The paper "Segmentation Positioning and Target Markets" is a great example of a Marketing Term Paper. This report is aimed at improving the market position of Uber-Company in the market. The objectives of improving the market position of Uber are provided in the report. The various objectives that can help the company achieved an increase in its market position despite the competition are explored. The relevance of the objectives set is evaluated using the SMART analysis to ensure that the objectives are in line with the issues that are facing the company.
Uber has been competing well in the market, but there is an increase in the level of competition due to the many market players that are entering the industry. This report helps in looking for the best solution that can help Uber maintain its market share despite the increase in the innovative firms in the industry. The report also explores the marketing mix of Uber using the 7Ps to assess the market position of the company. The product, promotion, price, place, people, physical evidence, process, and people are the 7Ps elements that are explored to how they can help in achieving the set objectives. The major issue facing Uber is to maintain its market share.
This is because the competitors are developing a very innovative product that is becoming competitive in the market. The products of the rivals in the market are direct substitutes of Uber products hence the need to come up with the most appropriate strategy that can help in maintaining its market share (Isaac, 2014). Therefore, coming up with the strategies that can assist in retaining the customers of Uber can be important in maintaining the company market share.
The fact that the competitors are continuously developing innovative products is a threat to the market position of Uber hence the need for immediate action to ensure the customers are retained. Marketing objectives The increasing number of competitors who are offering similar products with those of Uber poses a threat to the market position of Uber. As a result, there is a need to come up with the most appropriate solution that can help Uber maintain its market share in the industry.
The objective is to make Uber competitive and unique in the market to help in maintaining its market share despite the increase in the number of competitors entering the market. This can include identifying reasons for the decline in the market share to suggest the possible solutions that can help Uber in retaining its market position. The major marketing objectives that can help in improving the market position of the company include improving the competitiveness of the company products and making the products unique (Bilton, 2012). The first objective which is improving the competitiveness of the company products can be crucial in retaining the company market share as Uber will be in a better position to retain its customers despite the increase in the competitors.
The competitive level can be improved by adopting strategies that can compete better in the industry like adopting a competitive pricing strategy and engaging customers in the product development process. The second objective which is making the company products unique in the market can assist in eliminating the increased possibilities of substitution.
This can be possible through developing new and innovative product features that are not in the products of the competitors.
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Isaac, E. (2014). Disruptive Innovation: Risk-Shifting and Precarity in the Age of Uber. Berkeley Roundtable on the International Economy BRIE Working Paper, 7.
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