Marketing Essentials: Taxify's Marketing Strategy and Analysis

This report delves into the core aspects of marketing, beginning with an understanding of the fundamental responsibilities and key roles within the marketing function. It examines current and future trends, emphasizing the increasing significance of digital media and mobile marketing strategies. The report explores how marketing roles are interconnected with other organizational departments, such as human resources, production, finance, and technical departments, highlighting their collaborative nature. The study then applies the 7Ps of the marketing mix to marketing planning, business objectives, and processes, providing insights into how these elements can be effectively utilized. Furthermore, the report includes the development of a comprehensive marketing plan, outlining clear goals and a focused approach to achieve them. The report uses the case of Taxify to illustrate these concepts in a real-world context, analyzing its market entry into London and strategies to compete with Uber.

MARKETING ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
P1) Understand responsibilities and key roles of the marketing function.................................1
Current and future trends of marketing:......................................................................................1
P2) Explain how roles and responsibilities of marketing are interrelated with wider
organization.................................................................................................................................4
P3) Organization using 7Ps of marketing mix to the marking planning, business objectives
and process. ................................................................................................................................5
P4) Prepare a marketing plan......................................................................................................8
Marketing plan............................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing can be explained as those activities which are carried out by an organization in
order to promote buying and selling of product or services. It involves selling, advertising and
delivering of products to the customers. The main motive of marketing is to recognize the
product, brand and firm in the eyes of the customers. Marketing of product or services is
important in the cut throat competitive world because it helps the firm to develop product and
services to meet the set goals as well to meet the emerging needs of the customers (Babin and
Zikmund, 2015). Taxify is serving it's services in 26 countries across Australia, Africa and
Europe. Now, company is trying to enter into London transport market and is awaiting for
licence approved by government. Neck to neck competition with Uber will be there by serving
cheap rate to customers. This report includes roles of marketing with current and future trends,
how they are interrelated with other functional units. It focus on responsibilities and how they
will be changing in the future. 7Ps of marketing is studied and how are they helpful in achieving
business objectives. Additionally, a marketing plan has been framed with clear goals and focus
on how it will be designed.
P1) Understand responsibilities and key roles of the marketing function.
Marketing function can be discussed as the responsibilities and roles of the business
associates which help the organization to source and identify potential product and service in the
competitive market and then helps in it's promotion as well. The functions of businesses are
product plan, development process, sales, finance, marketing research, customer services etc.
The marketing functions includes distinguished responsibilities of the organization and
are responsible for the growth of the business in the global market (Baker and Magnini, 2016).
Here, marketing functions consists of product development, strategy management, sales support
system, strategy management, distribution systems, human resource etc. These have various
roles and responsibilities to promote the product or services in the global market. Whereas, some
of the key roles and responsibilities of marketing functions are finance, product development,
market research, planning, selling, communication etc. There is a minute link between marketing
functions with other organizational functions units in an firm.
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Current and future trends of marketing:
The current trend of the marketing is that they are largely involving digital media in the
marketing of the product or services in the global market. Digital marketing is currently used by
every company so that more and more potential customers can be targeted towards the services
framed designed by the business associates. In today's era customers are more on digital
platforms and are active user of this platforms. So to use this platforms to promote the service
globally can turned out to be profitability. But gradually current trend of marketing is frequently
changing to pull customers for the service (Baker and Saren, 2016).
Here, are certain future trends of marketing which are explained below:
Maintaining transparency between customer and organization: In the coming trends
firms need to maintain transparency between customers and the business associates so that trust
and faith between them can be build. Which will help the organization to create loyal and
trustworthy customers so that profit can be maximized and further growth and expansion can be
done in the cut throat competitive world. In online platforms, selling of the product or services
requires transparency so that customers can have the trust to purchase the product or service.
Involve mobile marketing strategy in the marketing: Customers want to control
everything in palm with there mobile phone so the companies are trying to attract customers
throw mobile marketing. Business associates should hire EE limited to develop blog for mobile
marketing so that huge market ratio can be captured. People do transaction through mobile
weather is booking cabs, checking rating of different cabs, publicity about the taxi running of the
road, viewing profile, background about the different taxi companies etc. introducing services
throw mobile marketing is gradually entering the market to give neck to neck competition
(Blythe and Martin, 201).
Involve user generator to attract customers: To search and attract customers towards
the service and convincing them that their service offered is the best is a big challenge in the
global market. Taxifl need to use different marketing strategies like mobile marketing to gain
profit margins. Customers buying behaviour is also changing tremendously and they also adopt
different marketing tools like SEO, mobile marketing to search out their brand. To bind
customers for longer time period organization should use EE limited should develop a blog to
use mobile marketing.
