Assignment 3 Part C Your Marketing Plan

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MARKETING PLAN 10

Assignment3: Part C: Your Marketing Plan

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Assignment3: Part C: Your Marketing Plan

    1. Develop the company’s branding, pricing, and distribution strategy

1.1.0Company

E-TaxiPlus will be a taxi transportation company that develops, markets,and operates an E-Taxi Plus mobile app that allows customers withsmartphones in the United States to request a taxi ride from E-TaxiPlus drivers. The company will be the solution to three risingdemands from the public. The public demands: (1) access to reliabletaxi transportation, (2) access to safe taxi transportation, and (3)access to cheap taxi transport fares during morning and evening rushhours. E-Taxi Plus goal is to provide the community with reliable andsafe taxi transportation as well as affordable taxi transportationfares. This marketing plan details the strategies that will be usedby the company to achieve its goals.

1.2.0Branding

Inbusiness, it is essential for the marketing manager to come up with amarketing plan that provides an identity to a business that canoutsmart the competition (Ferrell &amp Hartline, 2010). Businessesthat can come up with a brand that defines their services andproducts to customers have the best chance to be effective andsuccessful.

1.2.1E-Taxi Plus Branding Strategy

Thetaxi transportation business is extremely competitive. E-Taxi Pluswill implement branding strategies that will increase businessrevenues and provide a competitive edge over competitors. Our brandwill put emphasis on reliability, safety, and affordability toincrease customer loyalty to our app. Our strategy will be to createawareness to passengers that our taxi transportation services arereliable, safe, and affordable. Our brand strategy will includeproviding affordable taxi transportation fares for all routes,providing safety by employing vetted drivers, and providing reducedwaiting time for a taxi to arrive to ensure reliability.

1.3.0Pricing

TheE-Taxi Plus pricing strategy will reflect on the quality of the taxitransportation service that passengers will receive through our app.Our pricing strategy will maximize our sales and profits to attainour marketing goals (Ferrell &amp Hartline, 2010). Passengers willpay low taxi fare for transportation service.

1.3.1E-Taxi Plus Pricing Strategy

E-TaxiPlus’ will offer passengers lower taxi transportation price. Theapp will have a bonus feature for registered members that willautomatically qualify them for lower transportation prices.Therefore, this pricing strategy will attract more passengers, andthereby, increase sales and profits.

1.4.0Distribution

Accordingto Ferrell and Hartline (2010), a business can become profitable ifit chooses the right platform to deliver its services and products toits customers. Passengers are normally technologically savvy with theway they use their smartphones. Therefore, there will be noresistance to our E-Taxi Plus app.

1.4.1E-Taxi Plus Distribution Strategy

TheE-Taxi Plus app will mostly be distributed from GooglePlay Store.This is as a result of the increasing number of people using Androidin smartphones. As such, E-Taxi Plus will increase sales and profitsbecause it will be able to reach many customers.

    1. Classify the company’s major competitors as inter- or intra-competitors. Categorize the competitors’ major strengths and weaknesses

2.1.0Competitors

Inbusiness, there are competing companies that try to sell similarservices and products to customers (Williams, 2008). A good managerstudies the services, products and market position of theircompetitors in order to come up with strategies that will provide acompetitive advantage. Our service will provide passengers with lowerprices for taxi transportation fares, which will save them money aswell as provide passengers with safe taxi transportation, which willensure their safety. Presently, there are competitors that areputting emphasis on an app that offers lower prices for taxitransportation fares. However, safety has become challenging for thecompetitors to offer to passengers.

2.2.0E-Taxi Plus Competitors

E-TaxiPlus competitors that we need to focus on include Uber and Lyft.These competitors mainly focus on providing taxi transportation topassengers rather than offering them with safety while they aretraveling. E-Taxi Plus will fill that void by offering passengerswith vetted drivers to create a safe and enjoyable experience whiletraveling.

2.2.1Inter-brand competition

E-TaxiPlus will provide different services that our competitors will notprovide to passengers in the taxi transportation industry. Lower taxifare, quality of service, and brand differentiation will fuel theinter-brand competition. The major inter-brand competitors thatE-Taxi Plus must pay attention to are Uber and Lyft. These companiesfocus on providing taxi transportation on their apps but they do notconcentrate on the safety of passengers. For E-Taxi Plus to beeffective, our strategy will be built on safety and lower fare thatwill allow the company to provide ample security to passengers andmake a profit from increased taxi rides from the lower fare.

2.2.2Competitors Strengths and Weakness

Thecompetitors in the apps for taxi transportation business are Uber andLyft. They all target the segment of people in the population thatseeks taxi transportation. The reason they target this segment isthat people have a lot of disposable income and are willing to spendit to get safe and affordable taxi transportation.

UberStrengths

  • It is a well-established brand.

  • Its prices are lower as compared to the traditional taxi operators.

  • It has little competition, with its major competitor being Lyft.

UberWeaknesses

  • Its idea can be imitated easily.

  • There are safety concerns because Uber drivers may commit crimes.

LyftStrengths

  • It is a well-established brand.

  • Its prices are lower as compared to the traditional taxi operators.

LyftWeaknesses

  • It has a lot of competition from Uber.

  • Its idea can be imitated easily.

  • There are safety concerns because Lyft drivers may commit crimes.

    1. Develop the differentiation strategy in relation to the closest competitor

3.1.0Differentiation Strategy

E-TaxiPlus is one of many taxi transportation apps in the taxi industry.For E-Taxi Plus to stand out, we must build a reputable brand. Ourdifferentiation strategy will put emphasis on the safety ofpassengers and price charged for taxi services.

