Executive Summary and Introduction

Discuss about the Marketing Plan For Ingogo Company.

The following report has aimed to prepare a marketing plan for Ingogo company that has its base in the island continent of Australia and specializes itself in online taxi booking and payments. The company serves areas of Melbourne, Adelaide, Sydney, Perth and Brisbane. The following report provides a sustainable and well formulated marketing plan for its growing range of operations (Armstrong et al. 2015). The report consists of a number of different marketing concepts along with different kinds of marketing principles. The report starts with a brief executive summary and introduction where the contents and details of the report have been provided in brief. This follows with a situational analysis that explains the current condition of the company, the market scenario and the brief on the history of the organization. The analysis of the segmentation, targeting and other concepts has been another notable point that highlights the marketing concepts in a more detailed way. The report also deals with the financial objectives of the company which has added further scope to the project. The detailed report is as follows.

As mentioned earlier the following company is an online application service provider especially for app based cab services and other payments. The following organization was established in the year 2011 and serves the taxi booking and logistics industry of Australia. The business enterprise owns its own set of GPS enabled booking system. The following technology has enabled the users or the service providers to choose or pick up any taxi or passengers respectively that will be available nearby (Camilleri, 2018). The organization was the first such in Australia that provided the riders with fixed fares. This included tolls and different charges and charged no extra fare for the other delays or traffic in the roads. The company has achieved quality success in the market just because of its extensive marketing campaigns. The marketing concepts and the marketing strategies that the organization uses are unique in nature which helps them to gain a strategic competitive advantage in the market. The market research helps to define the idea of the potential customers, projected growth, determine and assess competitors and many more as such.  The situational analysis of the company will involve the construction of a SWOT analysis.

1. Strength- The main strengths of the company are its unique concept of involving all the app cab based services under one belt. The following concept helps the organization to provide the users with unlimited ease for travelling in Australia. Providing such unique services has helped the company to be profitable and earn considerable amount of market share in the business.
2. Weakness-The absence of a proper training program for the employees of the company often leads to problems as the IT experts who handle the application often face managerial level problems. This makes it difficult for the growth of the business. On the other hand the lack of adequate funding has limited the scope of the management to expand the business internationally.
3. Opportunities- The strengths of the following business must be well utilized by the organization of the company to enable its proper growth in the market (Dinnie, 2015). The technological advancements of the organization can help them to become one of the topmost cab based application providers not only in Australia but in overseas markets.
4. Threats- The advancements in technology and the amount of profit from the business have also attracted and are still attracting other people to open similar businesses. A number of new companies offering similar services have already made its headway in the Australian market (Camilleri, 2018). Apart from such threats government regulations regarding the fares of the taxi has also been a threat for the organization.

The report deals with the different marketing concepts and marketing elements of the business of Ingogo Limited. The address of the following report aims to provide a sustainable and efficient marketing outlook for the mentioned business in the coming years.

Situational Analysis

There are many ways in which the market can be segmented. A marketing professional has to decide on how to segment the market according to the demands of the product and services that are offered by the company. Often the conjunction between two or more segmentation creates the perfect set of strategies that helps them to attain the best success in the business. There are generally four different kinds of segmentation which are, Geographic Segmentation, Demographic Segmentation, Psychographic Segmentation and Behavioral Segmentation. According to, Dinnie, (2015) the management of the mentioned software company generally has a wide range of customers starting from regular office goers to a number of different passengers who books their cabs through the software application. The company has combined the demographical segmentation approach and the lifestyle approach of the business to operate their business in Australia. The demographic decisions have been mainly done due to the different choices of income levels, income characteristics and gender divisions in different areas of Australia. The following elements help the organization to identify the areas where the use of the applications is number (French & Russell-Bennett, 2015).  On the other hand the use of the psychographic decisions shows the lifestyle in which the people of the cities of Australia stay and their preference for the use of the modern app cabs. In cities like Melbourne and Sydney most of the population uses app cab because of the comfortable rides and easy booking options. The management of the following company has thus utilized the opportunity and has regulated the fares of the taxi accordingly to attract more and more customers to use both the services and the taxi rides easily (Camilleri, 2018). Therefore the segmentation strategy that has been followed by the management has turned out to be a successful venture for them.

According to, Dinnie (2015) targeting is the next step after the formulation of the segmentation plan. Targeting as the name suggests involves the selection of the ideal set of customers that are believed to be the potential users or the buyers of the product or services. The management of Ingogo Company selects the potential target market of the business in accordance with the market research that is conducted by the management before the entry of the business into the market. The management selects the potential market on a wide range of different characteristics namely;

1. Frequency of use- One of the main things that has been considered by the management of the company to select the target markets has been the frequency of the use of the cab services as well as the frequency of the use of the online booking services by the people of the cities. This frequency of the usage of the services is determined to predict the success rate of the business in the particular city (Wright, Wright & Kooli, 2016).
2. Preference for cabs- The preference for the cabs in the cities is another major consideration for the business operations in different parts of the mentioned city. The market research shows that most of the Australian population prefers cabs and personal vehicles rather than public transport, thus the decision to launch the new application based services in different cities of Australia was to woo customers to book cab with pre fixed fares easily rather than booking cabs with extra amount of fare.
3. Fare structure of other cabs- The revision of the fare structure was another major milestone that helped the business to gain a stronghold in Australia. The revised fare structure for any cab bookings through the Ingogo website does not incur any extra fare rather than the normal displayed fare. Therefore the company targeted the market by fixing the following accordingly (Dinnie, 2015).

