The Institute Lecture Series for the Academic Year 2017-19 at the Institute of Management, Nirma University successfully kicked off with its first lecture on ‘Operations Management in a Startup Culture’. We were graced by the presence of our esteemed guest, Mr. Sreejith Hrishikesh, Vice President – Operations, Zoomcar India. Mr. Hrishikesh is a mechanical engineer from NIT, Calicut and also an alumnus of IIM Ahmedabad.
In this interactive session, he shared his insights on the rapidly growing taxi industry in India. Zoomcar, carves for itself a niche market in ‘Self-Drive’ sector, being the first and the largest car rental company in the country. He briefed us about how in the inception stage, Zoomcar faced certain difficulties being a new concept in the market. What started as a small startup with 7 cars operating from 1 site is now a company that owns a fleet of more than 3000 cars operating across 25+ cities.
After briefing the audience about the overview of the company, he further explained how Zoomcar is different from other car rental services, be it affordability, ease of booking a car using the mobile application, or the comfort it offers to its customers of riding independently. He also told us how with time, depending upon the market requirements, cars from all segments have been added to the fleet, be it a Hyundai or a Mercedes.
‘At Zoomcar, we believe in providing customers the experience.’
Then, he shared with us information about the working model at Zoomcar. He explained how the company utilises ‘Just in Time’ approach for maximum customer satisfaction at low costs to the company. This approach is successful due to varied customer behaviours across different cities. Then, he told us about the revenue model at Zoomcar. Almost 70-80% of the business came from the target segment of 20-35 years who book affordable cars in the Hatchback and Mini SUV Segment. They follow a real time booking system at Zoomcar in order to ensure a hassle-free experience for its customers every single time. Also, there is no compromise made on safety at Zoomcar. A real time car tracking system called ‘Cadabra’ is adopted at Zoomcar. Shedding some light on the customer segments, he told us how the company is working to rope in more female customers in order to tap the untapped market segments.
Then, he shared his views on the recent developments and innovations the company is working on. Zoomcar has recently started a new initiative called ‘ZAP’ wherein the customers can share their owned cars and make money out of it. Zoomcar guarantees the safety and real time tracking of the owner’s car. Zoomcar is also expanding on various routes under its scheme of ‘One Way’ wherein a customer can rent a car for a to and fro trip on certain road routes across India. Mr. Sreejith also told us about a new segment they are working on i.e ‘PEDL’ – a Bicycle Renting Scheme; keeping in mind the eco-friendly trend.
The session ended with a brief Q&A round between Mr. Sreejith and the students. It was a value addition session and provided us with an insider’s perspective on the working model at Zoomcar which would definitely help us in real life application of the theories taught in classroom.
This article is contributed by Gunit Sahni and Srishti Bhuwania –
Media Committee, IMNU.
Picture Courtesy : Pratikriti – The Photography Club