Ola Cab Marketing Strategy – Marketing Strategy of Ola Cab: Bhavish Aggarwal, the founder of a Cab aggregator that creates an online marketplace for Taxi, started his entrepreneurial venture in 2010 after he encountered the deep-rooted problem in India in quality Cab service and professionalism Cab drivers.
The brand received funding from angel investors as well as companies such as Softbank, Tekne Capital, and Vanguard. In 2017, the company received $ 18 million due to the increase in demand.
Ola Cab At A Glance – Marketing Strategy of Ola Cab
Company : ANI Technologies Private Limited
CEO: Bhavish Aggarwal
Founder: Bhavish Aggarwal | Ankit Bhati
Year founded: 3 December 2010, Mumbai
Headquarters: Bangalore, Karnataka
Annual Revenue: US$330 million
Profit | Net income: US$12 million
Number of employees : 3,000
Products & Services: Vehicle for hire | Goods and food delivery | Mobile payment and digital wallet
Ola Cab Competitors
Competitors: DiDi Global | Grab | Uber | Meru Cabs | Careem | sky cabs
Ola Cab Fun Facts: If all the vehicles on the Ola platform are made to stand in the line, the length would be 3895 kms. That’s the distance from Kashmir to Kanyakumari!
Marketing Strategy of Ola Cab
Ola Cab’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Ola Cab? Let us discuss.
Segmentation, Targeting, Positioning – Ola Cab Marketing Strategy
Ola Cabs has been segmenting its market into metro and urban areas to develop a promotional and business strategy that is based on demand.
It also segments customers based on customer income profiles such as Ola Luxe, Prime, Ola Share, and Autos.
The company caters to different customer segments, i.e. It serves customers who travel long distances outstation, customers living within 8 km, and customers using shuttle service.
Ola Cabs is a company that makes mobility convenient, affordable, safe, and accessible 24 hours a day.
Ola Cab Mission Statement
“Building Mobility for a Billion Indians”
Ola Cab Vision Statement
Ola Cab Tagline
Competitive Advantage – Marketing Strategy of Ola Cab
1. Strategic Acquisitions: To strengthen its business, it has acquired other companies, such as TaxiForSure.com, which was purchased for $ 200 million in 2015. In 2015, Geotag, an intelligent transport company, was acquired by the company. Qarth, an Ola money acquisition, was also acquired in 2016. Foodpanda was recently acquired to compete in the meta-market.
2. Promotional Strategy: The company has been able to stay ahead of its peers by using innovative concepts and advertisements such as Chalo Niklo and Ola Share Pass, Ola Outstation, Shuttle, and Ola Peddle.
BCG Matrix – Ola Cab Marketing Strategy
The Ola Cab offers services to passengers and corporate customers via Ola Shuttle. Daily office workers using fixed routes and Ola Outstation.
Ola has penetrated the Tier-3 cities of India through its Ola passenger section, which is a far greater percentage than the peer companies. It also holds around 40% of the market share. The other segments are still in development and are question marks in the BCG matrix.
Distribution Strategy – Marketing Strategy of Ola Cab
Ola Cabs is present in more than 180 cities in India. It empowers and collaborates with approximately 10,00,000.
Ola Cabs is a platform that allows customers to book a Cab, and drivers to get passengers for a small commission. Ola Cabs doesn’t need a car to operate. Any driver who has been duly authorized by transport authorities can use Ola.
Ola employs 6000 people who are dedicated to providing the best technology services for its stakeholders.
Brand equity – Ola Cab Marketing Strategy
The Company has promoted itself with popular production houses of the new age and short films like TVF’s Permanent Roommates, All India Bakchod(AIB), and Rear View.
Over the years, the brand has received numerous awards and accolades, such as the 2013 mBillionth Awards South Asia by IAMAI Best Start-up of The Year award. It was also listed 30 on Forbes. As of March 2017, the brand was valued at $ 5 Billion.
Competitive Analysis – Ola Cab Marketing Strategy
Competing in a market that has many modes of transport is easy for the company since its operations.
It has a wider presence than Uber, which is only present in 55 cities. Ola pays drivers based on how many trips they make and gross payment. Uber pays drivers based on the daily collection of drivers. These are just a few of the many competitive advantages that the brand has built to be ahead of its peers.
Ola Cabs competes against operators in markets such as the domestic unorganized Taxi Market, Uber, Meru Cabs, etc.
Market Analysis – Marketing Strategy of Ola Cab
According to ICRA reports, domestic Cabs has strong growth potential and high income. This is supported by higher income, purchasing parity, and low passenger vehicle penetration. These cab aggregators include Ola, Uber, and others. By 2020, they will have a growth rate of 15-17%.
Companies are developing competitive deliverables to strengthen their brand offerings. Ola Cafe by Ola failed to make its mark in 2016. Later, Ola bought Foodpanda and UberEats by Uber.
Customer Analysis – Ola Cab Marketing Strategy
There are four segments of the passenger Cabs market: those who enjoy sharing cabs with others, those who prefer to take their own Cab wherever they go, and office-goers, as well as long-distance commuters.
The Bank’s segment customers are mostly between 20 and 45 years old, are young office workers, and college students, and are primarily from the younger age bracket.
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