Question Description
Can you help me understand this Marketing question?
Identify a “Horizon 3” product, describe the basics of the product, and why it is an example of a Horizon 3 product.In your discussion, address why the risk is/was “high”.
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Explanation & Answer
Attached.
Running head: HORIZON 3 PRODUCT
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Horizon 3 Product
Name
Course
Professor
Institution
Date
HORIZON 3 PRODUCT
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Basics of the product
Uber is a horizon 3 product that acts as a transportation network connecting passengers to
available drivers (Blystone, 2019). Drivers utilize their vehicles to provide taxi services, and as a
result, uber gets 20 percent of the fare. Uber drivers are registered to begin to use the application
where customers can locate them. When a customer uses the Uber smartphone app, they request
to be picked where the driver dispatches to the passenger's location to assist in reaching the desired
destination. The credit card is used as the only payment method to ensure that Uber gets its
percentage and the rest of the driver (Blystone, 2019). This service is currently available across 55
countries; uber is still expanding its users in various cities to the point that the app can be used to
call for a helicopter for transportation. Uber does not engage in the taxi business or employ taxi
drivers; it basically connects drivers to customers and then takes a percentage of the fare been paid.
Garret Camp and his friends founded uber after spending about $800, hiring a private driver. He
intended to find a better way of reducing direct transportation costs and then realized that costsharing could make it affordable. His idea transformed into Uber.
Why it is an example of a Horizon 3 product
The product is horizon three because the fou...