Marketing Strategy For Ingogo: SWOT Analysis, Stakeholder Analysis, And Objectives

SWOT Analysis

Ingogo is an Australian company whose primary area of specialisation is to offer an online taxi bookings and payments platform. The company provides customised mobile applications both on Android and iPhone phones to help cab drivers process fares. Apart from cab services, the company also offers other transportation services to its clients for a fixed ticket.

Ingogo targets full range customers without a specific age bracket. The clients who look for our online services serve as our primary market segment. Almost seventy percent is concentrated with intense competition from Uber as well as public transport vehicles in Australia. We have far-reaching experience in offering timely and quick services to our clients through our online platforms helping us to provide consumer value in the transport industry.

The aim to continue being innovative in our online platforms, to offer more cost-effective services, engage in more extensive advertising and expand our services to increase our revenues and growth rate (Belch et al., 2014, pp.13). Our company is aiming at spending almost $70 million on marketing. We have been able to main our position as the third most significant player in the taxi mobile payment market thus increasing our market share by 11% (Queensland government, n.d).

Stakeholder Analysis

In the business model, there are three crucial stakeholders: tax derivers, Ingogo and the customers-taxi users. This can be summarized as follows;

As illustrated above, the Ingogo’s system acts as a link between the taxi drivers and the tax users. Thus, the tax users will use their phones to book for a taxi service through the Ingogo’s system and once they pay for the service, the company will get their commission and the rest is paid to the taxi driver. Hence, the three main stakeholders dictate the existence of the company.

The company does not operate in isolation in the taxi service market. Thus, it means that Ingogo works under stiff competition from other companies offering taxi and other transport services. Such competition comes from Uber and other public transport means. However, the company is striving to counter this competition and remain the key player in the transport sector.

Opportunity Statement

With the existence of Uber since 2009, the company has been facing a threat of losing their drivers due to a greater percentage of competition they charge the drivers (Queensland government, n.d). Unlike Uber which charges between 22.5% and 30% of the commission of the payment the drivers receive, Ingogo is charging only 15 percent(Queensland government, n.d). Thus, the company has an opportunity beating its competitors. Also, the company offers a fast and automated way of transaction with a fixed and affordable price thus taking an opportunity of going past its competitor. Finally, with the launch of other services like Ingogo now, the company has an opportunity of growing their revenue ahead of their competitors like Uber who rely only on taxi service only.

Stakeholder Analysis

There has been a lot of contestant in the taxi mobile payment industry since the entry of Uber and other transport service companies. With Ingogo aiming expanding and increasing its market share, the company needs to invest heavily in creating strong brand awareness by engaging in advertising and other promotional activities to survive in the competitive business market. Therefore, the main aim of this marketing strategy is to create and maintain Ingogo’s strong brand awareness (Armstrong et al. 2014, pp.33). 

The company target two main groups of customers in its daily operations:

• The first group involves individuals or families out there who are engaging in recreational and pleasure trips around town and cities. The company doesn’t forget that there are individuals who are on vacation and want to book their services to be taken to cities to various recreational outlets like museums. Once reservations are made, the drivers will be conversant with multiple recreational and pleasure areas where our customers wish to be taken.
• The second batch of customers that Ingogo aims at is the business travelers. Most companies have been hiring luxurious cars to pick their workers. However, with the introduction of Ingogo, people can book and schedule their travelling, and various cab drivers will come and pick them.

As most companies seek to cut their operational costs, Ingogo gives a reasonable solution by offering a fixed and affordable price to meet the clients’ cost and comfort.

Ingogo positions itself as a reliable and professional transportation service company with fixed affordable price rates. Ingogo’s aim at achieving the desired positioning by maintaining a competitive advantage.

Ingogo’s competitive advantage will be achieved through an offering of fixed and affordable prices for its customers. The company will also do this through the launch of various other services like Ingogo Now to maximise its revenue. The company is also aiming at:

• Ensuring that it receives the customer feedback to be able to improve its services.
• The company is also keen on ensuring that it develops and maintains news customers.
• The drivers work as a team to serve their clients efficiently.

The sole objective for Ingogo is to position itself as the market leading taxi mobile payment Service Company. The company’s marketing strategy is seeking create customer awareness regarding Ingogo and the services it offers, develops its customer base, and also work towards improving stronger customer loyalty and even get new customer referred to them by satisfied customers.

Our aim and mission are to render our clients with the best transport service available at an affordable and reasonable price. We aim at ensuring that our services exceed the customer expectations. It will help in attracting and maintaining customers.

Our Objectives

Objectives are categorised into two: marketing objectives and financial objectives.

