Ingogo: A Situational Analysis and Marketing Strategy
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This presentation provides a situational analysis of Ingogo, an Australian company offering online taxi bookings and payments platform. It includes information on their competition, stakeholders, and marketing strategy. The presentation also includes a PEST and SWOT analysis of the company.
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Marketing management and digital communication Student name: ID number: Unit code: Unit name: Institution: Term: Year: Unit coordinator:
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Ingogo is Australian company whose main area of specialization is to offer an online taxi bookings and payments platform. The company offers customized 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 fares. Contrary to other companies offering taxi services in Australia, Ingogo’s system offers to its users an opportunity to book a taxi two days in advance. Background Information
Problem Statement:In Australia, the taxi and public transport remains very competitive. Ingogo does not operate in isolation and it faces a stiff competition from other key players. Stakeholder Analysis: there are three crucial stakeholders: tax derivers, Ingogo and the customers Taxi DriversIngogoTaxi Users/Customers Ingogo’s system act as a link between the taxi drivers and the tax users. Tax users will use their phones to book for a taxi service through the Ingogo’s system. Three main stakeholders dictate the existence of the company. Situational Analysis
Customer analysis:The company does not have a consumer age bracket and it serves a wide range of customers . The first group involves individuals or families engaging in recreational. Competitor analysis:The company does not operate in isolation in the taxi service market. It means that Ingogo works under stiff competition from Uber and public transport means. However, the company is striving to counter the competition and remain the key player in the transport sector. continuation
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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 commission they charge their drivers. Unlike Uber which charges between 22.5% and 30% of the commission of the payment the drivers receive, Ingogo is charging only 15 percent. 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. continuation
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 the environmental factor favoring business in Australia is improved security. With the high security within the country, the establishment and growth of companies like Ingogo is assured. PEST Analysis
Social In Australia, the culture of the people 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 at a fixed price (Business insight, n.d). 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 are able to access the Ingogo’s services easily. continuation
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Strengths : Innovative nature of the company and launch of new services Experience in offering services through accessible mobile applications Weaknesses : Ingogo offers its services in a few cities in Australia The company has no means of helping those without phones to enjoy their services Opportunities : company enjoy a large number of customers due to its fixed prices. The company is growing at a higher rate due to its accessible services Threats :Strong and stiff competition from other companies offering taxi services. Possible entry of new competitors in the market (Chaffey & Smith, 2013, pp.49). SWOT Analysis
Ingogo has grown to maintain its position as the third largest company in the taxi mobile payment space. The company offers the cab drivers an opportunity to process fares through mobile platform. Ingogo has strived to maintain the competition by offering a fixed price to its clients and also allowing the user to book a taxi two days in advance (Smith & Zook, 2016, pp. 52). The company is also striving to expand its services away from the taxi payment services to other services through launch of Ingogo Now, an accounting system to help small and medium companies to grow. Ingogo has also invested heavily on digital marketing to enable the company grow and maintain its brand awareness (Chaffey & Ellis-Chadwick, 2016, pp.23). Conclusion
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]. Retrievedfrom: http://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 andanalytics. Kogan Page, pp.51-56.