Marketing and Customer Analysis Using the product, service, or business idea tha
ID: 351672 • Letter: M
Question
Marketing and Customer Analysis
Using the product, service, or business idea that you developed in the your business plan from the W3 Assignment, evaluate the factors important in conducting a detailed marketing and customer analysis, including:
Market potential
Evidence of customer interest
Relevant buying motives and customer requirements
Present and potential competitors and overall competitive intensity
Short- and long-term market influences
Market changes presently taking place
External regulations
Market history and traditions
Present and potential obstacles facing the market
Market gaps to be filled
Opportunities for partnerships with other firms in the industry
Evaluated the most viable market position for your new product, service, or business.
Submission Details:
Submit your report in a 4- to 5-page Microsoft Word document, using APA style.
Explanation / Answer
Uber is biggst application based taxi providers in the world. Uber has been dominating the international as well as local market in United States of America from the very beginning of the taxi industry. Uber has successfully implemented different innovation as well as implementation in the taxi industry by implementing new technologies as well as Strategies for business.
Uber has been leading in strategic implementations, it can be further defined as follows.
Referrals
Uber use as a referral program to attract the customer towards their service. By providing a reference to the customer uber provide coupon in exchange to every referred customer and this specific factors has been many customers to Uber profile. Uber has been delivery service to the different customers in different Markets and this strategy is constant in each and every market across the globe. Uber referral program is a huge success and this program is also copied by different competitors as well.
Customer Loyalty program
Has been running a customer loyalty program since last few years. Customers who have taken more than hundred ride in Uber falls under this category and have special access to greater services as well as commitment from uber as well as priorities in terms of service provision. This Loyalty program maintain customer satisfaction and is the customer satisfied all the time while they are using Uber services.
Stunt events
Whenever Google launches a new service or scheme it provides stunts to the market like riding with famous personalities and other delights as well. This specific skin increases the customer interest in the company and directly highlights the company into the customers eyes.
Partnerships
Uber has been readily involved into the partnerships. Partnering with different Hotel change as well as online store to provide coupons for Uber is one of the main strategies of Uber to get customers from their website to the cabs. This is Pacific strategy has helped over to get more customers on board and to increase their services.
Review system
Uber always reviews the customer satisfaction by pointing out rating platform on the mobile applications which directly affects the cab drivers behaviour and promote it to behave more ethically to the customer to improve the overall service experience. By rating the driver company also get an idea about the specific driving style as well as pattern of the driver.
Multi channel approach
Uber has successfully integrated itself into different platforms and most recently Uber has contacted facebook messenger to provide their services for booking the cabs. Having a multi channel approach and implement print platforms Uber has directly created a more intuitive environment for its business. By launching different schemes under the same application uber has defined a new value towards its business operations.
All of these strategies help uber to maintain an ethical working environment for their customers. by maintaining the customer loyalty and providing different programs at different platforms, was successfully gained and advantage over its competitors. Company has a policy of being involved in the most ethical terms for a ride experience towards the customers which improve its overall loyalty towards the brand. By early adopting the Advocate a method uber has implemented their strategies to take a competitive legal advantage over their competitors. Enhancing the overall customer satisfaction increase in the mouth to mouth publicity and directly provides a competition to its competitors by having more satisfied customers. Having a Loyalty program on board Uber determined to provide the best services to its loyal customers on the basis of the right they have taken. Does a specific approach enhances the overall ethics of Uber towards its customers and create a loyal customer base. Uber drivers are also very benefited by Uber policies as they get better wages and less free time, google technological implementation and advancement in the application based algorithm services has increased the overall number of rides taken by the drivers which increase their overall pays.
Wow factor of Uber slide as well as availability in most of the areas across the globe as well as provision of the discount and coupons is a huge competitive advantage for Uber to compete in the taxi industry. As Uber have a very long experience of the same field they also know the implications as well as different errors that can occur in industry while expanding their business is to the new countries.
These specific factors and policies help Uber to mitigate overall competitive pressure.