Requirement: How to create summary from these paragraphs. I only have 15 minutes to present it

Company background and/or problem:

Lyft Company offers transportation services and makes a connection between driver and passenger in secure way. These services are offer to customers via mobile application. The founders of the company are "Logan Green" and "John Zimmer".Lyft make a significant performance from past years, which results in expansion of services to more than three hundred cities. Lyft Company faces huge problems in connectivity. The problem arises in mobile application of lyft because in most of places, its connection was limited. Another problem includes global recognition, insurance requirement and bonuses. So, drivers were not motivated and retained in good manner, which result in loss of employee, affects the revenue of company. The legal terms are not authorized properly which is also a problem related to security.

Situational analysis:

PEST analysis:

Lyft Company is continuously facing internal and external environment factors. Therefore, internal environmental factors can be controlled by management. But it is very difficult to access the factors externally. Therefore, PEST analysis is used to analyses political, social, economical, environmental, technological factors.

Political-Legal Factor:

Lyft Company is based on transportation services. Politically and legally, Lyft Company has no defined rules and terms. If any kind of accident occur than situation become uncertain that what's the main reason and who is behind this act (Lyft Marketing plan, 20). Therefore, a company also itself does not define any legal term. The rights for driver are not clearly defined. So, legally, Lyft rules are not properly defined which makes the Company unstable in nature.

Economic factor:

Lyft Company follows a trend of sharing value among shareholders in economic setting. Therefore, company is facilitating drivers by giving them a complete assesses of mobile application by using driver car. Thus, GPS companies are offering their services to Lyft to use the GPS services in order to track vehicle (Godinez, 2016).As a result, Lyft Company is paying to them in return by sharing revenue. Hence, it only because of valued shareholders, Lyft Company is now successful.

While talking broadly about economic factor, company is utilizing its resources at its best level which results in great share of revenue among partners. In past, drivers who were operated in Lyft Company cannot earn good revenues as today. But now, economically, Lyft Company is stable in nature by combination of stakeholder's values. Drives are getting good amount of profits today.

Social factors:

While talking about social factors, Lyft Company solves the social complexities and makes an easy mobile application for individuals (Husman, 2013). By requesting Lyft car with the help of application connects people with driver along with drive information, contact number, tracking details and ratings. Hence, it solves social problems in best way.

Technological factor:

Lyft services are beating technology. By creation of mobile application, tracking details, driver detail, ratings and many more things in one of smart phone is the best invention by company. By using mobile application at any time bring comfort in many people life. On the other hand, an increased use of social media also creates better awareness among people about Lyft Company services.

Application is very easy to understand, easily present in play store, easy to search locations and request nearby driver. So, technologically, Lyft Company is compatible in nature and meets the standards of modern living.

Competitor analysis:

Strengths:

Company is operating 24/7 in securer way. Also, company is offering very low-cost rates to their passengers. Since, services by Lyft Company are based upon innovation, so its importance cannot be denied. Company is attracting large number of people of any age group with very smart solution of transportation. Thus, Lyft connect with customers along with their cab driver at the nearest proximity. Willing customer facilitate with expected time of drive while booking the ride (HOW LYFT WORKS, LYFT BUSINESS MODEL & INSIGHTS, 2018). Users of Lyft Company can track the position of driver. Payment is certain and show to customers when ride end. The charges divisions are based upon two things: 20% commission will go to company premises while 80% will consume by driver. The rating system of Lyft provides a framework to customers about the driver.

Weakness:

There is not any certain method for paying fares to drivers. Also, improper scheduling makes the internal procedures weaken. Lyft mobile application only works with the availability of internet. Therefore, with no internet connection, the application will be unable to work correctly. Now, when talking about shares, drivers of Lyft Company only get minimal number of shares. While due to improper management, unmotivated drivers switch towards other Company (Adam, 2017). So, Lyft will be unable to offer quick services at any time due to lower number of drivers. A big portion of income goes to driver pocket while 20% is consumed by Company. Therefore, the profit on each ride is very limited.

Positioning:

Lyft Company offers its services in California and San Francisco. Therefore, the company services are position there. The positioning of Lyft customers is very good and unique as compare to other transportation services company (Coffee, 2017). Thus, customers feel comfort, secure and safe while booking ride to reaching at their desired place. Due to its reliable and credible transport services, the customers of Lyft Company utilize their offer and give a good feedback.

