Difference between revisions of "Team:Macquarie Australia/Entrepreneurship"

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<center> <h2> <b> 1. Customer Discovery – Has the team interviewed a representative number of potential customers for the technology and clearly communicated what they learned? </b> </h2> </center>
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<center> <h2> <b> Customer Discovery </b> </h2> </center>
 
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It’s an undeniable, yet oft overlooked truth that no business venture can be successful without customers. As such, our team conducted extensive market research when designing our prototype to discover exactly who our target customers are and what they want, tailoring our offering to meet their needs.
 
It’s an undeniable, yet oft overlooked truth that no business venture can be successful without customers. As such, our team conducted extensive market research when designing our prototype to discover exactly who our target customers are and what they want, tailoring our offering to meet their needs.
 
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Our first step in this process involved conducting an online survey that was completed by over 150 respondents across multiple age brackets and geographic locations within Australia. This survey was designed to give us insight into our potential consumers’ perceptions around renewable energy and what sort of product might appeal to the Australian market. A statistical analysis of the results was performed and yielded some extremely useful information.
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Our first step in this process involved conducting an online survey that was completed by over 150 respondents across multiple age brackets and geographic locations within Australia. This survey was designed to give us insight into our potential consumers’ perceptions around renewable energy and what sort of product might appeal to the Australian market. A statistical analysis of the results was performed and yielded some extremely useful information:
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The second stage of our market research involved conducting face-to-face interviews with a sample of 40 different individuals chosen deliberately as a representative cross section cross-section of our target market. The questions asked were specifically constructed to guide our design of the refuelling station (what features to include/exclude) as well as our pricing, promotion and distribution strategies.
 
The second stage of our market research involved conducting face-to-face interviews with a sample of 40 different individuals chosen deliberately as a representative cross section cross-section of our target market. The questions asked were specifically constructed to guide our design of the refuelling station (what features to include/exclude) as well as our pricing, promotion and distribution strategies.
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<center> <h2> <b> Customer Needs </b> </h2> </center>
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What are your main concerns about the future of Australia in terms of sustainability, energy security and climate change?
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Conclusion: Our customers are very concerned about the long-term impacts of climate change and reliance on fossil fuels. They want the empowerment to be a part of the solution by taking their own actions.
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What would convince you to consider purchasing a hydrogen-powered car in the near future?
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Conclusion: Our customers are motivated by sustainability, durability, affordability, safety and convenience. These need to be our major selling points.
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If you were to buy a hydrogen-powered car in the future, would you be more likely to purchase a home hydrogen fuel cell/generator as a combination with the car (i.e. the car and cell both sold to you as a package by the car manufacturer) or from a third-party seller after buying the car?
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Conclusion: Selling the refuelling station as a bundle with the car would be the best distribution model for us to use.
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What would be your primary concerns that would stop you from purchasing a home hydrogen fuel cell (if you owned a hydrogen-powered car)?
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Conclusion: Our promotion strategy should focus on reducing cognitive dissonance, reassuring customers that our refuelling station is safe, trustworthy, time-efficient and sleek.
  
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<center> <h2> <b> Prototype </b> </h2> </center>
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Our product prototype, the H2GEM, is an at-home refuelling station for hydrogen powered vehicles. We have chosen this as our prototype for several reasons, dictated by our market analysis, survey results, interview results and research on the current hydrogen energy landscape in Australia:
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• There is strong consumer interest in sustainability, climate change, renewable energy sources and the desire to take the power to make a difference out of the government’s hands and into the consumers’
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• A significant majority of household owners express a desire to generate their own renewable energy, rather than purchase it pre-made from a company
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• While currently small, the demand for hydrogen-powered vehicles in Australia is expected to grow steadily over the next decade as infrastructure improves and costs are reduced
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• There are already several companies that sell hydrogen for various energy purposes (transportation, stationary power, etc) but no competitors currently exist for at-home refuelling stations, making this a novelty product
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• Our team lacks the necessary capital and distribution channels to produce hydrogen gas and sell it directly to consumers, nor would we be able to compete with the existing companies scale-wise
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Revision as of 07:14, 24 October 2017



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Overview


Click here for full business plan!


We are living in a world of extremes. Temperatures are soaring. Sea levels are rising. Population growth is exploding. Non-renewable resources are dwindling. Our planet is facing the biggest environmental crisis in known history and what’s worse, we are running out of time to turn it around.


