Marketing Management For INGOGO: Segmentation, Positioning, Marketing Mix, SWOT

Segmentation, targeting and positioning approach

Discuss about the Marketing Management For INGOGO.

Trends in business and business cycle are continuously changing and varying as compared to last few years. Everything is becoming online and the facilities are indulging to create more convenience to the customers. Hence, there are many cabs and taxi companies which are coming up from which INGOGO is in a very good position in Australian market (Yu & Kim, 2018). The taxi provider firm has an online operating system through which it provides the services to its customers. Hence, a brief justification to the firm and its all other marketing related activities such as segmentation, positioning, marketing mix, budgeting for promotion, financial objectives etc. have been illustrated in this study. Also, there is a complete structuring of a plan for marketing management of INGOGO taxi services. There are changing trends in accordance to which the whole plan has been formulated and made. Many other factors which have been taken into account are justified in this section of research for INGOGO’S perfect marketing operations.  

As a taxi service provider in Australia INGOGO might have faced many challenges while settling down its business firmly. Changes are inevitable and every firm in its sector faces the same challenges which cannot be ignored (Kim, Park & Glovinsky, 2018). These are external as well as internal according to which restructuring and other potential activities in a firm are conducted. Likewise, while choosing a business there has to be the complete analysis of the market, population, strategies, and plans etc. so as to have success in operations. There are people of every age in the market but which are the most suitable for the company is a choice which has to be taken into account. INGOGO has to make it specific while choosing people for its operations. It provides taxi services so an analysis of the fact that who uses the taxi most has to be done.

On the basis of this analysis it has been encountered that there are people from various age groups who use the taxis, also the division is also in terms of groups of people, their usage etc. A data has been restructured upon which the company has segmented its target market. Hence, the market is divided upon the basis of age, groups, preferences, and rate of usage. There are people of various ages who are using taxis for various purposes like- going to offices, going to colleges/schools and some of them uses as they don’t have cars. So, primarily the demand of the market has to be ascertained by INGOGO so as to have a list of potential users. Further, the people on the basis of income use the taxi. As they may use every day and may use on the weekend. Basically, the age groups of people who are among 25-50 and 14-22 are being targeted by the taxi giant mostly as these people have been frequently traveling through any means of transport. Hence, segmentation of the company is clear that it has to target people from the section of the age according to their income and the facilities which they require for going here and there (Rezaei & Ortt, 2018).

SWOT analysis

After segmentation, the potential population has to be targeted by making proper budget and analysis of PPP (Purchasing Power Parity) of the people who have been taken into account by the INGOGO’S marketing research team. Pricing of the fares, facilities of the services has to be making an impact on the customers. Further, the online media’s for promotions and all the other marketing strategy has to be used. This will help the company to target the market with proper strategy after analyzing the plan. Through this people will be aware of the services of INGOGO and how it is different from its competitors in a market. People ought to choose the services of INGOGO after they have a complete description of the difference it gives in making people travel from one place to another.

The positioning of the services includes verifying the area where the services have to be rendered so as to get the best optimum result from it in terms of revenue. So, the areas where the segmented population lives and they are present have to be chosen as the area for positioning of the services which are being provided by the taxi company (Jelinek, 2018). This will help the firm to have more and more customers. The routes which are being most rushed and traveled by people of the population have to be taken into most preferences. This will further help the company to have an ease in launching the firm’s services. People would be attracted by this and they will prefer to use the cabs of INGOGO so as to move here and there. Through this people will feel more reliable on cabs as they will get cheap rates, perfect drivers, no parking issues as well as doorstep pickup which is a more convenient service provided to potential consumers.

Marketing is a broader term which includes various activities such as the promotion of products and services as well as selling them by doing optimum research and evaluation. Hence, it includes a lot of activities which has to be taken into account while setting an objective for the company itself. INGOGO is an online taxi booking app which is providing a means of travel to the potential customers in the market and has been excelling in its field. Further, it ought to have a marketing strategy and an objective to that strategy so as to target the market properly (Sécher et al., 2018). First of all the main objective of marketing is to promote the product or in other words to make people aware of the new services which have been launched in the market. This is mainly done through an already settled platform like social media, TV, newspapers etc.

Marketing and Financial Objectives

Hence, the main objective of this promotion is to sell the services of the company to the potential buyer in the targeted market so as to earn revenue. This will help the company to acquire the maximum share in a market as well as to have proper positioning of business. A goal of the company is to have the maximum number of people associated with it in terms of customers who are prevailing its services so as to be on no. 1 position in providing taxi services online to customers (Gong, Wu & Luo, 2018). This is further going to be enhanced by the marketing objectives and goals which are ultimately leading to the fulfillment of the company’s main objective.

