Marketing Plan for Taxify : Report
Added on -2020-07-22
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MARKETINGESSENTIALS
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1LO 1.................................................................................................................................................1P1. Key roles and responsibilities of marketing function............................................................1P2. The way roles and responsibilities of marketing relate to wider organizational context......4LO 2.................................................................................................................................................8P3. Comparing ways in which Taxify and Uber apply marketing mix to marketing process toachieve business objectives.........................................................................................................8LO 3...............................................................................................................................................10P4. Producing and evaluating a basic marketing plan for Taxify..............................................10CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONMarketing is an activity or process of creating, promoting, delivering products andservices that have value for customers, society and business. It is the social process by whichindividuals and companies attain their needs through creating and exchanging value with others.This report is based on the international transportation company “Taxify” headquartered inTallinn, Estonia which is awaiting license to get launched in the UK market. This firm hasoperations in 28 countries across Europe, Africa and Australia and is expecting a successfulentry into the London transport market by applying for a private hire license with Transport forLondon (Tfl). The purpose of this study is to understand and attain board detailing of role ofmarketing, elements of marketing mix and its interrelatedness with other functional departmentsof Taxify. It also discusses about roles and responsibilities of marketing and its contribution toorganizational objectives. LO 1P1. Key roles and responsibilities of marketing functionMarketing is a crucial tool and a strategic discipline, which supports most of the activitiesof business and an essential element of corporate strategy or plan. It is the process or activity,which targets customers and informs rest of the departments in Taxify to deliver those goods andservices to them (Baker, 2014). It helps Taxify in identifying the source and potential productsand services for UK’s people and aids in promotional activities. Taxify focuses on practicalapplication and management of marketing operations. Marketing involves several activities likepreparation, planning and project managing of advertising resources to maximise promotion ofTaxify. 1
Illustration: Functional areas of business (Source: Functional Areas of a Business, 2015)Roles and responsibilities of MarketingConducting market research: To attain a clear understanding of demand, needs andexpectations of UK’s people from Taxify. It enables the firm to identify marketopportunities thereby helping in creating a marketing niche for Taxify’s products andservices (Bennett, 2010)Developing marketing strategy: They are responsible for developing strategic plans forTaxify, which clearly states promotion of its products and services to the targeted UKmarket.Identifying new business opportunities: Marketing analyses marketplace trends toidentify potential new markets for Taxify, which includes study of customer patterns,estimate future performance of its products, etc.Current and future trends in marketingMarketing of 21st century is in a transitional era where advanced and latest technologieshave brought a drastic change in marketer’s work, responsibilities and strategies (Brooks andSimkin, 2012). Needs and demands of market or people keep on changing consistently which hasmade businesses to keep pace with current trends of marketing to get adapted and retain business2
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