SUMMER TRAINING PROJECT REPORT

“A STUDY REGARDING AWARENESS OF

PEOPLE ABOUT THE APP AND SERVICES

PROVIDED BY PARKSMART

TECHNOLOGIES PVT LTD.”

Submitted in partial fulfillment of

MASTER’S OF BUSINESS ADMINISTRATION

In the

SCHOOL OF BUSINESS STUDIES

PUNJAB AGRICULTURAL UNIVERSITY, LUDHIANA

SUBMITTED BY:
KASHISH GUPTA (L-2020-BS-16-MBA)
 ACKNOWLEDGEMENT

I, Kashish Gupta, MBA Student in Punjab agricultural university, Punjab is highly grateful to all those
who have guided me in completing this project.
First of all, I would like to pay my heartiest thanks to entire family of Parksmart Technologies Pvt.
Ltd., especially, Mr. Rahul Gupta (CEO), who have provided me great opportunity to do Summer
Training and provided their valuable suggestions in understanding the work of Research Project.
I take the immense pleasure in completing this project. It was a great learning experience to be a part
of the great work culture. This project helped me in gaining the practical experiences which will help
in my upcoming future.
I would like to thank Dr. Babita Kumar for her valuable guidance and support throughout my work. I
am highly thankful to entire faculty of PAU for their support and kind attitude which helped me a lot
and made my project a success.
I would also like to thank my family members for their support and sympathy.

Signature:
Kashish Gupta
L-2020-BS-16-MBA
 ABSTRACT

With the rapid proliferation of vehicle availability and usage in recent years, finding a vacant parking
space even in multi floored parking space is becoming more and more difficult, resulting in a number
of practical conflicts. Parking problems are becoming ubiquitous and ever growing at an alarming rate
in every major city. Widespread use of wireless technologies paired with the recent advances in
wireless applications for parking, manifests that digital data dissemination could be the key to solve
emerging parking problems. Wireless Sensor Network (WSN) technology has attracted increased
attention and is rapidly emerging due to their enormous application potential in diverse fields. This
buoyant field is expected to provide an efficient and cost-effective solution to the effluent car parking
problems.
 TABLE OF CONTENTS

S. No. Contents Page No.

Chapter 1 Introduction 5 - 14

Chapter 2 Objectives of the Study 15

Chapter 3 Research Methodology 16-17

Chapter 4 Data Interpretation & Analysis 18-23

Chapter 5 Findings 24

Chapter 6 Limitations 25

Chapter 7 Suggestions 26

Chapter 8 Conclusion 27

Bibliography & Annexure

 Chapter 1: INTRODUCTION

Recent increase in the growth of automotive industry coupled with the perpetual demand of commuters
urged the need for better and smarter parking mechanisms. Though lot of researches were conducted in
this area, most of the existing parking management systems rarely address the issues of parking space
management, vehicle guidance, parking lot reservation etc. Majority of these systems have control at
the entrance & exit and use vehicle detectors as an essential element to provide smart parking. Though
inductive loop is one of the most widely used detectors today, it includes various problems in
installation and maintenance which might disturb the Donnal operations of parking.

The widespread use of wireless technologies paired withthe advancement in wireless

applications for parking implies that digital data dissemination could be the key for resolving the
growing parking challenges. WSN have a great potential towards providing an easy and cost effective
solution to this credible application for various reasons. Ease of deployment in existing parking lots
without excavation and expensive cable installations has increased our attention towards wireless
sensor network technology.

Flexibility to couple with sophisticated but cheap sensors that can accurately detect
vehicles' makes WSN a natural candidate to solve the emerging car parking problems. Wireless sensor
network usually -- consists of a large number of nodes that are deployed in the sensing area and are
equipped with different kinds of sensing, computation and communication units. These functional
units enable WSN nodes to cooperatively collect, process, and transmit infonnation to the sink.
Compared with the existing parking management systems. Smart PARKing (SPARK) solution based
on wireless sensor network technology. The proposed system is capable of monitoring & managing
individual parking spaces, providing automated guidance and advanced reservation services as well.
Unmanned vehicle driving systems have been developed by famous auto mobile companies for years.

