This report consists of a thorough introduction about the company and the products and services provided by the company. This report will include the latest marketing effort done by the company. Moreover, this report also highlights the PESTEL analysis to understand the external factors which can either be an opportunity or a threat. This report also highlights the Marketing mix followed by the company to achieve the objectives and goals of the marketing plan.
Uber was launched in San Francisco, California on March 2019.
Uber is a suitable, budget friendly and safe taxi service. This is mainly how Uber works. Riders have to hire a private driver to pick you up and take you to the destination you prefer with a tap of a button on your smartphone.
Through this smartphone application you can even watch as your driver is on-route to come pick you up. As for the drivers, Uber provides an exceptional pay, this even includes tips.
Uber now operates in more than 78+ countries and is currently valued at over $82 billion.
The mission of Uber is “To connect people who need a reliable ride with people looking to earn money driving their car”.
Furthermore, social media has been the backbone of many marketing strategies. Here, for Uber their main marketing strategy is Social media. It uses its app to make the most of the networking.
Uber has been able to achieve a lot through social media. First step of Uber was Facebook, they have more than 22+ million followers.
Uber’s Facebook account is used as a broadcasting account to update clients of all the latest deals and offers. Uber spreads its deals, discounts and new rides and riding arrangements through this account. Uber also uses this account to address the customer complaints.
Here, there are customer representatives at Uber who look into the issues posted via Facebook and respond to them by providing explanations and guidance. This shows how social media can be used to address customer complaints and manage customer relationships better. This proves that one of the most important marketing strategies for Uber is through social media.
The Macro Environment is known as the external environment factors influencing the success of a business, it’s strategies and decision making. Here, we look into the PESTEL Analysis normally used in the business to find out the opportunities and threats. PESTEL stands for Political, Economic, Social, Technological, Environmental and Legal Factors.
Referring to the company Uber, this is how the analysis was carried out for these six factors.
Political Factors: Politics may affect a company due to some certain policies and restrictions such as, labor policies, tax policies and trade restrictions. The political stability in a country determines how well a company performs.
Stating Uber, it is important to make the stand clear about the driver’s insurance. So, one of the main things that can be a major disadvantage for Uber is that the company’s regulations are not clear. Customers raise questions about their insurance policy. This can be known as a threat to the company’s marketing effort.
Economic Factors: Uber uses sharing of physical and intellectual resources to operate in the economy. Customers can easily connect with the driver through the app. Drivers can take them to their desired location. Customers find Uber cheaper than taxis. Uber has seen fast growth since its inception.
However, some countries see unfair competition against regular taxis. It resulted in ban and restriction of its services. People are also looking towards Uber to get new job opportunities. The specialty that favors Uber is its popularity and the countless opportunities. This can be a huge opportunity to the company’s marketing effort.
Social Factor: Uber taxis are easily accessible. An Uber ride can be booked within seconds just with a click of a button through the mobile app. Within a few minutes the ride is confirmed. Uber’s customers are happy for the affordable price they offer. This can be an opportunity to the company’s marketing effort.
Technological Factor: Uber has gained many benefits through technology, both directly and indirectly. People post their positive views on social media platforms which has played a major role in the company growing so rapidly. Uber’s customers can book their cabs from anywhere.
Moreover, the app gives information such as estimate ride charges, drop off location, traffic, and weather and they can pay their charges through the app as this can be cashless ride. This can be an opportunity to the company’s marketing effort.
Legal Factor: Uber has faced bans in many countries for different reasons such as countries seeing Uber as an unfair competition against regular taxis. So, the company needs to follow technical usage laws, labor and employee safety laws. This can be known as a threat to the company’s marketing effort.
Environmental Factor: The impact of Uber on the environment is not verified yet. People say fuel usage and traffic jams are increasing. Studies say the same when it comes to traffic congestion. However, analysts are yet to confirm such blame. Not being certain to this factor can be a threat as well.
Uber is the fastest growing taxi service, and provider. Its affordable charges, ease of use have made it popular. Some arguments are also delaying its progress of growth as of the moment.
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