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Lyft Market Research

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Richard Sargent

on 4 February 2014

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Transcript of Lyft Market Research

Market Research

Define Objective & Research Needs
Making a special experience
Who should Lyft be catering to?
What are their needs?
Designing the Research Process:
Types of Data
Primary data: data collected from first-hand experience

Secondary data: data mining, social media, & crowdsourcing

What data is most beneficial for a company like Lyft?
Data Collection
Scour databases for existing data, search for ownership data

Primary data: in-depth interviews and surveys

Secondary data: public transportation records

Pick-up and drop-off points are recorded, and drivers receive ratings based on how the Lyft experience was
Analyzing Data
Identify key points in all internal research data

Sort through secondary data and select issues that relate to Lyft and the ridesharing industry (safety, atmosphere of the ride, comfortability, cleanliness, etc.)

Properly grasp the importance of specific transportation aspects for commuters
Action Plan
Construct a plan of action for marketing their service based on consumer needs

Distinguish their particular service from other competitors

Offer a strong value proposition to their target market
Stephanie King
Alex Cummins
Evelyn Rangel
Richard Sargent
“One of the most important strategies Lyft put into practice while attempting to break into an emerging market was to identify an existing competitor’s weakness, and exploit it fully.”

- Adam Hausman
Building a community through ridesharing

Cheap, convenient, community-based transportation

Social media as the sole medium for implementing their product
Full transcript