The Rank Of Fast Travels In Consumer’s Market

The rank of fast travels in the consumer’s market is a significant factor in the company’s profitability. Companies like Zipcar and Uber stand to gain the most from the convenience of fast traveling, which will only get more popular as self-driving cars become more prevalent.

ZippyCar achieved its first billion-dollar valuation at a mere $8 million by taking advantage of consumers who are willing to pay for reliable service but don’t want expensive maintenance costs or long commute times that come with having an automobile. It succeeded tremendously in getting people out of their cars and into shared vehicles, which helped it grow exponentially during its tenure on the market. Fast travel timescale fix is more the wish of some individuals than the need of consumers. But, there are a few circumstances that would generate demand for fast travel in the consumer’s market like, fare difference between two modes. 

If a person can save money by using an efficient mode of transport to go from one place to another then his/her purchasing pace may quicken. Another circumstance is availability of time in public transport systems as if there are no public transport systems at nearby locations. The next best alternative is to use three wheelers or four wheelers or otherwise get down to some faster mode by paying an extra amount. There is another reason which goes with long distance traveling.

The Rank Of Fast Travels In Consumer’s Market :

1. Fare Comparison

Fare comparison is the biggest factor in the consumer’s mind when it comes to buying auto for traveling long distances. It is one of the main focuses of airlines. For example in the case of airlines, if a low fare has been found from a particular airline but costlier than that from other airline, consumers may choose to take a low fare flight instead. So, stay away from adding extra margin as this may reduce quick travel time and could unnecessarily add unplanned expenses also just like with airlines there are no fixed charges in public transport systems as well where journey times are known beforehand.

2. Availability Of Time In Public Transport Systems

Another significant factor in the consumer’s market is the availability of time in public transport systems. If there are no public transport systems available at nearby locations then the public will resort to faster modes like three wheeler or four wheelers or otherwise get down to some faster mode by paying an extra amount.

3. Future Prospects

The third important factor in the consumer’s mind is the future prospect in which they see. For example if an individual is willing to invest or involve themselves in any business venture but on the other hand has a budget constraint at that time then a fast travel option by electric vehicles would be useful. If an individual has a long term plan in which he intends to travel long distances and needs to save money on traveling then electric vehicles may prove useful.If an individual has the budget limitation, then this will not be an important factor to consider as he would be forced to choose mode of traveling based on cost.

4. Availability Of Transport Systems In Adjacent

The fourth factor in the consumer’s market is the availability of transport systems in adjacent areas. This can be a reason for choosing electric vehicles over other vehicles which is a popular choice as it comes in cheaper range and can save up to 30% of cost when compared to other modes with the same speed that are generally used by people for traveling long distances.

5. Future Prospects In Electric Vehicles And The Importance Of Cost Savings

The fifth factor in the consumer’s market is future prospects in electric vehicles. This can be a reason for buying electric vehicles over other conventional modes of transport. For example the purchase of electric vehicles comes with lower costs if they are purchased in bulk. 

This will help in saving up to 30% of cost when compared to other modes with the same speed that are generally used by people for traveling long distances. Other factors like faster travel time and less maintenance cost also makes sense for people who travel long distances and are based on a cost saving concept; because faster travel time saves on fuel and need of maintenance also gets reduced along with reduction in running costs which results in saving money.

6. Traveling For A Long Distance And Unavailability Of Public Transport Systems

The sixth factor in consumer’s market is traveling for a long distance and unavailability of public transport systems at nearby locations. In this situation electric vehicles could prove useful as it’s travel time is faster, the cost of travel is low and there are no concerns over the maintenance. One can save up to 30% of cost when compared to other modes with same speed that are generally used by people for traveling long distances if they purchase electric vehicles in bulk but if they fit their budget constraint then also one can save up to 15% of cost.