After having completed an in-depth analysis for one of my potential competitors, I see that it may be harder for my idea to achieve success than I initially thought. Although I am not completely discouraged, this assignment definitely put things into perspective. OpenTable is perhaps my biggest competitor as it offers the ability to make reservations, see which restaurants have no wait times, and even order for takeout or delivery. Additional features of OpenTable include the ability to see parking options, dress code, and Covid safety precautions. This app is not specifically geared towards college students, so I believe that this is where my idea can stand out.
I would like to integrate all of these features into my app, but I believe there are ways to improve it. For example, I would make the app itself a lot more intuitive to use. OpenTable has been around for over 20 years, but their app isn’t the most user-friendly. I believe that a better and more eye-catching design would help my idea stand out. Also, an app geared towards city students would give my idea a unique value. The only way that OpenTable targets students is by allowing them to reserve tables in campus dining halls. In addition, there is no way to see if there is a current line outside the restaurant. Although there are ways to see how long a takeout/delivery order would take, there is no way to see the wait time if one were just to walk in. OpenTable has a competitive advantage because of the wide array of features they have. Another advantage is that many restaurants already use it to manage their reservations and they may be hesitant to switch. By offering a cheaper price, my idea may stand out, and perhaps I could convince restaurants would switch.
I will pursue a similar value proposition, but I will target my idea specifically towards city students. This is an area where OpenTable falls short and it is an area where my idea can shine. I would include all of these features but also include additional ones like “end-of-the-day” deals. This would limit food waste, give students cheaper options, and also let restaurants make some money on food that would have been thrown out. Because there are so many features, making an easy-to-use solution is key. OpenTable struggles in this area as well, so I will need to find a way to make the solution intuitive and simple.
It may not be a good idea to move forward with my idea because OpenTable is already a very established and popular solution used by both restaurants and diners alike. Many people use it to reserve a table and they get all of the restaurant’s information in one place. It will be hard to convince the public to switch to a less-known solution.
