luxury car rental_v1

8/18/2019 Luxury Car Rental_V1

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Exploring the luxury car rental segmen A Research Proposal

Prepared for:Micom infosolution



Research ac!ground

"he car rental mar!et in #ndia is ooming $ith a %aluation of aout &'( ) crore- the creation of ne$ opportunities as se%eral international and nationare entering the mar!et in ma.or cities/ "hese companies are oering %ariotra%elers, e it a chaueur dri%en car, a special pic! up ser%ice, and much m

"he gro$th of car rental in #ndia has remained consistent and gradual, $ithplayers increasingly in%esting in luxury cars to cater the demands of their cin personal incomes, impro%ed road infrastructure and increased %olumes oand domestic tourists are the chief factors for gro$th in rental mar!et/

#ndustry experts opine that the future gro$th of #ndian car rental mar!et is led y the usiness and leisure segments $hich sho$cased tremendous peyear on year gro$th/



'etting the ontext

"he client, Micom infosoultions is a ser%ices centric organiations $hich sppro%iding #" solutions %i/ computer systems, peripherals and ser%ices li!e security, infrastructure soft$are or net$or!ing/

lient is planning to di%ersify its usiness portfolio and enter the car rentin India and is intending to launch a business of renting premium luxury cars to a particular set of clientele

"o this o.ecti%e, the client $ould li!e to conduct a research study to undercar rental space in #ndia and understand the response to the concept of a lu

rental model and also arri%e at pricing 3ues

"he follo$ing document contains 4ar%y #nsights5 approach for meeting the



• "o arri%e at a detailed understanding of the luxury car rental#ndia, assessing the existing ser%ice, gauging the consumers

experiences, expectations and need gaps if any• E%aluation of the consumer reactions to the idea of renting acar for a pre specied time period in a 7 year time span

• &nderstanding the potential triggers 8 arriers to adoption,apprehensions e%o!ed and pain points percei%ed around the

• Proling the li!ely consumer prole, his attitude, desires and

aspirations in life etc/

"he !ey usiness o.ecti%e is to assess if there is a mar!et for a

timeshared luxury car rental in #ndia9

usiness ;.ecti%e

Research ;.ecti%es

"he 4ey ;.ecti%es



<ppreciation of thrief



"arget <udience consideration

=i%en the niche and indulgent nature of the oering , the %ariants of cars

to oer to the customers, the target audience for the research $ill ha%e

!eeping in mind certain considerations %i/

"he participants $ill e representati%es from the upper strata of the socie

disposale income, positi%e attitude to$ards expensi%e and indulgent go

ser%ices

Meeting indi%iduals $ho are early adopters of products and ser%ices %i/ hgadgets, cars, timeshared resort memerships etc/ $ill also enale us to

insights from the end customers

"hese considerations $ill e factored in while devising the sample de

research so as to get a holistic view of the category



"he 4ar%y #nsights <pproa



Research <pproach

Understanding the

customer

Reactions tothe concept

Cues onpricing

onsumer proling&sage and attitude to$ards

luxury

Reactions to the concept,appeal, triggers and potential

arriersPercei%ed ad%antages and

disad%antages

<ttitude to$atimes

(oes he see pay for for

m



road #nformation <reas

Customer proling

&nderstanding the customer , his day to day

routine, his $or! life to explore the role of a rentedcar in his life

?is needs, desires and aspirations in life,understand his indulgences in life

Role and #mportance of luxury items@goods in his life

<$areness and perception to$ards timeshared

goods@ser%ices Percei%ed ad%antages and disad%antages expected

from such a ser%ice

Enlisting of goods #n%ested in or rented out on atimeshared asis , duration of usage

?o$ open does he come across $/r/t renting @timesharing luxury cars 9

Ahat are the percei%ed enets of such a ser%ice to



road #nformation <reas

=aining responses to the concept

Measuring the acceptaility of the usiness concept

y e%aluating its <ppeal $hat in the idea attracts the customers 9

elie%aility do the customers elie%e in the claimmade y the usiness

Rele%ance do they nd the ser%ice rele%ant in theirusage context as $ell as on comparing it $ith theexisting ser%ices in the mar!et9

Purchase intention $hat $ill moti%ate @dri%e theminto uying the memership@suscription

<scertain the primary usage dri%ers , occasions andfre3uency of usage of a rented luxury car

<ssess the percei%ed arriers at a social , nancialand product le%el to the usage of a rented luxurycar



"arget <udience B #ndi%idual ?ome uilders

(emographics

Male !"C #$%

#ge group& '()* years 70 to 7C years *Dounger age group- 7 to + years *;lder age group-