Regardless of the issues of laws and regulations, there still have many technical issues,
such as navigation, combination with Geographical Infonnation System (GIS), and real-time
monitoring of surrounding environment. One of the key technical issues is how to acquire the current
position of the vehicle accurately. Making good decisions can often mean the difference between life
and death. In order to make critical decisions, people must be able to assess their current situations and
have access to pertinent infonnation that addresses variables upon which these decisions are based.
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 By increasing situational awareness, individuals are able to make decisions faster and
more effectively.This is especially important in emergency response and military operations, where
time and quality information are of the essence. Car-park management systems operate by monitoring
the availability of car parking spaces and making that infonnation available to customers and facility
administrators.
Customers use it for guiding them in their choice of parking space; administrators use it
to aid in overall management and planning. Sensor networks are a natural candidate for car-park
management systems, because they allow status t.o be monitored very accurately - for each parking
space, if desired. Wireless sensor networks have the advantage that they can be deployed in existing
car-parks without having to install new cabling for network and electricity to reach each sensing
device.
For this reason, wireless sensor networks also have use for road-side car-parking. a
smart parking service based on wireless sensor networks and mobile phone application for vehicle
.drivers. We have designed and implemented a prototype system of smart parking services that allows
vehicle drivers to effectively find the vacant parking spaces, both in outdoors and indoors
environments.
A few existing solutions focus on parking lot applications using sensor technologies,
such as magnetometers and video cameras. However, magnetometers are very sensitive on
environmental factors, as a result of which their detections are not always accurate. Moreover, since
magnetometers measure the change in magnitude and direction of Earth's magnetic field caused by the
presence of a vehicle, they need to be placed at close proximity to the vehicle.

Although this might be possible near the entrance of a parking lot, it is very difficult to
place them in close proximity to vehicles on upper floors simply because there are typically no
entrance marked for upper floors and vehicles move at relatively higher speeds than near the entrance.
On the other hand, video camera based solutions are energetically expensive and they can generate a
large amount of data which could be very difficult to transmit over multiple hops in a
wireless environment. These disadvantages coupled with the fact that there are other objects moving in
a parking lot, such as humans, greatly reduce the applicability of only one type of sensor technology,
i.e., only magnetometers or only video cameras for cheap and accurate parking lot management
solution.

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 COMPANY PROFILE

ParkSmart - an IoT platform enabling Smart Parking Management in buildings, malls, institutes, and
cities, having 400+ operational locations with average monthly revenue INR 10L - is looking to raise INR
2 CR having soft commitment of INR 10L.

The Idea, Business Model and its USP

Idea: ParkSmart provides an integrated IoT based platform to ensure that all the entry and exit
checkpoints and the parking areas are digitized and automated. The stakeholders involved are the site
owners/contractors, site operators/guards, and the end-user. We make it possible for all of them to interact
with a single platform and allow easy entry/exits and also enhancing the security of the site. We are in the
B2B space currently where we provide our solutions to malls, hospitals, institutes, and parking
contractors.

USP and unfair advantage: We help parking lot managers in reducing the liquidity crisis they
face. We try to bring them on a revenue-sharing model by handling their daily operating expenses.

Also, we don’t sell individual products or even our platform, we sell dedicated systems for each of our
clients such as institutes, malls, corporates, etc. We believe that it’s not difficult to buy any of these
products from the market, what differentiates us is the interoperability and ease which we connect these
products to our platform.

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ParkSmart gets featured by the Indian Institute of Technology, Delhi for developing a smart parking
solution enabling users to book a parking spot. We aim to digitize and automate the parking industry by
empowering the parking operators as well as end-users.

Products: They provide a wide range of customized solutions according to the need -

For Institutes: We provide our Smart Parking platform which interacts with the necessary hardware
implements to create an automated ecosystem. These hardware implements include ANPR integrations,
ParkSmart platform enabled boom barriers, speed violation camera system.

