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Entrepreneurial Challenge (page 289): BUILD YOUR OWN BUSINESS. You will complete these assignments for each chapter throughout the semester and put together a final report at the end of the semester which will serve as part of your final.
Write an analysis addressing ONE OF the following:
- In an effort to connect better with younger consumers, McDonaldâ€™s restaurants in southern California are enticing customers through their mobile phones, offering mobile coupons for a free McFlurry. Under the promotion, customers text the message â€œMcFlurryâ€ to a five-digit short code promotional phone line. An electronic coupon for the free dessert is then downloaded to their mobile phones; when consumers bring those phones to participating restaurants, they can redeem the coupon electronically. Mobile coupons (mcoupons) that are stored and carried in a mobile phone have higher redemption rates than paper or ecoupons because they are not forgotten or left at home. Mcoupons can drastically reduce delivery and redemption cost, trigger impulse buys, and send offers to customers in real time that are locations based. Your customers are mobile, and you want your business to take advantage of mobile technology, so you have decided to create an innovative system for mcoupons, allowing customers to capitalize on instant redemption coupons. As customers walk past your business (or within 25-foot radius) a coupon will be pushed to their mobile device. As you prepare to deploy this new mobile marketing campaign, you need to create a detailed analysis of mcoupons, including all of the potential risks and benefits. In your analysis, be sure to discuss the types of coupons you would offer to your mobile customers along with all of the potential risks and benefits.
- Radio-frequency identification technologies use active or passive tags in the form of chips or smart labels that can store unique identifiers and relay this information to readers. RFID tags represent the next big step forward from bar codes, and retailers are using RFID to control theft, increase efficiency, and improve demand planning. Businesses are using RFID for everything, including preventing toilets from overflowing, refilling customerâ€™s drinks, identifying human remains, and combating counterfeit drugs. Develop two new products using RFID that can help you reduce expenses, increase profits, and create a competitive advantage for your business.
Instructions for your submission:
- Open the Word document from your previous submission:”Entrepreneurial Challenge-YourName”.
- You will be using this document throughout the semester.
- Make any requested changes from feedback received in previous weeks
- Add a bold heading titled: Chapter 7: Mobile Business Technologies
- Follow the formatting requirements below
- Be sure your analysis is clear and organized.
- Change the Footer on the Word document to: Left (Your Name), Middle (Page number), Right (semester, year).
- Submit “Entrepreneurial Challenge-YourName” prior to the due date and time.
- Times New Roman, 12 point font
- One-inch margins (indent first line of paragraphs 1/2-inch)
- Double spaced (no extra spacing before or after paragraphs)
- Correct spelling and punctuation
- Complete sentences