Report on Internationalization strategy

Internationalizati
on strategy

Contents
Introduction............................................................................................................... 2
Evaluation of selected target market.................................................................................2
Suitable Marketing Strategy for LYFT to enter in Singapore...................................................5
Suitability of market entry recommendations......................................................................7
Marketing mix recommendations.................................................................................... 8
References.............................................................................................................. 12

Introduction
The report brings out a discussion on LYFT, which is a ride-hailing organisation in US. Lyft
is a ridesharing organisation headquartered in San Francisco operates in 644 cities in US and
12 cities in Canada. The company is the second largest ridesharing organisation in US with
28 percent market share after Uber. The report elaborates selected population (target market)
for the Lyft in the Singaporean market based on their income level, growth level, size of the
market, and demographics. Market entry strategies has to be formed according to the
Singaporean market. While establishing in the foreign market, the company has to use mode
of entry to penetrate the Singaporean market. Identifying the mode of entry is quite
important, as Lyft has to take a support from the local market so that it can make its own
position.
Evaluation of selected target market
Currently, the population of Singapore is estimated at 5830702 on the basis of world meter
elaboration of UN data. 100 % population resides in urban area in Singapore.
Demographics-

Ride sharing has emerged as one of the most transformational growth sectors of Singaporean
consumer market. It has been seen that capturing market at an expense not only taxi services
but also from different companies such as Ola and uber.
Singapore is a country of opportunities for the Transportation and Logistics Network industry
as the main leading industry for its development, since 1965, it has attained the global
identification and very strong image in as the rapid developing country setting the exemplary
image of development for other developing countries (Adams, 2020). It has several
opportunities for the Transportation and Logistics Network industry because it deals in the
global transhipment firm its port hence it has major opportunities for the foreign
transportation industries managing the balance between the government and private running
transportation services in the country like Uber and Grabtaxi services. Targeted market for
the Lyft to enter in the industry will be based on the given demographics-
Age Lyft has to plan its strategies to deal in the
all age groups of the passengers, with more
focusing to provide the facilities to the
passengers according to their age. It has to
facilitate the service based on the demand
made by the passengers, while getting an
idea about the age can add extra features to
the aged and child passengers returning the
profitable returns to the company as
customer satisfaction (Goodall, 2016).
Gender Lyft has made some case of female safety in
the market of the united states and Canada,
it can focus on extra safety and security