[6 Reasons]Why Has Uber Achieved Success In Bangladesh?
f you think of Dhaka city, you may also imagine the busy, overcrowded roads of Dhaka city. Here, if you ask someone about the arrival time or the traveling time, then you will find two answers, one with traffic jams and another without traffic jams.
For example, if you want to go to person x’s house, who is your colleague, you may ask how far his home is, then you may get a reply like this “without traffic fifteen minutes and with traffic who knows!” These are some of the real-life scenarios of Dhaka city.
Despite Bangladesh’s being an overcrowded and densely populated country with a tremendous amount of traffic jams, Uber is regarded as one of the biggest successes. Why has Uber achieved success in Bangladesh? Today I am going to describe the 6 vital reasons.
History of Uber in Bangladesh
Uber started its journey in Bangladesh in 2016. At the very beginning, They had to face a lot of difficulties and hardships. Yet they tackle those hardships and became the country’s number one ride-sharing platform. Let’s find out how they did it and what they did to become the country’s number one ridesharing platform.
Why Uber Has the Most Market Shares In Bangladesh: 6 Reasons
There are several reasons why UBER is the most prominent ridesharing company. But among them, I am going to describe only those reasons which can be considered as the significant ones.
Single Dominance of CNG in Market
CNG has been dominating the market. Unfortunately, there was hardly anyone to regulate this matter. Since there was hardly any alternative, they were demanding high prices as a rental; the behavior was rude and also disagreed with going wherever the customer wanted to go.
All of these things made the customer a sufferer of the dominance of CNG drivers. The government many times tried to make a regulation, but most often, the government failed miserably.
High Rental Price of CNG
The price of CNG for a rental was very high. The number of CNG was not less than the demand, but there was a syndicate that made the passengers pay a high amount of rental. Passengers of different cast and creed had to suffer due to the excessive demand for CNG driver’s fair.
No Fixed Rate of traveling charge for CNG
There was hardly any traveling charge for CNG. There is always a rate given every single kilometer, but the CNG owners would barely maintain the quality. The passengers were the worst sufferers of CNG drivers.
Using of Referral codes
One of the biggest reasons for UBER’s being a success is the use of referral code. Referral codes have helped to engage and gather new customers in the long term. Also, Referral code has helped UBER to achieve customer loyalty.
One of the reasons for UBER’s success in Bangladesh is that they have a convenient and user-friendly price. The price of UBER was well justified by the users. Moreover, users not only agreed but also enjoyed and liked the pricing system of UBER.
Extra Income Opportunity
One of the biggest and major problems in Bangladesh is the lack of income opportunities. People who have money always don’t have the opportunity to invest. UBER has given the car owners an interesting opportunity to earn more.
On the other hand, It has also generated employment across the country. The number of people that are earning through UBER is not small at all. It has generated a massive number of employment opportunities throughout the country. We have seen people paying the semester fee by driving UBER while they’re on semester break.
Lessons that can be learned
Firstly, always look for opportunities that engage a lot of people. If the problem engages a lot of people then the idea itself will do the rest. So, always look for those ideas that will eventually engage a large group of people.
Secondly, always keep pricing in favor of people. Make sure people like the pricing. Try to keep a low-profit margin and higher sales quantity this will bring a fortune in the long term.
Finally, understanding consumer behavior is a must for each and every startups out there. There are many startups that became successful at the initial stage but failed later. If you don’t understand consumer behavior and act according to that, then you will fail surely. So, always try to have a grasp on understanding the consumer behavior of customers.
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