Marketing Strategy Analysis: Evo Car Share Company, MARK 1115 Report

This report provides a comprehensive marketing analysis of the Evo Car Share Company, a car rental service operating in the Greater Vancouver area. The analysis covers market segmentation, focusing on demographic factors such as age and income, identifying youthful and premium customer segments. The targeting strategy emphasizes urban-based clients and millennials. The report examines the company's application of the 4 Ps (Price, Product, Place, Promotion) and conducts a SWOT analysis, highlighting strengths like good customer relations and weaknesses such as limited market reach. Opportunities include market diversification and technological advancements, while threats involve competition and operational costs. The report recommends expanding market segments, embracing modern technology, exploring new markets, and intensifying marketing campaigns to achieve the company's full potential. The conclusion emphasizes the importance of implementing these recommendations for strategic positioning and achieving long-term goals.

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EVO CAR SHARE
COMPANY
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 Report is about the analysis of Evo Car Share
Company’s segmentation, targeting,
positioning, and strategic analysis
 Evo Car Share Company is a car rental company
 Located in the Greater Vancouver area
 Deals in Toyota Prius Hybrid vehicles that have
roof-top bike racks
 Specializes in the vehicles that feature one-way
point-to-point rentals
Evo Car Share
Company


 Market segmentation is the sub-division of
market into different sections
 The company applies market segmentation
 It segments its market based on
demographics like age, income levels, etc.
 There are mainly two segments:
 The youthful car-obsessed clients
 Premium clients
Market Segmentation


 The company targets two sets of customers:
 The urban-based clients: These have high
income levels and can afford premium (costly)
car rental services
 The millennial: These are young, economically-
stable youth who are obsessed with car rental
services
Targeting


 The company applies the 4 Ps:
 Price: Charging relatively-fair prices to clients
 Product: Quality and unique service-delivery to
the clients
 Place: The distribution is done well to reach the
target clients
 Promotion: Marketing of the company’s services
extensively-done using social media
Strategic Analysis


 Good customer relation services-Interests of
customers prioritized by the company
 High quality services offered to clients-The company
is committed to satisfying the clients’ demands
 Effective marketing of the company’s services-Both
conventional and high-tech electronic media used in
promotion efforts (Falát and Martin 2017, p. 149).
SWOT Analysis
Strengths


 Charging of relatively-high process-Prices high
and not affordable to the low income
segments of the population
 Targeting a small market segment-the urban-
dwellers and the millennial only
 Lack of product differentiation, hence., not
meeting needs of the diverse market (Zia and
Nanda 2016.)
 Serving a small market located in one region
Weaknesses


 Diversification into a new line of business
 Expansion of the target market to other
promising segments like the rural-dwellers (Pyo
2015, p. 255).
 Embrace the use of modern technology like e-
commerce so as to reach a wider market
 Explore other market opportunities in different
cities across the country
Opportunities


 Stiff competition in the car renal business-
There are other established and new firms
that offer similar services in the market
 High operation costs needed for the car rental
business-It is costly to run the business
because of the numerous expenses incurred
on daily basis
Threats


 Evo Car Share Company is in the right path
 It has, however, not reached its ultimate goal
 Company can’t achieve its full potential due to
various risks, threats, and challenges
 To accomplish its objectives, the company
must improve
 This should be done by adopting certain
recommendations given herein
Recommendations


 Currently, Evo Car Share Company serves only
two market segments
 This is quite unfortunate and must be rectified
 He company should serve as many segments as
possible
 It should not limit, but diversify its services to
serve all the people
 The bigger and more diverse the market is, the
higher the returns on investment (Lutz and
Gemma 2018, p. 188).
Diversification

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 The company should adapt to modern trends in
technology
 It should use technology to manufacture vehicles
 It should use technology to manage the fleet
 It should use technology to market the business
 It should use technology to widen its market base
(Lawson, Mark, Rebeca and Jiyoung 2016, p.
2621).
 Such technologies are social media, website,
blogs, and mobile telephony applications
Embrace the use of
Modern Technology


 The company currently serves the Greater
Vancouver area only
 It should extend to new towns
 It should extend to all cities within the country
it should extend to the international market
especially the emerging and promising
markets across the globe (Kasjan and
Katranzhy 2018, p. 47).
 Expansion will bring additional clients,
revenues, and profits
Explore New Markets


 Marketing is a key to success
 The company to intensify marketing
campaigns
 Marketing to be done using conventional
platforms like broadcast and print media
 Marketing also to be intensively-done using
electronic media like social media-Facebook,
YouTube, Twitter, Instagram, blogs, and many
others (Ghods 2019, p. 39).
Intensify Marketing


 Greater Vancouver area is committed to
becoming the car rental company of choice
 To achieve this, the company has been trying
to strategically-position itself in the market
 However, a thorough analysis reveals that the
company has not achieved its full-potential
because of the weaknesses and threats that
stand on its way
 To accomplish its ultimate goals, the company
must adopt all the recommendations given in
this report.
Conclusion


Falát, Lukáš, and Martin Holubčík. 2017. "The Influence Of Marketing Communication On
Financial Situation Of The Company –A Case From Automobile Industry".Procedia
Engineering192: 148-153. doi:10.1016/j.proeng.2017.06.026.
Ghods, Mohammad Asgari. 2019. "Entrepreneurial marketing: the missing link in social
enterprise studies."Journal of Global Entrepreneurship Research9 (1): 39.
Kasjan, S. Ja., and G. V. Katranzhy. 2018. "Formation Of Marketing Strategies Of Automobile
Construction Enterprises At The Launch Of New Products On The Target Markets".Economic
Scope0 (136). doi:10.30838/p.es.2224.290818.162.218.
Lawson, Stephanie J., Mark R. Gleim, Rebeca Perren, and Jiyoung Hwang. 2016. "Freedom from
ownership: An exploration of access-based consumption."Journal of Business Research 69 (8):
2615-2623.
Lutz, Christoph, and Gemma Newlands. 2018. "Consumer segmentation within the sharing
economy: The case of Airbnb."Journal of Business Research88: 187-196.
Pyo, Sungsoo. 2015. "Integrating Tourist Market Segmentation, Targeting, And Positioning Using
Association Rules".Information Technology & Tourism15 (3): 253-281. doi:10.1007/s40558-015-
0029-9.
Zia, Mohammad, and Nanda S. Kumar. 2016. "A Three Dimensional Vertical Differentiation
Model: Implications For Segmentation, Targeting,And Positioning".SSRN Electronic Journal.
doi:10.2139/ssrn.2758430.
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