Market share:

Lyft Company claims that they attain 35 percent of United States market share and enjoys majority of market share (Bosa, 2018). Thus, their momentum shows a high market share. More ever, the market growth of Lyft Company is 75%. It is only because there are high numbers of customers and drivers that relate to Lyft Services.

Complete SWOT analysis and SWOT matrix:

SWOT analysis:

Strength:

Drivers of Lyft Company utilizes their personal vehicle which helps in business growth.

The cars of Lyft consist of broad mustaches that appear on the front which strengthen the business recognition.

Rides offered by Lyft to public are usually low cost oriented.

The application of Lyft Company is easy to use.

Weakness:

Legally, company has no rights for person. Therefore, if any kind of accident occurs, no proper terms are defined for that act.

Profit earned by Lyft Company is low. Thus, a huge amount will facilitate to drivers.

Opportunities:

By installing and availing services of Lyft, customers get engage with their services which results in high rate of growth and profit.

Lyft offers different categories of ride. So, it is a great opportunity for customers to choose their desire category such as party buses, cars and many more.

Lyft can avail better opportunities by defining its terms in clear way and make their service better.

Threats:

Biggest rival such as Uber is a threat for Lyft Company.

Due to poor connections, customers will switch towards other company (jakefrank, 1991).

SWOT Matrix:

SWOT matrix will help Lyft company to certain their strengths and weakness and avail opportunities and minimize threats to achieve successful factors.

HelpfulHarmful

Strengths:

Innovative technology

Easy to use

Reasonable packages

Resolve transportation issues

Secure

Safe

Easy to track driver location, information, and fare information.

Weakness:

Poor connection

Lower profit is gain by Lyft company.

Improper scheduling

Limited drivers

Low amount of share given to driver

Uncertain method for share

Opportunities:

Availability 24/7.

Large use of smart phone

Expansion rate on new cities

Hiring more drivers

Threats:

Laws are not defined

Not valuable to new investors

Low rate of satisfaction of drivers

Limited area coverage

Competitive advantage:

Lyft has following competitive advantages that are as follows:

Pick-up time:

People will have an opportunity to know about the pick-up time and desired car will provide results in minus or plus five minutes. Thus, the biggest competitor of Lyft Company which is Uber has limited to this feature(Nicola McCarthy, 2015) .

Rebuilding strategies:

The new chief of Lyft Company named "Melissa Waters" rebuilds the strategies of a company. Thus, according to her, brands are recognizable only at the heart and mind of consumers. So, she became very happy while knowing that in Silicon Valley, everyone recognizes about the Lyft brand. Hence, it is a biggest competitive advantage for a company about a great awareness among people rather than other brands such as Uber.

Economies of scale:

Lyft has partnership with valued autonomous industries which includes Google Waymo and General Motors. Thus, they are the biggest investors of a company. Also, Lyft has a great chance to earn better economies of scale as compare to other. By making drivers independent along with their car raises Company economic benefits (Shirman, 2018).

Strategic Focus:

From the above competitive advantages, the most sustainable advantage is brand awareness and recognition among large number of people. Therefore, strategic focus would be as follows:

By improving performance and enhancing productivity, strategic focus will build by Lyft Company. Due to high awareness, company will be able to earn high rate of revenue. Since, high rate of customers will enhance the performance of company and its profit.

Lyft can expand its services by making new users and innovative uses in new market. Therefore, by increasing share, Lyft will acquire share and create alliances.

By improving productivity, Lyft can expand its market by increase price, add value, and alter product mix. In addition to that, share can be increase through capital cost, fixed cost, and variable cost.

Lyft Company vision:

We are making moderate world through our rides. We are making world smart. We are enhancing and joining transporting and technology together. Thus, we are facilitating communities and resolve their transportation issues. We are here for people, resolve their problems through our services and make them happy by our safe and secure ride. We secure you through our best services with low cost (Green, 2018).

Lyft Company Mission:

Lyft Company brings people together through their sage, secure and reliable transportation service. Our mission is to create value for society, good for people through our transportation services and make their travel comfort.

Values:

Lyft Company values are based upon three things:

Be yourself

Uplifting others

Make it happens

Therefore, Lyft Company offers efficient values to its drivers and customers.

