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Challenges Faced by Ingogo

Discuss about the Marketing Management of Ingogo.

Ingogo Pty Ltd is positioned as a smartphone application that facilitates its consumers in making contact with its nearby taxi drivers within Sydney (Agrawal & Goyal, 2018). The company’s business makes taxi fast, easy along with trackable that informs its passengers on how close the location of a driver is and speeding up the recent and payment processes. A marketing plan for Ingogo Company serves as a comprehensive document which explains a business marketing along with advertising (Armstrong et al., 2015). It also elaborates the business activities associated in attaining the set marketing objectives within a given timeframe. The objective of the paper is to analyses the segmentation, targeting and positioning approach of Ingogo Company along with setting effective marketing and financial objectives. It will also consider developing an effective marjrting mix strategy based on which the company will be able to attain unique competitive advantages within the industry. Allocation of budget and promotion mix is also considered to be developed for the company.

Problem Statement

Despite being successful, Ingogo faces certain issues related to attaining competitive advantages within the industry. The company does not have any international presence and broad service portfolio (Baraldi, Fraticelli & PERNAab, 2015). Moreover, the advertising strategies of the company is not that competitive in comparison to its business rivals that can enhance its strategic position in the industry. Implementation plan of the Ingogo is a process of turning plans within actions along with encompassing all the conducts that puts the company’s marketing plan into operations. Successful implementation of the marketing mix can be measured through considering its organizational structure, people along with organizational culture within a cohesive program which supports the company’s marketing plan (Charlesworth, 2018). The strategic management problem that is faced by Ingogo Company is being within the service sector and several organizations have copied the similar business model as the Ingogo Company. Changing lifestyle, global warming, oil prices volatility, government regulations along with exchange rate that impacts the industry within which Ingogo Company is getting affected.

Potential Market Segment Discussion

Segmentation by Ingogo Company is conducted through dividing the market into two different groups of homogeneous characteristics (Chernev, 2018). The company’s potential market segment is deemed to be a mx of demographic and geographic variables segmentation that can facilitate the company in setting prices for its services. Ingogo Company requires to be aware of targeting the consumers those prefer use “on order transportation service” in comparison to public transport services. It is observed that such taxi services are not present in the rural areas and the services of this company (Ha, 2016).

Segmentation, Targeting and Positioning Approach

Target Market and Positioning Discussion

Differentiating consumer targeting strategy must be employed by Ingogo in order to the share of wallet consumers emerges along with enhancing wallet size through targeting. In differentiating the company’s business through using “cost-based differentiation”. The target market of the company are makes and females from the age group of 18 to 65 years from all over Australia and Sydney (Hamzah & Sutanto, 2016).

Ingogo Company must consider using benefit based along with pricing positioning strategy that can further help in targeting consumers from different geographical locations within the society. For the reason that day to day traveling makes people to experience huge cost to consumers, positioning based on the economy can facilitate in attaining great difference in the mind of the consumers (Helm & Gritsch, 2014).

Marketing Objectives and Goals

The marketing objectives that are set for Ingogo Company for attaining success through its marketing mix strategies:

  • Ingogo Company intends to increase its sales by 10% by the end of the first year.
  • Building brand awareness and increasing marjrt share of the business by 15% at the end of the first year (Hijazi, Cameron, Garingo, Jackson & Tran, 2016).
  • Launching new services or products along with targeting more than 10% of new consumers in the nation within the end of the first year
  • Improving relationships with its stakeholders along with enhancing consumer relationships by 15% within the end of the first year
  • Increasing profit through enhancing internal communications by 5% at the end of the first year.

Financial Objectives and Goals

The financial objectives that are set for Ingogo Company for attaining success through its marketing mix strategies:

  • Increasing revenue through product sales by 10%. This objective can be attained through increasing Ingogo Company’s revenues can be increased through increasing sales by raising prices of all its services (Huang & Sarigöllü, 2014).
  • Decreasing costs by 5% at the end of the year and this objective can be attained by Ingogo through decreasing utility costs, decrease waste, negotiating better contracts, decrease interest payments along with recognizing other efficiencies.
  • Increasing cash flow by 8% for Ingogo Company along with effective management of temporary shortages as well as decreasing debt obligations.
  • Enhancing debt service management of the company by 8% is another objective through attaining credit score with decreased interest rates.

Marketing Mix of Ingogo

Ingogo Company is positioned as a service provider related with logistics and technology industry that is involved with offering transport facilities (McDONALD, 2016). Proposed marketing mix strategies for Ingogo Company are explained under:

