Report on Marketing & Communication of Addison Lee
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Added on 2020-05-03
Report on Marketing & Communication of Addison Lee
Added on 2020-05-03
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Running Head: Marketing & CommunicationAddison LeeMarketing & Communication
Marketing & CommunicationP a g e | 1Table of Content:Introduction...........................................................................................................................................3Task 1: Evolution of Marketing..............................................................................................................4Production.........................................................................................................................................4Product..............................................................................................................................................4Selling:...............................................................................................................................................4Marketing Orientation.......................................................................................................................4Task 2: Marketing Environment.............................................................................................................5Marketing environment & its importance to business......................................................................5Factors affecting marketing decisions of Addison Lee.......................................................................5Economic factors...........................................................................................................................5Sociocultural factors......................................................................................................................5Strength.............................................................................................................................................6Weakness..........................................................................................................................................7Task 3: Marketing Strategies.................................................................................................................7Objective...........................................................................................................................................7Segmentation approaches for Addison Lee.......................................................................................7Demographic & Socio economic............................................................................................7Consumer response approach...............................................................................................8Task 4: Marketing Mix...........................................................................................................................8Using Marketing Mix or 7P’s for Addison Lee....................................................................................8Recommendation..............................................................................................................................9Product..........................................................................................................................................9Price:..............................................................................................................................................9Promotion....................................................................................................................................10Conclusion...........................................................................................................................................10References:..........................................................................................................................................11
Marketing & CommunicationP a g e | 2IntroductionAddison Lee is one of the largest private hire services company operating in the UK since 1975, the company has been doing well since the time it started its operations. The company has gone leaps and bounds sever since. The company is now looking forward to work and rebrand its entire marketing strategy. For the purpose of the report, the entire assignment is divided into 4 sections, illustrating the evolution of marketing (describing the product, selling production and marketing orientation concept), it further moves to analysing both the macro and micro environmental factors for Addison lee (Porter, Pestle, SWOT are used as framework). The management wants to increase the market share of Addison lee and for the purpose it has to increase its audience targeting and come up with new innovative ways to market its services, the marketing mix will be studied to understand the 7P’sof marketing for the company followed by recommendation in its marketing strategy to gain a considerable size of market share and diffuse its new innovative strategies.
Marketing & CommunicationP a g e | 3Task 1: Evolution of MarketingA.Production: Production for Addison lee can be its newly designed GPS system to track the vehicle, its newly launched App, which was launched with the thought of getting the business model move to B2C in lieu of its earlier B2B model. This has seen a surge in rides for Addison lee, and with Umber’s license getting cancelled in London, creating a situation of win-win for the company.Product: The product in case of Addison Lee is the hire services they provide to the commuters. They provide cabs, taxi bikes, jets, coaches etc. to the people in London. Selling: Selling in Addison Lee happens through website (25%) &the mobile application (50%) which was launched in the year 2009. The company is getting good traffic both on its website and the application, the download on the play store has increased manifolds, which hints that the business is doing well.Marketing Orientation: It is a company philosophy focussed on discovering and meeting the needs and desires of its customers through its product mix. The company has gotten into ETA model for it, launched App, starting with sending personalized email to the clients offering value deals and has also changed its logo giving it a feeling of tinge and premium look.B. The orientation adopted by Addison lee is towards revamping the entire marketing and branding strategy. The company is on a mission to gain traffic from its new target audience. They have developed a new logo for the company, bold & with a premium look, in order to gain the market attention. The company at the same time is investing on enhancing the customer experience, in order to achieve that, the company has been working on data sciences and have started give ETA to customers, GPS services, etc. Also, another example of its marketing orientation is, providing customized deals to its customers, sending them deals in their mails, so that they can get the personnel touch from Addison Lee. The company is also focussing on peak off weekend fares, tippingthe cabbies and also coming up with new fleets to accommodate the increasing demand.
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