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Muhammad Al Farizi_ParkWise.pptx

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Muhammad Al FariziStudent at Eötvös Loránd University

ParkWise

Muhammad Al Farizi_ParkWise.pptx

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by Muhammad Al Farizi
Table of Contents
 The Big Idea
 Competitive Analysis
 Our Dream Team
 Financial Plans
 Marketing
 Making a Difference
Imagine rushing to an important meeting, heart
pounding,
as you approach your destination.
The last thing you want to worry about is finding an
elusive
parking spot. Will you make it on time?
Let’s face it, finding a parking spot in real-time
can be a total nightmare.
We all have been there, and it’s frustrating.
The problem
Finding parking spaces in busy areas
can be a challenge
The solution/Our Goal:
An app that simplifies the process of
finding real-time parking spots
Introducing a
simple and elegant
solution..
The Big Idea
The idea behind ParkWise is to create a user-
friendly solution for the increasing demand
of parking in busy areas of Budapest.
Activity Domain: Transportation
Features of the app.
 Leverages real-time data from parking
garages and street parking
 Provide users a comprehensive view of available
spaces in the area (pricing and traffic
conditions)
 Help drivers save time and reduce stress

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Muhammad Al Farizi_ParkWise.pptx

  • 1. by Muhammad Al Farizi
  • 2. Table of Contents  The Big Idea  Competitive Analysis  Our Dream Team  Financial Plans  Marketing  Making a Difference
  • 3. Imagine rushing to an important meeting, heart pounding, as you approach your destination. The last thing you want to worry about is finding an elusive parking spot. Will you make it on time? Let’s face it, finding a parking spot in real-time can be a total nightmare. We all have been there, and it’s frustrating.
  • 4. The problem Finding parking spaces in busy areas can be a challenge The solution/Our Goal: An app that simplifies the process of finding real-time parking spots
  • 5. Introducing a simple and elegant solution..
  • 6. The Big Idea The idea behind ParkWise is to create a user- friendly solution for the increasing demand of parking in busy areas of Budapest. Activity Domain: Transportation Features of the app.  Leverages real-time data from parking garages and street parking  Provide users a comprehensive view of available spaces in the area (pricing and traffic conditions)  Help drivers save time and reduce stress
  • 7. Our Unique Selling proposition.  Ability to reserve in advance  Notifications for upcoming parking expiration times  Pay directly within the app  Loyalty program + discount code.
  • 8. The plans for ParkWise are to expand the app to cover additional cities and integrate with more parking facilities to provide even more accurate and up-to-date information, and to increase its visibility within the community.
  • 9. Our plan collaboration partners:  Budapest Transport Center (BKK). ParkWise could integrate the app with existing public transport system. This provides seamless experience to finding spots near public transit stations  Major Shopping centers/event venues. (Westend, Arena Plaza, Váci street) Allows ParkWise to reserve parking spots in advance for busy shopping days/event venues, this benefits both parties by providing more convenient and stress-free parking experience for the customers.  Parking facility management companies. (ParkOne, Budapest Parkoló Zrt.)
  • 10. To Validate our Idea, we plan to:  Conduct user testing  Gather feedbacks from early adopters  Partner with local business and organizations to increase visibility
  • 11. Competitive Analysis Similar solution: Parkl The app, however, is moderately difficult to use, provides outdated information, offers complicate booking process, and lacks of helpful features.
  • 12. FIVE FORCES MODEL ANALYSIS  Threat of new entrants: Moderate. The cost of developing the app may not be high, but building reliable and accurate real-time parking database could be challenging.  Bargaining of suppliers: High. The app relies on accurate and up-to-date available parking spots.  Bargaining of buyers: Low. There are not many app alternatives available in Budapest.  Threat of substitutes: Moderate. There are other parking apps available, but they don’t provide the same level of convenience and accuracy as ParkWise.  Competitive rivalry: Moderate. There are sufficient established players in the market.
  • 13. BENCHMARKING ANALYSIS ParkWise could be benchmarked against similar parking apps based on factors such as:  User interface and user experience  Accuracy and reliability and the parking data  Availability of parking spot information in real time  Pricing and payment options  Integration with other services such as navigation and payment platforms
  • 14. STEEPLE/PESTER ANALYSIS (THE IMPORTANT ONES) Political/Legal:  Regulations and permits related to parking managements and safety standards  Government initiatives and policies related to sustainable transportation  Legal challenges related to liability and insurance for parking-related accidents
  • 15. Our Dream Team Team roles and experience:  Software development experts. Skills : Java, Python, Swift  UI/UX designers. Skills : Sketch, Adobe XD, Figma  Marketing experts. Skills: Market research, Data analysis  Business experts. Skills: partnerships with stakeholders Prior Knowledge:  Experience in parking management
  • 16. Market knowledge is important for ParkWise to understand target audience, competition, and overall market dynamics. In terms of social capital/partnerships, these are important. - Partnerships with parking lot operators - Partnerships with property managers or businesses
  • 17. Financial Plans Main Financial Resources for seed and early stages:  Personal savings  Friends and family investments (equity/debt)  Angel investments  Seed funding from venture capital firms Elements of Financial planning in ParkWise’s early stage:  Identifying costs (app development, legal fees)
  • 18. ParkWise Forecast of Main Revenues. The revenues will come from commissions charged on each parking spot booked through the app. The revenue forecast will depend on:  Number of users  Number of listed parking spots  Commission charger per booking We will conduct market research and analysis to estimate further
  • 19. Marketing Target Audience: urban car drivers (25-54) Our plan to advertise ParkWise:  Social Media advertising  Content marketing (Blogs)  App store/Google Play Optimization  User testing (Gathering feedbacks)  Word-of-mouth (Referral programs) Our marketing strategy centers around one goal: Customer satisfaction
  • 20. Making a Difference ParkWise takes socially responsible approach in several ways:  Environmental impact: Encourage drivers to use available parking spots rather than circling around looking for spots. This reduce traffic congestion and emissions.  Accessibility: Designing app with accessibility features (adjustable font sizes, screen readers, color contrasts) to ensure the app’s user interface is accessible to people with disabilities  Data Privacy: ParkWise ensures that user’s information and payment details are stored securely and only used for intended purposes. The company will
  • 23. by Muhammad Al Farizi