Marketing Essentials Report: Taxify's Roles, Mix, and Plan Analysis

This report provides a detailed analysis of Taxify's marketing strategies. It begins with an introduction to the importance of marketing and its functions within a business context, focusing on the Bolt mobile application. The main body of the report explores the key roles and responsibilities of marketing functions, such as marketing research, customer service, promotion, and distribution, relating them to the wider organizational context. It then compares Taxify's marketing mix (product, price, place, promotion, people, process, and physical evidence) with that of Uber, highlighting similarities and differences. Finally, the report produces and evaluates a basic marketing plan for Taxify, including an executive summary, vision, mission, objectives, SWOT analysis, segmentation, targeting, and positioning, as well as an analysis of the 7Ps of marketing and budget considerations.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
LO 1.................................................................................................................................................1
P1 Key roles and responsibilities of marketing functions......................................................1
P2 Roles and responsibilities of marketing relate to wider organizational context...............3
LO 2.................................................................................................................................................4
P3 Compare the ways in which different organization apply the marketing mix .................4
P4 Produce and evaluate basic marketing plan for an organization.......................................6
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing plays an important role in business and its success. During marketing
enterprise perform functions and operations with the motive of promoting and selling of goods
and services in target market (Stern and Porr, 2017). Present report is based on Taxify company
develops and operates the Bolt mobile application, which allows people to request a taxi or
private driver from their smartphone, as well as electric scooters.
In order to focus on the report, it covers key roles and responsibilities of marketing
functions. Furthermore, it considered roles and responsibilities which can be related with wider
organizational context. Moreover, it provides discussion on comparing ways in which marketing
mix applied in large consideration. At last, it produces basic marketing plan for the enterprise.
MAIN BODY
LO 1
P1 Key roles and responsibilities of marketing functions
Marketing is the activity of an organization with the help of which firm develops
relationship with customers and creates awareness regarding own products and services.
Marketing functions is a broad concept and include a wide range of activities starting from
identification of needs of the market to ending with ensuring that the customers are fully satisfied
(Gnizy and Shoham, 2018). These marketing functions are universal functions and are applicable
to each and every organization irrespective of their size, nature, criteria, etc. Thus, marketing
plays a very vital role in identifying the successful products in the market and then promoting
them and finally differentiating them from the similar products. Current and future trends of
marketing have changes and changing approach of advertising and promotion. For example, the
firm are making use of social media advertising to promote their products across the globe. Also,
evry function of firm is digitalized like the application of Taxify where travellers can request a
taxi or private driver. Further, the individual can track their route, location and can also send to
their family or guardians which promote safety when travelling. On the other hand, future trends
of marketing can be depicted where companies will be able to chat with the clients on particular
software to outline their individual requirements.
Taxify plays variety of marketing functions such as marketing research, customer service,
promotion, distribution system, etc (Nirschl and Steinberg, 2018). It is very important for a
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business organization to carry out its marketing functions efficiently in order to achieve the
objectives of the company effectively and efficiently. The key roles and responsibilities in
marketing functions are as follows:
Marketing research – it is one of the most important function of marketing and is
basically concerned with gathering of information from the target market as well as potential
customers for the purpose of formulating the marketing strategy so that the objectives of the
company is achieved efficiently and effectively. Through marketing research information
regarding various aspects of the business is collected and this information in turn helps in
identifying and analysing the needs of the market. Hence, if the Taxify manages to carry out
marketing research efficiently then it would be able to gain competitive advantage over the
rivalry firms. Marketing research is important and effective because with the help of this
marketer are able to identify the problems and opportunities from market. It is help to provide
proper information of market share, customer satisfaction, sales and employees performance. By
this, Taxify manager is able to analysis needs and wants of marketing and try to fulfil those.
With the help of market research, manager is able to improve sales activities as well as evaluate
performance of the company.
Customer service – It is that function of marketing which is concerned with keeping the
customers satisfied and happy (Harmeling, Moffett and Palmatier, 2018). Taxify can keep its
customers satisfied by taking care about their needs and wants before, after and at the time of
purchasing. Customer service is also very important from the perspective of building the brand
image in the mind of customers because the company which provides better customer service is
viewed as a reputed company as it is concerned about the well-being of the customers. Hence,
every business organization must lay emphasis on delivering efficient customer services in order
to run the business smoothly in long run.
Promotion – Taxify lays immense emphasis on promoting its product efficiently for the
purpose of boosting the sales and profitability of the company. Promotion plays a very vital role
in generating the demand in the mind of customers. The company adopts attractive promotional
techniques so that the existing customers are retained with the company while the new customers
are attracted towards the company. Thus, in order to promote the services of the company,
Taxify has adopted sales promotion techniques and the company even undertook wide scale
advertising to reach large number of people at the same time.