According to, Zia and Kumar (2016) positioning approach implies the implementation of the targeting. The company uses the selected targeting strategy to position itself into the Australian online transportation market.  On the other hand French and Russell-Bennett (2015) states that the organization has the aims to achieve some of the marketing needs of the business through its well formulated positioning strategy. They are as follows;

1. Operationally Excellent Firms- The mentioned application producing company has the aims to become the best operational firms in Australia which will help them maintain a competitive advantage in the market as well as enable them to provide reliable services to the customers. The unique fare structure formulated by the company and the advantage of using the services for booking app cabs of different companies is an additional advantage for the business house. Apart from this the logistics demand and supply of the organization can also make the organization one of the best in the business.
2. Technologically Excellent Firms- The Company already uses the latest and the most technologically advanced form of GPS that helps them to track the operations of the business much more easily and makes their operations smooth enough. The company also has plans to instill new and latest software to make the application smooth and user friendly in nature.
3. Customer Intimate Firms- Ingogo Company is one of the many customer intimate firms of the organization. It excels itself in serving the different specific needs of the customer. The company provides more emphasis on meeting the specific demands of the customers and thus provides different kinds of additional features and benefits for the customers that makes them happy and provides them with a much pleasant ride in the taxis.

Segmentation, Targeting and Positioning Strategies

Some of the main marketing objectives and goals of the following organization are;

1. Build Brand Awareness- Branding is one of the main objectives of the company and it needs to be done accordingly to gain the much needed momentum in the market (Wright, Wright & Kooli, 2016). Brand Awareness is thus one of the most intimidating tasks of the management.
2. Target New Customers- The marketing and sales team of the following organization must market its products in new and exclusive ways to reach out to a variety of customers who might show interest in the application (Wright, Wright & Kooli, 2016). It is important for them to target and search for new customers to increase the sales of the organization.
3. Enter New Markets both locally and globally- The main marketing strategy of the management of the business organization is to help the business adopt different strategies that will be useful for the growth of the business (Gillespie & Riddle, 2015). The entry of the company into the new markets and establishing them more strongly in the existing market will help the organization to make their business more popular and profitable.

Some of the main financial objectives and goals of the company are as follows;

1. Growth in Revenue- The main focus of the management of the mentioned organization is to search for new ways to increase the growth of the business. The management of the company provides emphasis on meeting the specific needs of the people by concentrating more on the sales and marketing objectives of the organization. The companies always tend to increase their revenue goals in terms of percentage increase.
2. Increasing the Margin of Profit-The profit margin of the companies can be increased accordingly by targeting new markets, aiming for more innovation, applying technology and many others as such.
3. Ensuring Sustainability- The company may face some financial crisis or any other forms of economic crisis in the coming times which can be mitigated only when a solid and compact financial planning is there in store (Wright, Wright & Kooli, 2016). The financial planning by the company helps the organization to ensure sustainability.

Application of Marketing Mix

The 4p’s of marketing mix have been implemented in the organizational structure with precise care which has helped the organization to establish itself as a leading application provider for app cab booking services (Zia & Kumar, 2016). A proper and effective marketing strategy of the company is designed to meet the objectives and goals of the organization. It also helps in providing values to the customers that is helpful for the organization to be one of the very best.  The main applications of the marketing mix are as follows;

1. Price- The price of installing the software and operating it is absolutely free for the customers. The company earns revenue from each of the bookings done by the customer from the app cab companies.
2. Product- The product of the company is the mobile based booking application that is used for the booking of the online cabs and making the different payments.
3. Place-The Company’s business is spread in different large cities of Australia and has effective planning to spread the business to other parts of Asia especially South East Asia.
4. Promotion-The Company uses online promotional advertisements to promote the application and also uses social media applications to make the people more aware about such an innovative product.

The main steps by which the management of Ingogo implements the marketing mix are as follows;

1. Setting the Right Expectations
2. Building up a team and securing the different resources
3. Communication of the plan
4. Setting up a task board for the achievement of the success.

Conclusion

The following report has explored almost all the different types of marketing elements that are applied by the management of the mentioned organization in the business to gain success. On a thorough analysis of the report the readers will have a proper knowledge on the marketing concepts, theories and elements that are used for the proper operations and the growth of the business in the modern competitive market.

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