Marketing Management and Digital Communications Plan for Ingogo

Verified

Added on  2021/06/18

|18
|4125
|19
Report
AI Summary
This report presents a comprehensive strategic marketing plan for Ingogo, an Australian company specializing in online taxi booking and payment services. It begins with an executive summary and table of contents, followed by an introduction that outlines the purpose of the report. The situation analysis includes market summary, demography, demand analysis, SWOT analysis, and competitor analysis. The report identifies potential market segments, target market positioning, marketing objectives, and financial objectives. It also details the marketing strategy and marketing mix, including product, price, place, and promotion, and concludes with implementation and control measures. The report analyzes Ingogo's strengths, weaknesses, opportunities, and threats, and provides recommendations for improving its marketing efforts and competing effectively in the market. The financial objectives and goals are also discussed, emphasizing the importance of investment, cash flow, and revenue predictions.
Document Page
Running head: MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS
Marketing Management and Digital Communications
Name of the University:
Name of the Student:
Author Note:
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
1MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
Executive Summary
A marketing plan is the foundation of an overall business plan, which contains several actions
lists and a well written document for the benefit of organizations. It shows the steps or say,
actions that are being utilized by the organizations to achieve the marketing objectives or
goals. For instance, the marketing plan of a company includes their strategies of increasing
the business market share. The marketing plan helps in describing the methods, which can be
applied in order to fulfill the marketing objectives by utilizing the marketing resources of the
company. The purpose of the report is to create a comprehensive strategic marketing plan for
a company named Ingogo. In addition to this, the report highlights the company’s
competitors in the market as well its opportunities to grow. Ingogo is an Australian Company
that specializes into online taxi booking services as well as payments. Furthermore, the report
throws light on the potential market segments, target market positioning, marketing
objectives, financial objectives and implementation of the promotion mix, within the
organization.
Document Page
2MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
Table of Contents
Introduction................................................................................................................................4
Situation Analysis......................................................................................................................4
Market Summary....................................................................................................................5
Market Demography..............................................................................................................5
Demand Analysis...................................................................................................................5
SWOT Analysis.....................................................................................................................5
Current Competition...............................................................................................................6
Problem Statement.....................................................................................................................7
Potential Market Segments........................................................................................................7
Target Market Positioning..........................................................................................................8
Marketing Objectives and Goals................................................................................................8
Financial objectives and goals:..................................................................................................9
Marketing Strategy and Marketing Mix...................................................................................10
Product.................................................................................................................................11
Price......................................................................................................................................11
Place.....................................................................................................................................11
Promotion.............................................................................................................................12
Implementation and Control....................................................................................................12
Promotion Mix.........................................................................................................................12
Conclusion................................................................................................................................13
Document Page
3MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
References................................................................................................................................15
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
4MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
Introduction
A marketing plan can be defined as a major part of the overall business plan. A solid
marketing strategy is regarded as the foundation of a well written plan of marketing. It is a
comprehensive blueprint or document, which outlines the business marketing or advertising
efforts for the upcoming years. It also describes in detail the business activities, which are
involved in accomplishing the specific objectives of marketing, within a specific time period.
The marketing plan also gives a brief overview of the current marketing position of any
business, its target consumers and the marketing mix of the business, which can be utilized to
achieve the goals or objectives of marketing. It has a formal structure but can be utilized as
both formal and informal document that helps in making it more flexible (Armstrong et al.,
2015).
The purpose of the report is to create a comprehensive strategic marketing plan for a
company named Ingogo. In addition to this, the report highlights the company’s competitors
in the market as well its opportunities to grow. Ingogo is an Australian Company that
specializes into online taxi booking services as well as payments. Its taxi payments and
booking services are both for the passengers as well as its drivers. The organization also
provides its customers with a mobile application as well as a website, which helps them to
book cabs for now or later, from any part of the region (Ingogo.com.au, 2018). Moreover, the
report throws light on the potential market segments, target market positioning, marketing
objectives, financial objectives and implementation of the promotion mix, within the
organization.
Document Page
5MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
Situation Analysis
Founded in the year 2011 at Australia, Ingogo has been specializing in online
bookings and payments of taxi services. Ingogo Company has its own booking system, which
allows the customers to book their cabs from any part of the region. The analysis will help in
understanding its current position better in terms of marketing and it will assist in having a
clear understanding of what needs to get improved.