For Corporates: Our automated RFID entry/exit system provides smooth hassle-free movement for
vehicles. It also allows for automated payments through the RFID cards which makes it easy for the daily
commuters to keep track of their billing cycle.

For Malls: The solutions available for malls ranges depending on the size of the mall. It includes our
Smart Parking Platform which is connected to ANPRs, boom barriers and LED display units. At malls,
we also provide RFID related customizations for daily commuters like the shopkeepers and staff, etc. We
also provide services such as e-valet, slot booking of parking slots by users, sensor-based parking
availability, etc.

Growth/traction achieved till date

Traction -
Patna Municipal Corporation - 74 locations & 148 licenses
BMC (Mumbai) - 15 locations & 48 licenses
Har ki Pauri Haridwar - 12 licenses with a daily flow of around 5000 vehicles
IIT Delhi - an entire ecosystem built by ParkSmart for a vehicle entering the campus
Plus Offices - Corporate Park - RFID Automated solution
We’re live in 100+ locations as of now, some of them have been listed above. Our average
monthly revenue is INR 5L.

Business Model: Their business model is as follows:

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Revenue Source Revenue Profit Margin Time Period
Type
ParkSmart IoT platform Recurring Variable  Monthly/ Annual

PoS Device One Time 30-60%   

Boom Barrier One Time 40-60% 

ANPR cameras One Time 30-50% 

Speed Sensors One Time 30-50% 

Ticket Dispensing One Time 20-30% 

Machine

Thermal Paper Recurring 30% Weekly

NFC cards/ RFID tags One Time 40-45% 

Open APIs Recurring Variable Monthly/ Annual

Team profile and team member expertise-

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Rahul Gupta | CEO 

B.Tech., IIT Delhi

Former Analyst at Axis Bank

He has worked with various student organizations in IIT Delhi as their sole tech
person to develop the entire backend system. He has started a couple of ventures in
his college both generating significant traction and generating a combined revenue of
more than INR 50L.
He has over 5 years of experience in business development across different platforms
ranging from entrepreneurship to Axis Bank.

He manages all the legal, financial work associated with the startup. He also leads all
the departments and is the sole person looking for investment opportunities.

Rishabh Nagpal | COO 

B.Tech. and M.Tech., IIT Delhi

Former Analyst at Goldman Sachs

He was the best all-rounder amongst graduating students at IIT Delhi, 2019.  He was
also given a cash award for being the student with the best CGPA, leadership skills,
and extracurricular activities.
He demonstrated his extraordinary leadership skills as the General Secretary of the
cultural board of IIT Delhi and also the Overall Coordinator of the cultural festival,
Rendezvous.

He takes care of all the after sales and on-ground operations. He also specifically
focuses on generating leads from malls and corporations. 

Vishva Sharma | CBO 

B.Tech., IIT Delhi

Co-Founder Quadrotian, a travel startup

He was responsible for UI/UX in Rendezvous, Cultural fest of IIT Delhi. He was also
the Director of the Entrepreneurship Development Cell of IIT Delhi. He was involved
in many ventures throughout his college life and was selected for the Design
Innovation Fellowship funded by the  Ministry of HRD. awarded to only 5 startups
from the graduating  batch of IIT Delhi.

He helps in setting the right business strategy and creating a market fit product. He
also is solely responsible for the UI/UX of all our web and app tools. He specifically
focuses on generating leads from institutes.

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 Prateek Garg | CTO

B.Tech., IIT Delhi  

Former Engineer at Qualcomm

He has worked in Embedded Systems at Qualcomm as an Engineer for 1.5 years. He

has a vast experience of 5 years in delivering creative, client-centric tools with value
driven solutions. He has expertise in Android Application Development which helps
him to focus on enhancing IT operations and software development practices.

He is into the core development of all our products and their rigorous testing.

Ratan Sethi | CMO

International Business MBA, IIFT

He has over 6 years experience in the domains of business growth, product

development, social media marketing. He has been CMO and brand manager in
different organisations. He was also the Entrepreneurship Head and Marketing Club
President in his college. Before working with ParkSmart, he was able to raise his
social media marketing agency to a 6 figure revenue in a short duration of 10 months.

