AUGUSTUS – ROUND 2

Background
Speed-o-mets is involved in renting two-wheeler and four-wheeler vehicles on
subscription and pay-as-use methods and now it wants to restructure its business
model and get its operation online. It is also looking into other options
(consumer/commercial products) that can be given on a rental basis. This
paradigm shift requires businesses to evolve in numerous ways, starting with the
identification of new products and shifting internal operations and financial
models alongside external value propositions, communications strategies, and
sales tactics.

While the concept of renting is anything but new, recent years have seen an
expansion of products traditionally bought and kept by consumers now
available for rent.
Rentalization refers to the process of shifting from traditional ownership
models, where individuals or businesses purchase products outright, to rental
models, where products are leased or rented for a specific period of time, on a
subscription basis or pay-as-use model. From consumer goods such as clothing
(formal wear) and appliances (scooters to furniture) to commercial goods, such
as equipment and machinery, rental products promote access over ownership,
providing consumers with an often easier and cheaper alternative to purchasing
something outright. In return, rental models allow companies to extend their
customer relationship from one-off products to long-term service.
Task:
1. Participants must come up with innovative products (a minimum of 2)
which can fit the criteria of Renting.
2. Research the renting industry of the product chosen. Identify the target
segment and build a pricing model followed by a proper marketing plan in
place.
3. Also highlight the importance of renting in the bigger picture of
sustainability.

Bonus Point:
Think outside the box and come up with a model that is both practical and
sustainable.

SUBMISSION:

• The submissions need to be in 2-3 slider ppt/pdf format (excluding title,

thank you page, and annexures).
• First page/ title page must contain the team details.
• Submission deadline: 12th February 2023, 11:59 PM IST
• For any queries contact:
Devyani Parate: 9623647231