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The Market

Target Customers

  

ParkingPal will have a wide variety of customers ranging from teenagers to senior citizens.  Essentially anyone that is looking for parking will be able to utilize this app.  According to USA today New York, Los Angeles, and San Francisco have the top hourly search time when it comes to parking each year.  In New York the average search time is 107 hours per driver annually.  This number decreases as the list goes on although, our demographics are endless. You can be going to the beach, a sporting event, to work, a day in the city, you are going to need parking wherever you may go.  Our target market has potential to expand exponentially as we grow.  

Unique Selling Proposition

  

What makes this app unique is the two sided customer experience that people will be able to experience.  This app is going to attract both consumers and producers.  That is where our marketing will be established in this market.  Having the ability to create a producer in the parking industry is something that hasn't been done. Consumers will be able to find parking in any location and rent spots while producers will make money renting out their own spots to people that need them.    


One aspect of ParkingPal will be the ability to accept payments of cryptocurrency.  Over the past couple of years cryptocurrency has taken off.  We will allow the users to be able to accept cryptocurrency as a form of payment.  The user will be able to access their wallet and be able to pay by transferring crypto over to the rente.  Users will be able to accept different forms of cryptocurrency using coinpayments.net.  This will expand and the company does. A plug-in will be added to the app to accept these payments. 

Pricing and Positioning

  

To park for two hours anywhere in the United States can be anywhere from $6 to $33.  With that being said people traveling are paying a lot more everyday.  ParkingPal will be in the same range and normal parking the difference will be the cheaper parking that will be found from people renting out their own spots.  This will create more parking for a cheaper price.  Along with the ability to pay for the parking before you get to where you're going. We will be able to give the producer the ability to choose the parking price. Based on the area, location and volume of drivers we will give the user an average price for that area to base off of.  ParkingPal will position it’s pricing in the averages of parking based on location and volume.  We believe the ease, and convenience of our product is what will set us apart. For users renting out a driveway, pricing is going to be cheaper than parking in a garage or lot. It will be an easy way for users to make extra money while they have the open space.  This will attract users and enable them to find cheaper parking anywhere they are traveling to before they arrive. 

Distribution

  

This app will start as an IOS application that will be purchased from the Apple app store for free.  Users will be prompted to create an account.  In this account there will be information regarding the user, such as name, DOB, car, debit card, etc.  Users renting a spot will be able to be paid right through the app itself.  People renting the spot is going to be able to pay for it beforehand and receive a confirmation with barcode scanner for the users records of use. For major corporations and large parking lots, such as those lots for event parking there will be an application process in order to list event parking with 20 or more cars.