The product that I selected for this course project is an application called SmartPark. SmartPark can be used to book a parking slot prior to arriving. SmartPark is a totally new product which is being introduced for the first time ever. This application aims at reducing parking related issues by reserving a parking space in advance at busy places like shopping malls and stadiums. The target audience for the product will be adults with a valid driving license who own or drive a motorable vehicle and require a parking space in heavy crowded places shopping mall, theaters, stadiums and any other heavily trafficked areas. Parking is a problem everywhere. A global survey conducted by IBM in 2011 found that "drivers have spent an average of nearly 20 minutes in pursuit of a coveted spot," although it varies widely by city. That wastes productivity, burns fuel, and worsens air quality, as well as contributes to traffic congestion. The smartphone application for parking slots will enable the user to book a parking space in advance. This advance booking for the parking spot will ensure the vehicle owner to have a safe and secure parking space for their vehicle. This way you can avoid the crowds and busier times and also not have to arrive extremely early to ensure a parking space. This application will also be helpful to estimate the crowd and the number of vehicles in the location. Most vehicles lack extensive integration with parking information, but drivers can easily replicate the functionality with one of the many smartphone apps on the mark

1. a concept statement. Concept statements are useful during the research phase as a means to obtain feedback on a new product idea from potential consumers before bringing the product to market. A concept statement must include the following key information:
2. summary that explains the rationale for each component in the concept statement (for example, why you included certain product features, why the specified price was chosen, why the key benefits highlighted are the most important ones, etc.
3. Describe two ways that you will do market research to identify who your target audience is. Discuss the type of market research, how you will implement the research, and why you selected those types of research.
4. persona that represents your target market based on your research.
5. SWOT analysis for your product to identify strengths, weaknesses, opportunities, and threats.