9.Would you like to get product advertisements based on your shopping? Yes- 72% No- 28%
Interpretation- This chart indicates that 72% of customers like to get advertisements on their shopping and 28% people do not want it during shoppings. 10.Which operating system do you use over on your phones? Android- 72% Ios โ 28% Others- 0%
Interpretation- The chart shows that 72% of customers are using Android system in their mobile phones and 28% of people use IOS system. It shows that there are more number of customers who use android devices.