Business Plan Analysis 2021-2026
Urban Future specialized in technology based urban retail design. Our 'product' enables your future retail business to achieve 3D-virtual technology shopping experience within minimum urban spaces and to ensure the amenity for customers. At the same time , we aim to build our future environmental awareness and produce the most sustainable architectural solutions for city development .
Product
Pop up architecture - urban retails
3D virtual technology based shop facilities
Target market
- Retail developers/owners
- Urban developers concerned with government environmental targets
- Brand owners
- Individuals
- Utilises disused areas/ small spaces within spaces around the city; a particular target is along transport links - such as the tram, and within the train station
Unique Selling Points
- 3D virtual shopping experience
- In partnership with NEC - providing technology support with light and
quick architectural solution. - Enable government environmental targets to be achieved - such as lowering the floor space and carbon footprint
- Create a interactive shopping experience along tram stops and stations; to bring customers in from Nottingham's tramsport links.
S W O T Analysis
Strength
Competitors are using mobile devices such as iPad, iPhones, etc. to purchase and order products within shops, where as the technology we are using will give the shoppers a virtual shopping experience.
Nike Fuel station in London and Gucci are the only other retailers using LCD displays with interactive displays. These lack the ability to order and view all products within the store as they are targeted to advertise particular products within the store to the users. Our advantage over this group is that we give the shopper the capacity to view all products and order within store with this immersive and interactive display.
Weakness
We have currently only addressed one competitor within the market, as we are finding difficulty undertaking market analysis. this is due to the nature of the product itself involving new technology. There could be a surge of competitors later on when the technology is known more within the market.
We could improve the customer understand within the market. As this being a new technology, (retail owners) may not have heard or understand the benefits of virtual reality based shopping. We would like to improve the customer awareness of the product. Therefore our customers, (the developers) would be more interested in our service is general shop retailers had a greater understanding of this technology.
As a new business, there is lack of customer awareness of our brand and our services we can provide. This will only develop as we obtain more customers and a better reputation by advertising our brand.
Opportunities
A trend we have found out about is that e-shopping is increasing at a rate of .
Therefore it would be an opportunity for us to utilise this by incorporating virtual reality (and aspects of e-shopping) into shops themselves.
New market segments: From 2014 stores are re-evaluating their store layouts to create more interactive and engaging locations through the use of mobile devices. But some facilities of virtual reality are restricted to these devices whereas we are offering a complete immersive experience using large LCD displays and holographic projection.
Another trend we have found is mobile business are on the increase such as popup shops due to technology developments towards mobile POS systems business can take place at varied locations.
We are part of the Nottingham and Derby Architects society ad as being a part of the society we can set up exhibitions with said society to get our brand known and get our customers.
We are also networking with Nottingham transport developers and business based within the station. We have found a increasing trend in people using public transport more over the past 10 years and it continues to grow.
Product
Pop up architecture - urban retails
3D virtual technology based shop facilities
Target market
- Retail developers/owners
- Urban developers concerned with government environmental targets
- Brand owners
- Individuals
- Utilises disused areas/ small spaces within spaces around the city; a particular target is along transport links - such as the tram, and within the train station
Unique Selling Points
- 3D virtual shopping experience
- In partnership with NEC - providing technology support with light and
quick architectural solution. - Enable government environmental targets to be achieved - such as lowering the floor space and carbon footprint
- Create a interactive shopping experience along tram stops and stations; to bring customers in from Nottingham's tramsport links.
S W O T Analysis
Strength
Competitors are using mobile devices such as iPad, iPhones, etc. to purchase and order products within shops, where as the technology we are using will give the shoppers a virtual shopping experience.
Nike Fuel station in London and Gucci are the only other retailers using LCD displays with interactive displays. These lack the ability to order and view all products within the store as they are targeted to advertise particular products within the store to the users. Our advantage over this group is that we give the shopper the capacity to view all products and order within store with this immersive and interactive display.
Weakness
We have currently only addressed one competitor within the market, as we are finding difficulty undertaking market analysis. this is due to the nature of the product itself involving new technology. There could be a surge of competitors later on when the technology is known more within the market.