He is responsible for online marketing. Other major responsibilities include

generating and retention of leads from various government bodies, MCD contractors,
etc.

THE START OF OUR STORY-

Four of us were in the same hostel at IIT Delhi. We have been friends for the last 6 years and it has
been an amazing journey. We met Ratan in our final year when he was separately working in the same
domain and considering his excellent skills, we thought it would be great to have him on board with
us. 
Each of us adds a different flavor to the recipe we are working at and given the respect and care we
have for each other, we believe that nothing can stop us from achieving our goals. 
Being brought up in the city of Delhi, we people realized that parking is one of the biggest challenges
that we face each day. There is a dire need to solve this problem. Our on-ground research along with
hands-on experience at the various parking we operate at gives us the confidence to claim that we have
expertise in the domain.

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High level projections, future strategy & expansion plans   

We wish to venture into a lot of diverse areas. 

Generating High Recurring Revenues:

Generating a high recurring revenue from institutes, malls in India and abroad. The best part of
institutes and malls is that they include a  high one-time cost and good enough recurring revenues.

User Booking for parking slots:

We will be launching an advanced booking option for users to book the parking slot ahead of time.

Introduction of the Lease Model:

A lease-based model can be implemented in malls and MCD parking. A portion of the parking can be
taken on lease and can be let open for user bookings. This can help in enhanced revenues for the same
slot.

Expansion of the Product Line:

We have a series of products that are in the pipeline. An e-valet service at malls, cafes, and restaurants
to ensure faster checkout of vehicles to reduce the waiting times. We are also working on an
enforcement application to ensure that proper enforcement measures are being taken for illegal parking
of vehicles by users and operators. Other than this the advanced user booking app is also one of our
major focus areas.

Integration with FAStag:

A possible integration with FAStag for payments at parking locations through hand-held RFID
scanners will make it easy for the parking owners to collect and track payments. It also eases it for the
users to not deal with receipts and hassle of providing change to the operator. Moreover, the owner
need not worry about revenue leakages since the entire system goes digital.

Value-Added Services (VAS):

An alternate area of focus can be value-added services like EV charging infrastructure, car cleaning
services, car repair services, etc. Strategic tie-ups can be done with relevant players in these segments.
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Total funds needed now, it’s use and expected traction that would be achieved on
its burn

Total funds needed: INR 2 CR for 8-10months of operations.

Funds would be used in building technology, procuring hardware and for business development and
sales in multi-cities.
Our target would be to generate a traction of about 250-300 parking locations, 15 Malls, 20
educational institutions, 15 corporate houses.
We will also launch our user booking application 3 months from now. In these 8-10 months we would
generate a revenue of about INR 8 CR.
Currently we are present in 6 cities and 8 months post funding,we will be present  in 15 cities. We
have a strong network of vendors for PoS devices, ANPR cameras, security cameras, boom barriers
including Telpo, Sunmi, MSwipe, TimeWatch etc. These companies provide us with the best prices in
the market and also are ready to provide the hardware on a HaaS model. With the funding round, we
would like to procure the hardware directly from China at much cheaper rates.
We will be looking for a funding amount of INR 50-55 CR, 8 months from now to take our business to
an international level. This funding would be necessary at that time considering our traction and the
market potential. 

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  Main Services provided :

1. Parking management

2. Gate management

 Network

Currently app is operational in following areas-

1. Delhi

2. Noida

3. Gurgaon

4. Faridabad

5. Ghaziabad

6. Chandigarh

7. Dehradun

8. Bhopal

9. Mumbai

10. Bangalore

11. Haridwar

These cities carry out smooth functioning of our app.

