Identify a product with untapped potential. Propose three new features for this product and outline how you would assess their effectiveness.

A product with significant untapped potential is the traditional parking meter. Focusing on urban environments, here are three potential new features:

1. Dynamic Pricing & Real-time Availability: Implement a system where meter rates adjust based on demand and time of day, similar to ride-sharing services. This would incentivize off-peak parking and better manage urban congestion.
   • Assessment: Track changes in parking duration, occupancy rates during peak vs. off-peak hours, and user feedback on price fairness. A/B test different pricing models in select zones.
2. Integrated Navigation & Payment App: Develop a mobile application that not only shows real-time meter availability and allows for remote payment but also integrates with navigation apps to guide drivers directly to open spots.
   • Assessment: Monitor app download and active user rates, transaction volume through the app, and reduction in time spent searching for parking (measured via user surveys or anonymized GPS data).
3. Predictive Parking Analytics: Utilize historical data and real-time inputs (events, traffic patterns) to predict parking availability in different city zones hours or even days in advance. This information could be shared with city planners and drivers.
   • Assessment: Measure the accuracy of predictions against actual availability. Assess the impact on traffic flow and user satisfaction by surveying drivers who utilize these predictions.