Everyscape Profile

Everyscape Profile вЂ" The Real World. Online.

Everyscape was founded in 2002 in Waltham Massachusetts by Mok Oh and Jim Schoonmaker. In 2007 Jeff Brandes joined the team to provide business development experience in order to expand Everyscape to its full potential. Everyscape provides its users with virtual tours in various cities through its patented Hypermedia Technology Platform. This technology allows anyone with a camera and GPS to contribute by geo-referencing photos that can be uploaded to Everyscape to provide a virtual tour of a location both inside and outside. The purpose of this memorandum is to provide a new venture profile on Everyscape, paying special attention to the strengths and weaknesses as well as opportunities and threats among other issues.

Everyscape has entered the industry of virtual tourism; this industry and Everyscape are both in the growth stage. Everyscape’s product is not in the embryonic stage since it has gone past the idea stage and is already a usable product. This industry is still in infancy and growing, therefore there is a lot of opportunity to still be explored such as further expanding the technology and scope of the industry. The challenges of this industry mostly involve the cost of start up and development of the software, but also include the challenge of getting the product out in the open and to the target market. However this can be overcome with some strategic marketing. The challenges and opportunities of this industry can be more analyzed with “Porters Five Forces Model.” The five criteria for this model show that this is a good industry to get involved with; the threat of new entrants and the threat of substitutes are low due to the high start up costs and the technological demand required. The bargaining power belongs to the suppliers as this is a unique product with little competition therefore the rivalry among firms is almost non-existent; though it is not as detailed as Everyscape, Google Earth may provide some competition.

At the present moment there are very little competitors of this firm; as mentioned previously, Google Earth may provide some competition but their product is not nearly as detailed as Everyscape’s. Everyscape also provides the opportunity of window shopping, apartment hunting and viewing the interior of structures. The customers of this enterprise cover a wide range, from businesses, to disabled individuals unable to travel, or just the average person simply interested in some virtual exploring. The demand for travel will always be prevalent, the ability to travel from your own home is still a very new idea and thus the demand for this product is between embryonic and growth. Due to this product being so new, it is in the early adopters- early majority stage since it is past the innovation stage and moving on to becoming a product. Once it becomes more mainstream the demand will likely increase.

The strengths of Everyscape’s product lies in its versatility; it can be accessed anywhere there is an internet connection and it can be used by anyone. As well the product can be used for a number of purposes, from business trip planning to just out of curiosity. The weaknesses of this product are mostly due to the limited number of locations it has in its database right now, there are only 8. Once more cities and locations are added this product has a much better chance of