Capital One's UniPool
If you live far from UT and lack convenient public transportation, daily car commuting can be challenging and inefficient. Using ride-hailing services for your daily commute can also become costly.
That’s where UniPool comes in—a revolutionary app designed to enhance student commuting through peer-to-peer car sharing. Leveraging AI technology, user-friendly features, and a solid revenue model backed by thorough market research. UniPool aims to make commuting to and from the university more affordable and efficient. By reducing costs by 30-40%, UniPool not only simplifies your daily commute but also fosters a strong sense of community among students.
ROLE
Product Manager &
Business Strategy
TEAM
1 x UX Designer & Researcher
1 x Product Manager &
Business Strategy Developer
1x UX Designer & Data Anlayst
1 x Business Strategy Developer
TIMELINE
4 Months
TOOLS USED
Figma
FigJam
Miro
PROBLEM SPACE
Our research revealed significant parking challenges and high costs for students at the University of Texas at Austin (UT). With over 50,000 students, around 27,000 rely on cars for commuting, while the rest depend on public transportation, which is often unreliable, or walk long distances since cab rides can be prohibitively expensive. Additionally, UT offers only about 7,500 parking spots for students.
50000
total UT Students
27000
students
rely on cars
7500
student parking
45%
of Gen Z are more inclined towards car free life style.
51%
of Millennials are more inclined towards car free life style.
The future of car ownership is uncertain. Will Gen Z and future generations be interested in buying cars and willing to cover expenses like maintenance and insurance?
High maintenance and operational expenses
Limited transportation options
Longer waiting time
Limited parking availability and high parking costs
Methodology
Throughout this project, I used Agile Methodology, keeping constant communication with the professor, guest speakers, and the VP of Capital One. I sought their guidance and approval before each phase to ensure alignment with strategic objectives. Agile Methodology allowed for quick iteration, adaptation to changing requirements, and seamless integration of feedback. This approach enabled efficient decision-making and fostered a collaborative environment for incorporating expert insights.
IDEATION
I started with extensive brainstorming sessions, exploring concepts such as autonomous vehicles and car sharing. While I knew I couldn't solve every problem, my goal was to mitigate them. I followed the Golden Circle Rule by focusing on the Why, How, and What, and identified the target audience. I decided to concentrate on students living far from campus and consolidated the ideas into key solutions for the design phase and business model development.
REQUIREMENT GATHERING
This step was crucial for the project as I needed to understand students' perspectives. To gather data, I conducted interviews and distributed surveys. After interviewing a few students and receiving positive feedback about UniPool, I aimed to reach thousands of students, both locals and commuters. Our survey was distributed in two batches:
The first survey sought to identify users' pain points, asking about commute duration, residence, daily travel methods, costs, and issues encountered. The responses confirmed that the idea addressed common problems students face daily.
The second survey targeted students who own cars, asking if they would be willing to give rides, their parking costs, and maintenance expenses. The mixed responses challenged me to address potential drawbacks of UniPool and refine the focus on specific areas.
MARKET RESEARCH
I reviewed numerous papers and articles to understand the Total Addressable Market (TAM) for car ownership solutions and their decline. User interviews helped identify pain points.
$17.62B
by 2028
$9.64B
2023
Market size estimates suggest the global carpooling market was around $9.64 billion in 2023 and is expected to grow significantly in the coming years, reaching $17.62 billion by 2028.
Competitor Analysis: I conducted an analysis to gain insight into the market's competitive environment. This strategic assessment enabled me to make informed decisions, pinpoint growth opportunities, and manage potential risks. Evaluating competitors' strengths and weaknesses provided key insights for gaining a competitive edge and ensuring long-term sustainability.
Quantitive Research: I found a 13.6% increase in annual car ownership and maintenance costs since 2022. Additionally, I surveyed students with commutes over 45 minutes to the UT campus, analyzing 42 responses to identify potential users and develop UniPool's revenue model.
PLANNING
After gathering valuable insights from students, I identified 'Carpooling' as a solution to address various challenges. Although the concept exists, effective implementation in the US market is limited. 'Safety' was a primary concern, especially regarding travel with unfamiliar individuals. To address this, I focused on UT students, leveraging their trust and assurance within the community.
At this stage, I set clear objectives for 'UniPool':
1
Reduce scheduling costs and promote community engagement.
2
Alleviate parking space issues, decrease fuel and toll expenses for drivers, and provide opportunities for passive income.
3
Improve transportation options for UT students, making it more mobile, cost-effective, and accessible for those facing travel barriers.
OUR SOLUTION
UniPool
The result of my efforts is UniPool, an application designed to transform student commuting through peer-to-peer car sharing:
Integrates AI technology and user-centric features.
Simplifies and reduces commuting costs to and from the university.
Features a robust revenue model supported by extensive market research.
Fosters a sense of community among students.
PROTOTYPE
WHAT DID I LEARN
01
Understand the 'why,' 'how,' and 'what' before tackling any problem to ensure a clear approach and effective solutions.
02
Market research, quantitative analysis, and numeric data are crucial for establishing a solid project foundation, understanding the product, and differentiating it in the market. They also aid in predicting future trends.
03
A comprehensive design system and reusable components are vital for streamlining development, maintaining consistency, and enhancing efficiency throughout the project lifecycle.