Competitive Analysis
The Barcycle business is one of the contemporary methods of transport around cities such as Los Angeles, California, the United States of America. Barcycle is a business that is headquartered at ocean park, Los Angeles. The Barcycle is a pedal-powered quadricycle that is making the sightseeing trips happen and can be used for parties and sightseeing. The other cities in the United States such as Nashville, Tennessee, San Diego, California and Denver, Colorado.
| Competitor 1(Cinema Vehicle Services) | Competitor 2(Uber) | Competitor 3(Bikes And Hikes LA) | |
| Overview | Cinema Vehicle Services is a car rental business that is headquartered in Los Angeles. The company has been in operation for around four decades. | Uber is a ridesharing and food delivery car service based in San Francisco, California that enables people to have rides around major cities in the United States of America. | Bikes And Hikes LA is a bike hire service in Los Angeles. The company provides bicycles for the customers who want to go around the town. |
| Target customers | The target customers are the film and commercial industry and the individual car renters. | The target customers are the restaurant customers who want their food delivered, the typical boarders of taxis to and from work, and the taxi users in case of emergencies. | The target customers are the Los Angeles residents who love biking. |
| Pricing of products and services | The rented cars are categorized as nondescript, rent-to-wreck, commercial, and emergency vehicles. They are priced differently. | The prices of Uber are set according to the distance covered in the city. | The prices at Bikes And Hikes LA are set according to the duration that a customer is with the bike. |
| Marketing strategy(online) | Social media such as Instagram, Twitter and Facebook | Social media such as Facebook, Instagram, and Facebook. Uber also has a website and an application to venture into the digital age. | Social media platforms such as Facebook. The company also has a website. |
| Marketing strategy(offline) | Print media such as magazines and newspapers | Uber has been featured in various magazines and advertised in newspapers distributed in Los Angeles. | Bikes And Hikes LA has severally been advertised on newspapers around Los Angeles. |
| Competitive advantage | Cinema Vehicle Services has unique services to the clients such as renting a variety of cars to the film industry | It has quick response rates to the customers. | Bikes And Hikes LA has a variety of bicycles that are great for the customers. |
| Strengths |
Dedicated employee base Excellent customer service |
Excellent customer service Elaborate marketing strategies. |
Personal relationships with customers. Affordable services to the market. |
| Weaknesses |
Narrow market approach Narrow chances of expansion |
Uber has not ventured into the market efficiently, and, therefore, some customers are underserved. A lot of time is taken before the company comes up with a new service. |
Bikes And Hikes LA lacks specific goals There is the slow provision of new services. |
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Company Analysis
Barcycle is a company located in Los Angeles. The Los Angeles market of riding barcycles has been mostly unexploited with only a few companies in the market. Barcycle has conducted various market analysis and come up with a marketing plan to guide the business operations. The barcycles are commonly for the fun lovers in the city. The barcycles have been hired for beach parties, birthday parties, and general riding in the city. Typically, Barcycle offers tours that are two hours long. There are numerous stops along the way for the passengers to alight from and others to be picked up into the barcycles. However, Barcycle also offers the custom riding services where the clients can rent the bicycles.
Barcycle has different prices for its services. Wontedly, the company has higher rates for the custom Barcycle rides than the popular trips around the various parts of the city. Customarily, Barcycle tours are $ 42 for up to ten people, but it drops to $ 39 in the case of 11-14 passengers. Booking the entire Barcycle for private use is $ 495 for the 15 available seats. The company offers discounts in some cases, however. Uber prices for a fifteen-mile distance in Los Angeles could range from $ 14 to $ 102. The pricing of the barcycles is therefore affordable to the residents and the target customers in Los Angeles. Nonetheless, the prices can be altered to make them more accessible.
Marketing of the Barcycle rides has been evident in the various media in Los Angeles. Digitally, the company has marketed the trips on its website, which enables the customers to get the information they need on the company and the bookings. Barcycle also has a Facebook page for the advertisements for its products and services. Barcycle has also been advertised on the print media in circulation around the city of Los Angeles. Some strengths of the company have enabled the marketing. One of the strengths is that the company has dedicated employees. Barcycle has also significantly invested in excellent customer service. The company also has to work on some of the weaknesses to ensure that the marketing plan is a success. One of the ways is through diversifying its products to avoid the problem of the lack of variety in its products. The company can also ensure that its website has clarity on the services offered and their price. That will handle the weakness of confusion in the products and services provided.
