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.
