An app concept just like anoter day!

ratul aich
ratulaich@gmail.com
+91 7411045189 (india)

Before reading the concept you must know about two of the following things.

1. A brief about Microsoft and Nokia collaborated mobile space strategies.

Microsoft windows recently launched Windows 8. In Windows 8 for the first time Microsoft have given preference to touch based interface. Windows 8 operating system is created to be used in tablets, mobiles and at the same time desktop pcs with keypad/mouse controller. For the same Microsoft and Nokia collaboratively worked on mobile platform. City lens is a new app which runs on windows 8 based mobile. Microsoft putting a bet through this product to compete with it counter parts in the mobile space. Based on this product Microsoft is trying to capture market.

2. A brief about new revolutionary augmented reality based Nokia City Lens app.

if you want to skip the following boring passage check this 2 min video Nokia City Lens Brief Click Here.
Nokia has announced a new location-based augmented reality application called 'Nokia City Lens', which allows users to look for places, get directions and reviews for the popular shops and restaurant. The application has been introduced for the Lumia Phones and other Nokia smart devices such as N8.

Using the camera's viewfinder, Nokia City Lens gives an augmented reality overlay view of buildings and instantly highlights places of interest. The app turns sight into the next interface for searching things around. The app then provides information about the building or landmark in the area, providing quick information about the restaurants, shops, and other places of interest. Nokia says the app saves a lot of time, as users do not need to perform web searches. Find out more details about the Nokia's augmented reality application here.

“Nokia City Lens is a unique, one-of-its kind augmented reality application from Nokia’s Location Service bouquet – it allows you to sense the world around you and discover places by simply holding up your smartphone instead of having to perform web searches. It’s simple, it’s spontaneous,” says V Ramnath, Director Sales, Nokia India.

courtesy thinkdigit

The Concept

Hospitality and retail sector are two very competitive market. Every restaurant and retail chain is trying to float through passive or active discounts. here is a list of following type of discounts available in the market.
Discounts

1. credit card direct discount
1. 5% discount on city bank, standard chartered credit card.
2. credit card silver, gold, platinum customer specific privilege discounts. As the card grade and annual fee increase the amount of discount too increase.
3. constrain discount. On purchase of 500 and above 3% discount. 1000 and above 8% discount.
2. redeem retail card points- Life style privilege inner circle, big bazzar and future groups, chroma and tata products, reliance fresh etc.
3. credit card and debit card redeem partners- payback (ICICI), my rewards program (hdfc).
4. sodexo
5. credit card privilege services like airport lounge facility and other such benefits.
6. online discount and deal websites like snapdeal, crazeal, dealandyou, timesdeal.
7. hdfc hold a very vast powerful base to provide emi option in the retail chain sector.
8. also an employee of tcs gets 2.5 percent benefits if they shop from any Tata Services.
9. sometime on weekdays few restaurants hold offers similarly on weekend resturants like dominos hold offers 1+1 pizza free.

Before making a quick purchase no one actually could calculate the best option with respect to the available retailer/restaurants in a certain location. so even though so many deals and discounts exist they are not actually serving their purpose to attract customer. it is always a random choice based on what comes on mind at that moment.

City lens customization could provide solution for the customer to choose the best offer available in a locality with respect to the cards they hold. it could be possible if a customer register his cards with the application. Then along with the pop up messages of restaurants/ retail chains on the screen the respective discounts too can be shown. The customized app can also auto calculate the redeem points, emi option benefits, direct purchase discounts and online discount voucher availability. Then match and compare various discounts and highlight the most preferable choice for the customer.

Elevator Pitch, Question & Answer format of the above explanation.

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1. Describe the market your idea will operate in or is operating in? How large is the market? How do you  see the market growing?  

