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

2. October 22, 2008Business Internode Network2 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

3. October 22, 2008Business Internode Network3 Organizational Hierarchy

4. 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 October 22, 2008Business Internode Network4

5. October 22, 2008Business Internode Network5 The Problem  Maximum revenue not being realized by metropolitan businesses due to lack of effective business-to-business and business-to-government communication/coordination

6. October 22, 2008Business Internode Network6 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

7. October 22, 2008Business Internode Network7 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

8. October 22, 2008Business Internode Network8 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

9. October 22, 2008Business Internode Network9 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

10. Current Solutions  Provide communication from business to its customers Local event websites – www.hamptonroads.com www.hamptonroads.com Conventional advertising – print, radio, TV  Business district coordination Consulting firms  No current solutions providing business- to-business coordination October 22, 2008Business Internode Network10

11. October 22, 2008Business Internode Network11 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

12. October 22, 2008Business Internode Network12 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?

13. October 22, 2008Business Internode Network13 Business A: Has event to promote Event info entered into BIN Business B: Decides to add special offer related to event Business 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

14. Real Life Example October 22, 2008Business Internode Network14 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 event event posted in BIN Website updates 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

15. October 22, 2008Business Internode Network15 Operational Overview

16. October 22, 2008Business Internode Network16 Items Included  Software Software to manage the database Website interface for tourists Application interface for businesses  Hardware Web Server Database Server Kiosks

17. Items Not Included  Internet connectivity  Desktop to run BIN database interface application October 22, 2008Business Internode Network17

18. October 22, 2008Business Internode Network18 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

19. October 22, 2008Business Internode Network19 Customers  Market for solution Local Government Businesses located in metropolitan areas

20. October 22, 2008Business Internode Network20 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

21. October 22, 2008Business Internode Network21 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=3http://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

22. October 22, 2008Business Internode Network22 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 XXXX Provide Multiple Establishment Marketing X X Facilitate Inter-business Communication X Facilitate Business-Government Communication XX Provide Historical Information X

23. October 22, 2008Business Internode Network23 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 XX 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) XX Planning Assistance X X

24. October 22, 2008Business Internode Network24 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?

25. October 22, 2008Business Internode Network25 Impact of Risks

26. 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 October 22, 2008Business Internode Network26

27. October 22, 2008Business Internode Network27 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

28. October 22, 2008Business Internode Network28 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

29. October 22, 2008Business Internode Network29 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

30. October 22, 2008Business Internode Network30 References  35 th Annual Virginia Beach Neptune Festival (2008) http://www.neptunefestival.com/about_us_facts.php 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 Locals http://hamptonroads.com/2008/06/virginia-beach-rolling-out-new- tourism-campaign-locals?page=3