• Progressively increase our market share.
• Engaging in more online promotional activities to increase our brand awareness(Fill & Turnbull, 2016, pp. 20). 
• Reduce the cost of acquiring our services by our potential customers.

• Increase our profit by at least 8% every year (Queensland government, n.d).
• Decreasing our operational costs while improving service quality.
• Launching more services away from taxi services to maximise our profits.

For the company to fulfil the objectives mentioned above, the company has to evaluate itself and engage itself in those activities that will help in meeting its goals (Smith & Zook, 2016, pp. 52). Ingogo has thus opted to invest heavily in digital advertising and marketing as a strategy of fulfilling its objectives (Chaffey & Ellis-Chadwick, 2016, pp. 24).  Before evaluating on what to do, let’s look at the company’s marketing mix, SWOT and PEST analysis.

Ingogo’s marketing mix consists of the following approaches to pricing, distribution, advertising and promotion, and customer service (Business insight, n.d).

• Pricing:The Company will offer a fixed price for its clients per trip irespective time they will spend in a traffic jam.
• Distribution:After the customer books a taxi, delivery will take place at the customer’s convenience, and this allows the customer to book for a service even two days before.
• Promotion and Advertising:Ingogo will use all the activities especially online advertising and marketing for it to achieve positioning and brand awareness.
• Customer Service:The business framework has been premised on the notion that outstanding customer service will lead to a more sustainable business since the satisfied repeat customers will bring more new customer referrals (Chaffey & Smith, 2013, pp. 47).

Political

• The political situation in Australia is very stable. Due to this, there is ease in doing business within the country. Thus, Ingogo enjoys a conducive working environment.

Environmental

• An example of ecological factor favouring business in Australia has improved security. With the high security within the country, the establishment of growth of companies like Ingogo is assured.

Social

• In Australia, the culture of the people here is that they spend on quality and cheap services which are pocket-friendly. Thus, the company has been able to offer quality, accessible and affordable services through the mobile app platforms

Technological

• With the growth in technology, the company has invested in a user-friendly system integrated with mobile applications to help the users’ access taxi services through their mobile phones. Hence, more clients can access the Ingogo’s services easily.

Strengths

• Innovative nature of the company and launch of new services like Ingogo Now to help us grow our revenues.
• Experience in offering our services through accessible mobile applications

Weaknesses

• Ingogo provides its services in a few cities in Australia. These cities include
• The company has no means of helping those without phones to enjoy their services

Opportunities

• The company experiences a large number of customers due to its fixed prices.
• Ingogo is growing at a higher rate due to its open services.

Threats

• Stiff competition from other companies offering taxi services.
• Possible entry of new rivals in the market

Due to the intense rivalry in the marketplace, Ingogo should position itself as the best option ahead of its competitors. The company will achieve that through progressive advertising and marketing and other promotional activities. By doing so, the company will be able to create and maintain its brand awareness (Business insight, n.d). The company should continue being innovative and engage in activities that will boost their revenue through the launch of various services like the Ingogo Now.

Conclusion

In conclusion, Ingogo has grown to maintain its position as the third largest company in the taxi mobile payment space in Australia. The company offers the cab drivers an opportunity to process fares through a mobile platform. Ingogo has strived to maintain the competition by providing a fixed price to its clients and also allowing the user to book a taxi two days in advance. The company is also striving to expand its services away from the tax payment services to other services through innovation of Ingogo Now to help small and medium companies to grow.  Ingogo has also invested heavily in digital marketing to enable the company to develop and maintain its brand awareness (Fill & Turnbull, 2016, pp. 23).

References

Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia, pp.32-35.

Belch, G. E., Belch, M. A., Kerr, G. F., & Powell, I. (2014). Advertising: An integrated marketing communication perspective. McGraw-Hill Education, pp.12-18

Business insight (n.d). Strategic business plan and market assessment . [Online]. Retrieved  from: <https://www.planware.org/salebi_report.htm> . [accessed on 11 March 2018].

Chaffey, D., & Ellis-Chadwick, F. (2016). Digital marketing. Prentice Hall, pp. 21-27

Chaffey, D., & Smith, P. R. (2013). eMarketing eXcellence: Planning and optimizing your digital marketing. Routledge, pp.47-51.

Fill, C., & Turnbull, S. L. (2016). Marketing communications: brands, experiences and participation. Pearson, pp.19-23.

Queensland government. (n.d), business Queensland, example of SWOT analysis, [Online]. Retrieved  from: <https://www.business.qld.gov.au/starting-business/planning/market-customer-research/swot-analysis/example>. [Accessed on 11 March 2018].

Smith, P. R., & Zook, Z. (2016). Marketing communications: offline and online integration, engagement and analytics. Kogan Page, pp. 51-56.

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