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.
Table of Contents
Executive Summary
1. Introduction
2. Brand Overview
3. Brand analysis
3.1 Customer analysis
3.2 Self-analysis
3.2 Competitor analysis
4. Repositioning strategy
5. Conclusion
Research Objectives and Key Topics
This report aims to conduct a comprehensive brand analysis of mytaxi in Ireland, evaluating its current market positioning and identifying strategies to overcome challenges related to reputation and customer trust. The core focus lies on analyzing the effectiveness of existing brand strategies in reaching target demographics amidst intense competition and shifting market conditions.
- Analysis of the Irish ride-hailing market and demographic trends.
- Evaluation of mytaxi’s internal brand elements and historical performance.
- Comparative analysis of key competitors: Uber and Lynk.
- Development of a strategic repositioning framework to improve brand loyalty.
- Assessment of the impact of rebranding on brand equity.
Excerpt from the Book
3.2 Self-analysis
Mytaxi is the name of the company and of the brand under which they operate. As Farhana (2012, p. 225) mentioned, “the most common brand elements are names, logos, symbols, characters, packaging and slogans.” Sometimes mytaxi uses the brand name in their logo but the main logo is a yellow or black X with a location info sign over it as in Figure 3 (Schaffrinna, 2013; Greif, 2015).
As they provide services, they do not have a packing. Neither have they had characters. Normally every company has a slogan, but the research could not find out one. It shows that it is not known and not successful when in could not be found by research.
To start to operate in Ireland, mytaxi decided to merge with Hailo, an already established taxi app in UK and Ireland. Recorded to Taylor (2016) Hailo had around 45.000 passengers and more than 10.000 registered drivers. Hailo was founded in 2009 and their services started in Ireland in 2012. The company already had their own app for their customers over which taxis could be booked. Mytaxi had to combine Hailos app and their own one. It was one of the biggest app migrations in Europe and the first time two taxi apps were merged (Newstalk, 2017). This was a huge problem for the company, which led to more problems later.
Summary of Chapters
Executive Summary: Provides an overview of the analysis, noting the decline in taxi licenses in Ireland and mytaxi’s reputation issues despite high usage.
1. Introduction: Discusses the rapid evolution of travel technologies and the necessity for companies to maintain a clear brand strategy to remain competitive.
2. Brand Overview: Details the founding of mytaxi, its integration into Daimler Mobility Services, and the specific transition from Hailo in the Irish market.
3. Brand analysis: Examines customer demographics, the internal status of the mytaxi brand, and provides a comparative look at competitors Uber and Lynk.
3.1 Customer analysis: Explores the diverse user base of mytaxi and analyzes the impact of government regulations on taxi driver numbers and market demand.
3.2 Self-analysis: Critiques mytaxi's brand identity and the significant complications caused by the migration from the Hailo application.
3.2 Competitor analysis: Compares mytaxi with Uber and Lynk using a Gartner-inspired matrix to evaluate market performance and strategic vision.
4. Repositioning strategy: Proposes that mytaxi must adopt a more emotional brand approach and improve driver relationships to restore trust and loyalty.
5. Conclusion: Summarizes the need for individualized, country-specific strategies and emphasizes the importance of prioritizing customers in a changing technological landscape.
Keywords
mytaxi, brand analysis, repositioning strategy, ride-hailing, Ireland, Hailo, brand equity, customer trust, market competition, Daimler Mobility Services, taxi industry, brand loyalty, strategic marketing, driver relations, Free Now
Frequently Asked Questions
What is the core focus of this research paper?
The paper focuses on analyzing the brand strategy of the ride-hailing company mytaxi within the Irish market and developing a repositioning strategy to address existing challenges.
What are the central themes of the work?
The central themes include brand equity, the impact of corporate mergers on customer loyalty, the competitive landscape of the ride-hailing industry, and the necessity of emotional branding.
What is the primary objective of this analysis?
The primary goal is to evaluate why mytaxi's current brand strategy is not effectively reaching the Irish target group and to provide actionable recommendations for improvement.
Which scientific methods were applied in this study?
The study utilizes a SWOT analysis for internal assessment and a Gartner Magic Quadrant matrix to comparatively analyze the market positioning of mytaxi, Uber, and Lynk.
What key aspects are discussed in the main body?
The main body covers a customer analysis, a self-analysis of the brand identity, an overview of the technical and reputation-based problems following the Hailo merger, and a competitive analysis.
Which keywords define this work?
The work is characterized by terms such as ride-hailing, brand equity, repositioning, customer trust, and market competition.
How did the merger with Hailo specifically affect mytaxi?
The merger was described as one of the largest and most complex app migrations in Europe, which caused significant technical disruptions and long-lasting reputation damage among both passengers and drivers.
What is the author's stance on the rebranding to "Free Now"?
The author is critical of the constant rebranding, suggesting that it risks destroying existing brand equity and that the company should instead focus on building stronger brand elements like a clear mantra or slogan.
- Arbeit zitieren
- Vanessa Busch (Autor:in), 2019, A brand analysis of mytaxi. What could a repositioning strategy include?, München, GRIN Verlag, https://www.grin.com/document/493235