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Distribution system – another important marketing function is to develop an efficient
distribution system. It is very important to develop an efficient distribution system in order to run
the business smoothly in long run as with the help of an efficient distribution system, company
would be able to meet the needs and wants of the customers on time without any delay and this
in turn will help in keeping the customers satisfied(Barker and Richardson, 2015). Hence, Taxify
has worked a lot on creating an efficient distribution system.
Work and brand values – this is representative of feeling that products and services of
company. This is very important and effective function of marketing. This plays a very important
role at Taxify for build image of company and its brand values. With the help to this they are
communicated best brand values at market place by satisfying customers needs and wants.
Innovation – innovation is highly effective and valuable marketing function which is
plays an very important role in Taxify. With the help of innovation, company manager is able to
attract more customers towards the company. In this role of marketing function is work on new
promotion, build strong customer relation and improve conversion of messages and actions.
P2 Roles and responsibilities of marketing relate to wider organizational context
All the functions of marketing and organizational functions are inter-related with each
other and the basic reason behind this is that marketing functions are an important part of an
organization and the other functional departments also affect the organization. Hence, all of them
are inter-related with each other. Marketing functions are concerned as the backup functions for
other functional departments of an organization. For example: Taxify acquires assistance of
human resource department, production department, sales department and finance department
before implementing a marketing plan. Thus, the company ensures efficient communication
within and inter departments in order to attain the objectives of the business effectively and
efficiently.
Marketing manager of Taxify communicates with HR department to ensure proper
training and adequacy of staff members within marketing department. Further, the marketing
team interacts with IT team to develop understanding over the changes and advancement in
application in order to make people aware about the changes in application process. Marketing a
manger communicates with IT to convey them about the competitors and changing needs of
travellers to make proper updation in operating process (Sarkum, Pramuka and Suroso, 2017).
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LO 2
P3 Compare the ways in which different organisation apply the marketing mix
Basis Taxify Uber
Product It is formal named of Bolt which is
global transportation network firm
(Akbar, Omar and Yusoff, 2017). It
is the ride sharing app which is the
largest challenger of Uber. This
help to increase sales and profits of
company.
It is the global transportation
technology firm which doest
not sell products. They are
provided service through their
app for attracting the
consumers. This can aid to
increase market share and
revenue of company.
Price Taxify proposed novel pricing
structure where driver have to pay
only 15% commission per trip.
They handled to lower prices for
riders and develop take home pay
of driver (Rancati, Gordini and
Capatina, 2016). This help to
increase sales and profits of
company.
The pricing strategy cab be
dtermine as geographical
pricing. The price is based on
three factors, base rate,
estimated time and distance
and demands of rides. Uber
charges almost 25 to 30% from
thier drivers (Eletxigerra,
Barrutia and Echebarria,
2018). This can aid to increase
market share and revenue of
company.
Place Taxify is being active 25 cities.
Company started expanding with
cities, so that they begin investing
in the well-et up marketplaces like
Paris and Sydeny. It allows driver-
partner to earn more (Stern and
Porr, 2017). This help to increase
Due to network nature in its
business model, Uber does not
too many offices. Every person
downloading the app for
booking. Still, it is being active
more than 760 cities. This can
aid to increase market share
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sales and profits of company. and revenue of company.
Promotion Taxify focus on the online taxi
services (Eletxigerra, Barrutia and
Echebarria, 2018). This help to
increase sales and profits of
company.
Uber focused on offline and
online both services. This can
help to increase consumer
attraction. This can aid to
increase market share and
revenue of company.
People There are 682 employees worked in
the Taxify. Also, they focused in
the consumers as well. For
company, consumers and
employees are both essential for
firm. This help to increase sales and
profits of company.
There are 22263 employees
worked in the Uber (Folinas
and Fotiadis, 2017). As per
large level of presence,
consumers are highly attracted
them. This can aid to increase
market share and revenue of
company.
Process Company needs to provide service
on online (Hair Jr, Wolfinbarger
and Page, 2015). this help to
increase consumer satisfaction as
per online booking. This help to
increase sales and profits of
company.
They focus on stores as well as
online service. This aid to raise
the consumer attraction and
attention towards the services.
This can aid to increase market
share and revenue of company.
Physical Evidence Toxify create brochures for
services. This help to increase more
attention and expectation towards
the service. This help to increase
sales and profits of company.
Uber provide the visiting card
(Akbar, Omar and Yusoff,
2017). This help to increase
satisfaction of consumers. This
can aid to increase market
share and revenue of company.
