I HAVE A 10 AM MEETING AND CAN’T FIND A “PARKING SPACE”

Well that’s certainly one way

I have a solution guys

WHY SO SERIOUS?

Choose the smarter way

SmartPark

PLEASE ELABORATE

SmartPark is an app based parking solution that can be used to see and book the nearby parking spaces available

But why is Smart Park required?

There is an unprecedented growth in the number of vehicles on road with the increase in urban population and hence decrease the available parking spaces available around the city

RESULTS OF ILLEGAL PARKING

• Traffic jams due to parking on roads • Damage to cars parked on roadside like scratches, dents etc.• Heavy fines and towing of car • Unwanted stress about the condition of you car while attending

your meeting or watching a movie

SITUATION ANALYSIS

COMPANY OVERVIEW

MARKET OVERVIEW

TARGET CUSTOMERS

(a) COMPANY OVERVIEW

• Initially targeting the shopping malls which already have all facilities of parking and managing it.

• The cost effectiveness will increase with increasing number of partners.

• Development of app firstly for a single city then expanding it.

• Firstly developing a beta version for android then launching it on other platforms.

• Later launching a web based version of it.

(b) MARKET OVERVIEW

• The main competitors in market are SpotHero and BestParking

• They are US based companies so the Indian market is fully open for SmartPark

• Moreover they have some big differences from SmarPark:

SpotHero – It does not link all available parking spaces available and only depends on the major parking lots for its functioning.

BestParking – It is used to find parking at airport parking lots at around 105 airports in North America.

(c) TARGET CUSTOMERS

• The free version of the app will be available to all• The premium version of the app will be available for 4.5$ per year with

additional features like:Valet parking at reasonably low costPick up and drop service available when the user pins in his current locationAdditional offers and discounts for regular Premium users• The premium version targets upper and upper-middle class users mainly

who value time more than money

GOALS OF COMPANY

• Launching the app first in metro cities like New Delhi, Mumbai, Kolkata, etc. where the problem of parking is very major.

• Next target the tier two cities after a span of 3 years minimum and launch it area wise.• Try to form a good user base first offering good discounted rates of parking.• Aim for at least 1 million downloads in first 3 months assuming its launch in the 4 major

metro cities.• The model is designed to function at no profit-no loss basic and the strategy is to gain

after that.

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Net Spending and Recovery curve vs Month

Spending Recovery

First Four Months of Company

In Lakhs

STRATEGY

COLLABORATORS COMPANYVALUE PROPOSITION

CUSTOMER VALUE

COMPANY VALUE

COLLABORATOR VALUE

COLLABORATORSThe following institutions or organizations are our targeted collaborators:• Parking lots• Business Offices• Shopping Malls• Recreation Areas• Schools• Hospitals• Free Lands

Few parking spaces would be reserved for SmartPark depending upon the congestion and requirement of that area. Information about only those parking spaces would be available in the app. A small percentage of predefined cut will be charged out of the ticket cost ie. about 25%

(A)

VALUE PROPOSITION

It has three elements:

• COLLABORATORS VALUE: There are many instances that the parking remain empty and remain unused as people don’t know about them. There are many free lands which remain useless. On entering into partnership with them, our collaborators can also earn from then onwards.

• COMPANY AND CONSUMER VALUE: It can be understood from the following case study.

(B)

To explain its benefit here is a simple example. To consider if Mr. X is plans a family outing with his family. He decides to watch a movie for

which he has to park his car in the mall. But the mall parking is full and the show is about to start. Should he park his car on road? Or get late while searching for a suitable parking. Little did he know that the whole school parking in front of the mall is free because school is closed

at night. Here is when SmartPark comes to rescue.

CASE STUDY

COMPANY

CEO

MANAGER

TERRITORIAL SALES MANAGER

SALES MANAGER

(C)

But what are your TACTICS for success?

OCCUPIED

FREE

PRODUCT ATTRIBUTE

COLLABORTORS• Their parking occupancy would increase by 60% than the current

occupancy.• Would provide them free publicity via the app• The roads in front of mall and other recreational areas won’t be as

crowded as before due to illegal parking.

COMPANY• The company will get about 25% of the ticket cost.

SERVICE & IMPLEMENTATION

There would be a barcode scanner at the entry point where you can scan the barcode generated on booking the parking.

There would also be a scout to guide the vehicles to their assigned parking spaces present just at entry.

On booking the space, that area turns red on app from green.When you leave you just have to click “check out” in the app and the calculated

amount will be deducted from your SmartMoney account.The booked area turns back to Green. In case of any problem, you can just use the in app feature of “Contact Me” and

you will receive a call back within seconds to resolve your problem.

SCHEDULE

MARKET RESEARCHMVP

(MIN VIABLE PROGRAM)COLLABORATIONS

BETA APP RELEASEAPP RELEASE WITH PREMIUM FEATURES

EXPANSION & ANALYSIS

SUMMARY

DISCLAIMERCreated by Prateek Verma, NIT Raipur during Marketing

Internship by Prof Sameer Mathur, IIM Lucknow

SmartPark

Choose the smarter way…….