We could improve the customer understand within the market. As this being a new technology, (retail owners) may not have heard or understand the benefits of virtual reality based shopping. We would like to improve the customer awareness of the product. Therefore our customers, (the developers) would be more interested in our service is general shop retailers had a greater understanding of this technology.
As a new business, there is lack of customer awareness of our brand and our services we can provide. This will only develop as we obtain more customers and a better reputation by advertising our brand.
Opportunities
A trend we have found out about is that e-shopping is increasing at a rate of .
Therefore it would be an opportunity for us to utilise this by incorporating virtual reality (and aspects of e-shopping) into shops themselves.
New market segments: From 2014 stores are re-evaluating their store layouts to create more interactive and engaging locations through the use of mobile devices. But some facilities of virtual reality are restricted to these devices whereas we are offering a complete immersive experience using large LCD displays and holographic projection.
Another trend we have found is mobile business are on the increase such as popup shops due to technology developments towards mobile POS systems business can take place at varied locations.
We are part of the Nottingham and Derby Architects society ad as being a part of the society we can set up exhibitions with said society to get our brand known and get our customers.
We are also networking with Nottingham transport developers and business based within the station. We have found a increasing trend in people using public transport more over the past 10 years and it continues to grow.
![Picture](/uploads/4/4/9/9/44999989/8769766.jpg?1424628574)
One of our strengths is that we are utilising up to date technology and as this develops we will also develop our approach to shopping. Any change is therefore a benefit to our business and will allow us to gain more customers with more current and innovative strategies to attract shoppers involving technology.
Changes: government policy is lowering carbon emissions and sizes of city growth, therefore, utilising spaces within the city.
Threats
The imminent changes within this field involves the change in the government environmental standards.
The developments:
There could be a surge of competitors later on when the technology is known more within the market.
Managers may prefer using sales people as their marketing strategy rather than this form of ''hard selling'' technique.
Obstacles the firm may face:
This form of virtual technology is in competition with 50% of marketers who have big data to track shoppers. Our technology based industry requires a personalised experience, therefore, allowing greater targeted marketing. To achieve this, we would need a form of big data to track customer habits. As a small business, we are limited to smaller amount of shopping behavioural data.
P E S T E L Analysis
Website for Nottingham Trent University third year project.
Module: Professional Practice DESN30117
Project: 2 - Business Plan
Group: 5
Group name: Urban Future
Members: Fred Lui Yuen, Sabba Hussain, Qi Gao, Vanisha Saini, Alvin Wong
DISCLAIMER: This is a student project based at Nottingham Trent University. All content is part of an undergraduate project to create an imaginary business in 2020, and is entirely fictitious. All use of material from other sources is fully acknowledged, and no part of this site is intended as the basis for a real company or for the offer of any professional services.
Changes: government policy is lowering carbon emissions and sizes of city growth, therefore, utilising spaces within the city.
Threats
The imminent changes within this field involves the change in the government environmental standards.
The developments:
There could be a surge of competitors later on when the technology is known more within the market.
Managers may prefer using sales people as their marketing strategy rather than this form of ''hard selling'' technique.
Obstacles the firm may face:
This form of virtual technology is in competition with 50% of marketers who have big data to track shoppers. Our technology based industry requires a personalised experience, therefore, allowing greater targeted marketing. To achieve this, we would need a form of big data to track customer habits. As a small business, we are limited to smaller amount of shopping behavioural data.
P E S T E L Analysis
Website for Nottingham Trent University third year project.
Module: Professional Practice DESN30117
Project: 2 - Business Plan
Group: 5
Group name: Urban Future
Members: Fred Lui Yuen, Sabba Hussain, Qi Gao, Vanisha Saini, Alvin Wong
DISCLAIMER: This is a student project based at Nottingham Trent University. All content is part of an undergraduate project to create an imaginary business in 2020, and is entirely fictitious. All use of material from other sources is fully acknowledged, and no part of this site is intended as the basis for a real company or for the offer of any professional services.
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