+ccupation& !alaried employeesMust ha%e a annual salary of at least #FR 1+ la!hsMust o$n at least one car from the c>segment or of a minimum $orth oMust e a memer @ suscription holder of a timeshare ser%ice @ produc

Mahindra holidays , sterling resorts etc/

usiness ownersMust e o$ning a small to medium scale usiness $ith a turno%er of atMust e in the said usiness for at least the last >10 years'hould e a ha%ing a international clientele



Research (esign



'ample (esign

A total of 8 interviews across 2 centers

Mumai aroda "otal

Dounger ;lder Dounger ;lder

usinessowners

1 1 1 1

!alaried

"mployees

1 1 1 1

-otal. . . . /



"imelines

#ctivities 0orking days 12ualita

Client 4o #head (ay 0

!et up 5 preparation(ay 1 > (ay +

6ieldwork (ay 6 B (ay )

7ata #nalysis and Report writing(ay 10 B (ay 2

6inal face to face presentation (ay 2+

#mportant Points <ny delays in appro%al 8 naliation of Research #nstruments or receipt of stimulus materials $ould spill o%er into th <ny delay arising due to any unforeseen circumstances, may hamper the timelines/ ?o$e%er the same $ill e intima

immediately



#n%estments

#n addition to the ao%e, ser%ice tax $ill e applicale as per =;# regulations, at the rates pre%aiat the time of payment, currently 1/+

Payment terms: +0 upon commissioning of the study +0 on sumission of ndings

Cost Cost 1I8R3

2ualitative -otal Cost&

Research ostsK Iualitati%e

Lollo$ing ;ut ;f Poc!et expenses $ill e charged at actuals and $illinclude: +ption

$

.*((((9

+ptio$:*((



Ahy 4ar%y #nsights *4#-9

4ar%y

Gineage

4ar%y is a premier service provider $hich: #s ranked among the top* in the country across its usin Manages large scale data: 0 crore dataase recordsK en

crore Unparalleled reach pan India& touches 1 in e%ery 6th #ndia

oNces 'er%ices :((( ;8Is across the country

4#

<I is all aout 1#3 =I6" > a vital force $hich is inherent in all thinapplied to assess all dimensions of consumers, rands and commude%elopment

!trengths of <I& -eam& < team of highly experienced researchers #n%ol%ed at all stages of a pro.ect- from di%erse ac!grounds

'ociologists, 'emiotics, <nthropologists, Psychologists, Enginetc/

"xperience& "eam $ith experience across a variety of res5 sectors

Cement, ?ome 8 (Ocor, Media, LM=, L8, #", Retai "elecom, Retail, onsumer (urales, E>commerce, "echnan!ing, Education, <griculture> ommunity de%elopment

-ech power house& #n>house software developers enal

customi?ed tech solutions to ma!e MR more eNcient, reoriented and actionale for clients

M t th 4 # i ht t



Meet the 4ar%y #nsights team!usmita Misra, !enior Aice Bresident .(% years experience• ?as $or!ed on a $ide range of studies including 'hopper studies, Mar!et &nderstandi

oncept@Positioning@ <d de%elopment 8 testing, 'egmentation, &sage and <ttitude, Pr• 'he $as pre%iously heading onsumer #nsights and Retail <nalytics at harti Aalmart/

$ith #MR for 1 years• M< from Qa%ier #nstitute of Management, huanesh$ar and is %isiting Laculty at ##M

';#G

Radhika Aenkatarayan, #ssociate Aice Bresident, $)% years experience• 'tarted out $ith #MR, after graduating from Mudra #nstitute of ommunications <hmeda• Aor!ed in their Mumai and hennai oNces, in 3ualitati%e research, across the categories

e%erage, Media, Linance, "elecom, Retail, among others/• ;%erall has 1+ years of $or! experience, most of it in the area of 3ualitati%e research/ ;th

the area of fund>raising for a non>prot, edited a magaine and de%eloped curriculum for

ipin Bodar, !enior Research "xecutive $D* years experience• ipin has 1/+ years of research experience in $hich he has ser%iced rands across sectors li!

?ealthcare, <utomoti%e, "elecom, LM=, Personal care sectors• ?e has $or!ed on a $ide range of studies including Ethnographies , &sage 8 attitude, Produ

Pac!aging e%aluation, Fe$ product de%elopment, oncept@ <d e%aluation d• MM' from F/G/ (almia #nstitute of Management *FG(#M'R- and has $or!ed $ith "F' #ndia in



E-he best way to predict the future invent itFG

-hank Hou

luxury car rental_v1

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