...SEGMENT “Lyft is all about taking cars off the road via ridesharing. This is NOT merely a cool new use of technology to efficiently onboard and route more cars, cabs, town cars and limos. Lyft wants to use technology to get everyone who currently owns a car to join a trusted information network to share rides.” – Scott Weis, 2013 Lyft current specific segments are: • Socially conscious • Environment friendly • Tech-savvy millennials • Busy city professionals • Population active at night o College towns o Large cities • Cost conscious Lyfts’ general segments are: Criteria Segment Geographic region Across all United States Density Urban, Suburban, Rural Demographic age All ages Family size All sizes Gender All genders Income All income ranges Occupation All occupations Education All educational backgrounds Race All races Generation All generations Nationality All nationalities Social class All classes Psychographic lifestyle Social-orientation Environment conscious Technology savvy Cost-conscious Benefits Social interaction Community sense Safety Convenience Environment improvement User status All; Nonuser, ex-user, potential user, first-time users, regular users Usage rate Light to medium users Loyalty status Medium Readiness stage Unawares and aware customers Attitude toward product Enthusiastic and indifferent TARGET Lyft was created to be a service for folks who want to take advantage of the empty seats in other people’s...
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...Lyft is an American transportation network company. It connects users to registered drivers who can pick them up in just a few minutes. It uses a mobile phone application that facilitates peer-to-peer ridesharing by connecting passengers to drivers. This new business model has started many controversial debates on its legality and treatment of its drivers. However it has become a very popular form of transportation because of its easy, convenient, and affordable pricing compared to traditional taxi cabs. There are many ridesharing companies out there but there are only two that stand out. Lyft and Uber are the largest ridesharing companies in U.S. Although both companies are fairly large, Uber is more widely known and has a very strong and dominant competitive position over Lyft. There are many ways in which Lyft can incorporate the six principles of persuasion in order to improve their competitive position. Reciprocation The first principle is Reciprocation. This principle states that people feel indebted to those who do something for them or give a gift. Lyft is already applying this principle by giving new customers a $50 credit on their first ride, but they can further implement this principle. Lyft can give existing customers an incentive to continue using their services. There can be a program created that is similar to the ones airliners use reward customers based on loyalty and miles traveled. Customers can earn points by miles that they accumulate using a Lyft and...
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...Lyft is the private transportation network company (TNC) and located at San Francisco, CA. It is founded by Logan Green and John Zimmer (Wikipedia). It was originally called Zimride Inc. and launched in 2007 with keeping only college students as target market. Initially they were using Facebook profile information via Facebook Connect, to locate drivers and riders where driver would post where and when details of the trip and then passenger would apply for a ride. It took years for the company to show solid growth but was really successful on small scale. But with the launch of the Uber in 2009, they also expanded their target market from college students to others by renaming their company to Lyft Inc. in 2012 and came up with ridesharing application on the mobile (Carlson, 2013). It was a start-up company which was funded by Andreedsen Horowitz and many others. It provide peer-to-peer ridesharing by connecting drivers who are available at that time with the passengers who need a ride. When the ride ends the passenger can scale the driver on five star scale and the payment would be deducted directly through application (Wikipedia). The company also provides other facilities like Line, Lyftplus. According to the Lyftplus is used when there are more than four passengers and maximum upto six passengers. Lyft Line service is where it will share the ride with others going the same way and pay would be less than 60% of normal Lyft ride (Lyft Inc, 2012). The company has showed...