Market Summary
For developing a better market summary, the marketing plan that is being presented
for the Ingogo Company will address the topics of demography, demand analysis, SWOT
analysis and current competition.
Market Demography
The taxi industry in Australia is related to the tertiary sector of their economy and
claims to cover around 97% of the Australian economy. Hence, the company faces huge
competition in the competitive market, which may increase significantly. All the advertising
efforts of Ingogo Company are being developed on the basis of their benefits and services.
Demand Analysis
It is seen that the taxi fares of the country has been higher than the customers’
willingness to pay. This in turn, is reducing the travel volumes. Therefore, the demand for
mobile application cab services is increasing, as they are also providing car sharing options
among the consumers.
SWOT Analysis
Strengths Weaknesses
Well trained drivers.
The GPS trackers help the nearby
Inability to raise a large amount of
Document Page
6MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
cabs to pick up the fare, irrespective
of what they work for.
The company is the first service
company in Australia that provides its
riders with fixed rates, including all
charges and tolls.
There are no extra fees or surge
pricing during the traffic jams and its
system allows the users to book a cab
advance and that too, up to two days
(Mondal, 2017).
The taxi booking service
automatically locates as well as pings
all the taxi drivers, nearby, with job
request.
capital.
Less popularity among the non-
smartphone users.
Opportunities
Participation in the high demand
industries.
Future demand is steady.
Threats
Competitors from the same industry.
New entrants.
Current Competition
The major competitors of the company are Artesian Capital Management, Mobius
Venture capital, Sydney Seed Fund, Fat Hen, Blackburd Ventures and others. Moreover,
Ingogo has a strong customer base and the company has managed to win the hearts of its
target consumers. It offers its customers with several opportunities, like fixed fares including
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
7MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
all tolls as well as charges. The drivers are well behaved and serve the customers as per their
demands. They take the fastest route available and do not keep its customer waiting. They
always look out for new ways to reward their consumers and keep them satisfied
(Ingogo.com.au, 2018).
Problem Statement
The vision of Ingogo Company is to improve the cab services’ experiences for the
customers as well as their drivers. As per Ingigo’s manual, in just a few years, the company
has grown in a significant manner, with its offices at Melbourne, Sydney, Pertg, Adelaide and
Brisbane. They are now the third largest cab payment company at Australia. They provide
several opportunities for its target customers to earn and deliver better services to them
(Ingogo.com.au, 2018). However, the company’s biggest threats are its competitors, which
equally provide satisfactory services to its passengers. Moreover, Ingogo’s biggest competitor
is Artesian Capital Management, which has more than 152 employees than Ingogo.
Therefore, the company needs improve their cab services and employ more and more skilles
employees in order to compete on the international level. In addition to this, it is important to
enhance their marketing techniques in order to cater to the most number of target consumers.
Potential Market Segments
The biggest strength of the company is that it employs experienced workers and trains
them on a daily basis. It has a strong and market drive business model that allows them to
keep all the market entry techniques at place. It has opportunities of participating in the high
demand industry as well as steady future demands. Its target market includes almost all
segments of individuals belonging to the age group of 21-70. Moreover, there recent comical
advertisement campaigns featured some old women with a smart phone in their hands, which
portrays that they can also book a cab for themselves (Ingogo.com.au, 2018).
Document Page
8MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
The advertisements mainly targeted a not so tech savvy market and towards those
consumers who still use old school methods to board a taxi. Therefore, these campaigns of
the company helped them in sending a strong message to the older section of the society as
well. It also targets its consumers by offering them with luring offers as well as services.
Ingogo has introduced a game changing feature for its passengers, which will remove all the
uncertainties of experiences with the fixed fares. Thus, the company is transforming their
customer services’ delivery in the entire taxi industry through incentivizing the drivers not to
cancel their bookings (Sharma & Das, 2017).
Target Market Positioning
Target market positioning can be defined as the process of marketing, which acquire
the products of the advertisers. On targeting a market, the companies identify their target
consumers’ characteristics, who might have interest for their particular products or services.
The target market positioning involves advertising on each media platform as well as other
communication strategies in order to create a clear picture into the minds of the consumers.
By designing, the target market positioning caters to the needs, tastes, interests as well as
desires of the customers in their target market (Tanner & Raymond, 2015).
