BikePanda: Bike rental appA Marketing Plan

What is the summary of your marketing plan?...

Executive Summary

• Young Urban population prefer independence over comfort and try to earn money from their existing resources by various means.

• So, BikePanda is trying to capitalize on these aspects by renting bikes and allowing them to rent out their bikes,whichhappens to be an unique agenda.

• Trying to make an impact by its large product/service portfolio and USP.

• Facing competition from Rentongo,Wheelstreet,Dryve etc.

• Trying to break even in the first year.

• Aiming to capture 60-70 % of market share.

• Collaboration with leading hotel,resorts and travel agencies.

• To strive to find financial capital and angel investors.

• Convenience,Flexibility,Social status for users.

• Low price & Rent by hour,day,week or month.

• Going to start its operation in 500 outlets across 25 states from Aug,’16.

• Communication through social media,word of mouth,blogsetc.

• One head office at Bengaluru,Five regional offices at Mumbai,Chennai,Delhi,Hyderabad,Gurgaon and Sub-regional office at all other remaining states.

What is the overview of the company ?...

Honesty

Reliability

Affordability

Product Portfolio•Luxury Bikes : Suzuki Hayabusa,Harley-Davidson,Kawasaki Ninja 1000,Royal Enfield

•Economy bikes: Splendor,Pulsar,SuzukiHayate,Bajaj Platina,Hero Passion Pro,HondaShine

•Scootors : Honda Activa,Dio , TVS Jupiter,HeroMastero Edge

•Wide range of bicycles

Market Position

Although it’s a new entrant to this business world,butit is trying to make an image by its USP.

What is its Market overview?...

SWOT Analysis Strengths

• Good service

• Qualified mechanic

• Comfortable bike

and Accessories

• Buying with

Cheaper price

• The best Location

Weaknesses• Hard to make loyal

customer

• Lack of Reputation

• Lack of experience

Opportunities• The number of tourists

grows every year

• The Rise in people’s

interest to rent out

their bikes

Threats • Existing Competitors

• Cheat from fake

customers

• Cheaper Price of OLA

and UBER

Competitors

Target Customers

Tourists

Young People

Office Employees want to rent out their bikes in long office hours to make money from it.

Delivery agents

What is the goal of the company ?...

Key Aspects of Goal

• BikePanda Company wants to become the company that can make the customer feel satisfaction and have enough bikes for customers to meet their demands.

• As it’s a new company entering into the market, so it’s aim ‘ll be to capture 60-70 % of market shares.

• It is trying to break even in the first year and then it ‘ll aim for profit according to the market situation.

How to achieve their goal?...

Hitting the right spots of consumers’ needs/wants

oEasier and cheap transportationoA sense of entitlement and independenceoA source of income for people who want to rent out

their bikes in their free timeoA very affordable option for the younger peopleoAn option of test drive of luxury bikesoA great way to avoid heavy traffic as compared to

cabs/taxies.

Collaboration

• Tie-Ups with leading hotels and resorts.

• Associations with travel agencies.

• Investment from Big Companies.

Our strategies include :

oTo find the financial capital for supporting this plan.

oTo build network with other bike rental shops.

oTo add more comfortable bikes and service.

oTo make the existing app more user friendly.

oTo convince more people to rent out their bikes.

Value Proposition

• Convenience and flexibility of location

• Better social status – for luxury segment

• Sense of adventure

• Opportunity to enjoy driving

• Advertisement of brands of collaborators/stakeholders through brand association.

What are the key aspects of their action?...

Product/Service

24*7 service

Rent by hour,day,week or month

Unlimited kilometers

Complimentary helmet(s)

Widest range of two-wheelers

Minimum documentation

Verified bikes with insurance in proper running condition

No security deposit for rent with GPS tracking on each bike

Instant mechanical support in case of any problem

Large no. of pick up locations

Instant returning/giving a bike to the owner who rented it out ,in case of any emergency

Brand Elements

Four wheels move the

body ; two wheels move

the soul.

Price Scheme

• Luxury bikes: Rs. 420/day , Rs. 42/hour

• Economy bikes: Rs. 220/day , Rs. 22/hour

• Scooters: Rs. 200/day , Rs. 20/hour

• Bi-cycles: Rs. 120/day , Rs. 12/hour

• In addition to these,Special discount for week/month reservation and 1st time subscribers,happy hours.

Incentives

• Additional discount to regular customers.

• Happy Hours offer.

• Bonuses to Stake holders and Collaborators after target completion.

Communication

Word of mouth

Advertisement

Social media

Official newsletter and blog

Distribution

• Available across wide range of cities all over the country

• Large no. of pick up locations in major cities

• Customers can leave the bike in any pick up location in the city

How do they go about their tactics?...

Implementation Process

• It’s going to open its 500 outlets across 25 states all over the country and ‘ll add the required no. of outlets in near future.

• 20 collaborators.

• Large parking area facility.

• One head office at Bengaluru,Five regional offices at Mumbai,Chennai,Delhi,Hyderabad,Gurgaon and Sub-regional office at all other remaining states.

• Planning to outsource the call center for tele-booking.

• Targeting purchase of 20 luxury bikes with average cost of Rs. 3 lacs.

• To hire 250 professional mechanics for smooth running.

• It’s going to start its nationwide operation from August,2016

• The proposed app has already passed the alpha phase testing in May and is expected to pass the beta phase by end of June.

Recap :

Executive SummarySituation AnalysisGoalStrategyTacticsImplementation

Credits: images.google.comflicker.com

Disclaimer

Created by Itesh Kumar Panda , NIT Rourkela

during an internship

by Prof. Sammer Mathur , IIM Lucknow