Lyft by Emil Lozev https://padlet.com/lozev_emil_05/assignment Marketing strategy en-us 2018-10-19 13:05:53 UTC 2024-06-09 02:50:45 UTC hello@padlet.com https://s3-media4.fl.yelpcdn.com/buphoto/PsCc9YH1QDlu6JzMaPuc7g/o.jpg lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299313197 2018-11-01 12:11:12 UTC https://padlet.com/lozev_emil_05/assignment/wish/299313197 Strengths lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299313317
  • Operates in more cities in the USA compared to Uber.
  • More developed infrastructure for verifying drivers and vehicles.
  • Convenient replacement to traditional taxi.
  • GM and Waze partnership
  • Doesn't own most of the cars in the company
  • A smaller percentage is taken from drivers
    • ]]>     2018-11-01 12:11:32 UTC https://padlet.com/lozev_emil_05/assignment/wish/299313317     Opportunities lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299316054
  • Self-driving cars
  • Expansion outside of USA
  • Merge/Acquisition with smaller companies.
  • Scooter industry
  • Subscription model (https://www.wired.com/story/why-lyft-is-trying-to-become-the-next-subscription-business/)
    • ]]>     2018-11-01 12:18:24 UTC https://padlet.com/lozev_emil_05/assignment/wish/299316054     Weaknesses lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299317712
  • Founded later than Uber - loses to be first in the market
  • Fewer drivers and riders compared Uber
  • Operates only in the USA
  • Uber has more external funding
    • ]]>     2018-11-01 12:22:23 UTC https://padlet.com/lozev_emil_05/assignment/wish/299317712     Threats lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299317806
  • Gas Prices
  • Legal Restrictions
  • New Platform providing better working conditions for drivers and riders
  • Automobile prices
    • ]]>     2018-11-01 12:22:36 UTC https://padlet.com/lozev_emil_05/assignment/wish/299317806     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299318178 2018-11-01 12:23:24 UTC https://padlet.com/lozev_emil_05/assignment/wish/299318178 Economics of Lyft lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299319243 A lot of the principles from this video can be applied to Lyft.]]> 2018-11-01 12:25:42 UTC https://padlet.com/lozev_emil_05/assignment/wish/299319243 Brief Information lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299326219 https://www.lyft.com

    Lyft is on-demand transportation company based in San Francisco, California. Founded in 2012 the company is the straight competitor to Uber services in the USA market. The company's revenue for 2017 was 1 billion USD and for the year 2018, it gained 35% market share. The company is also looking into expanding into Scooter industry and autonomous cars.]]>     2018-11-01 12:42:15 UTC https://padlet.com/lozev_emil_05/assignment/wish/299326219     Industry Analysis lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299327401 2018-11-01 12:44:55 UTC https://padlet.com/lozev_emil_05/assignment/wish/299327401 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299347515 2018-11-01 13:24:21 UTC https://padlet.com/lozev_emil_05/assignment/wish/299347515 Lyft vs Uber lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299898865
  • Pricing is nearly the same for both companies
  • Lyft is to deliver friendlier and casual atmosphere in their cars while Uber leans more to business people
  • Uber tends to have better fleet of cars
  • Lyft has slightly a better customer support
  • Uber operates more globally compared to Lyft
  • Uber has more external investors 
    • Reference: https://www.ridester.com/uber-vs-lyft/
    ]]>     2018-11-02 17:08:10 UTC https://padlet.com/lozev_emil_05/assignment/wish/299898865     Lyft Pricing lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299905252 2018-11-02 17:21:20 UTC https://padlet.com/lozev_emil_05/assignment/wish/299905252 The Lyft Brand lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299905471 2018-11-02 17:21:33 UTC https://padlet.com/lozev_emil_05/assignment/wish/299905471 How Lyft broke into the on-demand cab hiring market lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299908363
  • Used moments when Uber struggled with their public appearance #deleteuber
  • First to introduce 'Round up & Donate' scheme to their app
    • Reference: https://medium.com/swlh/lyfts-quiet-success-in-ridesharing-24f6ca689631
    ]]>     2018-11-02 17:26:27 UTC https://padlet.com/lozev_emil_05/assignment/wish/299908363     SWOT ANALYSIS lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299927108 2018-11-02 17:57:49 UTC https://padlet.com/lozev_emil_05/assignment/wish/299927108 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299929333 The company had some brand refresh at the end of April.