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Figure 1: Marketing mix
(Source: Hanlon, 2018)
P4 Produce and evaluate basic marketing plan for an organization
Executive summary
this marketing plan is includes the vision, mission, objectives of company. This also
covers by the marketing audit by SWOT analysis and uses the segmentation, target and position
of company. Marketing mix which help to analysis the 7P's of market and also help to make the
effective and best marketing strategies. Budget is important and that is help to prepared manager
for their future expenses and also monitoring and controlling. Company will introduce the rental
car service to the consumer.
Mission
 The mission statement of Taxify is “To bring transportation for everyone, everywhere ”
Vision
 The vision statement of Taxify is “Smarter transportation with fewer cars and greater
access and to provide hassle free and reliable and technology-efficient car rental services
to the consumers.”
Objective
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 To increase the sell of the services with 10% by the end of 2019.
 To grab the 15% market of Uber and Lyft and to take over the cab industry by being
cheapest, easy ride in 2020.
 To enhance their marketing campaign from 15%.
Marketing audit
Strengths Weakness
 Taxify has its operations in more than
30 countries and it provides different
facilities to the customers like facility
of booking taxi easily from mobile
phones etc (Eletxigerra, Barrutia and
Echebarria, 2018). In more than 50
cities of Africa, Australia etc. It is the
leading strength which influence on
decision making of company in relation
to consumer attraction towards the
firm.
 Taxify is giving tough competition to
other companies like Uber by providing
innovative services to existing and
potential customers.
 The strategy of Taxify related with
price, convenience is not so effective
which is the major weakness which
influence decision on making of firm
with regard managing changes as per
emerging opportunities of the market.
 Taxify provides rental services of
requesting taxi, etc. on very short
duration due to which firm losses its
potential consumers. However, to
overcome this weakness it has become
essential for Taxify to manage change
in taxi services on the basis client’s
requirement and trip.
 Lower consumer loyalty and awareness
highly influenced on decision-making
in relation to increase attraction of
consumer towards the services of
Taxify.
Opportunities Threats
 Taxify has an opportunity of offering
facilities of taxi driver for more than
one day so that, it will help the
company to increase its market share
 Taxify is facing intense competition
from other companies like Uber which
are influenced on decision of making of
company in relation to advertisement.
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(Boschetti and Massaron, 2015).
 Company has an opportunity of
expanding the business by launching
electric scooters which influences
decision-making of firm in relation to
increase profits and sales.
Marketing mix for the new rental car services
Product: The Taxify company puts great emphasis on dispatch, mobile data, and credit/debit
card markets of taxi industry. The company is service company and does not provide physical
products to its customers. This is a multinational transportation technology industry that has clear
advantage for rental car services. This may include overview for pricing before booking, one-tap
booking, cashless convenience and also feedback options.
Price: Taxify aims at implementing upfront pricing technique for its new car rental services. In
this pricing technique, customers are given with estimated quoted cost for its rental services. This
is given before confirming the final order (Stern and Porr, 2017).
Place: Anyone can become the customer of the Taxify company as it operates on online basis.
The services can be booked or confirmed through the online mobile application. Taxify, being a
smartphone application facilitates customers to book the car rental at anytime from anywhere.
The mobile application can be downloaded and installed through Play store for Android users
and from App Store for iOS users.
Promotion: Taxify can effectively promote its new services through advertising and various
promotional techniques. The word of mouth publicity will also help Taxify for promoting its new
services. Company can rely on referral marketing and also on convinced corporate clients for
accepting the free rides and services to experience it (Hair Jr, Wolfinbarger and Page, 2015). The
free rides scheme work can bring pretty well results for Taxify and lot of people will start
availing for the new car rental service.
STP
Segmenting – As the Taxify launching its new services in the market which is now provided the
car services for a longer time like for 2-3 days not only to the few hours. In this company will set
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the segment market for the services where other car services not provide this service. This will
increase the sale of the Taxify services.
Targeting – Taxify will target the young people and the also to the middle age people who want
to go for long trip via car (Rancati, Gordini and Capatina, 2016). And it only allows those
customers who have licence to drive.
Positioning – As the Taxify is one of the popular car services providers and have good position
in the travel and tour market, but after launching this new service for customers who goes on
long road trip via car for 2-3 days (Akbar, Omar and Yusoff, 2017). This will help the company
to build new position in the travel and tour industry.
Marketing program
Channel Activity Time
Direct marketing E- mails, Messages 4 months
Digital marketing Social media 2 months
Commercial marketing TV and Radio, News paper 5 months
Budget
Marketing expense
E- mails, Messages £50
Social media £90
TV and Radio, News paper £70
Total expense £210
Monitoring and controlling
Monitoring and controlling is best and important part of organization to make changes as
per customer requirements. Feedback from customers are plays an important role to manage
effective at company by providing best and effective product and services to customers. By
monitoring manager of Texify is able to make changes by making some strategies and tactics.
With the help of this manager make control on their resources which are applicable in company.
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