Marketing And Digital Marketing Management For Ingogo

Situation Analysis Recap

The aim of the report is to provide an overview of marketing and digital marketing management in the context of Ingogo (ingogo.com.au, 2018). Hamish Petrie found the company in the year 2011 and it specializes in the online booking of taxi and its payments. Ingogo is one of the first transportation service Australia that provides the riders with a fixed fair (ingogo.com.au, 2018). The cab drivers are able to process the fares using a tailored mobile application on their Smartphone. To avail the Ingogo service, it is necessary to have a credit card or Ingogo related business account. The service provided by the company is spread across Brisbane, Adelaide, Perth, Sydney and Melbourne. The discussion of the report primarily focuses on the Gogo car service put forward by the company which provides a concession of about 20 percent to the students and around 25 percent concession to the people over 60 years. The report commences with a recap of the situation analysis. The report also discusses about the targeting, segmentation and the position approach in relation to service provided. There is also discussion about the marketing and the financial objectives. The report also puts forward a detailed marketing mix strategy along with an overview of the budget allocation of the promotional mix.

Strengths

• Ensures the security of the bank details
• Ensures regular facility of driver
• Easier and accessible application for top up through the Gogo service
• Provides concessions for the students and the old people

Weakness

• Involves the plantation and the maintenance cost of device
• Although a reliable application but requires a system for its operation.
• Ensuring higher standards of the service

Opportunities

• Involves the process of hiring for the device design and application
• Strengthen the relationship with the old and the young age groups.
• Leads to the enhancement of the internet penetration

Threats

• Presence of competitive environment
• Lower amount of profit margins of the packages
• Higher level of cost for the newly introduced cards and other devices
• Involves an elaborate process of hiring followed by the development of the applications.

• Political: Sharing of the credit card details might lead to controversies and confusion.In this regard, the introduction of the Gogo card leads to an enhancement of the trust issues.
• Economic: The card along with its packages will be an additional advantaged which will increase the preference of Ingogo by the  other companies
• Social:  The concession provided to the students and the senior citizens leads to a stronger creation of bond.
• Technological: There are no other companies providing such technologically advanced card service for cabs. The service is enabled by a fast and updated internet.
• Legal: The service abides by all the rules and regulations related to the laws of data safety, technical usage law andlaws related to employee data safety.
• Environmental: The service causes no detrimental effects towards the environment.

The Ingigo which represents one of the fastest growing taxi apps that helps in putting the passengers directly in contact with the licensed cab drivers along with putting forward a platform for payment that is transparent and fair. The ability of Ingigo in seamlessly integrating with the business expense management enabled hundreds of bigger and smaller business of Australia in saving thousands of their dollars on travel. Ingigo introduces a Gogo card service along with a device in every variable that allows for a top up anytime and  anywhere without the need of sharing credit card details (ingogo.com.au, 2018). Although the service comes with various advantages but the problem statement lies in the acceptance and positioning of the card service in respect to the target market.

Segmentation refers to the division of the population based on shared characteristics while targeting refers to the choice of the specific groups identified as an outcome of segmentation for selling products (Boone & Kurtz, 2013). Positioning also refers to selection of marketing mix most appropriate for the target segment. There are four types of market segment which includes demographic, psychographic, behavioural and geographic segmentation (Cross, Belich & Rudelius, 2015). In case of Ingogo taxi service both the demographic and the geographic segmentations holds importance since the taxi service of Australia is aware of the areas to be targeted for the customers who expresses willingness of using a transportation service via app over the services offered by the public transport. This service is however not available in the rural areas. The payment platform and the taxi app put forward by Ingogo looks forward to rolling out the services that remains nationally ahead of expected initial offering to the public. Ingogo works on getting a robust pay system and certain allied activities behind scenes. The technology firms’ venture on the mobile apps, systems for the restaurants and hotels and the varied system acts solid for  rolling them out on a national scale.  

Segmentation, Targeting and Positioning Approach

The targets segment includes the upper class people of Australia including the students and the senior citizens (business.gov.au, 2017). The service will not only enable in saving time but is also safe and easy to use. There are attractive packages for attracting students who usually prefers buses and trains. The cheaper and the fair price of the Gogo card service facility will allow the senior citizens to travel in a comfortable manner.  In other words, customers can make use of an app for hailing, booking, paying and getting a receipt for taxi. The driver on accepting the job, allows the customers in communicating with them either through messaging and calling while tracking the movement of the car on the phone. Besides, the app also takes care of driver’s interest by putting forward a rating system for the passengers. The card service facility through concessions and various packages earns trust that helps in increasing the worth of the company (Shrivastava, 2016).

. The positioning of the product or service refers to the creation of a positioning concept that represents an expression of the benefit that the customers might receive from the product or the service (Lei & Moon, 2015). It also involves the differentiation of characteristics that sets the product aside from its competitors. Drawing in instances in this regard one can say that close to over 6000 taxi drivers across Australia uses Ingogo that accounts for about $200 million payments going through platform on a yearly basis that is about 15.5 percent in the booking market for taxis(statista.com, 2018). Ingogo in addition to a booking fee also accounts for a percentage of these payments. Therefore, the card service provided by Ingogo acts an opportunity for dominating the Australian industry and thereby ensuring a better experience for the drivers and the consumers (reuters.com, 2017). Besides, for servicing the business travellers, the Ingogo taxi service went into a partnership with the expense management solution thereby aggregating and simplifying the claims related to the travel expenses (ingogo.com.au, 2018).

