Value PropositionNeed for better information availability for busroutes within Bangalore .No solution that caters to this need currentlyexists or awareness of such a solution isabysmally low.
Testing Value PropositionOnline survey conducted with total 34respondents.Age Bracket Bus service Usage
Result of survey -1Respondents on whether such information isneeded
Result of survey -2Respondents on if they would use such a service
Market Analysis (in terms of no oftarget customers)Data obtained from source in Indian Institute of Science ,Bangalore.Approximately 35 Lakh (3500000) people travel by buswithin Bangalore everydayJump in fuel prices & rise in urban population might propelshifting more people to use bus services.Use of alternate means of transport like metro rail andshifting to work from home options could keep the abovenos in check.
Competition IdentificationIdentified and evaluated three potentialcompetitor products.Contacted one competitor.Detailed analysis report at http://venture-lab.org/reports/1276
Summary of Competition Analysis 1) Abysmally low awareness of these products.(refer Survey results for value proposition) 2) The solution could be scaled to cover otherbig cities. The mobile application product is making anattempt to do that .Moreover they have a tie up withseveral service providers. 3) These solutions do not earn any moneythrough any source. 4) There is not a single brand solution thatprovides both mobile application and web based search.
Restating Value propositionNeed for better information availability for busroutes within Bangalore .Unlike the existing solutions, we aim to havemuch wider awareness.
ConclusionSuccessfully corroborated the value propositionUnable to predict the revenue numbers butcould identify the number of customers thatcould be targeted.Evaluated the competition.