Hospitality and retail sector are two very competitive market. Every restaurant and retail chain is trying to float through passive or active discounts. here is a list of following type of discounts available in the market.
Discounts

1. credit card direct discount
1. 5% discount on city bank, standard chartered credit card.
2. credit card silver, gold, platinum customer specific privilege discounts. As the card grade and annual fee increase the amount of discount too increase.
3. constrain discount. On purchase of 500 and above 3% discount. 1000 and above 8% discount.
2. redeem retail card points- Life style privilege inner circle, big bazzar and future groups, chroma and tata products, reliance fresh etc.
3. credit card and debit card redeem partners- payback (ICICI), my rewards program (hdfc).
4. sodexo
5. credit card privilege services like airport lounge facility and other such benefits.
6. online discount and deal websites like snapdeal, crazeal, dealandyou, timesdeal.
7. hdfc hold a very vast powerful base to provide emi option in the retail chain sector.
8. also an employee of tcs gets 2.5 percent benefits if they shop from any Tata Services.
9. sometime on weekdays few restaurants hold offers similarly on weekend resturants like dominos hold offers 1+1 pizza free.

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2. What impact do you  believe your idea will have on your defined market?

Market Watch
Using city lens customization we will also compel restaurants to join with discount channel partners (bank credit/debit cards, redeem points, online deal sites, retail chain inner circle etc). It will happen because of the reason that all the other restaurants around it will be giving discount.

This flow will help banks. This will create a more aware and competitive environment. Banks will compete to capture market by joining more restaurants. Restaurant will race by joining more discount/deal channels. the over all daily transaction between customers credit/debit cards-> restaurants-> banks will increase.
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3. Describe your product/service. How does (or will) it help the customer?

Before making a quick purchase no one actually could calculate the best option with respect to the available retailer/restaurants in a certain location. so even though so many deals and discounts exist they are not actually serving their purpose to attract customer. it is always a random choice based on what comes on mind at that moment.

City lens customization could provide solution for the customer to choose the best offer available in a locality with respect to the cards they hold. it could be possible if a customer register his cards with the application. Then along with the pop up messages of restaurants/ retail chains on the screen the respective discounts too can be shown. The customized app can also auto calculate the redeem points, emi option benefits, direct purchase discounts and online discount voucher availability. Then match and compare various discounts and highlight the most preferable choice for the customer.
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4. (a) How do you plan to sell/distribute your product/service?

abcd-software_company benefit

Apart from generating direct revenue by providing services to the banks and consumers. abcd-software_company will benefit indirectly by having so much of updated active user data which it could use by creating strategy for mortgage, warranty and other sector.
Also in this process abcd-software_company will become the point of interest for each bank in the country thus strengthen its client base. (my estimation)

abcd-software_company will provide info updating service to all the banks that will strengthen abcd-software_company customer base. Also abcd-software_company will hold a big database of consumer services bigger than just dial. This database will not only be big but also real time active. Just dial n Google have database but keeping it active is a big challenge. This data base could be used for consumer research. As abcd-software_company will have transaction details wrt each restaurant vs. bank vs. consumer vs. amount. The updating service will be two sided. 1. New hotel n services joining to a credit card or point channel. 2. Bank or pay back point updating their discount, terms n condition for a certain credit card, sector (hotel sector, gym sector etc.).

4. (b) How the app could be incorporate with ads for revenue generation?

1. direct ad selling
1. Any ad could pop in the bottom or top to lure the customers.
1. Credit card ads to tempt the customer to switch from silver to gold to platinum card.
2. Bank services add.
3. Crazeal deal on a certain restaurant.
4. Restaurant directed ads- a new introduction of a menu.

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5. Discuss your plan to convert the idea/concept to the actual product/service?

this concept have 3 tails. Bank, retail/restaurant and Customers. this idea could be created by a third party software company. It could also be funded by banks because the overall flow of customer and retail chains are ultimately going to benefit the banks.
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6. What are the next steps you  have in mind to take this business/ idea forward?

1. the type of card and its direct cash back on spending of 500/- or above to be gathered from bank site.
2. Sodexo partner restaurant list can be found from Sodexo site.
3. type of card and no of points added to redeem later need to be calculated from payback, my reward program sites.
4. credit card privilege services can be collected for respective sites.
5. snap deal data could be collected from its site.
6. “make my trip” hotel discount and travel discount could be collected from their site.
7. burp, zomanto and justeat can provide restaurant review and deals shown directly on the city lens lables.

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Basically this app have the potential to become a platform like google map and rest all the sites, banks, retailers could join and synchronize the data on top of it. it will help finance sector’s products direct selling and a marketing platform as well.

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