Airbnb - group project - MGMT6800.pdf

Airbnb - group project - MGMT6800.pdf - Innovation Through...

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Innovation Through Technology and Design – MGMT6800 Case Study Report Innovation: 18th June, 2017 TEAM BABYKARE Nabeel Adeni Padma Sonawane Rahul Mutha Rishi Kohli
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1 Table of Contents EXECUTIVE SUMMARY ...................................................................................................................... 2 DISCOVERY ....................................................................................................................................... 3 How desirable was the transformation? What was the opportunity/need in the current status quo? .............................................................................................................................................................. 3 How feasible was the transformation? What was the weakness in the current status quo? .............. 4 What were the forces supporting the status quo? .............................................................................. 4 IDEATION ......................................................................................................................................... 4 How compelling was the User Experience? ......................................................................................... 4 What technology did the founders use to disrupt the status quo and deliver optimal user experience? .............................................................................................................................................................. 5 What business model did the founders use to disrupt the status quo and deliver optimal value proposition? ......................................................................................................................................... 6 What was their compelling value proposition? .................................................................................... 6 CONFIGURATION .............................................................................................................................. 7 How did they build and deliver interaction platform of their minimum viable product (MVP)? ......... 7 DIFFUSION ........................................................................................................................................ 8 How did it spread? ............................................................................................................................... 8 DATA SOURCES ............................................................................................................................... 10 Exhibits ........................................................................................................................................... 12
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2 EXECUTIVE SUMMARY We have chosen Airbnb as we found it to be most relevant to our BabyKare product, on account of the online marketplace functionality. Airbnb was started in 2008 with a micro-insight of ‘The Artist’. Two roommates who couldn’t afford to pay their rising home rent decided to turn their loft into an area that could fit three air mattresses and rented it out to travelers looking for economical accommodation. When these two parties converged, it gave rise to Airbnb, a platform that connects the people who are willing to host short-term lodging at their place, with guests/travelers seeking accommodation and open to meeting new people. This has changed the meaning of traveling altogether, it provides the opportunity to stay with new people and explore their cultures; now a traveler can get a better exposure to a culture by staying among the people, likewise the hosts can learn about the traveler’s culture. Before Airbnb, people used conventional places to stay, such as hotels, which charged premium prices and lacked a personal connect. The job Airbnb managed to get done is– ‘Find a lodging facility that is cheaper and more flexible than the conventional hotels’. Airbnb underwent several iterations of their user experience as well as their business model. It overcame critical challenges of trust and mitigated stranger-danger bias through effective design solutions. Innovation insights: Airbnb tested the current market and validated the need for their product by starting with a simple website that allowed users to perform basic tasks such as post accommodations, search and connect. This simple website was Airbnb’s MVP that allowed them to gain valuable insight of what their potential customers would want. It also helped them validate the market and prove that there is a market for users who are willing to stay in someone’s home rather than a hotel.
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