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Lyft Market Research
Transcript of Lyft 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?
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
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
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
“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