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A brand analysis of mytaxi. What could a repositioning strategy include?
Vanessa Busch
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Sozialwissenschaften, Recht, Wirtschaft / Management
Beschreibung
Seminar paper from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,4, Griffith College Dublin, language: English, abstract: This report provides an analysis and evaluation of the current brand strategy of mytaxi in Ireland. To fully understand and value the strategy, the current situation and future of the customers and competitors must be examined. The customer analysis takes a closer look at the amount of travellers, the population in Ireland and the current number of taxi licenses and their development over the years. It also considers future trends and progresses. In addition, the self-analysis of mytaxi takes a further look on mytaxis’ start in Ireland, the development over time, the reputation and what is going to happen in the future. A SWOT analysis was used to give a compact overview of the current situation of the company. Finally, the two main competitors, Uber and Lynk, were analysed and compared to mytaxi. The Gartner Magic Quadrant was used to reflect the finding towards the three companies. Results show that the population of Ireland increases as well as the amount of travellers but the number of taxi driver licenses decreases. Furthermore, it shows that mytaxi is the only company performing well compared to its competitors. However, mytaxi has a bad reputation in Ireland. There is a lack of trust in the company from the customers, passengers and drivers. The report finds that the current brand strategy does not reach the target groups effectively. Recommendations include providing a more emotional position of the brand to reduce the lack of trust. Furthermore, the brand loyalty can be increased by a better reputation of the brand. This can be achieved by a better relationship to the drivers. The announced rebranding should be reconsider again to not lose the brand equity. However, to benefit from the new brand, they need to build strong brand elements like slogan and brand mantra.
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Brand equity, Mytaxi, Ireland, Brand, Brand managemant, Repositioning, Brand awareness