NearbyNow

1. NearbyNow GROUP 1 Southern taiwan university of science and technology 03/2014

2. AGENDA A. Case summary B. Discuss questions (Answers) C. Application questions (Answers)

3. Case Summary • In mid-2006 Scott Dunlap created a way for shoppers to search the inventories of local malls (search for products online but buy them at local stores). He named it Nearby Now • He talked to shoppers, retailers, and mall managers about using internet to enhance the retail experience. • In 2008 NearbyNow is presently in about 200 malls.

4. A. Case Summary • He found that : [1] they were more technologically savvy (experience, well informed) and fascinated by search engines. [2] there wasn’t internet site told a specific store had a particular product in inventory or where the cheapest place • NearbyNow allows shoppers to enter their zip code to find the specific location of the nearest store that carried which product, and the cheapest place to buy the product

5. Case Summary

6. Discussion Question 1 • Write a concept statement for NearbyNow. If NearbyNow was still in the start-up stage and Scott Dunlap asked you who he should distribute the concept statement to, what would you have told him?

7. Discussion Question 1 (cont.)CONCEPT STATEMENT

8. Discussion Question 1 (cont.)CONCEPT STATEMENT TARGET MARKET Nearby Now -- A powerful tool that helps you use your reputation to generate leads, opportunities and sales via YOUR own website.

9. Discussion Question 1 (cont.)CONCEPT STATEMENT Why NearBy Now?

10. Discussion Question 1 (cont.)CONCEPT STATEMENT Special Feature – No other company does this • - Finding the location of the nearest store and specific store had a particular product in inventory • - Price comparison • - Online purchase if product is not available • -”Local call buffering” • - NearBy Now Mobil Apps

11. Discussion Question 1 (cont.)CONCEPT STATEMENT MANAGEMENT TEAM • Dunlap – CEO & Founder at NearbyNow, Inc, who had worked for several Silicon Valley start-ups, an entrepreneur in residence at Redpoint Ventures. • Dunlap recruited former coworkers from E.piphany to build the service. • Billy Coover: Chief Executive Officer - Over 10 years of experience working in a wide variety of IT, Software Engineering , Finance roles. He’s built multiple award-winning software app in both the enterprise and consumer space

12. Discussion Question 2 • What types of gumshoe research did Dunlap benefit from, and what additional gumshoe research could he have conducted while he was investigating the feasibility of NearbyNow?

13. Discussion Question 2 (cont.)Gumshoe research These methods convinced Dunlap that there was a need and an enthusiastic thirst for the solutions that NearByNow planned to offer

14. Discussion Question 2 (cont.)Limitations of the system – Learning the unexpected • How accurately stores track their inventory? • Some high-end retailers do not like their products seen side by side with less expensive alternatives. • When shoppers saw that a store did not have an item, they did not call the store to ask about it NearBy Now’s call center Local call buffering NearBy Now Mobile Apps REAL service professionals

15. Discussion Question 3 Did you know that the majority of malls in the United States are owned by six companies? If not, how might you have discovered this information if you were conducting feasibility analysis for a product or service that would be place in malls?

16. Top 6 largest shopping mall owners in United States on Dec. 31, 2005

17. The first partners of NearbyNow • If the majority of malls in the United States was not owned by only six companies above, I suggest that NearbyNow should develop their business state by state in the U.S

18. Discussion Question 4 • Complete a First Screen analysis for NearbyNow. What do you learn from the analysis?

19. First Screen analysis • Strength of business idea: business takes advantage of an environmental trend, solve a problem and it is a timely business • Industry-related issues: not so many competitors at that time, the industry could have a strong growth and high operating margin

20. First Screen analysis • Target market and customer-related issues: identified target market with high growth potential, high purchasing power of customers and easy to attract customers awareness. • Founder related issues: experienced, skilled, occupying social networks, the team is available. • Financial issues: many revenue drivers

21. 5 3 4 4 3 19

22. ApplicationQuestions 2000 people (one-to-one or group) Time saving • Question 1 A concept statement should be developed and distribute to stores and customers => Analyze feedbacks from stores and consumers Does it take advantage of an environmental trend, solve a problem, or take advantage of a gap in the marketplace? Product/Service Feasibility Product/Service Desirability Consumers’ needs Retailers and mall managers Gaps between online and offline shopping

23. Explanation • Scott Dunlap quickly realize that in product or service desirability, he needs to take advantage of the gap that exist in the marketplace, which is making customer life easier by creating apps that will help them search the mall or the place that they chose. In which he did a close research and in time (2008) he introduce the app that will serve as a guide to the customers needs.

24. Product/ Service Demand • Scott’s application is a big hit to the customer, although the customer use the app to compare the price of an item that they want, they still want to see it personally, which the application cannot offer. • Another problem is the responds of the store, not all store can keep up with the wants of the customer, some store cannot tell the customer right away if they have stocks or not.

25. ApplicationQuestions • Question 2 • Service feasibility (no answer, the company has shut down already)