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Akansha answered on
May 14 2020
Running head: Marketing Plan.
Marketing Plan
Marketing Plan
Student Name
University Name
Executive summary
The 5-year marketing strategy for Ingogo was designed by its chief marketing officer, Jeff Lim, to gain additional growth funding and inform employees about the company's cu
ent situation and direction. The Ingogo is a software-driven transportation service company established in a year, 2011 and rapidly expanding in Australia. It is dedicated to becoming the most economical, convenient and personal travel experience and adaptable to all types of travellers. The company's market plan is to raise prestige and business share by implementing its business products as a feasible alternative to cu
ent taxi assistance in the region. The company's goal in following year is to pursue aggressive marketing campaigns. It is no surprise that the biggest market share is that Ingogo's recent value is US$1.3 million in the cu
ent year. This report highlights the potential customer segments for Ingogo services and also includes targeted market justifications. In this report, the desired positioning for Ingogo services and a clear positioning statement for the company is also discussed.
Contents
Introduction 3
Segmentation, targeting and positioning approach 3
a) Problem statement 3
) Potential market segment 4
c) Target market and positioning 4
3 Marketing & 3 financial objectives 5
a) Marketing objectives and goals 5
Marketing mix strategy Formulation 7
a) Marketing mix 7
References 11
Introduction
Ingogo is an Australian based company specializing in online cab bookings as well as payments. Taxi drivers use custom mobile apps on Android-based smart phones to process fares. The company cu
ently serves Sydney, Adelaide, Melbourne, Perth and Brisbane. Ingogo has its private GPS enabled booking system also allows any closest cab service to withdraw fares regardless of their taxi service. The company is Australia's 1st transportation service organization to provide passengers with settled fares which including all charges, as well as sharply increased prices or additional costs for traffic congestion. Ingogo's system grants customers to book taxis 2 days in prior. Since March’15, the company has now secured more than US$16 million in all the major Australian cities and has received support from leading Australian investors (Heber, 2018).
Situation analysis recap
Further, Ingogo obtained funding from the Government of Australia to set up a structure for Australian based organization. With these grants, Ingogo has created the most suitable and dependable way for taxis to travel in Australia. To contend with competitors, Ingogo focuses on marketing strategies. A marketing strategy is a recorded document detailing the necessary efforts to achieve desired marketing goals. The marketing plan covers one to five years. A solid marketing approach is the basis of a suitably-recorded marketing plan. Although the marketing approach contains a series of activities, a marketing approach without a perfect plan foundation is almost useless (Novak & Jones, 2015).
Segmentation, targeting and positioning approach
a) Problem statement
Ingogo gained momentum and achieved great success, but in the year 2012, Uber, the Google-supported drive-sharing service, was introduced in Australia. Sydney's companies knew they must have to improve their products and therefore faced great challenges in 2012. To block and tackle the upmost common criticism of drive sharing services, Ingogo wants to launch new marketing plans and strategies (Ainomugisha, 2016).
) Potential market segment
Ingogo recently declared a
and new plan. It is cancelling traditional billing fares and converting its award-winning booking and payment policy to provide fixed fare reservations. Now, users will not wo
y about the uneven fairs to take a cab ("Ingogo (company)", 2018). This is one of Australia's fastest-growing technology start-ups that change will be destructive - even if it were disruptors of the taxi business in the recent era, it would be a victory for both consumers and cab drivers ("The taxi apps you should be using | The New Daily", 2018). The most frequent complaints about passengers using cabs are price uncertainty before entering the vehicle. Ingogo offers clever ways of fixing fares - Australia's only taxi reservation service and application that can eliminate the need for electricity meters immediately. As the users enter the journey details in the software, it will determine exactly what the fare will be. Only after the customer adopts the fare and they book a taxi and send a driver to pick up (Wahyudi, 2013).
c) Target market and positioning
Ingogo's redesigned applications are the next level in providing users with the great experience they expect. Ingogo has provided the most powerful service suite through our application (2018). The purpose of the company is to retain cab drivers competitive in conditions of service as well as pricing transparency. In that way, everyone will win. The algorithm for determining the stable fare proceeded the most effective directions to the station, the traffic conditions, and the distance and expected time of any charges or payments that may be generated by the journey (Ebitu, Mbum & Okon, 2012). There is no sudden increase in prices and no invisible surprises. Prices are close to what customers normally supposed to pay. That is satisfaction for users; what they want is what they obtain. Users sometimes feel uncomfortable with cabs, and there are taxis and taxis for a variety of reasons. They do not determine the final fare before entering or wo
y that the route the driver may grasp may be unsatisfactory so that at the end of the journey, the passenger will be sent to the destination or additional costs will be incu
ed. With the updated Ingogo application, customers can determine that they are eager to price. It is expected that NSW legislation will need to be estimated at the time of booking, but now Ingogo is taking it to a new level. Plus travellers can leave the taxi directly because the payment and...