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...Lin Chih-Yu Table of content 1. Executive summary p. 3 2. General company description p. 5 3. Product and services p. 6 4. Gbuddy procedure description p. 8 5. Market research p. 9 6. Customers p. 10 7. Marketing p. 13 8. Competitor analysis p. 16 9. Positioning p. 19 10. Marketing mix configuration p. 21 * Service strategy p. 21 * Promotional strategy p. 21 * Pricing strategy p. 23 11. Economics p. 24 * Income statements p. 28 12. Legal conditions p. 33 13. General user information p. 34 * Administration fee p. 34 * Cancellation fee p. 34 * Payments and legal conditions p. 34 * Insurance p. 35 * Eligibility p. 35 * Information stored through the platform p. 35 14. Attachments p. 36 Executive Summary Gbuddy was established in December 2013 by Borjan Duhonj who was an international student at UC Berkeley at the time. As a student on a shoestring budget, Duhonj rented a few miles away from campus. Venturing throughout the Bay Area, Duhonj became acquainted with a new mode of transportation, ridesharing, and thus Gbuddy was born. In 2012 a rideshare focused company named Lyft was established in the San Francisco Bay Area. As this is a new market for Norwegian constituents...
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...Mobile application based company, Uber allows users to connect with drivers for hire and ridesharing services in their area. Uber now operates in dozens of cities around the world and is currently pursuing the Nashville market. Their business model enables them to have much more flexibility and options compared to taxis and general public transportation. As they continue to grow, they’ll need to consider the costs associated with legal and regulatory fees of each new market they enter and factor accordingly. By structuring their fare on a per-distance basis over 11MPH/per-minute under 11MPH, they’re able to charge a premium and remain competitive with modern features and comfort. The application, choice of car, GPS driver tracking and ride sharing enable Uber to offer a modern, innovative take on metro transportation. Taxi companies are obviously opposed to the competition and are demanding that Uber and similar companies like Lyft and SideCar undergo the same regulations and annual inspections that they have to. Those costs vary and will typically need to be considered on a per market basis. Uber’s ride sharing offering has been well received by many large cities and commuters as it enables users to quickly find open carpools and split fares between other passengers. Being primarily web based allows for lower overhead and an overall smaller footprint. They have also launched several other programs in addition to their signature, luxury “Black” car service for mid-range and...
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...Invention and innovation are often treated as synonyms in conversation, which is simply not the case. Though they are similar in meaning, there are nuances that are lost if the wrong word is used. Dictionary.com defines invention as “a new, useful process, machine, improvement, etc., that did not exist previously and that is recognized as the product of some unique intuition or genius, as distinguished from ordinary mechanical skill or craftsmanship.” Innovation, on the other hand, is an improvement upon or makes an important contribution to a device or process already in existence. That is the important difference between the two—invention creates a whole new object or process while innovation makes that object or process better. Some companies call themselves leaders in innovation because they own many patents. A patent is “the exclusive right granted by a government to an inventor to manufacture, use, or sell an invention for a certain number of years,” according to Dictionary.com. Although they do research to determine whether it is legal for the applicant to hold the patent, the US Patent Office does not test any invention to determine if it is actually useful. Thousands of patents are on file for useless devices or processes that have helped precisely no-one and made no impact on any industry. If a patent is useless, it may be an invention, but it most certainly is not an innovation. One example of outstanding innovation often given is the MacBook Air because it was lighter...
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...Performance management framework for Landslides Limousines In a world of competitions, mergers and acquisitions, one constant fact remains; the quality of workforce as a major determining factor in a company’s success. Indeed, global competition has forced many companies to review their employee retention policies and strategies. In fact, talent acquisition and development have led to many business expansion while newly created companies are looking for the best model of talent retention. Our proposal to support Bradley Stonefield new business of Limousines services will be centered on diverse aspects of employee performance management. Mr. Bradley, many companies fail to align their business strategy with their workforce strategy but our recommendation will avoid this pitfall. Let us revisit the key business strategies of Stonefield Limousines Company. First, your exclusive use of a fleet of Hybrid and electric cars is a testament to your desire to have less impact on the environment and save the earth for future generations. Second, the use of technology as a way to secure rides helps Stonefield Limousines stay competitive in a market dominated by powerful ridesharing applications like Uber and Lyft. Third, the use of metrics to grade every single ride is a strategy at the heart of your customer service approach because the more data your business can generate, the stronger your business analysis capabilities. In addition according to the US census data (2013) website...