  • Product- Ingogo Company is positioned as a cab aggregator that operates its business on an operator-based model. It is positioned as technology-based company that attains existing taxies along with computers within one shed. Ingogo will focus on offering easy along with convenient options for communicating with travelers. It must consider making considerable changes within its GPS devices for safety along with tech updates and panic buttons within all its cars (McDonald & Wilson, 2016). The company must also consider merging with other taxi service offering cars in order to attain solid footing along with additional opportunities within the sector. Combined resources can facilitate Ingogo Company in providing superior products along with services to its consumers. The company will also consider taking a strategic initiative that must be held together with exceptional technology in making sure of an efficient ride (Paley, 2017).
  • Price- Ingogo Company has targeted employees which require cabs immediately along with being tech-savvy induvial to be its potential consumers. The advertising strategies of the company must focus on projecting itself as an economical, convenient along with experience service providers. Through implementing advertising strategy by means of social media and billboard can facilitate Ingogo Company in attaining competitive advantage of becoming an early mover along with implementing a reasonable pricing policy in order to attain an increased market share (Pride & Ferrell, 2016). The company must consider implementing a pricing strategy that is penetration pricing strategy. The prices must be set at affordable and reasonable rates in order to attain unique competitive advantages order its competitor companies along with considering increase in its consumer base.
  • Place- Ingogo Company has its presence all over Australia and in Sydney. The company has its business spread all across the Australian serviceable cities. Ingogo has its headquarters in within Sydney (Ryan, 2016). It must also consider maintaining a rapid business expansion supporting the fact that it has hired employees from renowned institutions and must focus on offering best possible services in all its geographical locations. Ingogo Company has maintained a powerful and widespread distribution channel which included services of more than fourteen thousand drivers along with four hundred operators in communicating with more than forty cities with help of the fleet of automobiles that encompass SUVs, Luxury cars, Sedans and Hatchbacks. It has more than 1500 employees that facilitates in smooth running of business (Stelzner, 2014).
  • Promotion- Ingogo Company is recommended to have advertising strategies that will consider having descriptive taglines or brand promotional messages such as “Your taxi have arrived and you drink we drive”. It must also focus on developing several effective marketing plans in order to increase its brand awareness within the consumer market. Ingogo Company must focus on developing advertisement campaigns through employing the social media network such as Twitter, Facebook, Instagram long with YouTube (Strauss & Frost, 2016). In addition, it must also consider advertising through encouraging word-to-mouth publicity. As an aspect of promotional strategy, Ingogo announced its revised rates that can offer it in attaining competitive edge over its business rivals.

Implementation of Proposed Marketing Plan

The implementation and control process of a marketing plan is deemed to be a process that makes sure the attainment of Ingogo company’s anticipated strategic objectives. A special role in such process has a great function of directing as well as organizing people (Urban, Gosline & Lee, 2017). Implementation and control considers the predictions of the future events associated strictly to anticipated costs along with revenue expenses in the future years. Implementation plan of the Ingogo is a process of turning plans within actions along with encompassing all the conducts that puts the company’s marketing plan into operations. Successful implementation of the marketing mix can be measured through considering its organizational structure, people along with organizational culture within a cohesive program which supports the company’s marketing plan (Westwood, 2016).

Monitoring and control can facilitate Ingogo Company in checking its difference between its actual and budget. This is vital for the reason that it can facilitate Ingogo to take vital actions in order to meet the marketing objectives (McDonald & Wilson, 2016). There are three tools that can be used by the organization:

  • Sales analysis- Success of the marjrting mix strategy can be can be measured through analyzing the total sales by market segments for recognizing strengths and weaknesses within different sales areas. Sellers of the company’s services vary from vital retail supermarkets to small corner stores (Hijazi, Cameron, Garingo, Jackson & Tran, 2016). This offers the services of the company with exposure to consumers at their convenience.
  • Market share analysis- This monitoring aspect focuses on comparing the business sales performance of Ingogo Company with all its business rivals. The company must also consider looking into increasing its market share by 60% (Hijazi, Cameron, Garingo, Jackson & Tran, 2016). Moreover, market research might also be conducted by the company in analyzing the trended of increased consumer use of its services along with analyzing the position services among its consumers (McDonald & Wilson, 2016). Based on such analysis, it can take effective decision in making considerable changes within its marketing mix strategies.

Marketing Budget Plan

Category

Estimated
Quantity

Estimated
Cost per Unit

Estimated
Subtotal

       

Research

Research firm fees

2

$2,300.00

$4,600.00

Web research

1

$1,100.00

$1,100.00

Independent research

3

$300.00

$900.00

Other research

2

$250.00

$500.00

     

Research Costs Total

$7,100.00

       

Communications

Promotional brochures

5,000

$0.15

$750.00

Television

5

$4,000.00

$20,000.00

Radio

13

$350.00

$4,550.00

Web

1

$350.00

$350.00

     

Communications Costs Total

$25,650.00

       

Networking

Memberships

3

$50.00

$150.00

Affiliations

2

$20.00

$40.00

Subscriptions

2

$32.00

$64.00

     

Networking Costs Total

$254.00

       

Event

Number of attendees

50

   

Meal (breakfast, lunch, or dinner)

     

Food

 

$23.00

$1,150.00

Tax (10%)

 

$2.30

$115.00

Food and beverage gratuity (20%)

 

$5.06

$253.00

Meal Costs Subtotal

$1,518.00

       

List Services

     

Valet services

1

$300.00

$300.00

Entertainment #1

1

$800.00

$800.00

Entertainment #2

1

$1,200.00

$1,200.00

Other services

1

$200.00

$200.00

List Service Costs Subtotal

$2,500.00

       

Audio/Visual Services

     

