Group Report

Course: MKT202

Section: 10

Submitted by:
Umme Habiba 1821337030
Abir Hassan 1831843630
Fateha Johra 1913971630
Nabil Ibrahim 1911241630

Submitted to:
Faiz Ibne Hossain (FSS)
Lecturer
Department of Marketing
North South University, Dhaka, Bangladesh
Date: 23 December 2019
 Bro.Go

Table of Contents

Serial no. Content Page no.

1 Executive Summary 03

2 Company Summary 04

3 Product and Service 05

4 How the service work 06

5 Market analysis summary 07-08

6 SWOT Analysis 9

7 Strategy And Implementation Summary 10-11

8 Conclusion 12

9 References 12

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 Bro.Go

Executive Summary

The name of our company is Bro.Go. The service that we will be providing is an independent
profitable online app based ride sharing service. The ride will be share by using bicycles. It will
be available to each and every type of customer. Firstly we will launch this service in
Dhanmondi area. As we will be the first mover in this market, we will use the market penetration
pricing strategy to grape the market as quickly as possible.
Our providing service will help a person to reach his/her destination on time. By using Bro.GO
our customer can flexibly move from here to there by avoiding heavy traffic of our country at a
very cheap rate. This service will also help a person to stay fit and healthy. So we can claim that
it’ll become a very much effective service for a densely populated city like Dhaka were traffic
jam is a matter of high concern.

Objective
 This organization is built by us for the purpose of helping people to reach their
destination on time.
 “Save Time. Be Healthy” is our motto.
 The main goal of Bro.Go is customer satisfaction.
 We offer our operation to everyone but especially to university students.
 We will gain revenue from our customer by satisfying them.
 We will always try to improve our quality of service by innovation and adding
different feature in our service.
 We will encourage people to become more active, fit and healthy.

Mission
Our mission is to make life easy for Bangladeshi people by helping them to move flexibly and
reach their destination as quick as possible.

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Vision
Our vision is to capture the overall Bangladeshi market by providing good quality of services in
a cheap rate and also reduce the traffic problem of our country.

Company Summary

Bro.Go is a bicycle ride sharing service which will facilitate individuals to move flexibly by
avoiding traffic jam. In this service every customer will be their own rider. It will be an online
app based service. This service will cover Dhanmondi area. It is a startup Business. The service
will be available for the customer 24/7 every single day. Traffic jam is a matter of high concern
in our country and this service will help us to overcome from that problem.

Bro.Go is a partnership business due to its 4 co-owners. The management and the profits will be
share to all the co-owners of the organization. There will be a head office of Bro.Go in
Dhanmondi from where we will look after all of our works. The app that we are providing will
be develop and maintain by expert and professional app developers. The combination of Blue
and orange colure of Bro.Go’s logo create an affordable image to everyone. Moreover if the
customer want to know more about Bro.Go they can visit to this http://www.brogo.com.bd web
address and also can mail in this email brogo.service@gmail.com for any kind of inquiry

Product and service

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 Bro.Go

Bro.Go is an online app based bicycle ride sharing service, were every customer is their own
rider. In this service we will provide bicycles which will be lock with smart GPS bicycle locks.
This service will help everyone to move easily and flexibly to all over the city. Traffic is a very
big problem in our country but by using this service a rider can able to avoid this problem easily
and reach their destination on time.

Features
 There will be a smart GPS lock in each of the bicycle that we are providing in our
service.
 In every smart GPS lock there will be a QR cord.
 The QR cord scanner will be found in the app, which will be created by us.
 We will also create an online app for both Android and IOS. Through the app we can
select our timing and will get an idea about the estimated fare.
 In the Bro.Go app there will also be a payment system through which we can pay our
fare.
 Every bicycle will contain a specific area based number plate like: for Dhanmondi D01,
D02 etc. Those number plate will help us to identify the specific cycle.
 All the bicycle of our company will be same colour (navy blue). This specific colure will
create a uniqueness.
 There will be no specific parking space for the bicycle. So, a person can park the cycle
wherever they want but of course the place should be legally right.

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How the service work

In this service at first the customer will have to download the app in his/her mobile phone. Then
he/she have to register his/her data in the app. After that whenever they want to use the ride they
just have to set their timing in the app for how long they want to get the cycle and then scan the
QR cord by their own registered app. Whenever they finish the scanning the smart lock will open
automatically and the customer will able to use the bicycle. When the customer start scanning
QR cord the fare will be automatically charge. Rider can pay the fare through their debit card or
bkash account by using the Bro.Go app. When the customer is setting his/her timing, that time
he/she will be able to see their estimated fare. If the rider use the bicycle more than their given
time they will be charge extra automatically.

Market Analysis Summary

Market segmentation
We are dividing our market into two market segments.
Geographic: We are choosing the geographic segmentation by a specific area, such regions of
the country or state and urban area. Dhanmondi is the area that we chose. The road condition in
Dhanmondi area is best for cycling.

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Demographic: In demographic segmentation we chose the people based on age, income and
lifestyle. We mostly focus on the students. We provide our service at a cheap rate. So they can
afford our service at a low price.

Target Marketing Segmentation Strategy

Marketing segmentation strategies help our business predict where our services are most wanted,
allowing for better customer experiences. In Dhanmondi area there are lots of schools, colleges
and universities. Most of the student like cycling. So we mainly target the students. In the other
hand, the people who is health conscious they love cycling. So we also target them.

Market Needs
Marketplace needs may include tangible or intangible needs. We chose intangible needs.
Because, Dhaka is the city with lot off traffic jam problem. Traffic jam kills people important
time and they can’t reach their destination on time. Bro.Go service is the only way to reach
people destination on time and it’s also save their valuable time. This service also reduce the
traffic jam problem in Dhaka. People want to reach their destination on time and a cheap rate
fare. So we think Bro.Go service fulfil the both needs.