3.2.0E-Taxi Plus Differentiation Strategy

Theclosest competitor to E-Taxi Plus is Uber. Uber is the closestcompetitor because it is recognized for providing passengers withlower taxi fare. However, our analysis indicates that Uber does notprovide their customers with safety. According to Pfeffer-Gillett(2016) in an article, passengers have accused Uber drivers of allegedsexual harassment and even kidnapping. Where Uber has beenunsuccessful in providing their customers with safety, E-Taxi Pluswill be successful because we will partner with the government duringthe vetting process to weed out potential criminals. Apart from thissafety strategy, E-Taxi Plus will differentiate itself by offeringlower taxi fare in the taxi transportation industry. Indifferentiating ourselves by providing customers with lower taxi fareand safety as compared to Uber, we will be capable of increasing ourprofits and market share.

    1. Establish whether the company’s intention is to be a leader or follower within the industry

4.1.0Company

E-TaxiPlus is a company that has the intention to be a leader in the taxitransportation industry in the United States. We recognize that weare not the first company in the industry. However, after conductingresearch of the offerings of the competitors, we have realized theirweaknesses and our strengths. Our strengths as a company will be ourability to provide passengers with safety and lower taxi fare. Thiswill allow us to attract more passengers and increase our marketshare, and thereby, increase our revenue and becoming the marketleader in the industry.

4.2.0Industry

Theuse of a smartphone app in the taxi transportation industry is verynew. However, it is beginning to become competitive. Uber and Lyftare leading the industry (Neckermann, 2015). They have become theleaders in providing low taxi fare. However, they only focus on lowtaxi fare and not the safety of passengers. We will change theindustry by lowering the taxi fare and providing safety to passengersby vetting drivers with the help of the government.

4.2.1Leader

Myexperience with providing services to customers has convinced me oftwo things: (1) the quality of services has to be high and (2) anopportunity exists to fulfill demands that have not been met. Afterhearing about the Uber safety incidences in New Delhi and Chicago(Picchi, 2014), I am convinced that there is a demand for safety thathas not been met in the taxi transportation industry. Therefore,E-Taxi Plus will become a leader in providing quality service, whereit will provide passengers with safety while they travel.

    1. Specify two social media and / or media tools that you would use as you develop your plan. Justify each of your chosen tools

5.1.0Media tools

Onthe one hand, the social media tool that E-Taxi Plus will use totarget passengers includes Facebook and Twitter. On the other hand,E-Taxi Plus will employ newspapers and magazines as the media toolsto target passengers. By targeting the passengers using these mediatools, we will receive a return on investment from the advertisingmoney spent.

5.2.0Social Media Tools

Twitterand Facebook will be used to target passengers because they use theirsmartphones to get to these social networks to get news updates. Ourtarget passengers love to post updates concerning what is happeningin their lives for their families and friends to see. These socialnetworks have more than a billion users. This provides ampleopportunity for E-Taxi Plus to advertise to a lot of passengers abouttaxi transportation that is safe and affordable.

Newspapersand magazines will be used to target passengers because thepassengers read them while going to work to get information oncurrent matters in the country. Out target passengers love to go towork by bus or private car and want to be charged low transportationfare. This provides adequate opportunity for E-Taxi Plus to advertiseto passengers on these media tools in order to address their demandfor a taxi transportation that is safe and affordable.

    1. Suggest the integrated marketing communications that are most relevant for your marketing plan. Relate each marketing communication to your company’s advertising strategy

6.1.0Integrated Marketing Communications

E-TaxiPlus will use several strategies to advertise to the target market inthe industry. We will use an integrated communication plan. Thecompany marketing campaign will include sales promotion andadvertising to give us an advantage in the taxi transportationindustry (Yeshin, 2012).

6.2.0E-Taxi Plus Integrated Marketing Strategy

E-TaxiPlus will use two integrated marketing strategies that include salespromotion and advertising in order to increase market share. Thepassengers are a segment that is particular of what taxitransportation service they use. Our goal is to provide passengerswith low taxi fare and safety so that they can have a wonderfultravel experience.

6.2.1E-Taxi Plus Advertising Strategy

E-TaxiPlus will use advertising as the main strategy by placing targetedads online in magazines and newspapers that passengers read. Inadvertising in these newspapers and magazines, we will reach manypassengers who have smartphones. The ads will provide potentialpassengers with adequate information about our low taxi fare and safemeasures that we are taking to enhance their security.

6.2.2E-Taxi Plus Sales Promotions Strategy

E-TaxiPlus will use promotion as a strategy to maintain existing customersin our app. Customers who register in our app to become members willget lower taxi fare than those who are not registered. This strategywill be effective in maintaining customers because a majority of themwill want low taxi fare available in the market in order to savemoney.

References

Ferrell,O., &amp Hartline, M. (2010). Marketingstrategy.Boston: Cengage Learning.

Neckermann,L. (2015). Themobility revolution: Zero emissions, zero accidents, zero ownership.Leicester: Troubador Publishing Ltd.

Pfeffer-Gillet,A. (2016). When “disruption” collides with accountability:holding ridesharing companies liable for acts of their drivers.CaliforniaLaw Review,104(1),233-268.

Williams,C. (2008). Management.Boston: Cengage Learning.

Yeshin,T. (2012). Integratedmarketing communications.New York: Routledge.

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