“Climate change is intrinsically linked to public health, food and water security, migration, peace, and security. It is a moral issue. It is an issue of social justice, human rights and fundamental ethics. We have a profound responsibility to the fragile web of life on this Earth, and to this generation and those that will follow.” – United Nations Secretary-General Ban Ki-moon


The transport industry is one of the biggest contributors to greenhouse gas emissions, responsible for a whopping 27% of emissions in 2015 in the US. Attempts to convert to renewable fuel sources have shown promise with solar and electric vehicles entering the market. However, levels of customer adoption have remained disappointingly low due to the high cost, poor efficiency and inconvenience of most alternative fuels. Governments have taken little action to build the supporting infrastructure necessary, leaving consumers with little choice but to resort to traditional fuel. Some that claim to be ‘green’ are not actually green at all, either – most methods of hydrogen production, for example, require fossil fuels!


WHAT’S THE SOLUTION?


A zero-emission energy source, produced with zero fossil fuels. No, this isn’t some pipe dream or wishful thinking. It’s H2GEM.

H2ydrogem’s revolutionary at-home refuelling station uses no harmful chemicals or pollutants, just modified e-coli and glucose. That’s it. No fossil fuels, fancy or expensive technology required. Pure hydrogen fuel produced on demand in your own garage, 24/7. As Australians make the switch to hydrogen-powered vehicles over the next two decades, H2GEM will be there to meet the demand for convenient, sustainable hydrogen fuel. We are putting the power to change the world back into the consumers’ hands, literally.



H2YDROGEM's MISSION

  • To empower everyday Australians to sustainably and affordably power their own hydrogen vehicles.
  • Change the world (OK, maybe this one’s a little lofty…but as the saying goes, a journey of a thousand miles begins with a single step, right?)








Customer Discovery


It’s an undeniable, yet oft overlooked truth that no business venture can be successful without customers. As such, our team conducted extensive market research when designing our prototype to discover exactly who our target customers are and what they want, tailoring our offering to meet their needs.

Our first step in this process involved conducting an online survey that was completed by over 150 respondents across multiple age brackets and geographic locations within Australia. This survey was designed to give us insight into our potential consumers’ perceptions around renewable energy and what sort of product might appeal to the Australian market. A statistical analysis of the results was performed and yielded some extremely useful information:

The second stage of our market research involved conducting face-to-face interviews with a sample of 40 different individuals chosen deliberately as a representative cross section cross-section of our target market. The questions asked were specifically constructed to guide our design of the refuelling station (what features to include/exclude) as well as our pricing, promotion and distribution strategies.



Customer Needs


What are your main concerns about the future of Australia in terms of sustainability, energy security and climate change? Conclusion: Our customers are very concerned about the long-term impacts of climate change and reliance on fossil fuels. They want the empowerment to be a part of the solution by taking their own actions.

What would convince you to consider purchasing a hydrogen-powered car in the near future? Conclusion: Our customers are motivated by sustainability, durability, affordability, safety and convenience. These need to be our major selling points.

If you were to buy a hydrogen-powered car in the future, would you be more likely to purchase a home hydrogen fuel cell/generator as a combination with the car (i.e. the car and cell both sold to you as a package by the car manufacturer) or from a third-party seller after buying the car? Conclusion: Selling the refuelling station as a bundle with the car would be the best distribution model for us to use.

What would be your primary concerns that would stop you from purchasing a home hydrogen fuel cell (if you owned a hydrogen-powered car)? Conclusion: Our promotion strategy should focus on reducing cognitive dissonance, reassuring customers that our refuelling station is safe, trustworthy, time-efficient and sleek.



Prototype


Our product prototype, the H2GEM, is an at-home refuelling station for hydrogen powered vehicles. We have chosen this as our prototype for several reasons, dictated by our market analysis, survey results, interview results and research on the current hydrogen energy landscape in Australia: • There is strong consumer interest in sustainability, climate change, renewable energy sources and the desire to take the power to make a difference out of the government’s hands and into the consumers’ • A significant majority of household owners express a desire to generate their own renewable energy, rather than purchase it pre-made from a company • While currently small, the demand for hydrogen-powered vehicles in Australia is expected to grow steadily over the next decade as infrastructure improves and costs are reduced • There are already several companies that sell hydrogen for various energy purposes (transportation, stationary power, etc) but no competitors currently exist for at-home refuelling stations, making this a novelty product • Our team lacks the necessary capital and distribution channels to produce hydrogen gas and sell it directly to consumers, nor would we be able to compete with the existing companies scale-wise