The Challenge

The company was at the early stages of developing a unique technology to enhance car parking systems and experience.Prior to making further investments on product development, the company needed to unlock insights for maximising the commercial potential of this new business opportunity. This included gaining a thorough view of the market and competitive intelligence, shaping the technology and business proposition as well as developing the best approach for going to market.

Our Approach

The project was initiated by phases, beginning with obtaining a clear understanding of the product suite and its value propositions. This was followed by research to attain a comprehensive view of the car park sector’s dynamics including supplier and customer trends as well as current and emerging technologies in this space.Essentially, this exercise was aimed to develop a business case that demonstrated a sound rationale for investment in the market of interest in addition to testing the proposition against competitors within this space. Aligned with these, we assessed how the New Zealand and global market is likely to change, which included potential responses from car park suppliers, technology providers as well as users. We also provided recommendations for suitable business models and go-to-market plans, should the client decide to go ahead with further investments into this technology.

Outcome and Client Benefits

The company gained a clear picture of the market dynamics surrounding this technology which aided in further investment decisions.