Customer Value:

Lyft eliminate the waiting criteria for driver. Thus, they are offering services by just booking your ride and nearby driver will reach at your doorstep.

Lyft offers many promotional and free rides on many occasions, and customers avail the discounted rides.

The environment offers by Lyft Company is very friendly. Thus, customer does not feel that they are travelling with rider.

Prices of Lyft rides are economical as compare to taxi ride.

The tag line of Lyft illustrates," you are travelling with your friend". Thus, it creates customers value.

Driver Value:

Drivers are earning great source of income.

The schedules for drivers are very flexible. So, they can work at any time and earn money.

The payments structures are very easy for drivers.

Segmentation and target market:

Companies are using segmentation and targeting market in to four variables, Demographic, Psychographic, behavioral, and geographic segmentation. Lyft Company targets all the people of different ages. Since, they are providing transportation services, so everyone can be delighted by the services.

Analysis of Potential Customer:

Lyft Company has its actual as well as potential customers. So, Lyft Company sees future where their services will connect the communities and trump the ownership of car. Lyft has large number of potential customers because its services are based upon mobile application where everyone can download the application and book their ride. So, customers that are educated need secure and safe transportation facilities, business executives should be their potential customers.

Lyft Company expands its services. Thus, at its initial stage, Lyft operates in only two cities known as San Francisco and Los Angeles. But now, Lyft Company is working on 60 cities with hiring of thousand people. Hence, they are earning high rate of profit. So, due to expansion of cities, Lyft has increased its potential customers (Growing Lyft's Ridesharing Community With In-Market Audiences, 2015). Lyft potential customers are "potential Drivers" and "potential customers".To achieve growth, Lyft should have to increase its drivers and potential customers. In one report, Lyft saw that conversation has been increased at the rate of 74% after applying in the audiences in market. Hence, it shows that new sources of conversation are enhancing rather than utilizing from existing channel.

Market segmentation:

Segmentation

Variables

Detail

Geographic Segmentation

Location: San Francisco and Los Angeles

At start, Lyft was offering its services to San Francisco and Los Angeles. So, the target population is based upon these countries. But now, they are offering their services in more than sixty cities. So, they have very large geographic segment (Logan Green, Lyft.com, 2012).

Demographic Segmentation

Age: 16-above age group

Education: educated people, sensitive about security terms and condition.

Socio economic status: low, moderate, and high socio-economic status people

Occupation: business class, job holders, students, executive and working as well as household women.

Age group that lies from 16 to onwards be targeted by Lyft Company. Every type of age group educated people, business class, job holders, college going, universities going, families and certain other people who need secure and safe transportation facility at their doorstep are targeted by them.

Lyft is offering various product categories such as line, Lyft, Lyft Plus and executive or wedding occasion ride. So, they target status conscious people as well as other people because they are offering low cost rides to moderate and high level as well (Griswold, 2018).

Behavioral Segmentation

Love to travel, love to earn

Lyft Company is targeting people who need rides on daily, monthly, or weekly basis. So, they target people and drivers who want to earn and need safe and secure ride at their door step (GREEN, 2018).

Psychographic Segmentation

Personality: white collar, professionals, students, working women

Attitude: conscious about traveling, safe and secure travelling

Lyft Company target people whose attitude and personality are education oriented, conscious about security, behaviors are more conscious towards safety features (Shaban, 2018).

Geographic segmentation:

Lyft Company offer its services in more than sixty cities including San Francisco and Los Angeles. Thus, Lyft Company covers high Geographical area and its population.

Demographic Segmentation:

Lyft target certain age group such as business class, teen age, working class and many other groups. Thus, age ranges from 16 years to 50 years. They target people who have low to high incomes because they are offering economical services to public. Their high product categories are for business class and executives and cost more as compare to Lyft, Line and Lyft Plus.

Psychographic segmentation:

Lyft target people who are educated and love to travel in safe and secure manner.

Behavioral segmentation:

Lyft Company target people who need transportation services at daily, monthly, or weekly basis.

Thus, market segmentation supports the strategic focus of Lyft Company.

Marketing Mix and implementation plan:

The marketing mix consists of 4p's known as product, price, place, and promotion.