    Still, the company is aiming to not only have a particular visual aesthetic but to have an emotional connection with consumers.

    Reference: https://bit.ly/2MkksZW]]>     2018-11-02 18:01:49 UTC https://padlet.com/lozev_emil_05/assignment/wish/299929333     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299932613 2018-11-02 18:08:32 UTC https://padlet.com/lozev_emil_05/assignment/wish/299932613 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299933713 2018-11-02 18:10:58 UTC https://padlet.com/lozev_emil_05/assignment/wish/299933713 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299933923 The initial idea of the company was to be more informal, friendlier and make their customers feel more comfortable using their service. And this seems to be working pretty well for them gaining them 35% market share in the US market. Drivers are undergoing training in which they are urged to be talkative with their customers.]]> 2018-11-02 18:11:29 UTC https://padlet.com/lozev_emil_05/assignment/wish/299933923 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299940793 The company is operating through a smartphone app which is one more proof that the company is oriented to a younger audience. The company is also targeting people between 18 and 35 which makes most of their customers.

    https://www.statista.com/statistics/893401/weekly-uber-lyft-users-by-age-in-the-united-states/]]>     2018-11-02 18:25:58 UTC https://padlet.com/lozev_emil_05/assignment/wish/299940793     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299951679 2018-11-02 18:50:22 UTC https://padlet.com/lozev_emil_05/assignment/wish/299951679 Co-founder working as a driver lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299954093 2018-11-02 18:56:14 UTC https://padlet.com/lozev_emil_05/assignment/wish/299954093 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299955535 The first idea of Lyft to be distinct to Uber and other ride-sharing services were the huge pink moustache mounted on the front of their driver's cars.]]> 2018-11-02 19:00:36 UTC https://padlet.com/lozev_emil_05/assignment/wish/299955535 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299956793 Then Lyft moved to more convenient solution.]]> 2018-11-02 19:03:57 UTC https://padlet.com/lozev_emil_05/assignment/wish/299956793 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299957333 In 2016 Lyft introduced Lyft Amp which was gadget mounted on the dashboard of each driver. The Amp main idea is to connect drivers and riders with the projection of same colours both on the Amp and the rider's phone.]]> 2018-11-02 19:05:33 UTC https://padlet.com/lozev_emil_05/assignment/wish/299957333 Yellow-Sticker Policy lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/299999046 Lyft is operating TCO policy providing their customers with fares before confirming their rides. The company is not issuing any additional costs. ]]> 2018-11-02 21:44:50 UTC https://padlet.com/lozev_emil_05/assignment/wish/299999046 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300236643 While attracting riders, at the same time Lyft should be attracting drivers. The company should be competitive in the pricing they are offering in order to overcome the huge competition. The service is charging 20% of drivers.]]> 2018-11-04 19:54:43 UTC https://padlet.com/lozev_emil_05/assignment/wish/300236643 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300238858 Lyft offers several levels of transportation:
    1. Lyft
    2. Lyft Shared
    3. XL
    4. Lux
    5. Lux Black
    6. Lux Black XL
    All these levels have different starting and per mile prices. Another factor which can fluctuate the price is the geographical factor - in prices depend on the city.
    ]]>     2018-11-04 20:07:38 UTC https://padlet.com/lozev_emil_05/assignment/wish/300238858     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300240058 "drivers earned an average of $15.68 and $17.50 per hour at Uber and Lyft, respectively " - this statement is not particularly accurate since it doesn't include expenses such as gas, car repairs, car depreciation and others]]> 2018-11-04 20:15:24 UTC https://padlet.com/lozev_emil_05/assignment/wish/300240058 PESTEL lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300245933 2018-11-04 20:51:20 UTC https://padlet.com/lozev_emil_05/assignment/wish/300245933 Political lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300246022 With the election of Donald Trump as the president of US saw the rise of new regulations. However, these didn't affect the company directly. If any political restrictions like privatisation of the taxi market can affect the company.]]