Product Analysis
The following is the feature benefit ladder analysis for the Barcycle business in the city of Los Angeles. The ladder begins with the consumer. The target consumers for the Barcycle services are the residents of Los Angeles who may have parties, corporate outings, and the regular riders around the city. The groups of the target customers have one thing they need in common: the affordable transport around Los Angeles. Barcycle has come to reduce the time taken to get from a point to another in the city due to the traffic snarl-ups and road closures. Therefore, the service will be of benefit to the consumer.
The Barcycle is a unique and new invention in the modes of transport around the city of Los Angeles. The barcycles are fitted with coolers and cups for the passengers who have brought drinks on board and those taking the provided ones. The barcycles also offer drinking water during the two-hour long trips around the city. The quadricycles are depended on the pedal, which means they are affordable to maintain since they do not require fuel like the rental cars and the Uber taxis around town.
The consumers need affordable means of transport around the city of Los Angeles. Barcycle is keen to provide the service to the residents and includes the mentioned features to make the rides unique. The outings for example in the student bodies and the families have also been continuously looking for means to hire means that have their value for money. Barcycle has come up to provide the solutions and satisfaction to their wants.
The barcycles also target the emotional benefits among the customers. Barcycle has significantly invested in comfort for the consumers. That has increased their satisfaction as they enjoy the city rides. The safety of the customers aboard the quadricycles has also been guaranteed. One of the ways that the company has done so is by ensuring that there are rules on the bikes such as limiting alcohol so that the passengers are safe.
Customer Analysis
In the recent past, the rental business in the transport industry has grown in importance in the city of Los Angeles. The revenues in the sector have been increasing, and therefore the industry is a lucrative one in returns on investments made. The following is the data for the independent companies in the rental industry in the United States of America.
| 2014 | 2015 | 2016 | 2017 | |
| Cars in service across the U.S. | 68000 | 70000 | 73000 | 70000 |
| Number of locations in the U.S. | 5500 | 5500 | 5600 | 5500 |
| Revenue (in million dollars) | 570 | 585 | 595 | 600 |
The following is the graphical representation of the cars in service across the U.S. and the number of locations across the U.S. data.
From 2014 to 2017, the number of cars in the rental business across the U.S. has been gradually increasing. That is because of the popularity of the sector and its convenience for the residents of the country. Also, car rentals are the most convenient transport methods around many U.S. cities.
The following is the graphical representation of the revenues collected from the car rentals from 2014 to 2017.
In the car rental market, there is an obvious increase in revenues across the U.S. in the four years. Barcycle, therefore, targets the industry to stabilize in the market and expand into the other cities across the country.
The factors that are making the residents of Los Angeles to prefer the Barcycle around town to the other means of transport are as follows. Firstly, Barcycle is cheaper than the different modes of transportation around the city of Los Angeles. Secondly, the Barcycle is comfortable and accessible at any time of the day and has pick-up and drop-off points at the passengers' will. The other factor is that barcycles offer the clients onboard refreshments. The safety of the passengers is also guaranteed. The customers have preferred the Barcycle for their needs and given it more ratings than the Uber.
Market Analysis
The customers of the Barcycle business are in both informal and formal sectors of the country. Formally, the barcycles may be used by the corporate outings by the professionals in a given company around Los Angeles. The corporate outings will be classified under the private usage of the barcycles. For the corporate outings, the organizations will have to book the entire fifteen seats available on the Barcycle at the rate of $ 33 a seat. The corporate customers will be required to reserve the barcycles in advance. They are also allowed to cancel their bookings.
The other customers of the barcycles are the informal bookers. These include those who need the quadricycles for birthday party purposes, and other parties and celebrations. The rates will be the same for the corporate bookers. They too have to book all the seats in the Barcycle. Those booking the barcycles for the birthday parties and the other parties are allowed to book them in advance and are offered cancellation services. Both the corporate and the non-corporate customers are classified into the private booking category by barcycles, and their rates are different from the other passengers.
The other customers of the Barcycle business are the ordinary travelers. The regular travelers are picked up by the barcycles and dropped off at different points in the city along the Barcycle routes. The rates of the conventional customers are also different but range from $ 39 to $ 42 depending on how many people will be riding the barcycles with them. The more the passengers that board the barcycle, the less the charges involved. The ordinary passengers are allowed to have two-hour long trips around the various parts of the city of Los Angeles.
