Assignment Due 4/11 POWER POINT & 5 PAGE PAPER

New idea

Name: Virtual Valet

Virtual valet is a portable parking garage vending machine such as caravan but its portable. The garage will travel with big events such as concerts, fairs, festivals, inaugurations and so on. The purpose of virtual valet is to maximize parking space, decrease theft, make valet 10 time easier, faster and convenient.

How does it work

Customer will reserve their parking spot with an app. Once the customer arrives to their destination, they will drive their car up to the virtual valet (vending machine) and treat it as if they are going into a car wash. They will leave their car in neutral and hand their keys to the worker. Customer either have a chose to walk or use our transportation service to get from the parking area to their events. Once their event is done the customer can order their car to be ready from the app. Once they get back to the parking area the app will show exactly where their car is located and then they can be on their way.

Write 5 pages minimum in APA format on the following concepts below.

Also do a PowerPoint APA format

1. PESTLE Analysis.

2. Porters Five Forces Analysis.

PESTLE Analysis

Political Factors

- Parking regulations/laws - Funding, grants and initiatives - Permitting - Lobbying and pressure groups - valet service licensing?? Although automated - Wars, terrorism and conflicts - Parking Codes Chapter 39 article IV 39.12 - Elections and political trends and ordinances

The Parking Division is a self-supported enterprise fund that operates, maintains and repairs parking facilities in the City. It operates 10 parking garages with 8,527 parking spaces, 400 surface lot spaces and 1,000 metered spaces. The Division enforces Chapter 39 of the City’s Municipal Code by issuing parking citations and immobilizing vehicles. The Division also provides full administration and financial accounting for the LYMMO downtown transit circulator

Economic Factors

- Inflation - people will still go out and pay - Interest - business taxes - Economy trends – there are always fluctuations but this innovates and updates parking garages - Seasonality issues - inclement weather in different regions of the country - Industry growth - bike taxi owners provided with steady work - Import/export ratio - will have to import parking product - International trade international fees and rates for app when international

Social Factors

- Demographics rural area’s may not have the same access to apps - Media views of the industry - Work ethic people with a excellent work ethic will help with positive growth, - Brand, company, technology image low work ethic may cause issues with working well with others - Lifestyle trends reduce parking lot accidents, pollution - Cultural Taboos - Consumer attitudes and opinions - Consumer buying patterns—people love apps and app services that cater to them, uber eats, etc - Ethical issues - Consumer role models - Major events and influences-- will create the business need and operations along with w/e time out - Buying access and trends - Advertising and publicity - the event publicizes the parking, facebook, Instagram, google

Technological Factors??????

Legal Factors

Current legislation maximum height allotted for a portable parking valet service regulation? Insurance for bike tax

Environmental Factors

Environmental regulations - Ecological regulations not providing services that increase or provide pollution - Reduction of carbon footprint - - Sustainability—will help the environment with reduction of carbon emissions from vehicles - Impact of adverse weather - inclement weather will reduce business due to people staying home

Porters Five Forces 

1. Supplier power?

Powerful suppliers know that virtual valet will solve many things, especially in terms of safety. Of course, virtual valet is an electronic gadget and so it will need accessories. The suppliers can team up and sell those accessories at a high very price.

2. Buyer power?

The buyers of this technology will want at the minimum price, yet the owner of virtual valet will be under immense pressure from the suppliers who will be charging exorbitant

3. Competitive rivalry?

Many people will very soon start off providing solutions like these, and so the rivalry will be on another level. This will pose a serious threat to Virtual valet

4. Threat of substitution?

There will be other solution providers not exactly what virtual valets will do but providing a similar solution

5. Threat of new entry?

New entries will obviously come in as times goes by.