Automated Parking Subscription
Idea description
The idea is to create an online parking mobile app with a help of the local parking authority "MAWAQIF", which will serve young Emirati males, who have the need to reduce time spent on searching a parking space, and the product is unique from other products because it identifies free parking lots and executes payment from the subscription amount that the customer paid earlier for the app. Therefore, the app will identify a customer’s location through the GPS and will show available parking spots in the area. There will be a monthly subscription fee for the app, a certain amount of which will be paid for the parking once the customer parks his car. The idea was generated as a result of the shortage of parking spaces and problems associated with this, namely loss of drivers’ time, aggression and anxiety.
The early adopters of the product are Emirati males aged 25-35. This people are young, innovative and follow new technological advancements. They seek to simplify their lives, making them as much comfortable as possible. The target audience belongs to the average income group and is ready to pay a fee for the service. Customers need the product because people struggle finding parking spaces near their offices and homes, sometimes spending over an hour on it (Badam, 2015). The service will significantly reduce customers’ time on searching a parking space and will improve the driving experience. Importantly enough, the local parking authority is also interested in the app because it will decrease the number of illegal parking.
To obtain feedback from primary sources, a survey among Emirati males aged 25-35 will be conducted. Its purpose will be to inquire about the idea and receive comments. The survey will comprise questions related to parking problems that customers have, their opinion about a new app that would provide information about free parking lots, fee that they are ready to pay and concerns that they might have regarding the app. Primary market research is expected to be conducted within 2 weeks, and additional one week will be required to analyze and summarize the results. The results should be available before November 9th, 2016. Three team members will be responsible for the primary market research and will present their findings to the rest of the group.
To conduct a secondary market research, market reports on mobile apps will be analyzed. The purpose is to identify whether there is a market potential and whether the market is growing. Particular attention will be paid to the UAE app market. Two members of the group will be responsible for this work and will present their findings by November 9th, 2016.
Primary market research
Overall, 56 participants took part in the survey. About 98% replied that they had regular problems with parking. Moreover, 87% of them said that they would like to have such an app that would show them free parking lots. Almost 51% confirmed that they would be ready to pay from 257 AED to …