The key roles and responsibilities are discussed below:
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Buying: The way advertisement of the product is done it totally depends on the buying
pattern of the customers. If the services are promoted in effective manner then more customers
are attracted towards the service and make up mind to use it at least for trail basis. Which
indirectly raise profitability of the business. Example: Taxify is coming in the market with the
taxi service with better pay of the drivers as well as low cost will be charged from the customers
according to the kilometres. This will affect the buying power of the customers and will be
beneficial to the taxi app (Bastable, 2016).
Market information: When the research was done in the competitive market marketers
came across that taxi drivers are paid less and customers are charged large amount which is
unfair. So, the market information was turned into business opportunities and taxi app was
developed. Example: Taxify gathered information that taxi drivers are paid lees according to
their work in their work so , they decided to increase the pay of the drivers which will help the
firm to hire potential customers for the taxi drivers. And brand image can be created in the eyes
of the customers.
Risk taking: Taxify is a new business in the global market and is coming in the market
with the strategy of charging low cost as per the kilometres. Suppose: Uber is charging 100 for 3
kilometres so Taxify will be charging 80 for 3 kilometres from the customers. This step is full of
risk but if it gets successful in the market this firm will the first choice of the customers in terms
of taxi riders. It will also help the firm to gain customers trust and faith for longer time duration
which is a positive sign for the business.
Selling: Taxify is using the strategies of better pay to the taxi drivers and charging low
cost from consumers it will indirectly raise the sales of service in the market. It will be able to
build loyal customers in the coming years with the business as well as potential drivers can be
retained for longer time duration. It will help the business to meet the set goals on time and
further expansion of business can be done in the cut throat market.
Marketing Concepts.
Marketing concepts are categorised into five major concepts which is explaining the core
of marketing (Campbell and Fabos, 2018). These concepts includes the current and future trends
of marketing so that successful marketing plan can be framed out. Here, are some of the concepts
which involve marketing are, production, selling, product and marketing which are discussed
below:
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Production concept: In this concept consumers are inclined towards the services which
are easily available in the market and are inexpensive in the current trend. While in the future
trend operational capacity of the business should focus more on raising the provide safe drive
and charge less from the customers.
Product/ service concept: In this concept customers can be retained with the business
when they served better services at a low cost. Switching option are more for the customers as
there are many apps of taxi in the market in the current scenario. Consumers choose those
services which provide better and safe drive at low cost and is available 24/7 hours with decent
taxi drivers in the coming trends.
Selling concept: In the current trends services sales volume can be raised by attractive
promotion of the services in the market (De Jong and Roth, 2015). More the effective
advertisements more will the customers gets attracted towards the product weather the cost is
expensive or of no use. But in the coming trends customers are more attracted towards better and
safe services.
Marketing concepts: In order to meet the targets in the competitive world business firm
needs to deliver better value to the services so that firm can generate profits at a large scale.
Marketing concepts depicts that brand recognition is must to connect with potential customers in
the future trends else business will be thrown out from the market.
P2) Explain how roles and responsibilities of marketing are interrelated with wider organization
The roles and responsibilities of marketing are interrelated with wider organization can
be explained as follows:
Marketing and Human Resource department: Marketing and human resource
departments are interrelated with each other in an organization so that smooth functioning of the
taxi business can be done. To make aware about the service proper marketing of the service
needs to be done in the competitive world. Example: Taxifl is coming in the London market
with cheap cost drive for customers (Gillespie and Riddle, 2015). The firm is facing tough
competition from Uber taxi so they are making effective strategies so that market ratio can be
captured and customers can be satisfied.
Marketing and Human resource departments: To explore successfully in the global
market parallel working of the marketing and human resource department is very necessary. The
roles and responsibilities like, selling, market information, risk taking, sorting, transporting etc.
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plays a vital role in the business upliftment. To launch a new product in the market human
resource helps the firm to measure the activities of the drivers so that proper training and
development in their working can be done to meet the set goals on time.
Production and marketing departments: Production department and marketing
department are interrelated with each other for there operations in the wider organization. As
through advertisements it can be decided by the taxi app how the services of the taxi can be
improved more or how much more taxi and potential drivers will be needed in the global market.
Marketing and Finance departments: Taxifl is marketing it's product across the globe
by various mediums like, radio, print media, online sites etc. all this are done to attract the
customers at a large scale (Hugos, 2018). Marketing and finance are correlated with each other
so that Taxifl does not suffer from finance essential shortage and accordingly marketing plans
can be made. To come up with new service in the market near competitors like Uber who has
captured huge market ratio as well has fulfilled the customers needs on time. So it's a big
challenge for the firm to advertise it's products in effective manner so that shortage of funds does
not occur. Example: marketing of Taxifly in the market requires huge funds so both the
departments have to coordinate on their level so that marketing of the service is possible as well
as business is not running short of funds.
