Lit Motor Analysis
2013
LIT MOTORS
Talk about new start-ups, it is amazing to see what Daniel Kim has achieved so far with a budget well south of
$1 million. Since 2010, Kim’s team has logged countless hours developing the C-1 and the Cargo Scooter. In the process, they had secured a slew of patents and designed a compact manufacturing operation.
Question 1: Analyse Lit Motors’ strategy in December 2012
Lit Motors has a clear strategy in terms of what kind of products they are offering and who are the targeted consumer groups. However, in regards to how Lit Motors can move forward with its business plan and grow the company to the next phase, Daniel Kim and his team still have a lot of work to do. Let us further exam Lit
Motors’ strategy as of December 2012 in details below.
Markides’ “Who, What, How” Model Analysis
WHO
Lit Motors has identified two main groups of targeted consumers:
Generation Jones Cycle Enthusiasts
Young urban Professionals
Older men (Late 40s to Late 50s)
Earning over $100,000 per year
Held a motorcycle license and owned a cycle, or had in the past
Men or Women aged 25-35
Earning over $70,000 per year
Looking for an alternative second card, or replacing primary vehicle that is suitable for commuting and parking
WHAT
There are two main products that Lit Motors is currently developing:
C-1
Cargo Scooter (Later named as” Kubo”)
A fully enclosed, two-passenger, electricpowered, two wheeled vehicle that is equipped with two large gyroscopes that held the car upright, even in an event of collision Small in size, highly maneuverable in traffic, easy to park, extremely energy efficient
A low-priced, lightweight cargo scooter that could carry packages up to 200 pounds, and can fold down to a small parking footprint, which allow it to fit in an elevator and be stored indoors
HOW
So far, Daniel Kim and his team has done some preliminary market research and identified the targeted
LIT MOTORS
Talk about new start-ups, it is amazing to see what Daniel Kim has achieved so far with a budget well south of
$1 million. Since 2010, Kim’s team has logged countless hours developing the C-1 and the Cargo Scooter. In the process, they had secured a slew of patents and designed a compact manufacturing operation.
Question 1: Analyse Lit Motors’ strategy in December 2012
Lit Motors has a clear strategy in terms of what kind of products they are offering and who are the targeted consumer groups. However, in regards to how Lit Motors can move forward with its business plan and grow the company to the next phase, Daniel Kim and his team still have a lot of work to do. Let us further exam Lit
Motors’ strategy as of December 2012 in details below.
Markides’ “Who, What, How” Model Analysis
WHO
Lit Motors has identified two main groups of targeted consumers:
Generation Jones Cycle Enthusiasts
Young urban Professionals
Older men (Late 40s to Late 50s)
Earning over $100,000 per year
Held a motorcycle license and owned a cycle, or had in the past
Men or Women aged 25-35
Earning over $70,000 per year
Looking for an alternative second card, or replacing primary vehicle that is suitable for commuting and parking
WHAT
There are two main products that Lit Motors is currently developing:
C-1
Cargo Scooter (Later named as” Kubo”)
A fully enclosed, two-passenger, electricpowered, two wheeled vehicle that is equipped with two large gyroscopes that held the car upright, even in an event of collision Small in size, highly maneuverable in traffic, easy to park, extremely energy efficient
A low-priced, lightweight cargo scooter that could carry packages up to 200 pounds, and can fold down to a small parking footprint, which allow it to fit in an elevator and be stored indoors
HOW
So far, Daniel Kim and his team has done some preliminary market research and identified the targeted
References: Anon., 2013. Heroelectric. [Online] Available at: http://www.heroelectric.in/product-details.php?pID=4 Anon., 2013. technologicvehicles. [Online] Available at: http://www.technologicvehicles.com/en/details/1500/lit-motors-c-1-price-and-specifications Aston, A., 2013. GreenBiz.com. [Online] Available at: http://www.greenbiz.com/blog/2012/03/19/can-lit-motor-c-1-succeed-where-segway-failed Harrop, P., 2010. ElectricVehiclesResearch.com. [Online] Available at: http://www.electricvehiclesresearch.com/articles/two-wheel-electric-vehicles-a-bright-future00002049.asp?sessionid=1 Ingram, A., 2013. Electric Car Price Guide: Every 2013-2014 Plug-In Car, With Specs, North Yorkshire, England.: http://www.greencarreports.com/. Lavrinc, D., 2013. Wired.com. [Online] Available at: http://www.wired.com/autopia/2012/05/lit-motors-c1/