Financial objectives of the company are categorized in two various section which includes for the company and secondly for the customers. The company has to set the prices of fare according to the customer’s needs and their potentiality to pay. Also, it has to keep in mind the cost and revenue of the firm so as to have the best optimum result. The main objective has to be deploying the finances properly so as to make sure that there is no default in operations of a business. Making sure that the funds are available at the time of any financial crisis or problems which keeps on rising due to changes in the market as well as preferences of the people who are associated with the entity (Toledano, 2018). It also has to make budget properly so as to have a conciseness in the firms spending capacity. Utilization of the resources properly is the main objective of financial division of the company including the generation of revenue in terms of success for the company for its long terms operations and sustainability.

The marketing mix is a combination of various factors which are used in marketing a product or service in a market. As INGOGO is a taxi brand and it renders services to various people. Hence, the marketing mix of service industry consists 7ps of marketing. In relation to INGOGO and its marketing strategies following is a justification for its marketing mix:

• Product

The services which INGOGO is going to offer to its customers are related to traveling around places. Hence, it is going to offer an intangible experience to its clients for driving safe to the destinations they prefer (Susan & Shuba, 2018). The customers have to book the cab online for their preferred drop by adding on to their pickup locations according to which they get a chance to subscribe the services which company has to make.

• Price

Marketing Mix

The rate of the fares which has been proposed by the company is according to the potential power of the customers as well as their incomes. It is affordable as well as worth with the services rendered to customers. So, the price of the services is not so highly charged it is very nominal.

• Place

The area where these services have been launched is chosen upon various analyses of the market and people. Hence, a target market is very potential of giving back to the firm in terms of revenue and the profit which it is going to earn (Arisandra, 2018). The area where the potential buyers are present is been targeted by INGOGO which will help it to reach a conclusion of achieving the goals and objectives which are set for the company.

• Promotion

Various promotional strategies which are there in a market to make more and more people aware of the product have to be chosen (Sumathy & Rathna, 2018). Hence, use of social media, newspapers, various websites etc. can be implemented by the company so as to promote the services in the areas of Australia.

• People

The employees and the customers who are associated with the company have to be kept into high preferences so as to have a proper functioning of the company’s operations. There are drives, employees etc. who work for the firm and they have to develop as the associations develop (Loia, Gaeta, Falco & Aniello, 2017). As it is known that a company is known by its people and the one with whom it is associated with so it has to be taken into account.

• Process

The process which the company follows in order to operate and make the things flow so as for its long-term operations. Taking a note of how the services are being consumed and taken into consideration by people at various stages. The relevance of the process with the industry it is operating in (Bossey & Randell, 2017). In all, it has to follow the path which is most optimum for the company and its people to take further the operations of the company.

• Physical Evidence

The existence of the firm and headquarter that yes the firm does have a recognizable state as well as it is authenticated. Every company operates from its premises being online or physically present. So, INGOGO has its entity present in Sydney, Australia which has an assurance of the authenticity (Engelhardt, Ferdinand, Kramer & Pätzmann, 2018). Also, there is an existence of the taxi and cars which the company rents upon the passengers who are using its services.

The above marketing mix is the best suitable for INGOGO company in order to do its marketing and market promotion for the services it is going to offer in the Australian market. This will assist the company to have the best result for the operations which are to be conducted.

A promotion mix compliance with many strategies which are there for the company to use in order to make more and more people aware of its product. There are so many tools which are there to use as promotional means by the company (Hafeez, Foroudi, Nguyen & Alghatas, 2018). It contains various activities which can be used by a company like INGOGO for promoting its product in the market like Australia. A brief justification for the promotion mix is given below:

• Advertising

There are various channels through which product or services can be represented in the market. This can be used by the taxi giant to have more and more people aware of the launch of its services (Leventhal, 2018). It helps in capturing a huge market in one go and is very much useful for many businesses.

• Personal Selling

People for the promotion of the product who are called salesman have been appointed who works as an intimidator for the company to the direct customers personally telling them about the product of the company which they can buy (Ashraf & Bhalla, 2018).

• Sales Promotion

The strategy which is being chosen by most of the business entities for a period of time in order to promote the product and making more and more people attracted to it. For example discounts, coupons etc. This is an optimum strategy for INGOGO to have its product inclined in a market in front of people (Alcaraz, 2018).

• Public Relation

The favorable image that a company has to build in front of the people who are directly and indirectly associated with it. It is important for the company to have long-term operations. This can be done via various campaigns for social activities etc.

• Direct Marketing

In this company do not uses any kind of paid mediums which are there in the market. A company has various sets of channels like sometimes it reaches to the people directly without any other means (Nacro & Sama, 2018). So, it is known as direct marketing by the association without any medium.

Budget

The above is the budget table for the company to promote its product through the promotion mix in a market (Sabo et al., 2018). It will help the company to reach to best results for the marketing management by optimum utilization of funds which are available for various services.

Conclusion

It has been concluded by the above report that in order to have proper marketing management of a company and its products or services an analyzation has to be done so as to assist the firm to move in a direction. The financial objectives and marketing objective with a reference to marketing and a promotional mix is a result of this study so as to have proper functioning of the operations of the firm. A budget for the promotional tools has also been obtained by the above report and various justifications to the tools of marketing have also been a result of this study.

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