Market Trends
The use of bicycles has been increasing rapidly in Bangladesh because of traffic snarls in the
capital city and increased awareness about healthy lifestyles. Few years ago, demand on cycle
market is not so high. But in the current situation of the market cycle is more demanded. Because
cycle is just not a transport now a days. Cycles are used for stunt, physical exercise, and
adventure, cycling hobbies and eco-friendly mode of transportation.

Market Growth

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Market growth is the increase or decrease in the size of a market for a product or service over
time. It is typically measured as the percentage change in total sales in an industry or product
category. During the first eight months (July–February) of the 2017–18 fiscal year, Bangladesh
earned nearly USD 57 million by exporting bicycles, especially to the EU (European Union)
market. During the same period in the 2016–17 financial year, the earnings totaled USD 52.54
million. The growth rate is approximately 9 per cent compared to the previous year. We expected
to grow to 34.9 billion by 2022. So we easily say that the market growth rate of bicycle increase
rapidly

Industry Analysis
An industry analysis is a business function completed by business owners and other individuals
to assess the current business environment. An industry analysis consists of three major
elements: the underlying forces at work in the industry; the overall attractiveness of the industry;
and the critical factors that determine a company's success within the industry.

SWOT Analysis
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats, and so a SWOT Analysis
is a technique for assessing these four aspects of our business. We can use SWOT Analysis to
make the most of what you've got, to our organization's best advantage. And we can reduce the
chances of failure, by understanding what you're lacking, and eliminating hazards that would
otherwise catch our unawares.

 Strength
 Our strength is we are the first bicycle provider service in Dhanmondi area.
 This area road condition is perfect for cycling.
 In that area there are lots of universities, colleges and schools.
 Now a days the government is taking initiative to building bicycle lanes in the city.

 Weakness

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 We started our service with few bicycles .This is the weak point for our business. We
have to increase our quantity of bicycle for our customers.
 We target a very short area in Dhaka city. We have to target full Dhaka within a very
short time.
 The road condition of our country is very much poor.

 Opportunity
 There are no competitors in our business. That is a great opportunity for us to make profit
during very short time and grab the market quickly.
 Our service is cheaper than any other transport service. So people of every classes can
take our service

 Threats
 Bicycle is easy to carry and it can be steeled by anyone at any time.
 As every bicycle have an electronic device, there can happen any technical problem.

Distribution Patterns
Bro.Go service is based on online app. A customer can track his\her bicycle by the app.
whenever the customer want a cycle he\she can find wither there is any nearby ride is available
or not by using the app.

Main Competition
We launch our service in Dhanmondi area for the first time and ensure that there is no competitor
in our selected area.

Strategy and Implementation Summary

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 Bro.Go

Market Strategy
We will create social media group Bro.Go, so that our customers could share their experience
towards our target people. On their experience we will response and it turn our users into a loyal
customer. We will give an option in our app for our customers to share their user experience also
they can give their opinion so that we can improve the quality of our service.

 As Bro.Go is bicycle base riding service so customer can easily use foot path when roads
are extremely congested.
 We are trying to provide enough cycles so that customers don’t get discourage due to
deficient of cycles.
 Customers can easily locate cycle’s persistency whenever they want through mobile app.

Positioning Statements
Bro.Go provide fast and healthy service with lowest possible cost and ensure the highest possible
quality.

Pricing Strategy
Our total sale will come from the giving services because our main product will be providing
helps who needs them. At first we will use market penetration pricing strategy. We will offer a
discount price for first few months to gain the demand or popularity of the store. Later we will
tranquillize prices according to the recompose of the customers and take care of proper customer
satisfaction according to their payments.
We are using dynamic pricing. For first 10 minutes users have to pay 1.20 taka for next 20
minutes 1.00 taka and for above 30 minutes users have to pay 0.90 taka for per minute. Riders
have to take 10 minutes ride compulsorily. If there is an excess demand of bicycle price will
increase by 10%. If the rider use the bicycle more than their given time they will be charge extra
automatically.

Promotion Strategy

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Online: As we all know in recent time social media is the biggest platform for the promotion to
rich target customer. We will rich our target customer through social media like Facebook
Instagram YouTube twitter etc. At first we focus on Facebook ads, fan page, group. Now a day’s
people spend most time in social media. It is the easiest and cost efficient way to portray our
service.
Discount: In our primary stage we will give discount as much as possible to grab as more as
user’s we can. We will give discount like (2 free rides for the first registration)
Public Relation: We will do some campaign in front of school, college and universities. By this
type of campaigns our main goal will be to gain attention of our target group.
Reward: Customers will get a helmet or raincoat as reward on specific amount of ride they use.
Coupons: We will give some coupons to our customers to encourage them. So that, they will use
our service more. We will give them coupons like
 One ride free for using 3 rides in a day,
 30% discount will be given if they use 7 rides in a week
By giving this types of coupons we can increase our sales also.

Financial Plan

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 Bro.Go

Development
Capital 25,00,000
Trade license 10,000
Bicycle 2,00,000
App 3,00,000
Smart lock 1,50,000
Office 2,00,000

Total cost (8,60,000)

Cash in hand 16,40,000

Introduction
Promotion & Advertizement 5,00,000
Marketing campaign 5,00,000
Extra Expense 1,00,000
Tottal (11,00,000)
Casn (in hand) 5,40,000

Total Cost (8,60,000+11,00,000) = $19,60,000

Total Revenue – (36,296*54) = $19,60,000

Conclusion

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 Bro.Go

This business project proved to be helpful to all of us. We are able to plan execute a business in
detail even our business is small and did not get a lot of profit. But in the near future you target
on full Dhaka city.

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