Uber, formerly known as Uber Cab has become the face of the taxicab industry in over 60 countries. This company has achieved groundbreaking success with its unique marketing strategies.
In this case study, we will be discussing about the Company and 4Ps of the Marketing Mix of Uber.
Before getting into the main segment, let’s just have a quick overview of the company.
Uber is a Private Limited company that allows booking various transportation facilities online in its site or mobile app that works internationally.
It was founded in 2009 by Travis Kalanick and Garret Camp and launched in 2010. The headquarters is in San Francisco, California and It has a huge number of users over 100 million with a $ 76 billion turnover.
The company came to India in 2013 to fill the space of comfortable and better transportation facilities and has done over 17 billion trips globally with the different ride options and different facilities to its users.
Now let see the Marketing Mix elements that Uber uses to make good growth globally.
Marketing Mix of Uber
Marketing Mix is helpful for any business company to promote its brands with the right action or tactics of the marketing mix.
The 4Ps of marketing mix strategy that will help to achieve success by promoting brands are Pricing, Product, Promotion, and Place. Let’s understand one by one in the coming section.
Every company goes through the 4Ps of the marketing mix to become successful and it also helps to survive in the market. Let’s see what are the marketing mix of Uber in detail.
1. Price Strategy of Uber
The price of the product is favourable to the targeted audience set by brands. By this, the company sells its products more as the price is good for consumers and brands also need to give seasonal discounts, affordable prices from their competitors, and must consider supply costs.
Due to the bad startup of the year 2020 due to covid, Many businesses face a loss as Uber. But Uber always uses penetration pricing to make every customer happy and always pays attention to giving its consumers the best rides possible to gain trust and attention.
Whether the ride is for 1 hour or is for long trips, the taxi company gives all the features from comfortable air-conditioned rides to the high-speed possible internet. It also provides the most comfortable rides at the cheapest price possible and people are really happy with the pricing charged by Uber and enjoy the rides the most.
The pricing is quite a favourable colour and any consumer can afford it and go wherever they want with the comforts and safety provided by the brand. Now let’s take a look at the unique features of Uber’s products.
2. Product Strategy of Uber
The product should be of good quality and the services the company provides are to be pinpoint. There is no compromise in the quality of the product or the result will be unfavourable and the brands are going to have a hard time surviving in the market.
The brand is the one where people can request a ride and the nearest Uber driver will pick up the customers in the fastest time possible and move them to their destination in safety because the company hires and pays only the safest and licensed drivers.
It provides different rides worldwide, such as:
- Uber Pool
- Uber Comfort
- Uber Green
- Uber Black
- Bikes & Scooters
- Uber Transit
- Uber WAV
- Uber Lux
- Uber Black Suv
- Uber Taxi
- Uber Flash
- Uber Auto.
If people want to eat something – Ubereats helps its customers to fill in their belly with just simple taps on its websites or app of people’s tastes from any restaurant and delivers food in no time with simple and small delivery fees.
Uber Freight helps consumers to transport their things and gives suggestions of customizable loading, quickie pays and gives them automatic reloads options. Customers can enjoy all the facilities of Uber in only one single app.
These are the product portfolios introduced by Uber. Now let’s gander the information about the promotion strategy of Uber.
3. Promotion Strategy of Uber
Promotion by brands refers to genuine communication through ads or ads campaigns, and there should not be any misleading information about the product. Recommending the right products according to the needs of customers and remembering the needs of the targeted audience is a must.
Uber has done many things to promote the brand to grab the attention of the customer through referral and convincing strategy by giving free rides, coupon codes to existing users to get discounts up to 25% on Uber trips.
At the start, giving a free ride is kind of a loss for the company and it suffered a hard time there but the brand worked smart enough to jump high and it happened too.
Promoting free rides worked very well and gave customers an idea of how comfortable a ride is, and people recommended Uber rides more in their locality and shared their experiences.
Uber advertisements are very simple and easy as it provided free rides and distributes things at festivals like the colour on holi, cake on Diwali, paper kite on Makar Sankranti, etc.
Now that we come to know about the promotion strategies of Uber, let’s see how the company deals with the distribution strategy.
4. Place and Distribution Strategy of Uber
Place & Distribution in the marketing mix is the process of moving goods & services from the producers to the consumer at the right place and at the right time. The movement of goods and services is done by distributors, wholesalers, and retailers.
Uber is growing day by day and provides its services across the world in over 40 countries and 700 plus cities. The company distributes its services at no time through its websites and the mobile apps that are available both on Android & IOS.
Customers can enjoy the rides and meals at any place by just tapping the rides of their comforts and the tastes of their restaurants. If the audience of Uber needs any help from the company, people can just contact on websites or the helpdesk which is also available at the Airports, and Malls. Uber services are available at any possible place as it covers 40 plus countries and many cities.
Above you read were the 4 elements of the marketing mix and you must have come to know that how important this is to marketers to be in the business. Let’s conclude the case study shortly.
Uber has a highly unique marketing strategy for building a devoted user base. Free rides, discounted rides, and referral benefits are just a few of the ways the company entices clients. The high-quality riding experience encourages individuals to want to do it more and more, which leads to a habit and income for the company.
Uber has spent a lot of money on marketing and has given away thousands of free trips all around the world to get consumers addicted to the new mode of transportation. Additionally, one of the main advantages of Uber is the pricing benefit, which allows the company to sell itself.
If you’re interested in learning more about digital marketing, check out Karan Shah’s Digital Marketing Basics Masterclasses. Thank you for taking the time to read this; please leave your ideas in the comments section.