1. Describe the value creation idea underlying the Zipcar new venture.

Recognition of unmet need. Robin Chase discovered that there is a big hole in the short-
term, on-demand car access market. There are approximately 15, people !ho do not o!n a
care !ith an "nmet need #or reg"lar or ad hoc private car access. There are people !ho, #or
di##erent reasons, don$t have their o!n car %high monthly expenses, ins"##icient end expensive
o##-street parking, and other problems o# car o!nership& b"t #rom time to time re'"ire "se o# a
private car to go to the grocery store, visit their #riends o"t o# to!n, or #or other reasons. ("blic
transportation, taxi and rental car services don$t meet their needs.