Answer To: Aim: This assessment aims to develop your understanding, integration and application of material...
Parul answered on Oct 10 2021
Uber’s Marketing Strategy
Uber’s Marketing Strategy
Assignment
Executive Summary
The ordinary taxi transportation and traditional business of transportation was disrupted by the establishment of 2010. With this disruption came new business model popularly referred as sharing economy (Blodget, H., 2015). Uber has established an online marketplace that offers prompt, convenient and economical ride-sharing. Essentially the company has a unique public offering that connects passengers in need of car with drivers who can offer the service for money with the help of mobile application platform which is Uber. By the virtue of this report, I have performed extensive analysis on the organisation, it's marketing strategies, business environment in which Uber operates in as well as various sustainable issues associated with the growth of the market. It will deeply evaluate every aspect of organisation's car-sharing business that is primary while touch upon other secondary sources of revenue like Uber eats etc. Present CEO of the organisation, Dara Khosrowshahi, in his interview explained three major parameters which has contributed to the massive growth of the business global penetration of smartphones, invention of application and software on the phones and lastly, people's desire to invest less and receive full benefits (Boekel, M., Sprunger, B., Smith, K., & Work, E., 2012). Uber has been successful by leveraging on-demand work model and presently investing in self-driving technology and urban air transport such that it can assist people in hospitality and healthcare industries in order to make transportation seamless.
Contents
Executive Summary 1
1.0 Company Background 3
2.0 Uber’s Framework of Sharing Economy 4
3.0 Market Analysis 4
4.0 Essence of Marketing Mix - 4P's Matrix 5
5.0 Concerns & Problems with Uber 7
6.0 Economic, environmental and Social Aspect 8
7.0 Recommendation 9
8.0 References 10
1.0 Company Background
Uber is the organisation that provides ease of transportation, vehicles for hire, delivery of food, delivery of package, couriers, freight as well as partnership with electric bicycles, lime and other motorized scooter for rental services. In 2009, Uber was founded by Garrett Camp and Travis Kalanick in San Francisco and within a decade the organisation has expanded its operations to over 900 metro area all across the globe.
Uber is well known for the applying the concept of gig economy and one of the pioneers in the development of autonomous vehicles and self-driving cars. There are more than 110 million monthly active users all across the world that avail the service of Uber. The organisation commands more than 67% of market share in the business of ride-sharing and 25% of market share for the food delivery (Boekel, M., Sprunger, B., Smith, K., & Work, E., 2012). The organisation has been a market leader and commands the market. In fact, Uber has been one of the most eminent in sharing economy and disrupted the industries and the phenomenon is popularly called as uberisation and many organisations have tried to associate their products with Uber to exemplify the agility, for instance Uber for X. Organisation is a dominant player in USA, with hold of 70% market share as well as it is second largest player in Brazil with 17 million users as effective on November, 2019. In Europe, Uber dominates the London geography with more than 3.5 million users and has a record of doing more than 5 million weekly rides in the country (Blodget, H., 2015).
2.0 Uber’s Framework of Sharing Economy
Consumers cherishes the rent of taxi offered by Uber which is far cheaper than owing and maintaining a car. The underlying concept of sharing economy coincides with people who desire to share their assets instead of bearing the entire expense on themselves (Donovan, R., & Henley, N., 2010). For instance, people of this generation perceive value in sharing a drill which they would consume only for few minutes rather than investing in a power drill that is used only once. Indeed, Uber is one most swiftly growing start-up all across the globe however, its rise has resulted in massive demonstrations of taxi drivers. There are many sustainable issues with Uber and its business model of sharing economy. One of the major issues that is a result of Uber's business is the disruption of traditional taxi...