ParkNET testing value proposition v2.0

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These slides explain our final OAP report for the Stanford Venture Lab Class. ParkNET team.

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ParkNET testing value proposition v2.0

  1. 1. ParkNETValue Proposition Testing
  2. 2. ParkNET NFC Chip  Used for Payments  Used instead of ticket Occupancy Detection  Bluetooth Low Energy  Infra Red  ZigBee  Others Software  IPhone App  Cloud based software
  3. 3. VALUE PROPOSITION TESTING Understanding our customers  Problems Value Proposition – I  Definition  Results from our survey  Interpret the data Value Proposition – II  Definition  Results from our survey  Interpret the data
  4. 4. PAID PARKING USAGE16.00%14.00%12.00%10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Used NUMBER OF TIMES USED PAID PARKING IN A MONTH 84% of customers used paid parking between 1 and 10 times On an average, each person uses paid parking 8 times a month
  5. 5. PROBLEMS CUSTOMER PROBLEMS THE CHECK-IN PROCESS PAYING THE CARD/TICKET IN THE END LOCATING YOUR CAR IN THE END FINDING A FREE SPOT AVAILABILITY OF FREE SPOTS0% 10% 20% 30% 40% 50% 60% The main problem pointed by the parking customers was finding a free spot, with almost 50% The second most pointed problem was paying the parking ticket, with arround 18%
  6. 6. PROBLEMS: FINDING A FREESPOT 30% 25% 20% 15% 10% 5% 0% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 NUMBER OF TIMES CUSTOMERS FIND IT DIFFICULT TO FIND A PARKING SPOT 82% of the people found it difficult to get a parking sport between 1 and 5 times in a month On an average, customers have difficulty in 65% of the times they use parking lots 6% of people who use paid parking consider it is always difficult to find a free spot
  7. 7. CUSTOMER ANALYSIS Vehicle Ownership 3% 11% Car Car, Motorcycle 86% Motorcycle Nearly 86% of the survey population owns a car. 11% owns both cars and motorcycles, and 3% owns only motorcycles
  8. 8. BASIS Looking at the customer demographics and problems, we realized that:  There are many problems that the customers are facing while parking  There is a huge potential in building systems that help the customer to solve these problems ( e.g. find parking spots, paying more efficiently in the end, etc.) Based on these findings we propose the following
  9. 9. VALUE PROPOSITION“Transforming the parking experienceof users by simplifying check-in andreducing check-out times.”
  10. 10. VALUE PROPOSITION - TEST Hypothesis Test Response Strength of Response NoWould you like to pay 17% Nofor parking via your 18%smart phone? Yes Yes 82% 83%Would you use your No Nocell phone to get into 18% 24%the parking? Yes Yes 82% 76%
  11. 11. VALUE PROPOSITION - TEST Hypothesis Test Response Have you ever lost your ticket? Yes 42% No 58% Did you have trouble No because of it? 42% Yes 58%
  12. 12. VALUE PROPOSITION - TEST Hypothesis Test Response Have you ever No forgotten where you 29% parked your car? Yes 71% Did you have trouble because of it? No 35% Yes 65%
  13. 13. INTERPRETATION Looking at the results of our survey we strongly believe in the following  An overwhelming majority (82%) of customers would like to use mobile phones enter to pay for parking and 83% of them believe it is better. The paradox is that even though people may not use mobile phone to pay, they still believe it is better.  Most of the customers would like to check-in using the mobile phones and nearly 75% believe this will be an improvement over the current tickets.  Nearly 42% of people have lost their tickets and almost all of them had difficulties in getting their car.  Nearly 75% of the customers have forgotten where they have parked their car and nearly 65% of them had difficulty in getting their car.
  14. 14. VALUE PROPOSITION“Increasing efficiency and control inparking lots through the use of smarttechnology...”
  15. 15. VALUE PROPOSITION Hypothesis Test Result No 9% Would you be interested in knowing the availability of free spots online? Yes 91% Would you be No interested in reserving 26% a spot in a car park? Yes 74%
  16. 16. INTERPRETATION Looking at the results of our survey into the value proposition we feel the following  Overwhelming support for knowing the online availability of free parking spots  Nearly 75% of the people are willing to reserve parking spots online
  17. 17. CONCLUSION Our survey was very useful for giving us a better view of what the consumer of car parks and its owners want Some aspects of our initial idea were changed with these iterations and a product that fits better the market has been thought Based on the surveys and detailed analysis of our value propositions, we believe that our product is going to provide the customers an enhanced parking experience and that it has been validated by our research.

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