igps anuj khosla alec nicholas siddharth parmar neil shah
TRANSCRIPT
iGPS
Anuj KhoslaAlec NicholasSiddharth ParmarNeil Shah
Project Idea
Ease of use, quick results, convenience
Automatic or manual address recognition of destination in text message
Manual selection of show time or food criteria
Display of latest suggested departure, suggested movies and restaurants based on reviews
Automatic calculation of route based on movie show times, restaurant hours, current location, fuel, minimum distance and time
Information sent to car’s GPS system
Automatic recalculation of movie theater dependent on location and show time
Information Interaction
Smart phone with internet connection
Connection with websites (Yelp, Fandango, etc.)
Synchronization with car’s GPS navigation system and computer (fuel calculation)
Fitting the Mini Brand
Unique functionality Makes GPS more intelligent Interaction between user and application
via suggestions. Sustainable driving dynamics
Saves gas, valuable time and is less distracting
Customization Automatic vs. manual selection,
selection of different categories
Hip, Young, and Cool?
Target Market The target market of our application includes young,
trendy up and coming individuals who would like better integration of their mobile device with their vehicle. We aim to target individuals from the age group 20 to 35.
Marketing and Sales The application will be sold on the iPhone market for a
fee of $5. Estimated US Sales for 2008 based on June 2002 Selling
of 6000 minis (based on USA Today article “BMW's mighty Mini may have many faces” dated 8/12/2002: 70000
Estimated US sales for at least 6 years: 420,000
Worldwide Sales for last 6 years: 1 million Estimated Mini Users Worldwide Estimate
Reducing Non-potential buyers of application: 500,000
Estimated Sales = $2.5 million
Development Costs:
Estimated time required to code software: 6 months.
6 months x 4 weeks x 40 hours/wk x $25 = $24,000
Estimated Costs with two software engineers: $48,000
Research and Development Costs: $2,000 Other Expenses Incurred: $5,000 Total Start-up Cost: $55,000-$60,000 The above is a very rough estimate and is an
overly conservative estimate of costs. We expect for that for the development of such a software-based product, start-up costs would be even less.
Questions?
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