ParkItUp

The best parking support app

ParkItUp aims at solving all vehicle parking issues
by providing instant information about the
parking spots available near the destination.
 MISSION
We aim to provide safe, well-
maintained and quick parking services
near your destination along with
providing you knowledge about the
traffic scenario near your destination.
 VISION
Our vision is to be India’s top parking
information app and to provide knowledge
about traffic so as to enable people to select the
right option and hence help in regulating the
traffic.
• The company ParkItUp inc. has been formed recently
and this is going to be their first product. Hence
currently there is no brand image developed.

• Based on preliminary market research the idea of

ParkItUp has been well received and marketing will be
critical to develop brand awareness as well as
customer base.
• ParkItUp is an extension of the app SpotHero in
India, adding more features to the app.
• It is available on Google play store, iOS Apple
Store and touch screen GPS installed in cars.
• The target market is almost all the people who
travel by private vehicles such as cars, motorbikes
etc.
• Voice assistance, GPS navigation till the parking
spot and density of traffic on the route and
around the destination.
• It will be first of its kind in Indian market.
 STRENGTH
• Easy to use.
• One stop shop for traffic related info.
• Creating a Blue Ocean in the parking market.
• Time-saver.
• Gives a sense of confidence even when
entering new neighborhoods.
 WEAKNESS
• New entrant into the market.
• Non-existence of any sort of brand image in
the minds of the people.
• Less use and lack of trust in new software by
some orthodox Indians.
• Lack of huge initial capital.
 OPPORTUNITIES
• To create unity among all parking space
owners.
• To create a uniform, one stop for all parking
app.
• Utilize all free spaces alongside roads and
lanes to their maximum by bringing in all
owners under one roof of this company.
 THREATS
• Disagreement or personal rivalries among
different parking owners.
• Threat from foreign apps of this kind (Eg:
SpotHero) if they decide to expand in India.
• To first release the app in suburb area of
Mumbai for the first six months. Eventually
expand into the whole of Mumbai in a year.
• Owing to the financial capabilities due to the
profit and interest from investors, start
expanding across other metro cities of India.
• Revolutionize the parking scenario of entire
Indian towns and cities by the end of 4 years.
 CONSUMER
Clearly, the consumer of the products will
be all people who own a private vehicle
and also may be useful for those
commercial vehicles that require parking.
The strategy would be to make the app so
user friendly that almost entire target
market can access the app with ease.
 COLLABORATORS
All the parking space
owners and in later
stages, even the
people owning
parking space for a
single vehicle would
be collaborators in
this startup.
COMPANY
The key personnel would be
the original co-founders
responsible for software
development and the major
investors. Moreover the
company that helped with
the navigation system
leading to the parking space
would be a major
stakeholder as well.
 COMPETITORS
No major
competitors as of
now but could face
competition if
foreign apps of this
kind decide to
expand in India.
 Value Proposition
Common people will see this app as a helper in
decision making (whether to ride a bike or a car
or neither , to the destination). They will also
see this app as a time saver due to its quick
response time and fast technology used in
searching parking spots for the required vehicle.
One who gets benefited from the app will
become a permanent customer of the app, also
becoming a marketing epicentre for the future.
ParkItUp

Time is precious,
ParkItUp quickly.
• The app allows you to find parking spaces
around the destination that you choose
and also gives info on the traffic around
the same.
• Once a parking space is available, the
space can be booked directly if it is
owned by a specific owner.
• If it isn’t owned by anyone, the app keeps
you updated whether the space is filled
or not.
• The app then provides you
navigation to get to that place.
• It directly connects you with the
owner of the parking space as well.
• Hence, it is a one stop shop for the
entire issue related to parking.
• The premium account allows you to be
the first preference in case there is a
single parking spot.
• In case of parking spaces which are not
owned, the app will give preference to
premium users and not show up on the
free users’ screen.
• It allows you to park in spaces for a
price that will be 50 cents less than the
official price.
• Downloading the app will be completely
free of cost. However, to unlock the
premium features, the cost will be $20 a
year.
• Usually, the cost of parking is Rs. 50 a
day. $20 can be covered up by parking for
roughly a month and all the other days
that you park is an added advantage!
 Consumers
• We will provide initial
discounts on the premium
features.
• Also we will conduct referral
programs to get as many
people on the app as possible.
 COLLABORATORS
• Partner with parking space owners
by giving them promise of customers
in return.
• Might have to put in initial deposits
with them to win their trust.
• Provide them with premium version
for free.
Distribution will be
through Google Play
Store, iOS Apple Store
and touch screen GPS
in cars.
 Processes Involved:
• App Development

• Company registration

• Hiring interns , marketers, accountants

• Advertising(Social Media, banners)

• Final launch
Innovation & Market
Research
• Invest in R&D in order to keep up with the
need of innovations and the customers.

• Satisfying collaborators at all times.

• Assign different people for different tasks for

consistency
 DISCLAIMER

Created by Mihir Parikh, IIT Bombay,

during a marketing internship by Prof.
Sameer Mathur, IIM Lucknow.