Capstone – Project

24. Develop a mobile application strategy, feature set, and business plan

A Collaboration Between

Engagement Synopsis

ReserveBar.com, the leading e-commerce platform for luxury spirits in the U.S. is looking to expand its tech platforms to include a mobile application for iOS and Android devices.

This is a real business initial on our tech roadmap for launch of an MVP version in Q3 of 2021.

We’re looking for a team to help us define the strategy, feature set, consumer benefits, and business plan, including expectations for installs, usage, and associate revenue.

The project will activate a significant variety of business disciplines in order to yield a solid executive recommendation that considers the competitive market, the consumer, the current business and tech infrastructure, and the associated investment and expected ROI.

Company Information

CompanyReserveBar LLC
HQConnecticut
Revenue10,000,000 - 50,000,000,
Employees25-50
StageMedium Business
Hiring PotentialFollow-on Projects, Formal Internship, Entry Level Full-Time
Websitehttps://www.reservebar.com

Company Overview

ReserveBar (www.reservebar.com) is the leading e-commerce platform for luxury spirits and champagne in the U.S. We enable consumers (as well as companies) to order the most esteemed bottles of alcohol in the world with the convenience of shipping across the United States for both self-consumption and gifting. The delivered beverage alcohol segment of the industry is in the earliest stage of growth. Currently, 50% of all alcohol is sold off-premise, and only 1.8% of sales is fulfilled via e-commerce and delivery or shipment. By way of comparison, over 14% of retail sales involve e-commerce and delivery, and off-premise dining and flowers are well over 20%. ReserveBar is close to closing an acquisition that will increase it's size significantly, while adding retail distribution with on-demand fulfillment ability (i.e. under and hour vs. shipment), and a more robust tech stack including an app. This is truly an exciting category poised for explosive growth!

Industry Mentors

Company Admin

 

[email protected]

Course Info & Engagement Details

SchoolMasters in Business Administration (MBA)
Engagement Format -
CourseMBA Interterm (SPRING 2021)
LevelGraduate
Students Enrolled120 enrolled, 3-5 students per team per project
Meeting Day & Time3/22-25/2021
Student Time Commitment30+ Hours Per Week
Company Time Commitment5+ Hours
Duration0.43 Weeks

Project Topics

Academic Mentors

There are currently no supervisors assigned.

Assigned Students

Student

Jacob Albert

[email protected]

Student

Kyle Grba

[email protected]

Student

Kathleen Kelly

[email protected]

Student

Catherine Riedman

[email protected]

Student

James Slattery

[email protected]

Program Timeline

Touchpoints & Assignments Due Date Submission
OFFICIAL PROJECT KICKOFF

OFFICIAL PROJECT KICKOFF

Each company will provide a web conference link and time for scheduled kickoff meeting
March 22 Event na
PROJECT COMPLETE: UPLOAD FINAL DELIVERABLES PROJECT COMPLETE: UPLOAD FINAL DELIVERABLES
Please upload your final presentations and/or any final reports you delivered to the company.
March 25 Submission Required submission-required
Final PEER Evaluation Due

Final PEER Evaluation Due

March 28 Event na
Final SELF Evaluation Due

Final SELF Evaluation Due

March 28 Event na
Temperature Check #1 Due by 5:00 PM ET

Temperature Check #1 Due by 5:00 PM ET

March 22 Event na
Temperature Check #2 Due by 5:00 PM ET

Temperature Check #2 Due by 5:00 PM ET

March 23 Event na
UPLOAD STATEMENT OF CONFIDENTIALITY UPLOAD STATEMENT OF CONFIDENTIALITY
During this program, you'll be working on a real project posed by a real industry partner. Please download, sign, and then upload the Statement of Confidentiality. If your industry partner requires an additional NDA, that will be loaded as a Project Resources
March 20 Submission Required submission-required
Final Interterm Feedback Survey

Final Interterm Feedback Survey

March 28 Event na

Key Milestones & Project Process

  • March 23, 2021 - Deep-dive research to explore and refine the ideas for the mobile app into a solid basis for an application.

    • Analyze demographics, motivations, behavior patterns and goals of ReserveBar’s buyer persona.
    • What does a detailed study of competitor’s apps reveal about the ways in which customers are acquired, converted, retained and their loyalty nurtured?
    • What features are currently offered on ReserveBar’s website? What features, attributes, functions could a ReserveBar app offer that:
      • Customers would perceive as more desirable than going to the website?
      • Would help ReserveBar achieve its goals for the app?

    Suggested Deliverable:

    Market research report.

  • March 24, 2021 - Specifying and prioritizing features and attributes of the mobile app

    • How will the customer use this digital product?
    • What features and attributes do you recommend to be included in the app?
    • How do these features and attributes add value to customers?
    • How will these features and functions promote ongoing engagement with the customer? Community- building? Reach?
    • How is this likely to enhance repeat business and shopping/sales volume?
    • What is the revenue potential of these features and attributes?
    • How would you prioritize these features and attributes based upon their functions and values?

    Suggested Deliverable:

    Backlog of features, associated benefits of those features, and priority ranking.

  • March 25, 2021 - Refine and describe how your proposed features and ideas will fuse together into a functional app.

    Wireframing:

    • Draw out detailed sketches of the envisioned product.
    • Identify and address usability issues and technical limitations in the back-end development process.
    • Keep in mind users’ perspectives and the differences in the way people use a mobile app versus a mobile website.
    • Recognize and seize opportunities for incorporating ReserveBar’s brand.
    • What type of phased approach is best suited for the building this app? What are your recommendations for building the different segments of that agile process and developing the sprints?

    Suggested Deliverable:

    Business plan and presentation which will be heavily used to inform a briefing document provided to an external tech company contracted to build the app.:

    • Road map (and presentation) to demonstrate the relationship between each screen and how the users will navigate through the app.
    • Recommended approach to developing the proposed mobile app
    • Expectations for installs, usage, and associate revenue.

Project Resources

There are no resources currently available