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Ingogo Cab: Marketing Plan Assignment

Question

Task Description : Assessment 2 requires students to work individually on their selected new product or service (from assessment 1) to create a comprehensive strategic marketing plan. This is an individual assessment with a maximum word limit of 2500. Your assessment should be an application of relevant marketing concepts learnt in the unit. There is no need to go into details about explaining marketing concepts, rather it should be an applied discussion. Please upload the assessment through the appropriate Moodle link by week 10. Each assessment must be uploaded as a .doc or .docx file (word file).

Answer

Executive Summary
The aim behind the preparation of this marketing plan assignment is to highlight the marketing plan for an Australian company named Ingogo Cab Company. The organisation has its business operation in the markets of Australia. Through the effective mobile application, the company has gained huge market recognition and brand value in Australian market. The cab industry is suffering a specific problem on the basis of which the marketing plan has been prepared for Ingogo. The marketing plan assignment will present STP analysis of the company as well as it will also present the marketing and financial aims of Ingogo. There will be highlighted the Ingogo’s marketing plan in the next part of the marketing plan assignment as well as there will also be presented the budget allocation. The marketing plan assignment will throw light upon the strategy implementation of promotion mix and will conclude with a brief analysis of numerous discussions presented in this marketing plan assignment.

Introduction
Every business required effective growth in their future therefore Ingogo also needed to have its business and financial development therefore the marketing plan assignment will highlight a marketing plan which can offer effective growth to Ingogo. The company hold strong market share because of its diversified and extended services being available in distinct regions of the country (Procter, 2014). The marketing plan will help the company in analyzing is various opportunities present in the market. Ingogo started its business operations in 2011 and in last few years it has grown into an extensive organisation that offer extended services to its customers (Grubb, 2014). With the help of the mobile application Ingogo is planning to have more number of customers in Australia as well as to develop itself as the market leader in the cab industry.

Situation analysis recap
Based upon the swot analysis of Ingogo the various conclusions drawn includes that the company hold several number of strength such as exposes, strong brand image as well as high Goodwill in the market. The services of Ingogo are also effective in nature and therefore it enhances the customer satisfaction level. Another primary strength of Ingogo is that it offers low fare cab services to the customers of Australia. The competitive pricing of Ingogo helps in leading the cab service industry. As per the conclusions drawn from the weaknesses analyzed of Ingogo it can be said that the drivers are not engaged with the organisation and therefore they easily switch to the competitor (Varley & Rafiq, 2014). There has also been analyzed the weakness regarding the business model of the company as it does not possess strong Strategies and approaches which cannot be copied by competitors and therefore there are chances of imitation. By analyzing the opportunities it can be concluded that the company is required to enhance his services in the untapped areas where the other competitors are not offering their cab facilities as well as the company also possess the opportunity to lowest cost by taking use of electric vehicles in coming time period. After analyzing the various threats for Ingogo it can be concluded that there are Threats of brand deterioration due to a number of frauds and scandals which had taken place in the past as well as there are chances of taking place in future because of the various unprofessional drivers.

Problem statement
The individuals usually face various issues while travelling from one place to another or when it comes to transportation. Australian people are suffering from travelling issues because of highly increased charges as well as inefficient cab services. The individuals are also not able to take use of the public transportation because of increased population. Thus, there exists an issue or problem that there is no cab service provider which can satisfy the customers as well as can offer them the facility of transportation at reasonable cost. In this aspect Ingogo is offering efficient and competitive services to the customers by the means of application. The customers also possess the opportunity to even hire the cabs for their journey.

Potential market segments
The Ingogo Company of Austrian consumer market is divided into various segments. These segments are classified into four groups’ i.e. Geographic, demographic, psychographic and behavioral.

Geographic segmentation: In geographic segmentation, the availability of the service and product and its accessibility by the customers is taken into consideration. The work of Ingogo Company is to provide cab services to the target market with the help of mobile application. Facility of desktop website is also available for the customers. Ingogo targeted those customers who have lack of conveyance facilities and want cab services. Company enjoys a very good market share in Australia.

Demographic segmentation: Demographic segmentation is the segmentation based on the customers having different age groups. The age group from 15 to 30 has been chosen by the company as primary customers because as they spend so much time in surfing internet. Therefore, this age group can easily access the application of company to book cabs according to their needs.

Psychographic segmentation: The lifestyle and attitude of different customers are studied in psychographic segmentation. Various aspects such as overall charges, tracking methods, minimum waiting time and many more things are there which affects the customer’s mind while booking a cab. Favorable conditions for the customers will lead the company to achieve its goals, aims and objectives. Through this the overall revenue of Ingogo will also raise.

