Reference no: EM132848388
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.
PESTLE analysis answers 6 key questions:
Political - What are the political factors that are likely to affect the business?
Economic - What are the economic factors that will affect the business?
Sociological - What cultural aspects likely to affect the business?
Technological - What technological changes that may affect the business?
Legal - What current and impending legislation that will affect the business?
Environmental- What are the environmental considerations that may affect the business?
Porters Five Forces
1. Supplier power?
2. Buyer power?
3. Competitive rivalry?
4. Threat of substitution?
5. Threat of new entry?