City bus arrival timings information system PROJECT IDEA
Problem Statement Description of the pain of the customer (or the customers customer): Now a days in major cities bus commuters/passengers are facing difficulties while waiting for the required buses for longer time & lack of awareness on arrival of city buses at bus stands/bus stops. Outline of how the customer addresses the issue today: In major cities bus commuters/passengers are facing difficulties at bus stops while waiting for longer time due to traffic jam of city buses & lack of awareness on city bus arrival timings. In this situation every bus commuter/passenger needs bus arrival timings information where they need not wait for the city buses for longer time & at the same time if bus got delayed then they can look for alternate transportation. This product will also help city bus / RTC (Road Transport Corporation) bus controllers by scheduling the buses at right times. The bus commuters also will wait for the next buses incase the current bus got heavy rush of commuters/passengers.
Solution Demonstration of my companys value proposition to make the customers life better: This product will display city bus arrival timings. My company will give all time technical support & AMC for the first 5 years. My product physically sits in & identification / profile of the customer I cater to: All types of Govt. & Private Road Transport Corporations. Use cases: This product will display bus arrival timings, will help commuters/passengers to catch their route buses at right timings & will also help RTC bus controllers by scheduling the buses at right timings.
Why Now Historical evolution of my category: Once I had an opportunity to visit Singapore, there I observed Metro train arrival timings system is successfully operating by GPS (Global Positioning System). I thought why cant we introduce the similar system for city buses by using mobile towers in all our Indian cities. Recent trends that make my solution possible: In Singapore & India, Metro train arrival timings system is successfully operating by GPS (Global Positioning System). There is more possibility of introducing GPS for bus arrival timings system by taking help of all mobile towers in cities. Total Market: As this product is useful to all Road Transport Corporations I think there will be 100% usage of this product.
Product Product line-up (form factor, functionality, features, architecture, intellectual property):
Product Product line-up (form factor, functionality, features, architecture, intellectual property):
Competition & Financial Projection List competitors: As the concept is new there are no competitors at present time. List competitive advantages: As this product is a new invention competitive advantages are not applicable for this product. Financial Projection (24 months): Period of Incubation - 24 months Revenues during Incubation - INR 25 Lakhs Costs during Incubation - INR 25 Lakhs Net Burn - INR 25 Lakhs Sources of Funds Own - Nil Borrowed - Nil
Business Model Development roadmap: During invention, in order to control the cost of man power I will recruit experienced Electronic Engineers, Technical Support & Marketing Executives who can work for reasonable salary on the contract basis. During the contract period I will recognize the talented Engineers & Executives who can give 100% support, maintenance, service & marketing where this product can be sold for high price & my company can make huge profits over the same. My plan to make money: My plan is to demonstrate this product to the internet media & news media where customers like to buy this product. After, we get a huge requirement we will fix a price for each product such that my company can make good profits by selling the same. Pricing my product: After product development I will fix the price of each product between Rs Lakhs depending on the demand & requirement. If the demand is more I will increase the price. Incase, the demand is less I will add some more features to the product so that customers should show their interest towards buying this product. Reaching out my consumers & delivery of my product to them: My plan is to appoint distributors in every country. Initially, I will use the established currently involved in Road Transport Corporation service companies. I will show the demonstration of this product on internet media & news media. I will collect the contact information of the interested consumers of this product & will deliver the same to their places.
Your suggestions & Proposals are welcome. Please feel free to contact me for further discussion.