Business Internode Network (BIN) Steve Simmons Bruce Modes Russell Pratt Tyler Wood Andrew Miller Robert Bittle Kevin Tindall Dominic Eldridge

Business Internode Network (BIN)

Steve SimmonsBruce ModesRussell PrattTyler Wood

Andrew MillerRobert BittleKevin Tindall

Dominic Eldridge

October 22, 2008 Business Internode Network 2

Outline Introduction - our team Problem

The problem we intend to address Introduction to our solution Problem characteristics

Current solution process flow/problems Our solution and new process flow Market for solution and competition Project risks and issues Conclusion Q & A


Organizational Hierarchy

Team Management and Communications Collaboration Tools

Google Apps Google Groups – forum for idea sharing Google Talk – weekly online meetings Google Docs – presentation construction

Task Assignments Updated at end of each class Email used for changes/updates



The Problem Maximum revenue not being realized by

metropolitan businesses due to lack of effective business-to-business and business-to-government communication/coordination


Solution Goals The Business Internode Network(BIN) will:

Provide a forum for business-to-business communication

Help increase revenue for all participating businesses

Provide an easy to use front end system for tourists, business people, and locals

Retain information on previous events, allowing them to be more easily coordinated in the future


Problem Effects Businesses miss opportunities to connect

with potential customers Maximum revenue not realized Less tax revenue for local government

Uncoordinated metropolitan areas seem less vibrant Less appeal to customers “Hot Spot” status is diminished


Coordination Works Local example: Neptune Festival (2008)

Attracts 500,000 people each year to boardwalk

Generates economic impact of $18 million for Virginia Beach

Returns over $500,000 in direct taxes to the city

One out of three local residents attend events

Source: http://www.neptunefestival.com/about_us_facts.php


Encouraging Tourism Is Vital Providing events to attract tourists vital to areas

like Virginia Beach 2007 visitor spending generated over $78 million in

taxes, responsible for 11,000 jobs Each extra $1 million spent provides:

Approximately 17 jobs in Virginia Beach Almost $400,000 in additional earnings for local business

owners

Source: Yochum, Gilbert R., & Agarwal, Vinod B. (2008) 2007 Virginia Beach Tourism Economic Impact Study

Current Solutions Provide communication from business to

its customers Local event websites –

www.hamptonroads.com Conventional advertising – print, radio, TV

Business district coordination Consulting firms

No current solutions providing business-to-business coordination



Business A: Has event to

promote

Media advertisements

purchased

Information added to local

websites

Customers learn about event and

attend

Business B

Business C

Business D

Business E

Nearby businesses unaware of event

Current System Flow


Issues With Current Solutions Does not provide for easily coordinated

marketing and promotional deals among individual businesses

Information provided for entire region, not broken down to individual business districts

Why can’t every weekend be a well coordinated event?


Business A: Has event to

promote

Event info entered into

BIN

Business B:Decides to add special offer related

to eventBusiness C:Decides to add special offer related

to event

Website accesses BIN database to display

up to date event info

Business patrons search local events, are presented with

both event and related special offers

Process Flow Using BIN

Event Alerts

Real Life Example


Business A: Has a symphony

performance to promote

BIN

Business B: Decides to add wine tasting

special offer for symphony ticket

holders

event entered into BIN

sees Business A’s eventevent posted in BIN

Websiteupdates

Patron A: Searches for events on website, finds

symphony concert, but is also presented

details on dinner special

Patron B: Looks at restaurants on website, and is advised of

symphony concert as well


Operational Overview


Items Included Software

Software to manage the database Website interface for tourists Application interface for businesses

Hardware Web Server Database Server Kiosks

Items Not Included Internet connectivity Desktop to run BIN database interface

application



Functions Not Performed by BIN Our solution will not:

Provide active marketing Traditional advertising needed to inform public of

system and what it provides Provide communication path from business

patron to the business Reservations Tickets


Customers Market for solution

Local Government Businesses located in metropolitan areas


Size of Market Solution could be used in any metropolitan

area in the country Local examples:

Virginia Beach Town Center Granby street in Norfolk Waterside

Nationally Business areas near theme parks Nightlife area of any city’s downtown business district


Customer Profile Virginia Beach

Recently spent $150,000 on “Gift of Tourism” ad campaign

Virginia Beach 2007 spending Almost $67 million in tourism related expenditures to

attract new and repeat visitors/provide additional services to locals

Tourism related expenditures in 2007 provided 17.7% net return on investment

Sources: http://hamptonroads.com/2008/06/virginia-beach-rolling-out-new-tourism-campaign-locals?page=3

Yochum, Gilbert R., & Agarwal, Vinod B. (2008) 2007 Virginia Beach Tourism Economic Impact Study


Competition - Business Perspective

Business Aspect Individual Advertisement

(TV, radio, newspaper,

fliers)

Community Websites (i.e.

hamptonroads.com) Consulting Firms

Business Internode Network

Provide Individual Establishment Marketing X X X X

Provide Multiple Establishment Marketing X X

Facilitate Inter-business Communication X

Facilitate Business-Government Communication

X X

Provide Historical Information X


Competition - Patron Perspective

Patron Aspect Individual Advertisement

(TV, radio, newspaper,

fliers)

Community Websites (i.e.

hamptonroads.com) Consulting Firms

Business Internode Network

Disseminate Individual Establishment Information to Patrons

X X X

Disseminate Multiple Establishment Information to Patrons

X X

Real-Time Accuracy X

On Location Access X

Scope of Information (City Block vs. Entire City)

X X

Planning Assistance X X


Risks Misuse of information - What if businesses use the

information to undermine a competitor? Companies not cooperating - For this to work,

companies must agree to cooperate with each other.

Competition - There are already many consultant organizations to advise the growth of businesses.

Inaccurate Information - How will we gather this information accurately? How will we make sure this information is reliable and always up-to-date?


Impact of Risks

Technical/Resource Issues Technical

Security Data accuracy Data storage and backup

Resource Government infrastructure to maintain

server/database Lobbying power of government to bring

businesses on board



Pros Business patrons given up to date

information on events in area Provides communication path between

businesses to easily plan interdependent events/complementary services

Businesses profit by taking advantage of other local events


Cons Depends on businesses using the system

to be successful May be thought of as only an extension of

current event site such as www.hamptonroads.com

Requires businesses to adapt to using a new system


Conclusion Providing easy to use system for event

coordination, business-to-business communication, and cooperative marketing could help improve business/tax revenues

Customers in current market already spending money to improve business

Major technical issues can be addressed by well thought out design

Solution can take advantage of already available technologies


References 35th Annual Virginia Beach Neptune Festival (2008)

http://www.neptunefestival.com/about_us_facts.php Yochum, Gilbert R., & Agarwal, Vinod B. (2008) 2007 Virginia

Beach Tourism Economic Impact Study Quinn, Richard (2008) Virginia Beach Rolling Out New Ad

Campaign - For Localshttp://hamptonroads.com/2008/06/virginia-beach-rolling-out-new-tourism-campaign-locals?page=3

Documents

Business Internode Network (BIN) Steve Simmons Bruce Modes Russell Pratt Tyler Wood Andrew Miller Robert Bittle Kevin Tindall Dominic Eldridge