Behavioral segmentation: This segmentation is based upon the attitude and behaviour of the customers, towards different products available in the market. This segment includes customers who want maximum benefits at minimum prices. People who demand high degree of safety while travelling from cabs are also comprised in behavioral segmentation.

The Ingogo Company of Austrian consumer market is divided into various segments. These segments are classified into four groups’ i.e. Geographic, demographic, psychographic and behavioral.

Target market positioning
The conclusions drawn from the segmentation analysis of this marketing plan assignment, it can be stated that there is an important need for analyzing the market which can offer expensive growth to the company. For the purpose of effective target marketing Ingogo can take use of efficient strategies to extend its customer base. The first and foremost strategy is that the company will provide unique services as well as differentiated services to the individuals. The primary target market for the company will be the individuals who are between the ages of 20 to 35. The next segment which would also be targeted is the one which Travels by the means of public or government transportation services. Hence the primary target market for company will be women adults of age between 20 to 35 and youngsters (Tanner & Raymond, 2015).

Positioning
The position in the market, Ingogo must have taken use of advanced technology as well as innovative approach. The company is required to build its approaches on the basis of the customers Lifestyle, their buying and purchasing attitude and accessibility towards the services. For improving the brand recognition of company there can also be taken use of an adequate positioning statement. The proposed and adequate positioning statement for Ingogo is, “Ingogo believes in offering adequate services to its customers either there adults, youngsters, women or men. In the Australian market it is regarded as one of the safest and securest transportation service provider which offers wonderful travelling experience to its customers."

Marketing objectives
Following are the marketing objectives or aims of Ingogo:

  • Firstly, the organisation wants to provide its services to the various individuals who are unable to access the cab facilities therefore the company aims to provide and extend its services in the untapped areas of the nation.
  • Secondly, the company also aims to take use of various other strategies by which it can offer customized services to its customers. The aim is to enhance the brand recognition in Australian market as well as to have increase number of loyal Travelers (Olson, Slater, Hult & Olson, 2018).
  • The third key aim of Ingogo is to recruit most efficient as well as skilled driving partners as well as to increase the number to one million employees. By this the company aims to become the leader in the cab service providing industry.

Financial objectives
The financial aims and objectives of Ingogo are:

Enhancing revenues: The company aims to financially increase its revenues by providing its services in the various regions of Australia. The objective of Ingogo is to provide good experience to its customers and have increased profit

Development of brand value: The Company aims to increase its revenues as well as overall sales by developing its brand value. There are several aspects by which the brand value of Ingogo can be improved such as by the effective support of drivers, customers, stakeholders, employees and also the shareholders (Bresler & Lubbe, 2014).

Competitive pricing: Another financial aim of Ingogo is to provide the customers with the cab services at competitive prices. Through the mobile application and also by the means of Desktop website the company can enhance its sales but ultimately it will also increase the overall cost for the company. Thus, there can be reduced costs if the company extend its services in the untapped regions and increase the number of customers (Londhe, 2014).

Marketing mix
Product: There are two options available for booking a cab comprising booking through desktop website and booking through mobile application. The customers will get to know the actual and exact fares for their upcoming rides (Ingogo, 2018). Advance booking is one of the most vital features of mobile application of Ingogo where the customers get an access to book the cabs in advance for almost time duration of 48 hours. The other features of the product, ‘mobile application’ comprises of live tracking and checking the estimated arrival time (Rayle, Dai, Chan, Cervero & Shaheen, 2016).

Price: The aim of Ingogo Company is to provide cab services at a very affordable prices so that they can attract more and more customers in the market. Providing cabs with low fares, comfortable ride and air conditioning services support the company to acquire efficient position in the market of Australia. By giving all information such as total fare, estimated time and detail of driver in advance, company becomes able to win the confidence of customers. Nominal prices are very necessary to maintain customers; otherwise customers will start switching their interest from one company to another company (Schindler, 2012).

Place: Ingogo targeted those individuals who want to travel via cabs. This will help people to explore cab facilities so that they can improve their experiences. An internet-based network is required to book cabs by means of Ingogo application. To reduce the waiting time of the customers, company will also hire more drivers which help the company to work effectively and efficiently. More drivers will help in bringing more customers which will increase the customer range of the company (Vujic, Vasiljevic-Blagojevic, & Peric, 2014).

