New App Development/ Hospitality Industry

New App Development/ Hospitality Industry

New App Development/ Hospitality Industry

Project description
This paper is in regards to the Development of A New App in the hospitality industry

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Paper 2: “Idea for a New Venture”: Your specific idea, including market segment

You will write a paper that states and defends your specific idea, including market segment. Remember your specific idea must capture how you will compete differently than established competitors and close substitutes. Not including exhibits, tables, and references, this paper must be at least 6 pages, double spaced.  It may be much longer.

Paper Format:

Part 1 of paper.
1.    In one short paragraph, state the career/industry your idea falls in and summarize why you chose that career/industry. This is a review of paper 1 basically.
2.    Clearly describe in one sentence what your unique idea is. Remember it is crucial your unique idea sets you apart from the competition. While the one sentence should stand on its own, you can elaborate after stating the sentence.
3.    In an appendix, show at least one unique space map.
4.    Within the main body of your paper (not an appendix or exhibit at the end), show your completed “valuable unique space” exercise for the one main idea you want to pursue.  This exercise was assigned during a prior week, and is called Weekly Exercises: Accompanying Excel Spreadsheet (Unique way of competing).It is labeled “Valuable Unique Space” and is the first chart on the top of the page.  Again, just complete it in the paper for your one idea. Describe how you completed the sheet, detailing the exact steps you took to complete each column, including data collection and your thought process.
–    In the process of discussing step 4 above, (not as a separate part of the paper), describe your unique space, explaining the dimensions of the graph(s) in depth.  This includes explaining the exact benefit(s) and how you will achieve it/them.  Don’t describe a benefit in general terms, such as providing a more “personalized services”.  Instead, be specific, and explain exactly why you think you can achieve that benefit, while the competition can’t. Additionally, if you think you will have a sustainable lower cost structure than the competition, explain exactly how you can achieve this. Avoid generic reasons like low overhead, or reasons that no longer will apply if you get larger.
–    Focus on what is UNIQUE about the offering, clearly stating the benefit of that uniqueness, your costs to deliver the uniqueness and why you think you can deliver it. Explain why you think the unique feature meets a given criteria!   For example, you might explicitly explain why the UNIQUE benefit is of high value relative to the cost of delivering that benefit, or if you are offering less of a benefit, why the decrease in value to the consumer will be greatly outweighed by the decrease in cost that will occur.
5.    Briefly, discuss how you verified your space was unique!
6.    Within the main body of your paper (not an appendix or exhibit at the end), show your completed “Fit” exercise for the one main idea you want to pursue.  This summary exercise was assigned during a prior week, and is on the sheet called Weekly Exercises: Accompanying Excel Spreadsheet (Unique way of competing).  It is labeled “Fit” and is the second chart on the page (note I have revised it to clarify it).
7.    Describe how you completed the sheet for your main idea, and conclude whether the exercise makes you more certain of your idea, less certain, or the same certainty.

Part 2 of paper.
1.      State the EXACT market segment you will pursue.

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