Business Report: Shared Car Parking Market Analysis in Sydney CBD

This report provides a comprehensive analysis of the shared car parking market in Sydney CBD, focusing on a startup business named Minto Company. The report begins with an introduction to car shared parking, highlighting its benefits over individual parking systems. The main body of the report includes a detailed market research, examining the Australian market's high demand due to high vehicle usage and space constraints, with a specific focus on Sydney. It identifies the target audience, emphasizing segmentation based on income and driving habits. The report also outlines the cost infrastructure, differentiating between various parking types and detailing the costs associated with building a parking lot. Furthermore, it presents marketing objectives, including mission, vision, aims, and marketing channels. A situation analysis, including SWOT and PEST analyses, provides strategic insights into the company's strengths, weaknesses, opportunities, and threats, as well as the political, economic, social, and technological factors affecting the market. The report concludes with a summary of the findings and references used.

Shared Car Parking in
Sydney CBD

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
The market...................................................................................................................................1
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Car shared parking refers to the method or system in which property owner do agreement
with parking provider companies and share their parking lot with them in order to reduce the
parking spaces for the individuals parking space (Dowling and Kent, 2015). It is much better
than individual parking system.
Present report will do analysis the market in which market research, target audience, cost
infrastructure, statistics, marketing objectives and situation analysis are included.
In this report, there is a start up business namely, Minto Company who will provide
parking lot services in Sydney.
MAIN BODY
The market
Market research
In case of the car shared parking market, Australian market is considered to be number
one country in the world due to high parking lot, high vehicles users and lack of space (Porter
and et.al., 2018). Sydney is high population city in the Australia which around 20,000 people are
using 805 vehicles. These vehicles are required to be parked somewhere. If they park it
anywhere, they can land into legla problems. But due to lack of space problems in parking lot,
they are not able to properly park their vehicles. Also, due to increasing the numbers of vehicles
users, population of the Sydney face environmental issues. In order to reduce the parking
problems and environmental issues, company are contacting with municipals of Sydney and do
contract with them to provide larger parking space. Here, the market of car shared parking born
which is now increasing and making cities of Australia clean and proper.
Target Audience
For the identification of the target audience, Company requires to analysis the customers'
preferences and accordingly segmentation of the customers. Here Minto Company will do
segment of the customers on the basis of their income level to get to know about the standard
price afford by the customers and then analysing the customers' preferences by taking feedback
from them. Also, they can segment their customers according to the active or non active driving
person. Along with the segmentation, they also can analysis the problems which they are facing
due to parking lots and lack of parking space. And accordingly, they can implement their
targeting strategies (Kent and Dowling, 2016). For the target, they will analysis their objectives.
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Minto will target non actively driving customers and low-medium income level customers. In
these segments, they will target youth, office going people and tourists. Now company wants to
target so many people which lead company to build larger parking lot with high quality and high
safety. The targeting strategy will help company to decide their marking strategies and plans in
order to attract their customers who are office going people, youth and tourists. If company is
able to target and attract them easily, it will lead company to achieve their marketing as well as
organisational objectives.
Cost Infrastructure
There are four types of parking infrastructure which are as follows -
On street Parking
It refers to the parking place which is available on the public road and can be use by
anyone.
Off Street Parking
It refers to the parking place which is not available on the public road but can be used by
anyone for limited hours.
Private Non Residential Off Street Parking
It refers to the parking space which is related to the particular building or corporation or
land such as office building or mall or park etc. It is only use by the visitor or employers or
employees or staffs of the organization. It can't be used by another parties, if they use it. They
might have to face legal actions (Glazebrook and Newman, 2018).
Private Residential Off Street Parking
It refers to the parking space which is related to the flat or house of the residents and they
are the one who can use these parking space.
Cost of Building Parking lot -
Cost of parking lots depends upon the size of the parking lots. Minto Company is
building larger size of parking lot which infrastructure costs are as follows -
Items Costs in A$
Labor Cost $50,000
Space Cost $20000
Infrastructure Cost $30000
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IT system Cost $40000
Security and Its related Cost $20000
Municipality costs $20000
Total Costs $2,00,000
Collect data and statistics
In Australia, Car shared parking system are most popular system which have now its own
industry (Meijer, Schipper and Huijben, 2017). In this industry, Sydney, Brisbane and
Melbourne are most demand able area, which are as follows -
Population of Sydney in year 2018 was 5.48 million which is expected to be 6.0 million
in 2020. This will lead to increase in the number of parking space.
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26.62%
43.31%
30.07%
Brisbane
Melbourne
Sydney
Illustration 1: % of number of parking space in high demand-able areas in Australia

