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Marketing Management Assignment : Grab taxi

   

Added on  2021-04-21

22 Pages4213 Words173 Views
Running head: MARKETING MANAGEMENTMarketing managementName of the studentName of the universityAuthor note

1MARKETING MANAGEMENTExecutive summaryThe aim of this report is to discuss about the internal and external factors faced by Grab taxi intheir business operation. In order to do so, various internal and external factors are beingidentified in this report. One of the major factors being identified is the increase in thecompetition in the market. In accordance to the identified issues and challenges, an ideal andeffective marketing plan is being discussed in this report. The discussed marketing plan is beingdesigned considering all the relevant factors and aspects. This report also discussed some keyperformance indicators, which will help to evaluate the marketing plan in the future.

2MARKETING MANAGEMENTTable of ContentsIntroduction......................................................................................................................................3Company profile..........................................................................................................................4Determination of the external environment of Grab........................................................................5Determination of the industrial competitiveness.............................................................................6Determination of the internal environment......................................................................................8Marketing objectives.......................................................................................................................9Determination of the target market................................................................................................10Demographic segmentation.......................................................................................................10Psychographic segmentation.....................................................................................................11Geographical segmentation.......................................................................................................11Marketing mix strategy..................................................................................................................12Product.......................................................................................................................................12Place...........................................................................................................................................13Promotion..................................................................................................................................13Price...........................................................................................................................................14Financial forecast...........................................................................................................................14The market:................................................................................................................................15Overcoming barriers to sale:......................................................................................................15Implementation activities...........................................................................................................16

3MARKETING MANAGEMENTProcess of evaluation.................................................................................................................17Conclusion.....................................................................................................................................17Reference.......................................................................................................................................18

4MARKETING MANAGEMENTIntroduction The current business scenario demands effective and innovative marketing strategies bythe contemporary business organizations. This is due to the reason that the current businessscenario for every business sector is highly competitive in nature and good number ofcompetitors is present (Hallback and Gabrielsson 2013). Apart from this threat for increase incompetition, there is other various factors in terms of the business environment are being facedby the contemporary business organizations. Therefore, it is important for the contemporarybusiness organizations to have an effective marketing plan in order to push their newlyintroduced products in the market and to increase their sales volume. One of the major business sectors that are witnessing the huge onslaught of rivalry amongthe competing organizations is the ride hailing platforms or the app based taxi services (Frenkenand Schor 2017). In recent time, more companies are introducing their online cab services in themarket, which further enhancing the risk for the existing and established organizations in thisindustry. In the global market, huge number of new services is being launched. It is important forthe particular brand to have effective marketing strategy to push their service over others. This report will discuss about an effective marketing plan for Grab taxi in theSingaporean market. This marketing plan will also discuss about the external and internalbusiness factors faced by Grab taxi in their business operation and the factors that will determinetheir sales revenue. Target market for the particular service will also be discussed in this reportalong with the ideal marketing mix strategy. Implementation plan, expected revenue andevaluation process of the marketing plan will also be discussed in this report.

5MARKETING MANAGEMENTCompany profile Grab taxi is one of the leading ride hailing services in Singapore. Currently, they arehaving their market presence in more than 5 countries and mainly in the South East Asianmarket. Their major services are taxi services, car rentals and shuttles services (www.grab.com2018). However, with the emergence of the companies such as Uber in the global market and therise of the Indian vendors such as Ola in the Asian market, Grab taxi is facing stiff competitionin the market from both ends. Thus, they are in the need of an effective marketing plan, whichwill ensure their performance in the intensely competitive market. Figure: 1Market scenario in SingaporeSource: (Bloomberg Quint 2018)From the above data, it is seen that Grab is way ahead in terms of the competition and inall their operating countries; they are having the status of market leadership. However, it is also

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