Ingogo Company’s target consumers generally include almost all segments of
individuals belonging to the age group of 21-70. Moreover, with its new marketing campaign
the company is also targeting the older section of the society. Their advertising campaign
criticizes the old school methods of calling and booking a cab. With Ingogo’s mobile
applications and websites, any individual can book a cab online, from any part of the region
(Smallbusiness.chron.com, 2018). The company is one of the leading online cab services in
Australia, which has managed to provide its customers with high quality services.
Document Page
9MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
Marketing Objectives and Goals
The vision of the company is to provide its customers as well as employees with the
best cab services and become the leading cab providers in Australia. Ingogo’s objectives and
goals typically involve in providing its customers with high quality booking services, so that
they do not face any transportation issue. They have several marketing objectives and have
undertaken advertising campaigns for promoting online cab services (Afr.com, 2018).
However, they need to expand their services in order to cater to the most number of the target
audience. These strategies include involving the digital media for marketing and promotional
purposes.
In addition to this, the company should also adopt website promotional techniques in
order to expand their services on the international platform. The company has been providing
its customers with several offers, but has to do more if they want to expand their business.
The founder as well as managing director of Ingogo, Hamish Petrie mentioned that the
potential consumer base is expanding and significant, due to their notable taxi services.
However, these steps towards their growth is immensely important and moreover, they need
to demonstrate the growth potential to their investors as well (Gupta, Rodrigues & Mathew,
2018).
Financial objectives and goals:
The understanding of the financial objectives and goals is extremely important. It
forms a major part of marketing plan. It is inclusive of certain financial indicators:
The company, Ingogo requires a high budget for their promotion of sales, they have to
invest an amount in the activities that are related to sales. This includes the funds that
are required for the development of the products, the promotional activities and a sum
of money is required in the advertisement of the product.
tabler-icon-diamond-filled.svg

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
10MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
The company must make certain predictions related to the cash flow, profit, predicted
revenues and expenses. These are required to evaluate the predictions that have been
used at an early stage during the analysis of the value of the shareholder (Lee,
Kozlenkova & Palmatier, 2015).
This is an essential part for the management of the company. It provides the
organization with the insight into the required investments. Analysis of the financial part is
the starting point of any organization. This is the reason it forms an integral part of the
marketing plan (Rana, 2016). The financial plan is judged in the context of the assumptions.
The organization must consider their major things that are necessary for the business and the
cost that are related to those. In this case, the maximum investment that the company has to
make is the investment on buying the cars and recruiting the drivers and the staffs. The
management has to consider the estimate the payoff time, which is determined by issues such
as the point when a profit will start to be made (Armstrong et al., 2015).
Marketing Strategy and Marketing Mix
In this context the organization needs to evaluate and analyze four major questions.
They are:
What is going to happen in the future?
When will it happen?
Who will do it?
How much will it cost?
These are the major elements in the marketing mix. It is important for the organization to
target the audience personality, to create a brand personality and they should describe their
type of positioning in the market. The organization must identify a particular marketing
Document Page
11MARKETING MANGEMENT AND DIGITAL COMMUNICATIONS
strategy. Keeping this in mind the company has to keep the factor of 7 p in mind. This
include, price, place, people, physical evidence, promotion, process and product. The product
should be seen as a good representation of money. The company should offer the rides to
their customers in cheaper rates. The company should consider their audience to be the most
important factor. The customers should be offered the best service.
There are many such online cab organizations which the people can choose
(Epstein,Buhovac&Yuthas, 2015). The company must take care of all the factors that will
make the experience of the customers memorable while using their service. In case of the
physical factors the company must offer the best cars to the customers. After the completion
of the rides the company must offer a soft copy of the bill to the customers. The product of
the company is their service, they should innovate their everyday strategies related to the
development of service. The organization must provide their service everywhere. The pick
and drop facility should be offered to the customers in all the places. The company must put
stress on their promotional activities like, advertisement, forming awareness campaigns,
designing sales promotion programs, PR, performing personal selling. Promotion of the
products can be done in social media as it has turned out to be one of the most effective mean
of reaching out to maximum people (Adolfssson&Åström, 2016).
Product
Ingogo Company provides cab services to its target consumers and runs on an
operator based model. A technology based company, which helps its customers to book
their cabs and even two days in advance. The products of the company mainly include its
cab services, share cab rides and other facilities like, cab quality. Ingogo Company offers
its customers with various services like fixed fares without any tolls and taxes, no surge
pricing, ability to book a cab two days in advance and others. It has changed the face of
chevron_up_icon
1 out of 18
circle_padding
hide_on_mobile
zoom_out_icon
[object Object]