Assignment Taken

Decide on features (USPs) that will help sales

Case Understanding

The case talks about an electric vehicle startup having a team of 8 members located in Bangalore. The startup has to come up with future plans in order to enhance its future prospects in growth and revenue generation. The company has to deal with its financials with alacrity if it has to sustain its operations, pay its employees and grow as a company by developing new products and marketing the same. Electric vehicle industry in India: • The electric vehicle industry in India is in its nascent phase, both in terms of the products being offered and the infrastructure that supports the seamless operation of electric vehicle mobility. • Though many ride hailing carriers and e-commerce players are adopting electric vehicles for their product delivery services, the general consumer sentiment towards electric vehicles in India is not favorable. • Despite the government’s efforts to expedite the adoption of electric vehicles, the general public still prefers the conventional internal engine-based vehicles during purchase. • It is in this atmosphere of skepticism, this startup has to develop new products, manufacture them and achieve economies of scale, market them successfully by changing consumer perception while generating revenues and raising funds to develop the company and pay for its employees and its operations. • The importance of conveying the unique selling propositions (USPs) to the prospective customers conveying the same, is dealt in this analysis.

BCS Solution Summary

• The unique selling propositions (USPs) are highlighted and how they will help improve sales are discussed. • Since electric vehicle come under a lot of skepticism due to the lack of charging infrastructure, range anxiety, resale value, maintenance and finally their high price. • The product portfolio of our startup has products catering to various segments with each product having features that are better than the industry average. • Each of these features be it range, price, ease of charging and the time taken for charging are some the USPs that help drive the top line for the firm.

Solution

The features (USPs) of our products that would help boost sales are:

1. Dual Battery System
2. Self-Rechargeable Batteries
3. Long Range
4. High Speed
5. Biometrics Lock System
6. Digital Touchscreen Display
7. Futuristic Modern Design
8. Artificial Intelligence

The Product portfolio consists of: 1. Two Wheelers

                                                       2. Three Wheelers

Management Principle used to Derive the Solutions:

1. Product Differentiation: Products developed have been differentiated on the basis of:

1. Form- The product has to look aesthetically much better than other similar products in the industry.

2. Features- The features present in the product has to superior to that of its competitors.

3. Performance Quality- The performance of the product in terms of its productivity, its down time has to be better than what the other players in the industry offer.

       2.Customer Centric Product Development: The customer was at the very heart of product development. Products were designed and manufactured based on what the customer expects out of the product and how those features present in the product would add value to the customer.

       3.New Product Development through the deployment of cross-functional teams: The startup had members from diverse backgrounds. So, the development of the product was not restricted to a technical point of view alone. Different view points from other non-technical members greatly helped in the final product design and development.

       

The USPs explained in detail (from a customer perspective):

1. Dual Battery System: One of the most important factors that make even interested customers hesitant to buy an electric vehicle is the concern regarding the battery usage. The dual battery system helps in keeping the keeping the vehicle on road for longer than other electric vehicles in the market thereby ensuring a much longer vehicle range.
2. Self-Rechargeable Batteries: This feature helps in greatly reducing the time required to charge the batteries. The charging done through regenerative braking and also from suspension movement helps save a lot of time by recharging the secondary battery if it power in it has been completely drained or the primary battery if the secondary battery has full charge.
3. Long Range- The electric vehicle battery capacity ensures a much longer range of the vehicle than what the other industry players are offering. The range of our two wheelers varies from 75km to 200km per charge and three wheelers from 160 to 250km per charge. This addresses another important doubt that customers always associate with electric vehicle. The industry average range is 80-100km. So, the vehicles we have developed are far superior than other players in this aspect.
4. High Speed- Electric vehicles are generally considered to be inferior in performance when compared to the conventional internal combustion engine vehicles. However, the vehicles that we offer perform better if not at the same level as fuel-based vehicles. With a good acceleration, top speed of our tow-wheelers varies from 60-180km/hr and three-wheelers 25-50km/hr.
5. Biometrics Based Lock System- Another important feature of concern is the security. The vehicles we have developed have the best security features based on bio metrics which allow only the vehicle owners and other registered people to start the vehicle. The user has to use his fingerprint in order to start using the vehicle. This feature is much different from those offered by the competitors.
6. Digital Touch Screen Display- There is an Android based touch screen interface that allows the driver to access the vehicle’s infotainment systems. This makes using the maps, attending phone calls, using the radio much easier. This touch screen ensures that very minimal time is spent on using these in-built features and the driver has more attention on the road.
7. Futuristic Modern Design: So much effort has gone into designing the best design for the vehicles so that the overall vehicle usage experience in enhanced. The color combinations available, the materials used for the making the seats all add to the sense of pride for owning this vehicle to the customer.
8. Artificial Intelligence: Artificial intelligence is used to optimize the vehicle performance. It helps in saving the battery based on the terrain and the traffic levels in which the vehicle is being driven through. The smart features present in the vehicle detect the environment and helps in saving power.

Conclusion

• The features mentioned above help greatly in differentiating the product from those of the competitors. • Since, most of the customers are expected to be from the middle and the upper middle-class segment, these features would resonate well with them. • This would in turn allow the sales of the company to improve greatly.

Attached File Details

company_logo.jpeg,