Marketing objectives
MISSION
Minto Company's mission is to make Australian's cities more reliable and less rush
through sharing parking lots.
VISION
Minto Company's vision is to become the preferable company for the customers through
sharing great experiences regarding parking (Kent and Dowling, 2018).
OBJECTIVES
Minto Company's objectives are as follows -
 To increase the revenue by 5% till the end of year 2020.
 To enhance the goodwill of the company by the end of the year 2019.
AIMS
Minto Company's aims are as follows -
 To create a good, clean and proper parking environment
 To enhance the market value of the company
MARKETING CHANNELS AND THEIR OBJECTIVES
For the promotion of the company, Minto organization will choose some marketing
channels. Reason behind the chosen channels are as follows -
Online Advertising
Company will go for online marketing strategy. In this strategy, the focus will be on
online advertising method. Company can advertising their business by displaying their
advertising during games, YouTube, Websites of another companies and search engines etc. It
will help company to reach at the large online users which are increasing day by day.
On Site Marketing Company
Company will also go for On site marketing company (Fuller, Waitt and Buchanan,
2018). It will pay marketing company a particular amount for the purpose of doing marketing of
their business. The marketing company choose traditional as well as modern marketing
strategies. It will help organisation to gain attention of the customers and due to large network of
marketing company, Minto Company will get the benefits of the brand image of the marketing
company too.
Situation Analysis
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Situation analysis refers to the strategic analysis methods which is being used by various
companies and their managers in order to understand the impact of external and internal
environmental factors on the business. It involves SWOT analysis and PEST analysis.
Swot Analysis of Mingo Company are as follows -
Strength
People are becoming more conscious regarding pollution level, environmental issues and
parking problems which make population of Sydney to accept shared car business.
Weakness
Due to low customer base, new business and low brand image, company's costing for
running business will be high which can lead company to face loss (Dowling, Maalsen and Kent,
2018).
Opportunity
Mingo company can do partnership with car distributor company in order to gain
customers and market share.
Threat
Mingo company have to face a lot of tough competition in sharing parking market in
Sydney which is considered to be the largest market in Australia.
Pest Analysis of Shared Car Market are as follows -
Political Factor
There are various political factors such as political stability in the country, government
and its authorities' views towards business, government interfere, tax policy and monetary policy
etc. (Dowling and Maalsen, 2019).
Due to government support and facilities, these businesses are able to run its firm easily
which lead this industry to become boom in the Sydney as well as in Australia.
Economic Factor
Exchange rate, demand & supply pattern, pricing structure in the market, interest rate,
inflation rate, employment/unemployment rates and purchasing power of the customers etc. are
the examples of economic factors which affects the whole market and in turn affect the business.
Due to method of sharing vehicles by people, these methods are becoming affordable and
economical which lead to increase in the demand of this service and now companies are enjoying
their profits and stability in the market.
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Social Factor
There are so many social factors which are as follows – Demographic structure of the
country, education level, income distribution, age factor, family structure etc. These factors
affect the market of shared car in Australia which also influence the business.
Due to perception of customers towards environmental safety are changing which lead
them to accept the sharing parking methods and now it is one of the most successful industry and
business in the Sydney.
Technological Factor
Due to innovation and invention in information technologies and artificial intelligence,
there are a lot of changes happen in the industry which also lead to change the business.
Due to technological innovation, company are using their own mobile application which
lead them to enhance their brand image (Caicedo, Lopez-Ospina and Pablo-Malagrida, 2016).
CONCLUSION
From the above study, it has been summarized that Car shared parking system is a good
system which has been adopted by the Australia for the purpose of reducing the usage of
vehicles, optimizing the parking space and reducing the environmental issues. There are various
companies in Australia and Sydney who are working under this company and running their
organizational activities with ease. For the start up companies, they have to do a lot of market
research and think out of box in order to make their business successful.
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REFERENCES
Books and Journals
Caicedo, F., Lopez-Ospina, H. and Pablo-Malagrida, R., 2016. Environmental repercussions of
parking demand management strategies using a constrained logit
model. Transportation Research Part D: Transport and Environment. 48. pp.125-
140.
Dowling, R. and Kent, J., 2015. Practice and public–private partnerships in sustainable transport
governance: The case of car sharing in Sydney, Australia. Transport Policy. 40.
pp.58-64.
Dowling, R. and Maalsen, S., 2019. Familial mobilities beyond the private car: electric bikes and
car sharing in Sydney, Australia. Applied Mobilities, pp.1-15.
Dowling, R., Maalsen, S. and Kent, J.L., 2018. Sharing as sociomaterial practice: Car sharing
and the material reconstitution of automobility. Geoforum. 88. pp.10-16.
Fuller, G., Waitt, G.R. and Buchanan, I.M., 2018. The problem isn't dockless share bikes. It's the
lack of bike parking.
Glazebrook, G. and Newman, P., 2018. The city of the future. Urban Planning. 3(2). pp.1-20.
Kent, J.L. and Dowling, R., 2016. “Over 1000 cars and no garage”: how urban planning supports
car (park) sharing. Urban policy and research. 34(3). pp.256-268.
Kent, J.L. and Dowling, R., 2018. Commercial Car Sharing, Complaints and Coping: Does
Sharing Need Willingness?. Urban Policy and Research. 36(4). pp.464-475.
Meijer, L.L.J., Schipper, F. and Huijben, J.C.C.M., 2017, June. The roles of business models in
sustainability transitions: Car sharing in Sydney. In 2nd International Conference
on New Business Models: Exploring a changing view on organizing value
creation: Developing New Business Models. (pp. 72-76). Institute of Systems
Science, Innovation and Sustainability.
Porter, L., and et.al., 2018. The Autonomous Vehicle Revolution: Implications for Planning/The
Driverless City?/Autonomous Vehicles–A Planner’s Response/Autonomous
Vehicles: Opportunities, Challenges and the Need for Government Action/Three
Signs Autonomous Vehicles Will Not Lead to Less Car Ownership and Less Car
Use in Car Dependent Cities–A Case Study of Sydney, Australia/Planning for
Autonomous Vehicles? Questions of Purpose, Place and Pace/Ensuring Good
Governance: The Role of Planners in the Development of Autonomous
Vehicles .... Planning Theory & Practice. 19(5). pp.753-778.
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