Promotion: There will be used sound advertising and marketing strategies for promoting the mobile application of Ingogo. The first and foremost promotion of the mobile application will be done on the social media platforms such as twitter, Instagram, Facebook, etc. The sites or platforms possess increased attention of the individuals and therefore it is engaged as the most effectual source of promotion. The company will engage in the advertising process as well as in the promotional activities. Other promotional activities of Ingogo comprises of providing discounted rides, everyday offers, referral bonus and special vouchers. The target customers would also be informed about the various offers on regular basis by the means of sending daily notifications on their registered email ids (Kauppinen-Räisänen & Grönroos, 2015).

Marketing strategy Implementation
For implementing the strategies in the organisation, Ingogo can use several ways:

Online promotion: To get increase number of customers Ingogo will present its services on various social media platforms so that an increase number of individuals can look upon the services and also use the cab services offered by Ingogo therefore the various advertisements, campaigning and link ads can help the company to grow (Nielsen, Nielsen & Estrin, 2016).

Promoting mobile application: there are various platforms on which if the mobile application will be promoted there can be increased number of customers such as the company can enhance its customer base by promoting the mobile application on Facebook, Twitter, etc.

Effective targeting of customers: Ingogo aims to target the most potential customers in Australia, therefore the company will target individuals based upon gender, accessibility of the mobile application and also their age.

Budget allocation

Promotional Strategies

Amount ($)

Promotions and Advertisements

- Print Media

-Billboard Advertisements

- Hoardings Advertisements

 

1200

1200

1100

Social media marketing

-  Desktop Website

- Twitter campaigns and Facebook promotions

- Twitter ads and You Tube Links

 

700

700

500

Launch of Mobile application

2000


Conclusion
Based upon the evaluation done of Ingogo marketing plan in this marketing plan assignment it is concluded that the organisation was this strong brand image in the domestic market but still the individuals are experiencing challenges in getting adequate cab services and therefore the company is planning to provide the services at competitive prices as well as to offer accessibility to the customers of untapped regions. Through the Ingogo mobile application the customers can experience sound travel experience such as they can easily book the cabs as well as can also check about the driving partner, the total distance and the prices. when compared to the various other cab service providers it can be concluded that Ingogo is providing the best services at the most competitive prices therefore if it will extend its business operations in the untapped areas then it can become the leader of the cab service industry. There are also opportunities available for Ingogo to implement sound marketing strategies and also to utilize the various social media platforms for promoting its application and increasing its customer base. Marketing plan assignments are being prepared by our marketing assignment help experts from top universities which let us to provide you a reliable university assignment help service.

References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.

Bashir, M., Yousaf, A., & Verma, R. (2016). Disruptive business model innovation: How a tech firm is changing the traditional taxi service industry. Indian Journal of Marketing, 46(4), 49-59.

Bresler, M., & Lubbe, I. (2014). Marketing management.

Grubb, B. (2014). Taxi app Ingogo pulls online receipts after customer shows how thousands can be accessed. Retrieved from https://www.smh.com.au/technology/taxi-app-ingogo-pulls-online-receipts-after-customer-shows-how-thousands-can-be-accessed-20140506-zr5fj.html

Ingogo, (2018). In an Australian 1st, Ingogo offers FIXED FARES. Retrieved from https://www.ingogo.com.au/

Kauppinen-Räisänen, H., & Grönroos, C. (2015). Are service marketing models really used in modern practice?. Journal of Service Management, 26(3), 346-371.

Londhe, B. R. (2014). Marketing mix for next generation marketing. Procedia Economics and Finance, 11, 335-340.

Nielsen, S., Nielsen, B. B., & Estrin, S. (2016). Internationalization of Emerging Market Multinational Companies: The Role of Industry Internationalization and Home Country Urbanization. In Australia and New Zealand International Business Academy Conference. ANZIBA 2016.

Olson, E. M., Slater, S. F., Hult, G. T. M., & Olson, K. M. (2018). The application of human resource management policies within the marketing organization: The impact on business and marketing strategy implementation. Industrial Marketing Management, 69, 62-73.

Proctor, T. (2014). Strategic marketing: an introduction. Routledge.

Rayle, L., Dai, D., Chan, N., Cervero, R., & Shaheen, S. (2016). Just a better taxi? A survey-based comparison of taxis, transit, and ridesourcing services in San Francisco. Transport Policy, 45, 168-178.

Schindler, R. (2012). Pricing strategies. Calif.: Sage Publications, Inc.

Tanner, J., & Raymond, M. (2015). Principles of marketing. University of Minnesota Libraries Publishing.

Varley, R., & Rafiq, M. (2014). Principles of retailing. Palgrave macmillan.

Vujic, N., Vasiljevic-Blagojevic, M. and Peric, N. (2014). Analysis of the characteristics of taxi services as a prerequisite for their improvement. Marketing.45(3). pp.231-239.

Wilczak, A. (2014). Strategic Marketing Management.

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