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Consumer Behavior phenomenon analysis - Essay Example

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Whereas it is oftentimes easy to analyze the way in which consumers and interact with the given product or service in an established market for an established firm, seeking to do the same process for a relatively new firm or product offering is a different scenario entirely…
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Download file to see previous pages Through such analysis, it is the hope of this author that the reader will gain a more definitive and firm understanding with regards to the taxi application market and the way in which new startups are seeking to rapidly integrate and provide needed services for consumers within a given market. By utilizing this particular market as a microcosm of the way in which consumer interaction with given good service takes place in the way through which consumer demands as a two-way street upon the way in which marketers engage consumers, the reader will be able to come away with a more profound and delineated understanding of the way through which the process take place in a new and expansive market. The first question that will be discussed is with regards to the ultimate benefit that the consumer retains from integrating with the given service. Both articles references the fact that taxi apps have come to be a way through which the consumer’s life is greatly simplified and the process of ordering a cab to a specific geographic location does not require an individual to be physically present upon the telephone with a dispatcher. In this way, the different start up firms that have sought to provide services via a web enabled and mobile platform have sought to fulfill the consumer’s needs through decreasing the barriers that had traditionally existed for people to call taxis. Similarly, with regards to why consumers ultimately consume the product/service offered, this can be understood with regards to the inelastic demand for transportation services. Whereas it is true that there is somewhat of an inelastic demand with regards to taxi service within various parts of the world, the social and cultural determinants of a particular region are the most powerful factors in helping to delineate whether or not taxi demand is considered a luxury item or standard expense. For instance, within the United States, taxi fare, depending on the city, is not considered as an essential complement of transportation; however, within various parts of Europe and Asia, transportation is very much something that individuals integrate with on a daily basis and come to rely upon as a fundamental service (Mance 1). In this way, the young startups that have been discussed within the articles in question focus upon the means through which marketers can seek to interact with the consumer in order to maximize the level of integration with the service. This is of course done via a number of mechanisms to include aggressive online advertising, sleek and streamlined interaction with the web interface, benefits of service and specific discounts based upon region, and a rapid push to dominate specific markets. Due to the fact that these young startups are ultimately enable, at least at the current juncture, to integrate with the broader market as a whole, and instead focus upon regional and geographic focus in order to engage the highest market share. The process itself is indicative of many of the processes that more established firms within the market currently make. However, what is unique about analyzing the competition and growth/development of the taxi applications is the fact that the nascent level of the current market allows for a clear delineation in the strategic approach and level of market outreach that each firm seeks to employ. As past business interaction has proven, the ...Download file to see next pagesRead More
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