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 CHAPTER 2
OBJECTIVES OF THE STUDY

Objectives of the Project

1. To study the level of People awareness about company services.

2. Through Which Media Peoples Comes to Know About this app.

 CHAPTER-3
RESEARCH METHODOLOGY

Research Methodology

This chapter is focused on the methodology used to achieve the objectives of the
study as given in chapter 1. It is imperative to decide upon and document a research
methodology well in advance to carry out the research in a most systemic and effective way.
Research Methodology is a way to systematically solve the research problem. It deals with the
objective of a research study, the method of defining the research problem, the type of hypothesis
formulated, the type of data collected, method used for data collection and analyzing the data etc. the
methodology includes collection of primary and secondary data.

Methodology is generally a guideline system for solving a problem, with specific components such as
phases, tasks, methods, techniques and tools. Research methodology is the way to systematically solve
the research problems. In simple word it describes the way the research has been carried out. It
includes overall research design, setting objectives, the format for data collection, the data collection
method, the sample design, the various tools and techniques used to present the data and last but not
the least the analysis procedure.

RESEARCH DESIGN:

A research design is an arrangement of conditions for collection and analysis of data in a manner that
aims to combine relevance to the research. A research design is a basis of framework which provides
guidelines for the rest of research process. It is the map of blueprint according to which the research
will be conducted. The research design used for this study is “DESCRIPTIVE DESIGN”. This design
includes surveys and facts finding enquiries of different kinds.

Sources of Data:

 Primary data: Primary Data is collected through questionnaire.

 Secondary data : Secondary data is collected through books and internet.

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Sampling Design:

 Sampling Area:

The area is limited to Parksmart Pvt. Ltd.

 Sample size:

The sample size of my project is limited to 100 only.

 Sample Techniques:

Data is collected through random sampling.

 Period of the Study:

The study has been undertaken during the period of 1st June 2021 to 15th July 2021 (45 days).

 Tools And Techniques:

With the help of pie charts.

Instrumentation Technique:

 Tools and Techniques of data collection

The questionnaire serves as a useful guide for the communication process and may be used with
survey research in any form whether the questions are in written or verbal form. Without a
questionnaire the interview has no structure.

 Research tool:

Sample statistical tool is this analyzed and expresses in terms of percentage. The information gathered
from the primary source would be analyzed by tabulating all information received. Conclusion and
interpretation of this study would then be made using various tools like graphs, charts and tables.

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 CHAPTER-4
DATA INTERPRETATION & ANALYSIS

Data interpretation is the process of reviewing data through some predefined processes which will help
assign some meaning to the data and arrive at a relevant conclusion. It involves taking the result of data
analysis, making inferences on the relations studied, and using them to conclude.

After data have been collected, now the task of analysis them. The analysis of data requires a number
of closely related operations such as establishment of categories, the application of these categories
to raw data through tabulation and drawing statically inferences.

The term analysis refers to the computation of certain measure along with search for patterns of
relationship that exist among data groups. Thus, “in process of analysis, relationships or differences,
supporting or conflicting with original or new data. After analysing the data, then stage comes to
interpret the results and findings on the basis of some theory. It is known as interpretation.

Analysis of Questionnaire

Here I have formed a questionnaire to study why People Awareness are important and what are their
impacts on the attitude of customers and what can company do in order to retain customer for long period.

Questions
All Questions are of objectives type. These are following questions in my questionnaire.

Analysis through Questionnaire

Q.1 Are you aware of the Parksmart app?

a) Yes
b) No

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 Selected option No. of respondents Percentage

Yes 75 75%

No 25 25%

Total 100 100%

no.of persons
yes no

25%

75%

Interpretation

According to these data it can be clearly said that 75% people know about the app .

Q.2 Through which communication media you came to know about this app?

1. Social Media
2. Internet
3. By Mouth

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 Selected Options No. Of Respondents Percentage (%)
Social Media 24 24%
Internet 36 36%
By Mouth 40 40%
Total 100 100%

No. of Respondents

24%

40%

36%

Social Media Internet By Mouth

Interpretation
The above result shows that most of the customers know about the app through Social
Media is 24%, through internet 36% and 40% people know through By Mouth.

Q.3 Have you downloaded the app after knowing about it?

a) Yes
b) No

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 Selected option No. of respondents Percentage

Yes 55 55%

No 45 45%

Total 100 100%

No. of Respondents

yes no

Interpretation
This data shows that 55% of people have downloaded the app.