Basic PA system and podium

1

$0.00

$0.00

Screen

1

$0.00

$0.00

XGA data/video projector rental

1

$45.00

$45.00

Wireless mouse

1

$12.00

$12.00

Power strips

1

$0.00

$0.00

Extension cords

1

$0.00

$0.00

Lavalier microphone

1

$0.00

$0.00

Labor and AV technicians

1

$300.00

$300.00

Tax (8.8%)

 

$31.42

$31.42

Audio/Visual Services Subtotal

$388.42

       

Additional Costs

     

Invitation
(printing and postage costs)

 

$834.00

$834.00

Time & Expense (T&E)

 

$600.00

$600.00

Company staff T&E

$200.00

$200.00

Customer testimonial T&E

 

$100.00

$100.00

Additional Costs Subtotal

$1,734.00

       

Giveaways

0

 

Giveaway #1

25

$10.00

$250.00

Giveaway #2

25

$5.00

$125.00

Giveaway Subtotal

$375.00

       

Event Costs Total

$6,515.42

       

Event Price per Person

$130.31

   
       

Promotions

Product giveaways

50

$8.00

$400.00

Product discounts

300

$3.00

$900.00

Special offers

200

$2.50

$500.00

     

Promotions Costs Total

$1,800.00

       

Advertising

Brochures (development and production)

5,000

$0.15

$750.00

Mailings

15,000

$0.04

$600.00

Postcards

15,000

$0.03

$450.00

Television

2

$600.00

$1,200.00

Radio

4

$300.00

$1,200.00

Newspapers

6

$220.00

$1,320.00

Billboards

2

$556.00

$1,112.00

Bus sides

3

$125.00

$375.00

     

Advertising Costs Total

$7,007.00

       

Public Relations

Charity events

3

$200.00

$600.00

Advertising

4

$200.00

$800.00

Employee promotions

6

$200.00

$1,200.00

Sponsorships

3

$200.00

$600.00

     

Public Relations Costs Total

$3,200.00

       

ESTIMATED MARKETING GRAND TOTAL

$51,526.42

Conclusion

The objective of the paper is to analyses the segmentation, targeting and positioning approach of Ingogo Company along with setting effective marjrting and financial objectives. It will also consider developing an effective marjrting mix strategy based on which the company will be able to attain unique competitive advantages within the industry. It was gathered from the paper that Ingogo will focus on offering easy along with convenient options for communicating with travelers. It must consider making considerable changes within its GPS devices for safety along with tech updates and panic buttons within all its cars. The company must also consider merging with other taxi service offering cars in order to attain solid footing along with additional opportunities within the sector. Combined resources can facilitate Ingogo Company in providing superior products along with services to its consumers. Successful implementation of the marketing mix can be measured through considering its organizational structure, people along with organizational culture within a cohesive program which supports the company’s marketing plan.

References

Agrawal, B., & Goyal, C. K. (2018). Consumers Attitude towards Corporate social Responsibility and Cause-Related Marketing. Asian Journal of Management, 9(1), 366-372.

Armstrong, G., Kotler, P., Harker, M. & Brennan, R. (2015). Marketing: an introduction. Pearson Education.

Baraldi, E., Fraticelli, F., & PERNAab, A. (2015). The connections between B2B marketing processes and IT solutions: two case studies on the application of CRM in industrial companies. In ATINER 2nd Annual International Symposium on Business to Business Marketing: Current Developments and Future Prospects.

Charlesworth, A. (2018). Digital marketing: A practical approach. Routledge.

Chernev, A. (2018). Strategic marketing management. Cerebellum Press.

Ha, T. N. (2016). Operational Assessment Of Nha Be Garment Corporation: Basis For Sustainable Marketing Plan. Journal of Advances in Social Science and Humanities, 2(06).

Hamzah, S. B., & Sutanto, J. E. (2016). The Role of Marketing Mix (7P) for Consumer Buying Decision Pastry Cake in Malang City.

Helm, R., & Gritsch, S. (2014). Examining the influence of uncertainty on marketing mix strategy elements in emerging business to business export-markets. International Business Review, 23(2), 418-428.

Hijazi, B., Cameron, B., Garingo, C. J., Jackson, C., & Tran, S. (2016). Marketing Plan.

Huang, R., & Sarigöllü, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.

McDONALD, M. A. L. C. O. L. M. (2016). Strategic marketing planning: theory and practice. In The marketing book (pp. 108-142). Routledge.

McDonald, M., & Wilson, H. (2016). Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.

Paley, N. (2017). How to Develop a Strategic Marketing Plan: A step-by-step guide. Routledge.

Pride, W. M., & Ferrell, O. C. (2016). Foundations of marketing. Cengage Learning.

Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.

Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers.

Stelzner, M. (2014). 2014 Social Media Marketing Industry Report. Social media examiner, 1-52.

Strauss, J., & Frost, R. D. (2016). E-marketing: Instructor's Review Copy. Routledge.

Urban, G. L., Gosline, R., & Lee, J. (2017). The Power of Consumer Stories in Digital Marketing. MIT Sloan Management Review, 58(4).

Westwood, J. (2016). How to write a marketing plan. Kogan Page Publishers.

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