Class Senior Project: Capstone 2
Year Fall 2023
RAD Rental
A new value proposition based on the sharing economy for Rad Power Bikes to enhance its brand sentiment and target new audiences
Project Type Business Development | Brand Strategy | Design Strategy | Marketing
Project
To address PR challenges Rad Power Bikes encountered, we ideated and designed a new value proposition for the brand – RAD Rental.
Aimed to help the e-bike company enhance its public perception and acquire new audiences, RAD Rental leverages the popularity of the sharing economy and a rising interest in micro-mobility. This peer-to-peer rental service extension to Rad Power Bikes empowers current RAD owners to generate income by renting their bikes to potential customers and draws in new patrons to the brand.
Challenge
Following a series of unfortunate events that included negative press stemming from product recalls, safety concerns, and a decline in market share, the brand experienced a significant blow to its public perception.
Our task revolved around developing an innovative strategy to reconstruct the once-trusted image of the brand and entice new customers to Rad Power Bikes.
Outcome
By leveraging the sharing economy's popularity and rising interest in micro-mobility, introducing RAD Rental was our solution — a peer-to-peer rental service extension to the brand. The platform empowers current RAD owners to generate income by renting their bikes to potential customers and avoids the expenditure of unnecessary resources for the brand. Our web/app-based platform would allow the brand to retain its current users, capture potential buyers, and engage a whole new customer base. We've created a comprehensive marketing and launch strategy alongside developing this innovative value proposition for the brand.
