1 / 7 U B E R Study of Management MGMT 241: Elizabeth Stoeckel Mariam Farooque Michael D’Esposito Due: 5/3/17 2 / 7 Research Methods: Body: (a) Love it or hate it, Uber has been revolutionary in the subject of transportation companies. In recent years, people have been looking for more and more ways to decrease daily social interactions, and Uber delivered. Uber is a company that allows you to hail a driver without having to make a phone call. Instead you use an app on your phone. This travel service is popular with a lot of people, especially in bigger cites, because it allows you to see your driver’s rating, and how far away they are from you. Uber’s mission statement is “Make transportation as reliable as running water, …show more content…
Through marketing a business draws customer’s interest to their goods and services, the more interest customers have, the more potential a company has of increasing its revenue. Though, marketing involves strategic planning in order to be successful. The most important component of marketing is the research behind it. This research involves identifying: consumer’s buying habits in the industry, the market size, the markets growth or decline, and current or old trends. When researching, the target audience must be prioritized since they will most likely be the most prominent buyers. The target market must also be positioned in a way that is flexible to different types of consumers and may appeal to unlikely consumers. Marketing also involves being aware of competitors and working to make your product seem unique and stand out from similar services in the industry. By creating an effective market strategy, a company can move onto creating sales and outreach goals. The strategy will allow companies to decide on which tactics will benefit them the most, these tactics can include: events, direct mail, emails, social media, partnerships, and other ways to attract customers. Then, the company must decide the content and portrayal of what they will expose to their audience while maintaining it within the budget they have set aside specified for marketing. While maintaining their budget, markets must establish a system where they are receiving a return on their marketing investments and should track their success or failure through the course of periods and evaluate the results. If the results indicate that their tactics were successful, they should repeat it and continue to use, while still building upon and it and improving it. If failure arises, then the company will know that they should discontinue their tactic and begin searching for a new and more effective