BUS203: Entrepreneurship: Opportunity Analysis and Development

This report presents an opportunity analysis and development plan for a mobile application designed to address a gap in the health sector, particularly for tourists and individuals in unfamiliar locations. The student identifies a need for an app that provides quick access to hospital information, contact details, and location services, especially during emergencies. The report includes a problem and need analysis, consumer analysis, market analysis, and an examination of internal capabilities and commercial viability. The proposed app aims to bridge the gap created by the obsolescence of traditional tour guides and the lack of readily available information during medical emergencies. The analysis covers the competitive landscape, target market, and the app's unique selling proposition, emphasizing its focus on emergency response and ease of use. The report highlights the app's potential to save lives by providing quick access to essential medical services and information.

1
Opportunity Analysis and Development Report
By
Course
Date

2
Introduction
Entrepreneurship entails, launching and running a new business which is most cases is a small
business to start with. The people involved in the creation of these businesses are entrepreneurs
(Audretsch, and Keilbach, 2010). Entrepreneurs mostly identify an existing market gap and work
towards filling that market gap. They simply identify the available opportunities in the market
and work towards grabbing the opportunity. While other people only identify an existing
problem in the market. An entrepreneur would see an opportunity, recognize it and create a
business out of the existing opportunity (Schoolderman, Bicer, Valencia, and Adriana, 2017).
This report focuses on finding a category that lacks recent innovations. Majorly the report
focuses on the health sector. In most cases, when people visit new areas, they are always not
anticipating accidents or emergency medical cases. This tends to make them unaware of the
existing places they could visit in case of an emergency. The innovation here is to relate an app
that detects all the available hospitals within an area, gives the contact details and the precise
location. The app would also inform the hospital that there is an incoming emergency. If in case
they happen to have ambulance services, they would instantly respond to the case. The target
customers are the tourists, new people in an environment and the people currently living there as
well. I find this as an area lacking innovations because although there are things like Google
map, people in panic mode often lack the time to look up major details about hospitals. In case
you are looking for a hospital, the app would indicate all the nearest hospitals within a given
range. Action can be taken from here henceforth and lives could be saved. The app could be
more sophisticated such that it gives locations to almost everything someone is searching for,
may it be restaurants, hotels, parties, and clubs. Upon clicking on one of the items interested in,

3
details would pop up and a customer would be satisfied. I find it to be an existing market gap
because tour guides have become obsolete nowadays.
Problem and need analysis
Problem and need as analysis is a systematic process whereby needs are determined and
addressed between the current conditions and the desired conditions. This is basically between
the gaps and the wants (Greiff, Holt, and Funke, 2013). The idea is to create an app which would
bridge the existing gap of emergency cases especially when people are on tours and travels. The
app simply tries to solve the problem of increased emergency medical cases that would
sometimes result in death and more severe cases. In some cases, people visit health care centers
and find there is not enough equipment or it is out of operation. In other cases, the doctors are
missing and the required needs cannot be attended to. Therefore this app tries to bridge this gap.
It gives recommendations and details on where patients can get the most favorable care for their
emergency cases.
The target customers are mostly tourists in a new area, they will be in the need for medical care
services while they are unaware of where to get the medical care. With this app, they can simply
be directed and even get ambulance services. The customers need to feel secure and safe (Arts,
Frambach, and Bijmolt, 2011). In other words, they can count on the system and they can get
what they want anytime. Apart from the medical services which are the major area of interest in
this report, the app will also give directions on the hotels, restaurants, parties, clubs and literally
almost everything else someone would think of. It is more of a sophisticated Google map but
gives more details about what specifically the customer is looking for.

4
The existing problem in the tourism industry right now is that tour guides have become obsolete.
People would like something more than a person trailing behind them showing them places.
They would be more willing to walk alone and visit the places they are interested in easily
(Cárdenas, et al, 2011). The app will be a map which directs and gives details about places and
services the tourists need to access.
The customers will only be required to pay when downloading the app. These are the only fee
involved therefore it is absolutely customer friendly. No charges are required when looking up
the required destination. This is because, for example in an emergency, entering billing details
before accessing the services would totally inconvenience the customers and they may end up
not even using the app anyways. Therefore, it is easier to maintain zero charges to access the
services and only charge the downloading fees for the app.
Consumer analysis
Consumer analysis entails identifying the most likely consumer to purchase and use the product
in question. This can be analyzed through first defining the customer needs. After need
identification, the identification of the most possible solution is made to solve the customer
needs. The entrepreneur should also identify what would motivate the customers to make the
purchases (Hawkins, and Mothersbaugh, 2010).
In this case, the customers are mostly tourists visiting new places. The need identified is that they
are mostly not aware of the available amenities they wish to use around the places they are
touring. Sometimes the customers require tour guides and people to direct them around.
However, this may not be enough because not all the time would someone appreciate another
person trailing behind them showing them places they should go (Brodie, Ilic, Juric, and