Product strategies of Lyft Company:

Lyft offer people to book a ride through mobile application. Thus, with the internet facility, people can book and reach at their desired destination place. The products offered by Lyft Company are as follows:

Line:

This category allow customer to avail the same requested car if they are booking same direction. Thus, this service is applicable in few cities.

Lyft:

It is the second type of product. Thus, in this case, customers will connect to nearest car if they request for a ride.

Lyft Plus:

This category is featured for families and group of people. Lyft Plus consists of car with six seat and spacious inside.

Car for events, wedding, and executive transportation:

The fourth and five categories are used for wedding events and other executive events. Thus, these cars are booked upon customer demand and charges will depend upon available facilities (Logan Green, Lyft.com, 2017).

Pricing strategy by Lyft Company:

Lyft is following "penetration pricing strategy". Lyft offers many products to its customers at low cost. Thus, they offer many packages and promo code to its customers. Pricing strategy plays an important role creating popularity of services. Company is delighting customers through its services at low cost. Hence, users of Lyft are very satisfied with pricing and utilize the options available.

Distribution strategies of Lyft Company:

Lyft Company offers its services in more than 60 cities. Therefore, drivers get register themselves with Lyft and start their business. Lyft distribute its services via increasing rate of drivers. Thus, they are booming their business day by day (Morrison, 2015).

Integrated communication strategies:

Statement of target market:

Lyft Company consists of diverse range of demographics. Therefore, riders are mostly young falling under the age of 25-34. Thus, the passengers are mostly educated with 80% holds bachelor's degree. Thus, Lyft target middle to high class people who are educated and lies between the ages of 25-34 year.

Integrated marketing objective:

No doubt, Lyft Company improves its strategies to attract large number of customers and drivers. The company creates high awareness by rebuilding its marketing strategies in many cities. Lyft Company management is putting their high struggle to resolve connectivity issues, legal issues and many more things to attain sustainable advantages.

The company is working on feedback of customers to improve the strategies better and create value for them.Lyft target people who are educated. Thus, Lyft is building campaign to build trust among customers and drivers. Thus, by promoting best experiences of ride, Lyft will redirect its focus away from critical news which makes Lyft valuable.

Hence, the entire objective by Lyft Company is to create value for customer and driver. Also, the goal of a company to improve its transportation services by hiring educated, train and expert drivers.

Implementation plan of Lyft Company:

The implementation plan by Lyft Company is as follows to achieve its objective, goals, and objective.

Business Development Growth:

At Lyft, management is taking certain efficient step to develop their services and growth. Therefore, they implement business development plan for team. They make collaborative and nonhierarchical teams in order to generate favorable outcomes and results (John, 2018). So, they strengthen the department of business development by hiring educated and smart drivers for customers. In this plan, Lyft will be able to grow its business and services and win credibility.

Marketing development and implementation plan:

Lyft Company is working on marketing development sector to create and sustain customers and drivers. So, they are implementing culture of leadership in their management who create marketing strategy and works hard on it. Thus, Lyft Company is working on marketing development and implements effective strategies to achieve mission, vision, and smart goals.

Promotions and discounted Ride plan:

Lyft Company is working on enhancing their promotional packages to motivate customers. Also, they are giving handsome packages to their drivers upon completion of specific rides such as bonus and good fares. Thus, their management is working on promotional and discounted ride plan in order to retain customers and driers and make their company growth (Zimmer, 2018).

Customers and Driver feedback:

It is essential to work on customer feedback to achieve successful factor and growth of company. Lyft is working on a plan in their application, website about ratings, customer's feedback, customer feedback, driver details to make secure connection among people and communities.As a result, they will attain high rate of satisfaction from customers. Also, from bad rating and review, company will work to minimize threats and unsecure factors. So, Lyft is working on customer and drivers feedback plan in order to improve their management (Consumer Affair, 2018).

Human resource Development:

Lyft Company is working on plan in hiring, motivating, retaining, compensation, and recognizing employees of a company. Therefore, they are providing training to drivers to achieve to make company operation smooth. Also, they are hiring mature and professional drivers who provide value to end customer through its ride. Human Resource Department is also building a platform for quick actions on bad and critical complains by customers and driver.

Additional development and implementation plan by Lyft Company:

Lyft Company is modifying its performance process by eliminating pressure among management and employees. Also, Lyft Company is working on plan to translate and communicate all information among managers and drivers to generate favorable results. