Parking is a huge problem, especially in urban areas. Drivers often spend a lot of time trying to find parking slots. The ever-growing number of vehicles in the country is the contributing factor to such kind of a problem. Hence the necessity for more parking lots by drivers. People find it hard to find parking places hence the need for smart parking services, which has helped solve these problems in urban places by discovering empty parking lots and limiting illegal parking. The parking industry comprises many parking app companies, which has result in a competition. Stiff competitions are experienced between the companies, which has resulted in companies focusing on customer experience as an approach to improving services and getting more customers.
Good customer experience is what keeps the companies thriving. Since the customers can develop values out of the parking app's services, they will maintain their loyalty to the company hence the company's success. Customers usually evaluate the total experience they have with the company, which determines their loyalty to the company due to satisfaction. Branding and customer service have enhanced the customer experience.
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The type of services that the company has provided and the customer experience have contributed to the other companies' outdoing. For instance, connecting parking suppliers to customers who need to park short term and also doing long term and hourly parking is some of the services that have created a good customer experience for the company. In terms of customer services, the company has enhanced efficient ways that have enabled customers to easily reach the company either through phone, web, app, or social media.
Despite providing better customer experiences to the customers by providing more pleasurable, simpler, interesting, and convenient service, try, and purchase. The company has less distribution reach than the competition. Identifying the pain point is necessary at this point. Distribution reach being the company's pain point can hinder the growth of the company. Therefore, it should be handled to ensure more customers are met. The pain point aims to identify users' experience and replicate faults in the experience that hence need a solution to be addressed (Dan, 2020). Th ere are many common distribution channels for an app like us, Apple store, Google App, Optimize Search Discovery, Ad Networks, etc. There is a need to broaden the distribution channel and break the ice by applying the app on as many distribution channels as possible.
The company's business model is essential to enhance strategic plans for the company to curb the competition from other companies. The models also improve the services hence getting more customers and, in return, facilitates profits for the company. Furthermore, the models provide a new way of ideas and solutions to market problems. The company uses two kinds of business models: "Pay-per-use" and "We are the Middleman." The Pay-per-use business model includes limited use a product or service, and customers are incur a cost when they use the service. The pay-per-use model allows customers to pay only for what they use and is consumed on-demand (Robert, 2017).
While "we are middlemen" has two layers, one layer acquires many customers who come to the platform, create free accounts, and search for their desired parking services. The second layer allows suppliers to list their parking spots on the platform at a nominal fee (Robert, 2017). The company charges an additional fee to help the suppliers increase visibility. Moreover, there are commissions on net sales and advertising revenues.
The business model's evaluation and how the business holds up against the competition is essential, especially if the model is being introduced in the business. To do so, a strength survey of the model needs to be carried out (Robert, 2017). The survey will enable monitor the business's weaknesses and strengths hence revealing the potentials of the business.
References
Dan, S. (2017). Pain Point A Guide to Finding and Solving your Customers’ Problems. Word Stream . https://www.wordstream.com
Robert, F. (2017). The business model explained. Business Models . https://www.learn.marsdd.com
