Market Research for Smarter Transport Solutions.
A transportation startup looking to introduce eco-friendly mobility solutions in Lagos State in need of research to validate their initial focus on electric buses as a sustainable alternative to traditional road transport.
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The company needed to validate its business idea before launch. They required insights into commuter preferences, regulatory considerations, and market demand to ensure their investment aligned with real transportation needs in Lagos.
To assess the viability of the client's initial plan for electric buses, we conducted a thorough market gap analysis. This involved studying existing transportation options, commuter behavior, and infrastructure limitations. Through comprehensive market research, we conducted:
Commuter Surveys: Understanding travel behavior and openness to alternative transport.
Regulatory Interviews: Assessing policies and infrastructure support.
Market Gap Analysis: Identifying underutilised transport options which revealed that, while road transport in Lagos was oversaturated with traffic congestion and high operational costs, the waterways remained largely underutilised.
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Revealed that Lagos’ waterways were largely underutilised and held strong potential.
Changed the initial idea from electric buses to launching Gidi Ferry, a more viable and cost-effective transport service.
Significantly reduced startup costs while addressing a real commuter need.
Positioned the business for long-term success in a high-growth sector.
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“Our initial idea was to introduce eco-friendly buses (electric vehicles) but ZACRAC helped us unlock insight through their market research service. They conducted surveys and interviews with commuters and regulators in Lagos State and found out that the waterways are largely untapped.Gidi Ferry was birthed from this insight”.
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Ifeanyi
Founder, Gidi Ferry.
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