YELP! HOW A WILLINGNESS TO LET ITS BUSINESS PLAN QUICKLY EVOLVEHELPED A START

IUBAT- International University Of business Agriculture and

Technology

Topic name:

YELP! : HOW A WILLINGNESS TO LET ITS BUSINESS PLAN QUICKLY EVOLVEHELPED A START-UP GET IT’S OFFERING RIGHT

Section: G

Course instructor: Sawpan Saha

GROUP MEMBERS

S.N Name ID Program E-mail Sign

01 Md. Abid Hasan Rahat 11102173 BBA [email protected]

02 Israt Jahan Ruby 11102009 BBA [email protected]

03 Sharmin Akter 11102301 BBA [email protected]

04 Salma Akter Samin 11102006 BBA [email protected]

05 Mohammad Nazmul Hassan

11102188 BBA [email protected]

06 Tauhiduzzaman 11102149 BBA [email protected]

07 Shamima Nasrin 11102178 BBA [email protected]

08 Azharul Islam 11102156 BBA [email protected]

09 Najnin Jahan 11202117 BBA [email protected]

Type of Business Private

Founded October 2004

Headquarter San Francisco, CA, USA

Revenue Us $27.39Million(2012)

Yelp is a web site where anyone can post reviews of restaurants, coffee shops, doctors, dentist or any business in which they are familiar. And same time people get information about any of these local business.

Discussion Questions

1st Question• Go to yelp’s website and look up one of your favorite

restatements. What you think? Do you think the company has an attractive enough offering that it will continue to increase its

number of user? Will you use the

service again why or Why not?

Curry Village, India345+ reviews.

• The facilities they provide are in the table:

Hours: Mon-Sun 11:30 am - 11 pm

Good for Kids: Yes Accepts Credit Cards:

Yes

Parking: Street Attire: Casual Good for Groups:

Yes

Price Range: $$ Takes Reservations: Yes Delivery: No

Take-out: Yes Waiter Service: Yes Outdoor Seating:

No

Wi-Fi: No Good For: Lunch, Dinner

Alcohol: Beer & Wine Only

Noise Level: Average Ambience: Casual Has TV: YesCaters: Yes Wheelchair

Accessible:Yes

This company has good offering to increase its user number.

• Yelp providing Google map for search the favorite local business

• We got enough information that we need for any restaurant

• The company now working in many countries and they are spreading their business other countries

Enough information

Will we use this service again?

If it give it’s service in Bangladesh, then we

want to say, “yes! several times.”

2nd QUESTION• What are the most important assumption that yelp’s initial business plan is based on? How about it’s revised business plan? Compare and contrast the two

Initial plan• people normally ask their friends for

a recommendation about a restaurant any shop or may parlor which they are looking for.

• one had ever created such a website that helps people to get available recommendation by friends

• Request and recommendation provided by mail

Revised plan

• Dropped the ‘e-mail your friends’ idea

• Give a platform for people who write reviews of local business from their own interest.

• The website itself was also redesigned

Compare

• People have to sign-up first to using this service

• Users have facilities to upload their photos.

• It is free in both plan• The name Yelp is same in

both plan

Contrast

Initial plan Revised plan

The color of web site was masculine gray and blue

The color is more feminine than initail

Recommendation by email

No email system for recommendation

3rd QUESTION

• What changes to yelp did the company’s founders make to effectively implement their

revised business plan? Were the change obvious or did it take careful observation on the founder’s part to know

what change to make?

• The founders of Yelp decided not to pay for reviewers. They wanted their site to be built by people who simply wanted to share their experiences.

• To follow the craigslist model and build Yelp city by city.

Please give your reviews to your

profile!!

• Add credibility to their site with the idea of requesting reviewers to profiles.

• They also decided to make Yelp fun to connect with their users.

• Bring favorable review to the top and negative to the bottom.

• Post a message from the owner.

“Owner lovely sing speaking! Why Yelp don’t take my message to post

their?!!”

4th QUESTION

• What do you think would have happened to yield after it revised its business plan if it had decided to go nationwide all at once?

• To start their business nationwide at once, they had need a big budget. They had to take a big amount of loan.

• We can see that by following craigslist model and build yelp city by city. But with this model they are also now under profitability. Yelp is not currently profitable.

• There is another issue that, it is not possible to have all the information of all the local business nationwide. Building city by city is suitable for this type of business. If they went to do that probably they would failed and also failed to give information about all local business and then the customer may frustrated.

I’m frustrated !

!Where is reviews?

Any Question !!

Thank You

YELP! HOW A WILLINGNESS TO LET ITS BUSINESS PLAN QUICKLY EVOLVEHELPED A START

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