BUSI3018

Entrepreneurship Management and Business Practices

PHASE 1-Business Concept

Prepared for:

Instructor: Neal Alleyne

Prepared by:

Jesurun Mohammed 68640

Glacier Ramkissoon 74665
Teshant Manoo 73621

Submitted on 13th February 2020

The Smart Shopping Device is an instrument that attaches to shopping carts to improve consumers’
shopping experience. Its operation is two-fold, firstly it contains a scanner conveniently placed to
allow consumers self-scan items easily and a screen to display the total price. Secondly, this screen
accommodates ‘Ad space’ which allows companies or the retailer to advertise special offers directly
to consumers and can include a feature to advertise specific goods in relation to the consumers’
position in the store.

The customers for this product will include retail owners and grocery items manufacturers who seek
to advertise their products on the device screen to better catch the eye of grocery customers.
Additionally, it fulfils the need for supermarkets to optimize their cashing process to reduce
congestion during peak times. Certain key supermarkets (such as Harris Megastore and Persads the
Food King) have multiple branches around the country. Partnering with these businesses can
encourage future growth since this technology can more easily spread to other outlets of the same
brand.

The main customer need is to provide a more efficient personalized approach to consumer service.
Our product will provide real-time information on the products (such as expiration dates), pricing
and special offers (bundling items, discounts or new variety of items in stock). Apart from offering a
personalized consumer experience, it also values consumers’ time. Hence, at the entrance of the
supermarket, the consumer will be prompted on any new deals or offers. This will provide our
customers with an increase in sales.

The target market size for this venture is approximately 13 supermarkets which are operating within
the Princes Town area. There are two main targeted supermarkets which are Harris Megastore and
Persads the Food King which would be targeted first. The companies that would be preferentially
targeted for advertisements would be those that supply the necessities for common households,
which are typically, beverages, food and hygienic items. The major companies that would be
contacted are Alston’s Marketing Company Limited (AMCO), The Coca-Cola Company, Johnson &
Johnson, Hand Arnold Trinidad Limited and Massy Distribution.

This device significantly improves consumer’s shopping experience by expediting the cashing
process through its self-service aspect. More importantly, the use of targeted advertisements while
shopping is an untapped niche which this device provides. This feature can allow retailers to direct
the general behavior of customers to their benefit and gives advertisers a substantial edge over more
traditional forms of advertisement.