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...West Coast Forum Research Work Group Sustainable Consumption & the Sharing Economy Summary of Research Findings and Gap Analysis Topic: How state and local governments are promoting sustainable consumption and engagement in the sharing economy RESEARCH QUESTION(S) • What is the state of knowledge about sustainable consumption? How is this defined or framed? What are the emerging trends? What potential roles can municipal and state governments play? • What barriers have been identified and how might these be overcome? • What strategies, techniques and policies are effective at promoting sustainable consumption through reusing, renting, repairing, and sharing products and materials? • What GHG reduction benefits can be achieved through these activities? • What strategies, techniques, policies and innovative approaches have not yet been tried but have been proposed that are considered to have greatest potential? Note: This research summary builds on the findings of a previous literature review “Changing Consumer Behavior” presented at the 2012 annual Forum meeting. Many of the issues and key findings related to sustainable consumption are addressed there. Sustainable consumption is a rich and nuanced topic for which extensive literature exists. While not the primary focus of this review, the concepts around sustainable consumption provide a context for exploring specific activities of individual consumers such as renting...
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...Public Policy Concerns with the Ride Sharing Industry in British Columbia Introduction The commercial ride sharing industry is presently headline news in the province of British Columbia, particularly in the city of Vancouver where the company, Uber, has been trying forcefully to tap into the city’s passenger transportation market. “Commercial ride sharing is an arrangement where for profit, taxi-like services are provided by private drivers, using technology like smartphone apps. GPS is used to connect drivers with people seeking transportation, and payment is made online” (TranBC, 2014). Uber is an App based company that networks passengers with drivers that transport them to their destination for a fee. UberX is Uber’s low cost option in which the company’s only requirements for drivers are to be over the age of 21, have a valid driver’s license, personal auto insurance, and a four door automobile which has had a vehicle inspection within the first 30 days of partnership with Uber (Elliott, J., 2014). The drivers also need to have a police background check done, and that’s it. These bare bone prerequisites have lead UberX to be scrutinized by the provincial and municipal governments, as well as the taxi industry. The scrutiny comes from Uber refusing to abide by the rules and regulations set out by the Passenger Transportation Board and the Insurance Corporation of British Columbia (ICBC), as they say the Passenger Transportation Act is archaic, and does not...
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...2015 MGMT 5260 – Final Project Project Report Ha Luu Nguyen 213651096 Nidhi Joshi 213678271 Nomita Chennamraju 213862529 Raghvendra Bagla 213678560 Srini Venkatachalam 213678453 MGMT 5260 – Final Project Contents EXECUTIVE SUMMARY ................................................................................................... Error! Bookmark not defined. APPENDIX – 1 – BUSINESS MODEL OF UBER ................................................................................................................ 6 Purpose and scope.................................................................................................................................................... 6 Methodology and sources of information ................................................................................................................ 6 Highlights of findings and implications for value creation. ...................................................................................... 6 APPENDIX – 2 – VALUE CREATION CYCLE OF UBER ...................................................................................................... 7 Purpose and scope.................................................................................................................................................... 7 Methodology and sources of information ................................................................................................................ 7 ...
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...UBER In the last few years technology has drastically changed the way some industries do business. The newest company changing the essential nature of their industry is Uber. Uber’s company mission confirms this ambition. They want, “to evolve the way the world moves by seamlessly connecting riders to drivers through their apps”. Uber’s aim is to make cities more accessible, open up more possibilities for riders, and provide more business for drivers. This desire to change the nature of the ride for hire business has challenged the regulatory framework of the taxi industry and has caused a substantial amount of controversy for the company. This controversy hasn’t harmed the company’s bottom line. In fact, Uber is so loved by its users that it has grown to a billion dollar company on word of mouth alone. As Uber launches into each new market, these controversies are played out in the court of public opinion, and the power of Uber supporters and the quality of the experience, create a large amount of defense for the company from the local community. This support has changed laws, helped make easy transitions for Uber in new cities, and through local and national media has reached even more potential customers who would use an innovative new company reinventing a transportation experience that is nearly universally disliked by people everywhere. Uber has been an outstanding innovator who is experiencing great growth and success. This unique ability leads to the question, what...