> 2018-11-04 20:51:55 UTC https://padlet.com/lozev_emil_05/assignment/wish/300246022 Economical lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300251461 Economically wise US has a stable economy with a tendency of growth. The legislation of rising the import taxes may concern the automobile markets, on which the company's drivers solely rely.]]> 2018-11-04 21:30:05 UTC https://padlet.com/lozev_emil_05/assignment/wish/300251461 Social lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300251589 Lyft made several smart moves while their competitor Uber was facing some socially related problems. The company used the time to gain the status of the right alternative to Uber. With acts like donating 1M USD to American Civil Liberties Union. (https://bit.ly/2ANDjc9)]]> 2018-11-04 21:31:04 UTC https://padlet.com/lozev_emil_05/assignment/wish/300251589 Technological lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300251603 The firm is eager to be on the top of technology trends. AI and self-driving cars are the hottest topics nowadays and Lyft is not falling behind.]]> 2018-11-04 21:31:09 UTC https://padlet.com/lozev_emil_05/assignment/wish/300251603 Environmental lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300251650 Lyft is a green-aware company trying to appear environmentally concerned. All Lyft Rides Are Now Carbon Neutral]]> 2018-11-04 21:31:32 UTC https://padlet.com/lozev_emil_05/assignment/wish/300251650 Legal lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300251706 The company had problems in California where the state insists that each of their "contractors" should be hired from the company (https://bit.ly/2IgwiVJ). ]]> 2018-11-04 21:31:54 UTC https://padlet.com/lozev_emil_05/assignment/wish/300251706 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300258270 2018-11-04 22:18:04 UTC https://padlet.com/lozev_emil_05/assignment/wish/300258270 Tipping lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/300258289 The app also has the option as a rider to tip the driver.]]> 2018-11-04 22:18:16 UTC https://padlet.com/lozev_emil_05/assignment/wish/300258289 Uber losing over Lyft market share in some cities lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301411276 https://seekingalpha.com/article/4135429-2018-ipo-prospects-lyft-appears-changing-gears-list]]> 2018-11-07 10:57:22 UTC https://padlet.com/lozev_emil_05/assignment/wish/301411276 The potential future development of ride-hailing services lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301412193 https://seekingalpha.com/article/4099080-uber-lyft-might-toast]]> 2018-11-07 11:00:39 UTC https://padlet.com/lozev_emil_05/assignment/wish/301412193 Curb - Taxi hiring mobile app lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301417857 Although the Curb service is not a direct competitor to Lyft, the company is providing a very similar experience. Curb is operating through a mobile application and provides an easy way of calling a taxi.
    https://gocurb.com/]]>     2018-11-07 11:18:51 UTC https://padlet.com/lozev_emil_05/assignment/wish/301417857     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301420516 2018-11-07 11:26:41 UTC https://padlet.com/lozev_emil_05/assignment/wish/301420516 Lyft expanding to Canada lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301420834 2018-11-07 11:27:25 UTC https://padlet.com/lozev_emil_05/assignment/wish/301420834 Definition of the market lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301621248 Lyft is operating in the on-demand transportation market. The service is an alternative to the old taxi cabs, which are not as flexible and cheap. Lyft has two main marketing targets - drivers and riders. The company should try to provide unique working conditions for drivers and great service for riders. Their main competitor is in the face of Uber - which provide service worldwide. Lyft is looking to target the everyday person - the one that can use their service to commute to work, ride with friends or get back home after a night out. The company is also targeting into the younger part of the society - almost 50% of their riders are between the age of 18 a 34.

