TURO:

Harnessing a dominant customer base.

-Jeremy Ralya
Dominance of the customer

Car-sharing services have taken full

advantage of the trend; dominance of
the customer. Across industries, there
has been a notable shift away from
ownership and into rental/ subscription
models. Customers are looking for
flexibility and convenience and Turo has
stepped in to provide an alternative to
traditional car ownership with a user-
friendly and customer-focused
experience.
Target Market Demographics
• Diverse Ages & Backgrounds
Psychographics
• Adventurous
• Urban dwellers • Convenience Seekers
• Travelers • Environmentally Conscious
• Tech-Savvy
Marketing Mix:

Product Price

• Peer-to-peer car-sharing app • Rates set by vehicle owner

• “Side hustle” in your pocket • Rates vary based type of vehicle, location, and duration of
• A diverse range of vehicle options to suit any preference or the rental
need • Rates starting as low as $25 per day

Place Promotion

• Online platform accessible via website or mobile app.
• Available globally
• Offers convenient delivery (Airports, Hotels, etc.)
• Promotional pricing & Discounts during select times of
years/ locations
• Referral programs attracts owners and renters.
• User Review system builds trust & promotes return
business.
• Boasts free cancelation policy (up to 24 hrs.)
Promotional Mix:
Advertising
• Digital ads: search engines, display ads, and social media
platforms.
• Social Media Presence (Instagram, Facebook, etc.)
• On-vehicle “Rent-Me” QR codes
Public Relations (PR) & Partnerships
• Turo + Universal : Book a Jurassic World Jeep Wrangler
• Turo + Netflix : Rent Wednesday Adam’s 1950 Cadillac
Hearse.
• Turo + Adult Swim: Take a spin in the Morty Mobile (Rick &
Mortey)
Promotional Pricing
• Digital Gift Cards
• Discount Promo Codes
• Loyalty Bonus rewards program (Travel 10 days and earn 1
day free)
PESTLE Analysis:
Government regulation:
• Regulation of peer-to-peer car sharing (Consider short-term rental bans in similar vacation rental industry.)
Political
• Changes in state insurance minimum coverage requirements.
• Changes to Tax laws ( Consider recent $600 Venmo IRS changes.)

Economic Economic Conditions:

• Overall economic health impacts consumer spending on services like travel and car rentals. Rising prices, cost of gas, etc. may limit customers.
Exchange Rates:
• Turo operates globally, and fluctuations in exchange rates need to be monitored closely.

Social Lifestyle Changes:* Shifts in lifestyle choices, such as urbanization, remote work opportunities, and 4-day work weeks all adjust needs for flexible
transportation options.

Technology Mobile Technology:

• Primarily Mobile app-based, reliant on mobile networks and wifi.
• Functionality continues to evolve, consider enhancements with onset of AI technology.
Data Security-
• Houses Personally identifiable information including, bank accounts, insurance policies, and addresses. Cyber security is critical to maintaining
trust.

Legal Liability Concerns: Accidents, insurance fraud, safety/cleanliness of the vehicle, as well as risk the lender’s personal opinions and actions might run
counter to Turo’s Vision.

Environmental Climate Change & Renewable Resources

• Increased awareness around environmental issues, may cause Turo to evaluate how much of their “fleet” offers high MPGs vs. large vehicles and
inefficient sports cars.
Recommendation 1: Airbnb Partnership

• Formalize a partnership with short-term rental giant

Airbnb, offering accommodation in 97.95% of the World.
(Motala, 2016)
• Offer bundle options modeled after hotels and rental
car companies.
• Allows host on either platform to package car &
accommodation for added profit.
• Streamlines existing PLACE features like convenient
delivery.
• Integration of both platforms GPS-enabled apps allows
for one stop shop vacation planning.
Recommendation 2: TuroGreen

With pressure mounting from legislators and

environmentally conscious consumers- Turo has the
opportunity to capitalize on the EV market with
TuroGreen.
• Offer incentive pricing to consumers for choosing an
all electric option.
• Offer premium to hosts who car-share select all-
electric brands like Tesla or Rivian.
Stay ahead of the curve-
• In California – by 2035 all new cars and trucks sold
must be fossil fuel free. (Freedman, 2022)
Recommendation 3: TuroHeavy
In the spirit of renting vs. ownership, Turo has the
opportunity to branch out and offer individuals the
ability rent out heavy equipment and other specialty
vehicles for short periods of time.
• Excavators
• Large Trailers
• Moving Trucks
• Farm Equipment (Combines, Tractors etc.)
These vehicles are expensive to purchase up front so
the “share-app” would give everyday consumers
access but also allow hosts to recoup sunk
investment costs.
*2023 Cat 350 Excavator costs over $600,000 to
purchase new.
References
Caterpillar organizes customer meeting; showcases latest range of large hydraulic excavators: New building materials & construction world. (2023, Jun
30). Nbm & Cw, Retrieved from https://sienaheights.idm.oclc.org/login?url=https://www.proquest.com/magazines/caterpillar-organizes-
customer-meeting-showcases/docview/2832805917/se-2
Freedman, D. H. (2022, Dec 16). Will gov. gavin newsom's electric car mandate save the world or stall on the freeway? Newsweek, 179 Retrieved from
https://sienaheights.idm.oclc.org/login?url=https://www.proquest.com/magazines/will-gov-gavin-newsoms-electric-car-mandate
save/docview/2753437880/se-2
Motala, M. (2016). The "taxi cab problem" revisited: Law and ubernomics in the sharing economy. Banking & Finance Law Review, 31(3), 467-511. Retrieved
fromhttps://sienaheights.idm.oclc.org/login?url=https://www.proquest.com/scholarly- journals/taxi-cab-problem-revisited-law-ubernomics-
sharing/docview/1806235141/se-2