5
Hollebeek, 2013). Some cases are emergency cases, for example, the medical cases. When
tourist are faced with emergency medical cases, they are mostly in a panic mode which would
make them succumb to death easily especially when they are no people nearby. This app would,
therefore, be of help since it will easily direct the person to the nearest place they could get help.
He/she can make contact and be directed on the next step whereby is ambulance services are
available and necessary, the medical care center would send them immediately.
The customers would be willing to pay less for such an app because it is not a basic need.
Therefore small and one time charges would apply. This will be the downloading costs for the
app. The app is beneficial to the customers because they would get instant information when they
need it. For example in cases of medical emergencies, death and serious cases would be avoided
because the customer can easily access the most suitable hospital for themselves. However there
are still some risks involved since there are many scammers upcoming today for dubious
activities, people may not easily accept and trust the app. this would lead to reduced uptake of
the idea.
However, this is the digital era, people are more open to digital ideas than the old idea of having
a tour guide. The customers, therefore, would seem more interested in the idea of having some
digital map than direct them wherever they would want to go (Outlook, 2010). The app will
always be updated for example with the events and open locations that the customers might be
willing to visit. Therefore the app would suit the tastes and preferences of the customers
appropriately. The customers would be always open-minded about making the purchases for
such a product. Almost every tourist would be willing to consume this product because it is of
great importance to them.

6
Market analysis
The tourism industry is very competitive. It is among the most revolutionary industries in that
new ideas are always coming up which renders the previous ideas obsolete. The idea of virtual
travel advisors is picking up more nowadays since the trip advisory sites and books on traveling
tips are filling the vast market and literature, therefore, tourists have guided tours without the
need of tour operators (Bhattacharyya, and Nain, 2011). This is the gap my idea is trying to
bridge however in a different way. According to Nielsen Marketing Research, people are more
open to the idea of using apps than finding people to guide them almost every tourist nowadays
have a smart gadget which can accommodate apps. The average time people use on apps while
on tour is estimated to be 95% more than spending on other sites like the websites. This value
increased such that in 2013, 116% was recorded as average usage of apps on traveling (Chen,
Hsu, and Lin, 2010). Therefore there is real competition clicking in on the usage of the app but
this doesn't mean that one could not invest in the idea as well. Therefore this app is designed to
bridge and take advantage of the existing gap in the market whenever people are faced with
emergency cases.
In the growth cycle, this idea is at the growth phase because many people have already invested
in the idea although not exactly the same therefore the idea of using an app is not in the
introductory phase. It has not yet attained the maturity phases because much more ideas are still
left unexplored. The idea of using apps to aid the tourists in their traveling is not new in the
market however it is not yet in the maturity phase.
The market size for an app is all over the world. Everyone can and will be able to download it
wherever they are therefore this market is huge and expanding. The potential market is mostly
the most visited places by the tourists since the app is majorly aiming at people who are

7
unfamiliar with the places they are in at a given time. This, therefore, maintains that there will
always be customers for the app all the time since people travel all the time all over the world.
Internal capabilities
The major motivation for creating the app is because there is an existing gap in the market
(Economides, and Tåg, 2012). I have great expertise in coding and therefore I am sure I can
create something that would be as an app which responds and gives important information to
people visiting new locations. The major aim of creating the app is to take advantage of the
existing gap. For example, many people travel without the idea of the new place they are going.
The app would, therefore, provide ample information on all the social amenities someone needs
to access especially when there are emergency cases for example medical emergency. The
winning team from the creation of this app are the tourists, they would majorly appreciate the
invention since it is always god to be prepared. The app would give an idea of the available
amenities, how to access them and their availability at any time (Drucker, 2014).
Commercial viability
The unique selling point or value proposition involves the campaigns that would make customers
be willing to switch brands. This is basically why customers would prefer one brand over the
other. The seller has to provide the factors that would make one service better than the other that
is what makes them better than their competitors (Morgan, 2011). The entrepreneur, therefore, ha
to present what their brand does well in relation to what their customers would want. The
entrepreneur should also avoid the place where the competitor meets the consumer needs more
than they do. The battling point is whereby the consumer doesn’t even care about the brand. The

