Analysing the marketing strategy of the competitors has always been a tact of the businesses. And if you are pursuing a marketing course, then you willget assignments where you need to analyse the marketing strategy of either a new player to sustain your old product or analyse the marketing strategy of an old player to launch your new product.
Whatever be the case, the importance of marketing analysis is never unseen in the close competitiveness of the 21stcentury. That is why marketing students get assignments which aim to develop this skill in them.
What do you need to do?
For the ease of understanding, I am going to take an example. So, any students in the house looking for MKT5MMA assessment 2 answers, today is your lucky day.
Now, the assignment that I received was about the marketing strategy analysis of Uber, where the following things needed to be done in a report -
- You should prepare recommendations for a marketing strategy for an old service company to counter the successful introduction of Uber to a particular market.
- Your review needs to be undertaken from the perspective of the company producing the ‘old’ service (a close competitor of Uber) and the analysis of what has made Uber successful and plans for how to react to this new product entry to their market.
I hope that the above two points are clear and gave you an idea of what this reports needs to do, right?
Yet, for those of you who want a simpler explanation, this report will analyse Uber. Okay? Then, you have to identify a close competition of Uber. Your company is old and Uber is new. You have to propose a marketing strategy to counter Uber.
How to do it? You have to imagine yourself as the old company. You have to see what made Uber successful and how should you plan to react to this new product.
How would I do it?
I chose a company called Savaari Car Rentals Private Limited which is an old service launched prior to Uber in Mumbai. First things first. I begin by writing the introduction.
Beginning with what Savaari Car Rentals is and what services does it offers, I described the size of the market of Savaari. The next thing on the list is to see the growth of the taxi industry in Mumbai and what role did Savaari play in the sector.
Since my chosen sector is a taxi service, I also have to discuss the major taxi companies, their share in the market revenue, and who are Savaari’s competitors.
Through a SLEPT analysis, I identified the macro-environmental forces that were impacting Savaari Car Rentals. Using the information of the analysis, I prepared a SWOT analysis of Savaari Car Rentals. The SWOT analysis gave me an opportunity to see what external environment forces allow me to develop Savaari’s product.
Analysis of Uber
Since this assignment is focused on Uber, there is no way you are getting away without conducting an analysis of the marketing strategy of Uber.
And not just Uber, whatever assignment you get like this, the following points will be taken into account while preparing the marketing analysis.
- I talked about the mission of the company where I discussed the key goals of the company (Uber), the relationship it has with the customers and stakeholders, how they approach a partnership, their approach to change in external trends and how they aim to add value to the customers.
The same analysis will be done for the chosen company.
- Take a dig into the resources of the company. Here, I discussed the human resource tools for Uber that are there along with any unique skills that employees should have, to make the business successful. Then I also took a hit in the financial segment, the approach to data collection, the delivery system, and more.
- Discussing the services of Uber and Savaari Car Rentals, I move on to the customer segment of the report. Now, I talk about the customers of both the companies where factors like psychological variables, social variables, geo-demographic variables, and lifestyle are considered.
- After discussing in detail about the customers, this report will also discuss the competitiveness of both the brands. Here, we will talk about the products similar to the competition, a perceptual map of customers, Porters Five Forces, competitors, the market share, etc.
I am sorry people but I am running late for another class and that is all that I can tell you about this assignment right now.
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