    Targeting seniors - https://www.jibbr.org/blog/uberlyftseniors]]>     2018-11-07 16:44:05 UTC https://padlet.com/lozev_emil_05/assignment/wish/301621248     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301659460 "would you be more likely to book a flight to Costa Rica because of the ad at the bus station with the catchy slogan, or because your college roommate started sharing pictures of her trip" - how Lyft managed to outsource their storytelling to their customers (https://bit.ly/2PH3Y2B)]]> 2018-11-07 17:28:39 UTC https://padlet.com/lozev_emil_05/assignment/wish/301659460 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301666888 2018-11-07 17:39:27 UTC https://padlet.com/lozev_emil_05/assignment/wish/301666888 Statistical study on Lyft lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301700792 2018-11-07 18:26:15 UTC https://padlet.com/lozev_emil_05/assignment/wish/301700792 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/301704235 Lyft revenue projection till 2020.
    https://www.statista.com/study/58248/lyft/]]>     2018-11-07 18:31:14 UTC https://padlet.com/lozev_emil_05/assignment/wish/301704235     Marketing the Lyft company lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308399162 Lyft expansion into Canada will face the company with task of building brand awareness among the cities they will be operating.

    The company main target group is people between 20 and 35 years old. The way to get in touch of them is by social media. The most used social media in Canada is still Facebook with 80% share. Other social media platforms that could be taken under consideration are LinkedIn, where a lot of working professionals could be targeted, Instagram is the a new trend which is popular among young generation and also YouTube.

    Building brand awareness is a tedious job, especially when Uber services are already known in the region. Lyft should promote some kind of difference between their services and Uber's. Another way breaking into the market is by promoting cheaper services.

    Lyft, on the other hand, has to attract drivers. The company succeeded in the US market by providing better working conditions for drivers such as:
    - smaller percentage taken from each ride
    - Lyft Express - the company offers car leasing and if you make more than 75 rides a week the car is free
    - getting paid for canceled shifts
    - rewarding schemes]]>     2018-11-27 17:14:47 UTC https://padlet.com/lozev_emil_05/assignment/wish/308399162     Social Media Usage in Canada lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308404665 2018-11-27 17:22:25 UTC https://padlet.com/lozev_emil_05/assignment/wish/308404665 STP lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308405836 It is not always the case when segmentation works for defining specific parts of the market and how to target people.]]> 2018-11-27 17:24:16 UTC https://padlet.com/lozev_emil_05/assignment/wish/308405836 Social Media Usage in Canada by age lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308414430 2018-11-27 17:37:05 UTC https://padlet.com/lozev_emil_05/assignment/wish/308414430 Most important things for drivers lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308532262 2018-11-27 20:51:33 UTC https://padlet.com/lozev_emil_05/assignment/wish/308532262 Marketing plan objectives lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308532992 1. Build brand awareness
    2. Get both drivers and riders to sign up for the platform]]>     2018-11-27 20:53:26 UTC https://padlet.com/lozev_emil_05/assignment/wish/308532992     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308534165 500 drivers

    2000 riders

    measure through app downloads]]>     2018-11-27 20:56:01 UTC https://padlet.com/lozev_emil_05/assignment/wish/308534165     Segmenting lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308534811 2018-11-27 20:57:24 UTC https://padlet.com/lozev_emil_05/assignment/wish/308534811 Targeting lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308534862 2018-11-27 20:57:30 UTC https://padlet.com/lozev_emil_05/assignment/wish/308534862 Positioning lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308534990 2018-11-27 20:57:47 UTC https://padlet.com/lozev_emil_05/assignment/wish/308534990 Demographic lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308863315
  • Age: 18-35 are the most frequent users of the platform
  • Gender: male and female
  • Education: any
  • Ethnicity: any
  • Living in urban areas and residential areas
    • ]]>     2018-11-28 16:03:42 UTC https://padlet.com/lozev_emil_05/assignment/wish/308863315     Socio-demographic lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308863699
  • People who are socially active, occasionally going out
  • Travelers
  • People who use new technology daily
  • Cost conscious
    • ]]>     2018-11-28 16:04:15 UTC https://padlet.com/lozev_emil_05/assignment/wish/308863699     Geographic lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308863962
  • United states
  • Canada
  • Urban and residential areas
    • ]]>     2018-11-28 16:04:37 UTC https://padlet.com/lozev_emil_05/assignment/wish/308863962     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308884725 See cab usage in the selected city

    Lyft has to be the better alternative to Uber in this city]]>     2018-11-28 16:32:56 UTC https://padlet.com/lozev_emil_05/assignment/wish/308884725     Lyft Advertisments lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308895491 2018-11-28 16:47:43 UTC https://padlet.com/lozev_emil_05/assignment/wish/308895491 Size lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308944755 Main target area for services like Lyft are large urban and residential areas. These areas are occupied by 50% to 90% of the population, so the size of the target group is pretty huge.]]> 2018-11-28 18:03:17 UTC https://padlet.com/lozev_emil_05/assignment/wish/308944755 lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/308947541 Lyft is positioned more towards the budget friendly ride-hailing services, even though they provide and luxury vehicles. 
    The service has more friendly atmosphere promoted in the market.]]>     2018-11-28 18:07:51 UTC https://padlet.com/lozev_emil_05/assignment/wish/308947541     lozev_emil_05 https://padlet.com/lozev_emil_05/assignment/wish/309058604 2018-11-28 21:24:46 UTC https://padlet.com/lozev_emil_05/assignment/wish/309058604