Q4. Are you satisfied with the Parksmart app ?

a) Yes
b) No

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 Selected option No. of persons Percentage (%)
Yes 75 75%

No 25 25%

Total 100 100%

no.of persons
yes no

25%

75%

Interpretation
From the above result 75% people are satisfied with the parksmart app .

Q5. Would you advice your friends to download the app ?

a) Yes
b) No

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 Selected option No. of persons Percentage (%)

Yes 78 78%

No 22 22%

Total 100 100%

No.of person
yes no

22%

78%

Interpretation

This result shows that customers are in the favor of refereeing the parksmart app to their
relatives and friends.

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 CHAPTER- 5
FINDINGS

Findings of the Study

I started my survey with some sincere efforts was quite successful to obtain information from
respondent regarding the app. The findings of this report are as follows:

 In the first finding is clear that 75% of the respondents are aware about the parksmart app.
 Most of the people says that they come to know about this app by someone’s reference.
 Some of the people came to know about the app through social media and internet.
 55% of people says that they have downloaded the app after knowing about it.
 Many of the people are satisfied by the app.
 Approx. 78% of the people said that they will refer the app through others.

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 CHAPTER-6
LIMITATIONS

Limitation of research:
1. Some respondents did not provide the full data.

2. There may be some biased responses from the respondents.

3. The study is based on limited sample size.

4. In a rapidly changing industry, analysis on one day or in one segment can change very quickly.

5. Some people find it difficult to operate the app and understand it.

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 CHAPTER-7
SUGGESTIONS

 Many of the people are not much aware about the app.
 The customers which are not satisfied with the app, the company should study them and make
improvement in the app.
 They should work on their advertising and promotion of the app and should provide more
information which will help the customers and will be good for their marketing.
 Their presence on other social networking sites is not to a great extent. Few of them don’t even
have their pages on any other social media platform. If the customers are aware about them, their
outlets, etc., marketing is like an icing alluring them to try the products.

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 CHAPTER-8
CONCLUSION

To sum up, it’s being concluded that this forgoing summer training was really good and
knowledgeable task. I really learned a lot out of this session and was an amazing experience.
In this project I have study about the people awareness about the Parksmart app. I found that
some of the people are aware about this app.

From the data analysis and interpretation conclude that some people are satisfied by the app.
Most of the people are aware about the app.
 BIBLIOGRAPHY

https://www.linkedin.com/posts/parksmarthq_
https://www.parksmart.in/
www.accounting4management.com/
www.cliffsnotes.com/.../Ratio-Analysis.topicArticleld-21248,articleld...

En.wikipedia.org/wiki/financial ratio

www.hindhu.com

www.punjabgovt.in

https://blog.getmyparking.com/
 ANNEXURE

FIRM NAME:

CONTACT NO:

AGE:

ADDRESS:

EDUCATIONAL QUALIFICATION:

1. On overall basis how satisfied are you with the parksmart app?

(a) Highly satisfied (b) Satisfied

(c) Neutral (d) Not much satisfied

2. How satisfied are you with the services provided at different parking lots?

(a) Highly satisfied (b) Satisfied

(c) Neutral (d) Not much satisfied

3. How satisfied are you with the website?

(a) Highly satisfied (b) Satisfied

(c) Neutral (d) Not much satisfied

4. Rate the performance of app and services.

(On the basis of knowledge of products, services & policies)

____________________________________________________
__________________(any comments)_____________________

5. How satisfied are you with the advertisements of the co.?

(a) Highly satisfied (b) Satisfied

(c) Neutral (d) Not much satisfied
 6. How satisfied are you with interactions of management with customers?

(a) Highly satisfied (b) Satisfied

(c) Neutral (d) Not much satisfied

7. Where will you place C&D in comparison to other apps like parkingrhino, park+ etc.?

(Rate app on scale of 1-10 with reasons)

_______________________ ___________________________

__________________________________________________

__________________________________________________