For our project, we will be creating a company that enables commuters to connect with other commuters of the same school. It can use by both students and professors. Through these connections, the users will be able to coordinate carpooling when traveling from the same area. Users will be able to advertise themselves by saying where they are coming from and a rate they will charge to provide a student or professor on their route with a ride to school. Users of the site will be able to rate drivers and shop between potentially carpool with. Profit will come from a rate we charge for people to advertise on our site.
Our customers are individuals who seek an alternative way to commute from their home to the university by carpooling versus other various transportation methods such as taking a bus or the T. Our primary focus will be establishing a platform for the current students and professors whose university and residences are within the greater Boston area by providing carpooling as an additional option. We chose the higher educational community to set up a safe network which students and professors are familiar with and are most likely to trust and use. Our wider range of customer profiles will include people who have been our customers and want to continue using our service; people who are interested in our service/website but are currently not in the network, and people who are living outside the greater Boston area that also have a need for a ride to their university. In our market analysis we will depict the customer’s specific needs and we will provide the solutions; the assumption of our market characteristics and trends; the competitive and regulatory environment we are facing; our market strategy in corresponding the business’ start-up and growth, and how we intend to build the relationship with our customers to maintain and gain additional customers as the business grows.
Please answer these questions one by one and mark the questions’ numbers.
28. What do the competitors not do that our business is doing? What do the competitors not do that our business will do? Is this what customers really want? How do we know?
(Please provide two or three competitors)
29. What do competitors do that our business will do in a substantially similar manner? Is this what customers really want? How do we know? What do competitors do that our business will do in a substantially improved manner? Is this what customers really want? How do we know?
30. What is the competition from other substituted service/website?
31. Why is the target segment we selected over other possibilities? What specific advantages does it offer? What specific disadvantages does it have?
32. Why, from the customer’s perspective, is our solution clearly better than solutions offered by competitors? How do we know customers feel this way? How can we be sure of this?
33. What is unique with respect to our services/website in comparison to competing offerings? Is it unique, why and why not?
E. Regulatory Environment
34. What regulatory agencies will our business have to comply with? How will this affect the business? What is the cost of such compliance?
35. Who will be responsible for the regulations? Who is legally responsible?
36. How to keep the safety of the service/website?
F. Marketing Strategy
37. What is the primary image that we want to create for our services/website?
38. How does this image differ from the images held by competing firms/website?
39. What superlatives (for example cheapest, easiest to use, etc.) can be used to describe our services/website? If there are superlatives can be used, what will be used to appeal our customers?
40. What are our primary marketing communication tactics? Why were these marketing communication tactics selected?
41. What secondary marketing communication tactics will be used? Why were these secondary marketing communication tactics selected?
42. What other marketing communication tactics were considered?
43. What range of specific prices (charge by driving miles? using the website? rating the service?) does the customer pay for the solution (either the exact solution or a comparable one) at present?
44. What have been the historical pricing trends? What are the expected future pricing trends? Is pricing our marketing tactic? How and why?
45. How much do we expect a customer to pay for our solution? Why is this believed to be the most appropriate pricing?
46. Will price incentives (sales prices, special terms and conditions, credit, etc.) be used to stimulate sales? If yes, why? If no, why not?
47. If prices were raised by external reasons (fuel, public transportation, etc), what impact would this have on sales results? On margin results? Why do you believe this?
48. If prices were decreased by 10%, what impact would this have on sales results? On margin results? Why do we believe this?
49. What is the average sale per customer (for each using the service certain period)? What will be done to increase this to an optimum level (cost/payback justified/rate level/membership?) over time?
50. What are the specific marketing communication programs? What are the expected results from the marketing communications programs? When will they take place?
G. Relationships with Customers
51. What are the bases for ongoing relationships with customers?
52. What will the customers expect and receive from their relationship with the service/website?
53. What specific steps will be taken to ensure that customers are getting what they desire and expect from their relationship with the business?
54. How will this process be monitored to ensure it works safely, correctly and effectively?
What ongoing information do we expect to obtain and maintain on a current basis with respect to our customers? How will this be done? Who will do it?
Last Completed Projects
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