Project Description
Express Car Rental Business Model & Strategy Development
ECR is a car rental company offering vehicles catering to individuals who cannot and do not want to utilize the national car rental companies. ECR operated for a couple of months without developing a comprehensive company strategy.
ECR needed to understand their market segment and learn how to engage effectively via channel relationships. ECR’s success depended upon a strong value proposition along with proper definitions and execution of activities, resources, and partnership to ensure growth.
Joseph Solomon began this engagement by providing ECR with a business evaluation form which took into account all aspects of the business. Thereafter, another questionnaire was provided to capture the current processes and activities ECR was performing.
The first meetings involved the development of a snapshot of ECR. This benchmark was utilized to develop the business model and strategies.
- RESEARCH
- Interviews, Observations and market research was performed to understand the type of clients ECR wanted to attract and behavior and habits of clients. Based on the results, a customer profile, relationship building and channel development were created.
- A value proposition was created based on the customer jobs and pain points.
- ECR’s activites, resources and partnerships were properly aligned to deliver the value proposition
- TEACHING
- Iterative process ensued to ensure a proper capture of the client’s expectation to the deliverable
- DOCUMENTATION
- Business Model Canvas: developed with information about each component.
- Marketing/Branding Strategy: Each component of the business model was expanded into actionable strategies. This created a narrative between the interconnected business components.
- Data Analysis: Rental Trend Data was developed which enabled management to make decisions of the type of vehicles to keep, sell or purchase for the rental fleet.
- COMMUNICATION
- JSMC communicated with the client via phone, text and emails.
- An electronic deliverable was provided to the client.
The project was scheduled for 3 months and completed within the allotted time.
The owner stated that he continues to keep the strategy document in his vehicle to study and keep himself on task. Moreover, Joseph Solomon has been retained to develop similar services for another business the owner is currently operating.
