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Analysis of Market Potential and Business Model of Establishment of Automotive Parts Startup in the Digital Era With the Lean Startup Method

  • Institut Teknologi Sepuluh Nopember

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

In the rapidly evolving digital era, there is an increasing need for efficiency and innovation in the supply of automotive parts. The main problems are identifying potential market segments and developing a business model that can compete in this dynamic industry. The methodology applied in this study is a lean start-up approach that involves a build-measure-learning stage. This study aims to analyze the market potential and right business model for the establishment of an automotive part startup in the digital era using the lean startup method. The first stage is the development of an ((MVP) to obtain initial feedback from potential customers. The data obtained from this stage were then analyzed to determine the validity of the initial hypothesis and repeat the product. In addition, a comprehensive market study is conducted to understand consumer needs and preferences and to analyze market trends. The results of this study show significant market potential for automotive parts startups that integrate digital technology into their operations, which contributes to strategic recommendations for the establishment and development of startups in this sector.

Original languageEnglish
Title of host publicationICAAEEI 2024 - 1st International Conference of Adisutjipto on Aerospace Electrical Engineering and Informatics
Subtitle of host publicationShaping the Future Work for the Aerospace Technology in Science, Engineering, and Industry in the Disruptive Era
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9798331507930
DOIs
Publication statusPublished - 2024
Event1st International Conference of Adisutjipto on Aerospace Electrical Engineering and Informatics, ICAAEEI 2024 - Hybrid, Yogyakarta, Indonesia
Duration: 11 Dec 202412 Dec 2024

Publication series

NameICAAEEI 2024 - 1st International Conference of Adisutjipto on Aerospace Electrical Engineering and Informatics: Shaping the Future Work for the Aerospace Technology in Science, Engineering, and Industry in the Disruptive Era

Conference

Conference1st International Conference of Adisutjipto on Aerospace Electrical Engineering and Informatics, ICAAEEI 2024
Country/TerritoryIndonesia
CityHybrid, Yogyakarta
Period11/12/2412/12/24

Keywords

  • Automotive Parts
  • Business Model
  • Digital Era
  • Innovation
  • Lean Startup
  • Market Analysis
  • Market Potential
  • Minimum Viable Product (MVP)
  • Startup

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