Marketing Strategy consists in directing a proper marketing mix towards a target group of customers or market segment. Let us now consider what we mean by Market Segmentation with an example.
- Tap the app, get a ride: Uber is the smartest way to get around. One tap and a car comes directly to you. Your driver knows exactly where to go. And you can pay with either cash or card.
- Low-cost to luxury: You can always request everyday cars at everyday prices. But sometimes you need a bit more space. Or you want to go big on style. With Uber, the choice is yours.
- Ready anywhere, anytime: Daily commute. Errand across town. Early morning flight. Late night drinks. Wherever you’re headed, count on Uber for a ride—no reservations needed.
- For the good of all: A city with Uber has more economic opportunities for residents, fewer drunk drivers on the streets, and better access to transportation for those without it.
- Behind the Wheel: They’re people like you, going your way
Now, Let us put together above user characteristics. This gives us below picture. There are many segments (1, 2,3,4,5,6,7, 1 &2, 2&3 etc..), Uber can focus. In my opinion, Uber is focussing on the segment 5 currently. This is called defining bull's eye.
In marketing, we would like to define the bull's eye very carefully so that there is no scattering or wastage in our marketing effort. This is known as Market segmentation
1. First P:: Product Planning:
2. Second P:: Promotion:
Promotion is the aspect of selling and advertising, or communicating the benefits of the product or service, to the target customers or the market segment involved in order to persuade them to purchase such products or services.
Above approaches are further elaborated at the post Uber's uber cool marketing strategies in India
Promotion is the aspect of selling and advertising, or communicating the benefits of the product or service, to the target customers or the market segment involved in order to persuade them to purchase such products or services.
Above approaches are further elaborated at the post Uber's uber cool marketing strategies in India
3. Third P:: Place or Physical Distribution:
Aspect of the channels of distribution through which the product has to move before it reaches the consumer.
Aspect of the channels of distribution through which the product has to move before it reaches the consumer.
4. Fourth P:: Pricing
Price refers to the money value that the customer has to pay. The product has to be adequately priced. This involves considerations of the profit margin, the cost, the possibility of sales at different prices and the concept of the right price.
Marketing Strategy - Summary:
In all of this, we have not seen Uber using any mass marketing methods like TV, Print, OOH or Radio. Forget ATL, not even any promoted post and tweets on Facebook & Twitter.
Their primary means of communication with the consumer still remains SMS and Email which seem to be working fine for the time being.
Uber has invested a lot on their blog to document their efforts
They are truly moving from 4Ps of Marketing to 3Cs. Consistent, Contextual and Capability.