29A – Venture Concept No. 2

Opportunity

The opportunity of the Knock Knock app is for any customers that order things to be delivered. This group of customers will be people that are frustrated with the current delivery systems, or simply looking for the most accurate and best delivery system. The nature of the need is increasing with people that want packages to be delivered, as it should be easier than having to go in store and find a product. Knock Knock is able to meet the needs of new customers, and ones that are just frustrated with current systems. Customers are currently satisfying the need of delivery with inefficient systems that are incredibly frustrating. These customers wait for hours for a package to be delivered, because the window of time currently packages could arrive is so extensive. They are not exactly loyal to this system, they are just not aware of Knock Knock and how beneficial it could be to them. The opportunity is huge and needed for the current process of delivery systems. The forces or changes in the environment creating this opportunity is the problems with the current delivery system. The window of opportunity will be open and just keep expanding based on the number of packages that are being delivered. Customers want to have items and get them in a convenient and timely manner.

Innovation

Knock Knock has a base price of $5 a month, and each month this price is reevaluated based on how the consumer received the products. The price is based on meeting the needs of the consumer but still making it worth paying for the service. For example, some customers might not pay for Knock Knock, considering they could keep their current delivery tracker which is free. The price of $5 a month is flexible, depending on the amount of packages that get delivered and the speed of the program. For example, a person that gets 10 packages delivered might have a price increase based on how accurate the deliveries were and how the app worked for them. This customer would stay with the program because of how helpful it was for the multiple packages and how much better it was compared to the old delivery systems. If the customer doesn’t have many packages delivered in the month, and or the delivery had any problems, the price could get changed or lowered. For example, if a customer only got one package in the month and the delivery was 5 minutes off, the price could drop to $3 the next month. This way, people will not have to pay the same amount as someone who used the services on the app 4x as much. Or if the deliveries weren't very accurate, the price will reflect your inconvenience. Knock Knock allows customers to look at the app to get a detailed exact time of arrival for deliveries, and allows the customer to decide if someone has to be present in order to receive the package. Knock Knock also allows an option for the package to be placed in a different place. For example, if the customer has a mailbox, the package could be placed in there instead of on the front porch. Also, if the customer lives in an apartment complex, the package could be left in the front office until the customer gets home.

Venture Concept

I would have an app developer that works on keeping the app running and updating it when needed. Customers will buy my innovation because it is affordable and saves them time and money. The app price will fluctuate based on how it helped the customer and how often it is used. The competitors are the delivery systems that are now in place. Their possible weaknesses or vulnerabilities include not having accurate times, and having customers not be available at the time of delivery because of how vague the times is. Most of the time, packages are given an estimated time of delivery and date of delivery. With Knock Knock, the app gives an exact time of delivery and options for if the person will not be home. With certain packages, it has to be signed and it can become very inconvenient for the consumer. Knock Knock takes away all the stress and makes the process easy. My innovation will solve or address the opportunity of how inconvenient delivery times can be and how vague they usually are. Customers will buy my invention because they are frustrated with the current system and are looking for the best solution to their problems. They will also be happy with the price point, because it is fair and can be adjusted based on the services that are provided for the month.

I did not receive any constructive criticism on this assignment so I just improved on things that I thought were beneficial. I elaborated on how the price would differ depending on amount of usage and the accuracy of each delivery. I thought elaborating on this would be beneficial because I feel that is a big selling point. I would be more inclined to commit to paying for a service if I knew the price would fluctuate depending on how much I used it and how it performed.