Your Venture's Unfair Advantage
1. Conveniently Placed
Valuable: Very! You don't want drivers to have to go out of the way to connect to an express lane.
Rare: Not so much. Most places have various places for drivers to get on.
Inimitable: No, most places are conveniently placed
Non-Substitutable: Yes, if it is too far out of the way, people won't take it, so placement is key.
2. Saves Time
Valuable: Yes. Using express lanes will save everyone time.
Rare: No, all express lanes are made to save people time.
Inimitable: No, they all do this.
Non-Substitutable: Yes, if it didn't save people time, then they would not be needed.
3. Prices for Everyone
Valuable: Yes!
Rare: Yes. I've never heard of an express lane that allows people to pick different membership amounts to limit the amount of times they can use the express lane.
Inimitable: No, Other places could begin but it would be difficult to change their system.
Non-Substitutable: No, this can be substituted by something like a sunpass where it is one and done.
4. Unique Style
Valuable: Yes. If there is a cool or colorful design associated with my express lane over other more boring express lanes, odds are people will choose mine if there are no other factors.
Rare: Yes, most express lanes are dull and have nothing around them.
Inimitable: No, Other places could paint or decorate or symbolize their express lanes as well.
Non-Substitutable: No, it doesn't need to have a style to be used.
5. Ability to Bring in Help Quickly
Valuable: Yes, if there is someone with a flat tire or an accident occurs, I want to have a hotline where they can call and we send someone immediately to assist them.
Rare: Yes, I don't think other express lanes offer assistance.
Inimitable: No, other places could also put this in place.
Non-Substitutable: No, you don't need this service because AAA can do this but it will take them a lot longer.
6. Willing to Take Customer Feedback
Valuable: Somewhat, we would be very limited on what we could actually do with their feedback, but if there were pot holes or debris, we could easily go out to help sooner than other express lanes would.
Rare: Yes, I don't think other express lanes accept this.
Inimitable: No, other places could also listen to concerns and complaints.
Non-Substitutable: No, it isn't necessary.
7. Education/Experience
Valuable: Yes. Whoever is working must have an education and experience in some manner related to their job title in order to keep the company running smoothly
Rare: No, a lot of people have attended college or have gone through schooling in a technical school.
Inimitable: No, a lot of places require experience and education to get a job.
Non-Substitutable: Yes, you can't have someone with no knowledge of how something needs to be done doing something they can't do!
8. Connections/Networking
Valuable: Very! In every stage of the company from start to finish, connections are useful.
Rare: Probably not. I would assume most people in this field have good connections.
Inimitable: Not at all.
Non-Substitutable: No. You could have no connections but everything would be a lot harder and more expensive if that were the case!
9. Friendly Customer Service
Valuable: Yes.
Rare: No, a lot of places have good customer service reps now.
Inimitable: Yes, if your employees aren't nice, it's hard to fake a sincere person.
Non-Substitutable: Yes. You need good and happy workers.
10. Maintained
Valuable: Yes. If anything happens to the road we want to know ASAP and be able to respond pronto!
Rare: Yes, most places are aware of issues in the roads but let the little ones stay until there are too many or something big happens.
Inimitable: No, other places can pay more attention and care more.
Non-Substitutable: Yes, if a road isn't maintained then the road will become dangerous and cause greater issues as more pot holes or debris become apparent.
Most Important:
I would say that the most important resource we offer, from our customer's minds, will be the fact that I will have prices that cater to most families. We will have different prices and include extra benefits to those that pay more. No other express lane offers this.
Valuable: Very! You don't want drivers to have to go out of the way to connect to an express lane.
Rare: Not so much. Most places have various places for drivers to get on.
Inimitable: No, most places are conveniently placed
Non-Substitutable: Yes, if it is too far out of the way, people won't take it, so placement is key.
2. Saves Time
Valuable: Yes. Using express lanes will save everyone time.
Rare: No, all express lanes are made to save people time.
Inimitable: No, they all do this.
Non-Substitutable: Yes, if it didn't save people time, then they would not be needed.
3. Prices for Everyone
Valuable: Yes!
Rare: Yes. I've never heard of an express lane that allows people to pick different membership amounts to limit the amount of times they can use the express lane.
Inimitable: No, Other places could begin but it would be difficult to change their system.
Non-Substitutable: No, this can be substituted by something like a sunpass where it is one and done.
4. Unique Style
Valuable: Yes. If there is a cool or colorful design associated with my express lane over other more boring express lanes, odds are people will choose mine if there are no other factors.
Rare: Yes, most express lanes are dull and have nothing around them.
Inimitable: No, Other places could paint or decorate or symbolize their express lanes as well.
Non-Substitutable: No, it doesn't need to have a style to be used.
5. Ability to Bring in Help Quickly
Valuable: Yes, if there is someone with a flat tire or an accident occurs, I want to have a hotline where they can call and we send someone immediately to assist them.
Rare: Yes, I don't think other express lanes offer assistance.
Inimitable: No, other places could also put this in place.
Non-Substitutable: No, you don't need this service because AAA can do this but it will take them a lot longer.
6. Willing to Take Customer Feedback
Valuable: Somewhat, we would be very limited on what we could actually do with their feedback, but if there were pot holes or debris, we could easily go out to help sooner than other express lanes would.
Rare: Yes, I don't think other express lanes accept this.
Inimitable: No, other places could also listen to concerns and complaints.
Non-Substitutable: No, it isn't necessary.
7. Education/Experience
Valuable: Yes. Whoever is working must have an education and experience in some manner related to their job title in order to keep the company running smoothly
Rare: No, a lot of people have attended college or have gone through schooling in a technical school.
Inimitable: No, a lot of places require experience and education to get a job.
Non-Substitutable: Yes, you can't have someone with no knowledge of how something needs to be done doing something they can't do!
8. Connections/Networking
Valuable: Very! In every stage of the company from start to finish, connections are useful.
Rare: Probably not. I would assume most people in this field have good connections.
Inimitable: Not at all.
Non-Substitutable: No. You could have no connections but everything would be a lot harder and more expensive if that were the case!
9. Friendly Customer Service
Valuable: Yes.
Rare: No, a lot of places have good customer service reps now.
Inimitable: Yes, if your employees aren't nice, it's hard to fake a sincere person.
Non-Substitutable: Yes. You need good and happy workers.
10. Maintained
Valuable: Yes. If anything happens to the road we want to know ASAP and be able to respond pronto!
Rare: Yes, most places are aware of issues in the roads but let the little ones stay until there are too many or something big happens.
Inimitable: No, other places can pay more attention and care more.
Non-Substitutable: Yes, if a road isn't maintained then the road will become dangerous and cause greater issues as more pot holes or debris become apparent.
Most Important:
I would say that the most important resource we offer, from our customer's minds, will be the fact that I will have prices that cater to most families. We will have different prices and include extra benefits to those that pay more. No other express lane offers this.
Hello again Stephan! Good job on your assignment you did a really good job of going into detail and describing each part of the assignment I definitely still agree with having the express lanes to make commuting faster and even safer because of the express lanes giving the opportunity for more road space meaning less traffic back up and safer drivers
ReplyDeleteThis is a very well-organized list of advantages that your venture has and brings to the table. Your most important resource, prices for everyone, is definitely valuable as charging customers on a sliding scale increases the size of your potential target market. I also think that having friendly customer service is extremely fundamental as it’s what keeps customers coming back.
ReplyDeleteHello Stephan, your assignment is very organized great job with that. I really like your idea and I think it will be very useful in areas with huge traffic by saving people time and also reducing the amount of traffic.
ReplyDelete