Marketing and technical department: Technical departments helps the marketing
department as online booking is preferred in today's era. If the technologies are managed
properly then sales or booking ratio of the taxi can be raised which will lead to growth and
expansion in the market. Marketing and technical departments run parallel so that customers
quarries can be resolved and brand image can be created in the ways of the customer. Solving
quarries immediately on priority basis creates good image on the services advertised in the
market. Example: Booking and payment quarries are resolved within no time then customers
creates a positive image of the company and whenever they look at the advertisement it creates
emotional bonding.
P3) Organization using 7Ps of marketing mix to the marking planning, business objectives and
process.
Marketing Mix is a set of controllable variables which the organization uses to influence
the target market (Lane, 2016). In marketing mix there are 7Ps which are, product, place, price,
people, promotion, physical evidence and process which is used by the business associates to
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frame or design effective marketing strategy. Marketing helps the business to sell their product in
the global market. The main purpose of marketing is to search out the targeted goals and
emerging needs of the customers and to guide the creative thought or idea of the product so, that
it can be successfully launched and profits can be maximized.
The 7ps of marketing mix are explained as follows:
Product: Taxifl is coming up in the London market with better and safe driving with
24/7 hours of service. It is coming with cheap rate for customers in the global market. It is
charging 20% less cost from the rest of the competitors like Uber. So that more customers can be
attracted for the service.
Price: Taxifl pricing policy is very less as compared to the Uber as a competitors. This
strategy has been done to capture market ratio as well as to create brand image in the eyes of the
customer. Organization is giving safe and best taxi service at low cost will pull the customers to
use Taxifl in their daily routine (Larson and Draper, 2015).
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(Source: 7Ps of marketing mix, 2018)
Process: Here, process means delivering your product and services to the targeted
customer in the due time (7Ps marketing model, 2018). Timely serving the taxi services in
effective manner will attract the customers to be a part of the Taxifl again and again. Providing
satisfactory services to the consumers reacts positive sign for the brand and turn out to be the
loyal customers in the long run. Carrying out the process in systematic manner saves time and
money of the business associates which can be invested in some other productive outcomes in
the near future.
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Illustration 1: 7Ps of Marketing Mix

Physical evidence: In this case potential and well trained drivers are hired so that
customers does not face any kind of problem in the route or location. As well consumers will be
able to trace the location of the taxi in their phone which will assure them a sense of security
while travelling at night. Physical evidence includes type of taxi, driver, timing of arriving, way
of communication and place where the service is offered. All this factors affect the consumers
while choosing the taxi cabs for travelling. Physical evidence is also judged by there dress code
of the drivers and behaviour (Malhotra, 2015). If the evidence is satisfactory then only customers
are ready to take ride.
People: Innovative product is made for the customers benefits as well as to meet their
emerging needs in the global market. Cheap rate will attract the customers which will indirectly
raise the margin of profits. People refers to firms staff members who work day and night to fulfil
the customers emerging needs. Uplift the business as a competitive advantage in the market by
hiring right candidate, training employees timely to develop their skills and finding ways to
retain effective staff in the Taxifl for long time duration.
Promotion: Effective promotion of the taxi app will attract the customers at a large scale
in the competitive world. Promotion of the services in effective manner directly pull customers
towards the service which help the organization to bind customers for longer time duration.
Promotion of service can be done by various means like, print media, radio, elision, online
platforms etc. but out of this digital marketing is able to attract customers towards there service
at a huge scale as it provide transparency of information.
Place: Customers to your product is a key to success and it is very important for the
organization to ensure consumers can find out your location easily (Pike, 2015). Many times it
has been seen that consumers are not able top find the location of the taxi cabs which creates
negative sign for the brand. It ultimately leads top decrease the sales ratio because the service
was not efficient and satisfactory.
P4) Prepare a marketing plan
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Marketing plan
A marketing plan is a comprehensive document or blueprint that in reality outlines the
advertising and marketing efforts for the coming year of time. This actually describes business
activities at an optimised stage or also assist to find higher priority or scope for development of
the company and its products for longer period of time. Comprehensively, this is a planning for
final action which in reality needs to be made to enhance business performance at an optimised
stage or platform (S.D., 2016).
