Uber Market Share
Uber has become a cornerstone in the ride sharing market that has swept the nation. It uses a marketing strategy of being available starting in the biggest cities in America and has now spread to smaller cities and towns by being good for both the consumers and the drivers for Uber. The product that Uber provides is an on call ride service that is accessible through a smartphone app to call, track, and pay for a private taxi driven by an everyday person like yourself in a city that they know. It is an excellent service, especially for a tourist or vacationer in an unfamiliar city. They use a competitive pricing strategy too that bases its pricing on popular events going on in the area as well as number of drivers available. Its availability that is spreading throughout the US is a wonderful for the business as it is becoming attractive to have more people drive for Uber to make some supplementary income to their normal day job or as a full time driving career wherever they are.
The main competition for Uber has been other ride share programs such as Lyft, or your everyday city taxi or bus services. The availability of Uber in more cities and towns across the US have been a large boon for them and has helped to overcome their competition by offering better promotional pricing on holidays and special events in areas where these events are occurring. This competitive advantage is also being held onto especially over the local taxis and bus services as it is seen as a considerably cleaner and more comfortable way of traveling, especially in unfamiliar cities. This will allow Uber to continue to grow and outserve taxis and other rideshare services as they promote their business as being the best choice for many demographics. The sharing market in the transportation market has seen a reduction in the need and congestion for public transportation in major cities like Boston, Miami, and New York. This increase in popularity may lead to completely privatizing the taxi service within the next several years or decades.
The strengths of Uber are largely their exposure and the fact that they were really the first to privatize a ride share program in larger cities to build their brand and the business from the start. This word of mouth spread quickly to other cities and towns to spread their business nationwide. It has become a strong brand in an innovative niche of the market. It does have its weaknesses in that being the first, they laid down the research and marketing infrastructure for other ride sharing companies to take their non copyright ideas to start their own company with less risk as they are now entering a proven market. This also poses a threat to Uber as if a company is able to come into the market and undersell a proven product due to a lack of research or development necessity, it can threaten the profitability of the company. Uber does have an opportunity to grow their empire by employing more drivers in key areas and offering better compensation than their competition and also lowering their insurance overhead by spreading the risk over more drivers in their company.
One of the best ways that Uber has grown their business and can continue to grow is to offer more ride availability in more rural parts of the country. Uber has started to offer even from beyond city outskirts and into more rural areas for rides. They have also started to offer "black car" services for more elegant ride share opportunities to compete with livery services in big cities, as well as offering van and larger car options for families or shuttle services. These expansions have helped and continue to help put them above their competition and will prove to be profitable for them in the years to come for their company.
The main competition for Uber has been other ride share programs such as Lyft, or your everyday city taxi or bus services. The availability of Uber in more cities and towns across the US have been a large boon for them and has helped to overcome their competition by offering better promotional pricing on holidays and special events in areas where these events are occurring. This competitive advantage is also being held onto especially over the local taxis and bus services as it is seen as a considerably cleaner and more comfortable way of traveling, especially in unfamiliar cities. This will allow Uber to continue to grow and outserve taxis and other rideshare services as they promote their business as being the best choice for many demographics. The sharing market in the transportation market has seen a reduction in the need and congestion for public transportation in major cities like Boston, Miami, and New York. This increase in popularity may lead to completely privatizing the taxi service within the next several years or decades.
The strengths of Uber are largely their exposure and the fact that they were really the first to privatize a ride share program in larger cities to build their brand and the business from the start. This word of mouth spread quickly to other cities and towns to spread their business nationwide. It has become a strong brand in an innovative niche of the market. It does have its weaknesses in that being the first, they laid down the research and marketing infrastructure for other ride sharing companies to take their non copyright ideas to start their own company with less risk as they are now entering a proven market. This also poses a threat to Uber as if a company is able to come into the market and undersell a proven product due to a lack of research or development necessity, it can threaten the profitability of the company. Uber does have an opportunity to grow their empire by employing more drivers in key areas and offering better compensation than their competition and also lowering their insurance overhead by spreading the risk over more drivers in their company.
One of the best ways that Uber has grown their business and can continue to grow is to offer more ride availability in more rural parts of the country. Uber has started to offer even from beyond city outskirts and into more rural areas for rides. They have also started to offer "black car" services for more elegant ride share opportunities to compete with livery services in big cities, as well as offering van and larger car options for families or shuttle services. These expansions have helped and continue to help put them above their competition and will prove to be profitable for them in the years to come for their company.
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