Spacer: Enhancing Customer Experience with Augmented Reality

Business Assessment-2
Idea generation
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Table of Contents
Executive summary.........................................................................................................................3
Introduction......................................................................................................................................4
Main Body.......................................................................................................................................5
1. Explanation of the customer/market problem that needs solving and/or the reason the
innovation is required..................................................................................................................5
2. Argument of the benefits to be generated by the idea.............................................................6
3. Evaluation of the feasibility of the idea...................................................................................7
4. Discussion of the proposed business model............................................................................8
5. Critical success factors to be managed during execution of the idea......................................9
Quality of contribution and collaboration......................................................................................10
1. Individual student has demonstrated they worked productively in the team, including the
ability to brainstorm with others to generate a viable idea set and to solve project problems
collaboratively...........................................................................................................................10
2. Evidence that the individual student has helped the group reach consensus on the most
viable idea to take forward for Assessment 3............................................................................11
3. Evidence that the individual student has been proactive in ensuring the successful
completion of the portfolio of materials for the pitch in Assessment 3.....................................12
Conclusion.....................................................................................................................................13
Appendices....................................................................................................................................14
References......................................................................................................................................15
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Executive summary
This report has developed to present a new innovative business idea to gain the attraction of
customers which has less market rivalry. These business ideas are developed to accomplish the
unfulfilled needs of the markets with a new innovation. Uniqueness, special features, innovations
and customer attraction are some basic key factors which are contained by nosiness idea.
Basically, business is based on the current market problems and needs on which entrepreneurs
show their expertise to resolve it in an effective manner. Most of the successful companies are
based on the current market needs and regular change or betterment in the business idea.
Different benefits have delivered to targeted customers and entrepreneur which is the key focus
of the new business idea. Feasibility of the business idea is discussed in this report which is
essential to measure according to the customers’ needs and demands of the market. A proper
business model is developed in the report which helps the company to analyse the different
factors needed to consider while executing the business idea. Critical success factors are
analysed in this research which is essential to consider measuring the success of the business.
The business idea which is provided in this report is properly explained and analysed by different
factors.
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Introduction
This report is based on the Spacer which is an Australian online rental service provider
organisation. All of the business activities of Spacer are done by the website of the organisation.
The company is providing car parking and storage area services for its targeted customer in the
different geographical areas. Augmented reality technology is the new business idea which can
be used by Spacer to provide a better customer experience.
Figure 1: Working of Spacer
Source: Spacer, 2018.
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