Group Management Report: Lyft's Marketing Mix Adaptation for UK Market

This report provides a comprehensive analysis of Lyft's marketing strategies for its expansion into the UK market. It begins with an introduction to strategic marketing and Lyft's current brand presence, followed by an examination of the adaptation and standardization of the marketing mix, including product, price, place, promotion, people, process, and physical evidence. The report then delves into the Customer-Based Brand Equity (CBBE) model, outlining its four levels: brand identity, brand meaning, brand response, and brand resonance. Furthermore, the report explores integrated communication mix and methods, such as advertising and direct marketing, and discusses methods for measuring the success of marketing efforts, including return on investment, conversion rate, profitability, and market share. The report concludes with a summary of the key findings and references used in the analysis.

Group Management Report-CW2

Cover Content
 Introduction
 Adaptation & standardization of marketing mix
 CBBE Model
 Integrated communication mix & methods
 Measurement of success
 Conclusion
 References

Introduction
Strategic marketing is one of the most popular concepts that is
part of every organization and is affecting the way they are
forming different types of strategies. Lyft is a American ride-
sharing brand that is based in California. They are willing to
develop applications and markets in UK. For this present
report is based on discussion of different components that are
helping them in laying their functions in different parts of UK
with the help of their existing brand image in existing
countries. There will be new feature that will be added by
Lyft in UK that is haring cab facility.

Adaptation & standardization of marketing mix
Adaptation of marketing mix: It is a concept that is related to adapting of the different concepts
that are related to changes that have to made according to the target market in which the
organization is entering.
standardization of marketing mix: In this concept there are no changes that are made by a
particular brand when they are targetting a new country instead they are willing to keep a standard
set of prices that can help them in establishing their functions.

Continue.
Marketing mix strategies of Lyft:
There are different components of marketing mix that can be used by Lyft as a part of the their new
strategies that have to be formulated in the course of their new market that is being targeted that is
UK.
Products: Lyft is offering different services such as car rides, scooters, deliver system and bicycle
sharing system.
Price: Prices of lyft are competitive enough but it varies according to the type of car selected by the
rider.
Place: Lyft is presently serving in many different locations across world such as European Union,
south and central America, Asia, Africa, New Zealand.

Cont...
Process: The overall process is based on a person willing to enter the destination and Present
location according to there there are nearly available rides that are shown in the application
with a estimation of price.
Promotion: Promotional strategies are one of the most critical aspects that helps in attracting of
new customer’s. Lyft is presently using hoardings, print media for the purpose of advertising
their brand.
People: It consist of all the stakeholder that are helping in ensuring functioning of the organization
Physical evidence: Lyft serves their customers by using a application and a dashboard to notify
their passenger as the drivers arrives

CBBE Model
CBBE Model
CBBE model is customer based brand equity
model that is adopted for the purpose of showing how
the success of a brand can be attributed with the
customer attitude towards the brand. This model was
devised by Kevom Keller and is a part of the book
mighty strategic brand management.
It is a pyramid shaped model that is used for reflecting
show to form a strong foundation of brand identity
towards development of brand equity resonance.

Cont...
Level 1: Brand identity:
This is the initial aspects of this model that is based on how the target segment of customers are
looking at a particular brand in term of its different position as compared to other brands.
Level 2: Brand meaning: This aspects of CBBE Model is to ensure that customers are becoming
aware of the brand they are willing to know more aspects related to it. They are going to have
questions about style, reliability, durability, value for money. This is divided in two categories:
1) Brand performance & 2) Brand imagery

Cont...
Level 3: Brand response: In this level of CBBE model there is a scenario that feelings and
judgment are very difficult to separate and it is very personal for each individual. Once customers
are able to judge a brand in a irrelevant manner then it is very difficult to change their opinion
related to it. Another type is the value comparison that is fairly or harshly and add this to the actual
interaction and the prescribed reputation.
Level 4: Brand Resonance: In this level of Kellers model is the resonance of customers. This
factor related with the aspects that if a customer is loyal to a brand then they will it consider it
superior. There are many elements that are relate to customers such as providing them with high
value, lifetime services, customer service.

Integrated communication mix & methods
• Integrated communication mix & methods: There are different methods that can be apart of
marketing communication mix and can help in making a direct or indirect communication with
their target segment of customers. In case of Lyft this Brand is willing to enter in UK for this
they have to consider certain elements that can help in laying down channels of communication.
Some of such modes of communication are mentioned below:
• Advertising: This one of the most popular non personal form of communication. In this a
organization can reach to large mass of audience in a very short period of time.
• Direct marketing: It is also a communication channel that consist of making direct interaction
with the end users with a objective of promotion of a product or a service and further
communicating with a buyer to make a purchase.

Measurement of success
Measurement of success
For the purpose of tracking Whether the set objectives have been achieved by a organization or
not there is need to understand some of the methods that can be adopted for the purpose of making
a check whether the set objectives have been achieved or not. For this there are certain methods
that have been developed to to measure the level of success. Some of these methods that can be
used by Lyft in order to make a detail assessment as mentioned below:
Return on investment: This is a method that can be used for the purpose of understand the
return that is on the investment that is made by a organization Lyft can also use this method for the
purpose of understand what are the possible returns.

Cont...
Conversion rate: This is also a method that can be used for the purpose of measuring the number
of people who are converted into customers. This criteria is same for the individual customers.
Profitability: This factor measure the profit earned according to firms investment level in their
total assets. The calculation is based on net income divided by total assets. The higher percentage
will result in higher growth.