8
riskiest zone is where the entrepreneur needs to battle with the competitor for positional power.
Therefore the entrepreneur has to go emotional (Niu, and Wang, 2016)
For this app, the unique selling proposition is that the app does well in response to emergency
cases than most of the other travel apps. Most of the apps being developed everyday satisfy the
travel needs of booking hotels, booking travel sites and booking traveling tickets. The existing
gap in emergency cases is still available to be explored. Therefore making the brand even bigger
in terms of what the app does and what the customer wants would be a plus to the inventor and
the customers (Lehner, and Kansikas, 2012).
The commercial viability of the idea is scalable because it is what the customers would want and
the brand specifically provides that. Therefore people would be willing to download the app
which would be an advantage to them and to the brand selling too. It solves the customer needs,
therefore, it would sell big. The expected return on investment is a high amount. The market is
already global which makes it big enough to provide more profits (Ozaki, and Sevastyanova,
2011). The cash flows would be increased since people travel all the time and face unexpected
emergency cases that would need medical attention. Every traveler would ensure they have this
app, therefore, they would download it even before they face the emergency case. This would
increase the sales and in turn increase the profits.
Conclusion
In conclusion, the target market is the tourism market which is highly growing every day. The
idea of creating an app to bridge the gap for emergency and accident cases that would require
medical care would be highly appreciated. The reason is the cases are always unexpected
therefore people cannot depend on tour operators. Another reason is that people have gadgets

9
nowadays and research shows that people appreciate the idea of using apps more than using the
websites. The market size is global which means that the idea is profitable and the returns on
investment would be increased is investment was done.

10
References
Arts, J.W., Frambach, R.T. and Bijmolt, T.H., 2011. Generalizations on consumer innovation
adoption: A meta-analysis on drivers of intention and behavior. International Journal of
Research in Marketing, 28(2), pp.134-144.
Audretsch, D.B. and Keilbach, M., 2010. Entrepreneurship and growth. In Knowledge Intensive
Entrepreneurship and Innovation Systems (pp. 309-320). Routledge.
Bhattacharyya, S. and Nain, A., 2011. Horizontal acquisitions and buying power: A product
market analysis. Journal of Financial Economics, 99(1), pp.97-115.
Brodie, R.J., Ilic, A., Juric, B., and Hollebeek, L., 2013. Consumer engagement in a virtual brand
community: An exploratory analysis. Journal of business research, 66(1), pp.105-114.
Cárdenas, A.A., Amin, S., Lin, Z.S., Huang, Y.L., Huang, C.Y. and Sastry, S., 2011, March.
Attacks against process control systems: risk assessment, detection, and response.
In Proceedings of the 6th ACM symposium on information, computer and
communications security (pp. 355-366). ACM.
Chen, Y.H., Hsu, I.C. and Lin, C.C., 2010. Website attributes that increase consumer purchase
intention: A conjoint analysis. Journal of business research, 63(9-10), pp.1007-1014.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Economides, N. and Tåg, J., 2012. Network neutrality on the Internet: A two-sided market
analysis. Information Economics and Policy, 24(2), pp.91-104.

11
Greiff, S., Holt, D. and Funke, J., 2013. Perspectives on problem-solving in cognitive research
and educational assessment: analytical, interactive, and collaborative problem-solving.
Journal of Problem Solving (The), 5, pp.71-91.
Hawkins, D.I. and Mothersbaugh, D.L., 2010. Consumer behavior: Building a marketing
strategy. Boston: McGraw-Hill Irwin,
Lehner, O.M., and Kansikas, J., 2012. Opportunity recognition in social entrepreneurship: A
thematic meta-analysis. The Journal of Entrepreneurship, 21(1), pp.25-58.
Morgan, M., 2011. Personal branding: Create your value proposition. Strategic Finance, 93(2),
p.13.
Niu, Y. and Wang, C.L., 2016. Revised Unique Selling Proposition: Scale Development,
Validation, and Application. Journal of Promotion Management, 22(6), pp.874-896.
Outlook, F.F., 2010. Global market analysis. Rome: FAO.
Ozaki, R. and Sevastyanova, K., 2011. Going hybrid: An analysis of consumer purchase
motivations. Energy Policy, 39(5), pp.2217-2227.
Schoolderman, R., Bicer, B., Valencia, J. and Adriana, M., 2017. Bridging Skills Gap in the
Caribbean.