These include:

1. 1. Building brand awareness: It is crucial when there is a launch of a new product or service. It also helps in driving the decisions of the consumers through differentiation between the competing companies (Huang & Sarigöllü, 2014). This can be ensured through segmentation of the branding efforts for targeting the highly specific audiences. It can also be achieved through retargeting of search results for establishing the recall of a stronger brand. Lastly, brand awareness can be built through prioritizing the social customer engagement.
2. Ensuring the Growth of the Market Share: The market share refers to the percentage that controls the entire market of the services and the products (Hewlett, Marshall, & Sherbin, 2013). Companies can increase their market share by adopting smart hiring practices through strengthening of customer relationships, innovation, acquiring of competitor and through the adoption of the smart hiring practices. Companies can enhance their market share through strengthening of customer relationship, employing the most skilled and the dedicated employees and by acquiring competitors.
3. Through Targeting Newer Customers: This involves incentivising the existing customers by bringing friends to the business through the introduction of ‘refer a friend’ scheme(Das, 2016). These schemes includes special offer or discounts for a person who convinced a friend for buying from the business. New customers can also be targeted by ensuring direct responses to marketing, building partnerships and by following up.

These include:

1. Maximization of Profitability: The objective of profitability depends on the profits, return on the investment and the profit to the sales ratio (Nagle & Müller, 2017). According to the objective, actions including the increase of the income and reduction of cost must be undertaken however the ones likely to have an adverse impact on the enterprise profitability must be avoided.

2. Maximization of Wealth: The objective of wealth maximisation represents a broadly recognized criterion for evaluating the performance of the business (Trinkfass, 2013). Wealth refers to net present value brought in by a product or service. Maximization of wealth represents the maximization of the present value. The net present worth refers to the difference between the gross present worth and amount of the capital investment necessary for achieving benefits. 

Three Marketing and Financial Objectives

3. Maximization of Value: The goal of a business lies in maximizing the present wealth of owners that includes the equity shareholders of a firm (Grant, 2016). The equity shares of a company are traded actively in stock markets and wealth of equity shareholders are represented within market value of equity shares. 

Price: This refers to the value attached to the product. It primarily depends on the cost of the production, targeted segment, supply demand, ability of the market in making a payment and various indirect and direct factors (Khan, 2014). There are various kinds of pricing strategies tied to the overall plan of the business. Pricing also acts as demarcation for differentiating and enhancing the image of the product, the Gogo card.

Product: This refers to the item sold. In this case it is the Gogo card service. The card service proves advantageous as it facilitates recharging anywhere and anytime with the help of an installed device(18). It also helps in avoiding the hassles of sharing the credit card details. Besides, the card service also assures substantial discounts to the students and the senior citizens.

Place: This refers to point of sale. Here, it spread across Brisbane, Melbourne, Perth, Sydney and Adelaide, the places where Ingogo spreads its service. In each industry, catching the customer eye and making it easier for them in accepting the service requires a place or a distribution strategy (Londhe, 2014). Sometimes even premium is paid for channelizing towards right location.

Promotion: This refers to the activities undertaken for making the service or the product known to the trade and the user (Andreti et al., 2013). This includes, word of mouth, advertising, incentives, press reports, public relations and special offers. The choice of the channel should be made in a manner so that it suitable for product, price and the end users. Promotion thus represents the communication aspect of entire marketing function.

The proposed Implementation of the Marketing Strategy includes:

Choosing a Distinct Strategy: To set the business apart from the competitors, it is vital for choosing the best strategy. Although there does not exists any magic formula for defining such strategy but there exists factors that helps in determining the strategy. It is also necessary to know the target prospects or the customers, their location, need, want, how, why and what time they require it. On collecting the information, the firm can develop the unique selling proposition (USP) of the Gogo card service facility that helps in fulfilling the need of the customers.

Description of Marketing Mix Strategy

Implementation of Strategy at the Right Time: On assurance of the choice of accurate unique selling proposition, the strategy can be implemented on a large scale. The task lies in putting the message across the market thereby making sure that the USP gets articulated in all the campaigns, marketing messages and the sales channels. Therefore, when the proposition starts working then it is necessary for using it in the concerned sector. This will help in achieving an unassailable lead over the competitors.

The changes in the market takes place at a baffling speed due to the presence of technology, fashions, customers’ tastes, influence of media and trends. To ensure the survival of the business in the 21^st century one cannot stand ideal. The key ingredient of implementing a marketing strategy lies in striving to discover newer and better ways for adding value to the customers while keeping the propositions unique to the chosen market.

Figure 1: Tabular Represenation of Budget Allocation ofPromotional Mix

Source: By Author

Conclusion:

On a concluding note, it can be said that Ingogo represents one of the fastest growing taxi App. The Ingogo ensures transparency in fare and allows a person to be in control. A person can not only choose the final fare based on the route. Fares are all inclusive and fixed.  Ingogo also enables a person in booking ahead and schedule whenever he or she wants to travel. Booking can however be done prior to 48 hours. The service ensures guaranteed pick up and is quite reliable. Ingogo also ensures a safety service with the installation of in car cameras and skilled and quality drivers. The service thus ensures safety to the users. The report here primarily discusses about the Gogo card service facility put forward by Ingogo. The service is meant for improving the standard of company and provides some benefit to everyone. The service also offers package deal to the senior citizens and the students, a service not provided by its competitors. The Gogo card service facility thus allows the customers to have a comfortable life at the cheaper rates. The growth of Ingogo is determined through its connection with the students and the senior citizens. Through the analysis of target market, marketing and the financial objectives, marketing mix, implementation of proposed marketing strategy and budget allocation, one can say that Gogo card service facility might prove to be one of the effective and the convenient service. In Sydney, consumer review speaks in support of service. The customers were too impressed with the service due to its lower prices and extensive hospitality.

References: 

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