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...CHAPTER 1 INTRODUCTION 1.1 INTRODUCTION Customer loyalty is both an attitudinal and behavioral tendency to favor one brand over all others, whether due to satisfaction with the product or service, its convenience or performance, or simply familiarity and comfort with the brand. Customer loyalty encourages consumers to shop more consistently, spend a greater share of wallet, and feel positive about a shopping experience, helping attract consumers to familiar brands in the face of a competitive environment. Types of Loyalty To understand customer loyalty one must recognize there are different types and degrees of loyalty. There is monogamous loyalty and there is polygamous. There are also behavioral and attitudinal aspects. A look at these concepts will clarify what “customer loyalty” really is, and this is important because having a solid understanding of the concept is critical if one hopes to design a reward program where loyalty enhancement is the primary objective. Monogamous vs. Polygamous Loyalty We live in a world of polygamous, not monogamous loyalty. For example, a person might shop at Safeway, Thrifty Foods and Save-on-Foods and unfailingly shop at all three. The person is then loyal to them, but not to others, and yet 100% loyal to none. In their book Loyalty Myths, Keiningham et al. (2005) suggest that “loyalty can in part be thought of as the probability a customer will purchase a brand on any particular purchase occasion. For example, a customer...
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...Geico: Successful Marketing Case Study Miranda Furstoss MBA-FP6012 – Integrated Global Marketing Assessment 5 June 29, 2015 Geico: Successful Marketing Case Study Abstract Geico is an insurance company who writes multiple lines of insurance, yet focuses on the auto insurance segment of the industry. They excel in marketing to their target audience which is what makes them an excellent organization for a marketing case study. Their marketing efforts propeled them from the small direct-marketing company they began as to one of the leading auto premium writers in the United States today. By reviewing the marketing system and efforts of Geico, it is easily seen how the right marketing tools and strategies in place can prove successful for any organization. Company Overview Geico is an insurance company founded by Leo Goodwin in 1936 that began as a carrier for the select market of military and government personnel, but later expanded to offer services to everyone (Geico, n.d.a). Goodwin had a vision to create a successful auto insurance business by targeting such a specific group, and he certainly succeeded. Since ending their first year with 3,700 auto policies, they now have more than 13 million policies in force and are still going strong (Geico, n.d.a). In fact, the growth from its meager beginning to now has risen it to the second position of persinal auto insurers in the United States, a nice position in such a competitive market (Das, 2014). They are well-known...
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...Sharing corps: Should company build competitive advantage by embracing the sharing economy? SHARING CORPS SHOULD COMPANIES build a new competitive advantage BY embracing the SHARING ECONOMY? ECOVALA - December 2013 1 Sharing corps: Should company build competitive advantage by embracing the sharing economy? Ecovala © 2013 This report was produced by the Ecovala in December 2013. If no other source is specified, the contents of this report are under a Creative Commons Attribution – Non-Commercial - Share Alike 3.0 Unported License. You can find the full text of the license in this website. Ecovala Ecovala provides innovative solutions to private and public organisations to accelerate their transition towards sustainability. The organisation offers a wide range of services around sustainability and system innovation: from companies’ environmental assessment to sustainable strategic design, from new green services definition to effective implementation of CSR management. Based in Finland, the organisation is active throughout Europe, relying on an extensive network of like-minded organisations and sustainability experts. www.ecovala.eu Author Erwan Mouazan is director and founder of Ecovala. He develops and implements innovative sustainability solutions both at private and public level. Erwan owns a Master's degree in economics, with a specialization in international management. In the last 9 years, he has worked at international level in environmental...
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...CareBridge, LLP Contents Executive Summary ...................................................................................................................................................................... 5 Business Concept ........................................................................................................................................................................... 6 Our Product .................................................................................................................................................................................. 6 Target Market and Market Size .......................................................................................................................................... 8 Funding Requirements and Strategies ........................................................................................................................... 9 Mission Statement .................................................................................................................................................................... 9 Executive Team .......................................................................................................................................................................... 9 Product Introduction............................................................................................................................................................... 9 Prequalification...
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