Overview of the company: Taxify is an international transportation network company
founded and headquartered in the Estonia. The company develops and operates bolt mobile app,
which allows people to request a taxi or private driver from their smartphone. This business
entity is looking for expanding their business into an UK market. The revenue of this leading taxi
service 1.8 crore US dollars. Taxify is currently operating in Africa, Asia, North America etc.
Products or services: Taxify offers services comprises of AC taxi service, in which they
offers one to one cab service to their customer at an affordable pricing or level of costing. They
are majorly focused on improving their quality service taking customer's feedback or opinions.
Vision & mission: The major vision of the Taxify is to “customer's comforts” and
mission is to increase product reach on an international platform to rise customer productivity
and acquire their matter of interest for business benefits of the Taxify at an optimised level.
Strategic objectives: The strategic objective of the Taxify will be set with support of
SMART goals, by which Taxify will target customer's of UK in time period of 1 year, with
measured resources such as cars or infrastructure, which has been setup for business based
effectiveness for a Taxify. This entering into a new market will be last long for initial 3 years of
time. Taxify has decided to take on major target of attracting customer with longer ride or area.
In this, they are highly adaptable to use innovation to bring services into a productive manner to
build business productivity at an utilised period of time (urvis, 2015).
Strategic approaches: In order to find scope for development of the Taxify service in the
UK market, this is necessary to have major discussion on the STP analysis of comprises of
segmentation, targeting and positioning for longer period of time. The detailed discussion over
STP is as follows:
Segmenting: In this context, Taxify will use demographic and also geographic variable of
doing segmentation which will assist Taxify to decides on which level of market or customer
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needs to be pin point or sustain. In demographic, Taxify has major opportunities to target user'
above the age group of 18 years and through geographic, their major focus will be targeting user
among different cities or location of the UK such as London, Cardiff, Manchester etc. In order to
this, Taxify must go for detailed market research on what level, customer will be acquired or
gained. Research will be conducted in major cities or location of the UK with measure to acquire
major market in given period of time.
Targeting: In this context, Taxify is in requirement to know which area to target for the
customer who are majorly ready to use an “On order transportation service” over the public
transport services. Taxify have options such as premium, standard car service, which they can
acquired with support of market research which can be done in the initial stage of implementing
of the strategies (Rowley, 2016). Customer's majorly looking for affordable taxi service, which
Taxify have major opportunity to targets customer on basis of an affordable pricing, discounts or
promotions services etc.
Positioning: Taxify will try to position their entry in the UK market with support of TV
media, because UK have large number's of viewers for sports and others. Event promotion and
sponsorships can be suitable option for Taxify to acquire customer attention at an optimised level
or period of time. The social media is highly recommended as best way to gather customer
attention. This is because of increasing user base for a longer period of time.
SWOT analysis:
Strength Weakness
The major strength of the Taxify is its leading
position into the marketplace. Leading position
in context of revenue is best strength of Taxify
to bear risk based expenses.
Increased competition with Uber, DiDi, Cabfy
etc. Limited service segment such as only car
is a bigger weakness of the Taxify to generate
higher business position in the UK market.
Opportunities Threats
Focus on affordable price charging in which
customer base is higher and comes up with all
around city based taxi service is the major
opportunity for Taxify.
Uber is the major threat for Taxify in high
price segment, as their services are relatively
high and they majorly use to charge on this
context (Scarborough, 2016).
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Budget making: In this, budget structure will be prepared for next coming five years
which are as follows:
BUDGET
PARTICULARS I Year II Year III Year IV Year V Year
Initial money 4000 8400 13500 13860 17640
Investment 11500 12000 26840 31500 15470
TOTAL 15500 20400 40340 45360 33110
MARKETING OUTLAY
Promotion 6450 2950 4150 3420 3330
Sales publicity 2500 1900 3500 2000 1000
Direct selling 3800 1500 5000 2900 5600
TOTAL 12750 6350 12650 8320 9930
Implementation and control: This business expansion will be last long, as opportunities
are relatively higher and diverse to have major customer gathering for their customer. Here,
Taxify is required to be comes up with strategic planning and formulation to enhance growth and
success of this project for longer period of time (Stern and Porr, 2017.). Control technique is
highly required to have productive command over this initiation of the business expansion
projects.
CONCLUSION
From the above discussion it can be concluded that marketing is very important tools to
sell out the product or service in the global market. It also throws light on the current and future
trends and how it will affect the business in the coming years. Different roles and responsibilities
have been done by the organization in order to survive in the market. 7ps of marketing mix helps
the firm to search the potential customers and how to attract them towards the service or the
product ( Routledge and White, 2015). Additionally, a business plan has been designed with
smart objective and strategies which can be implemented in the near future as a creative idea.
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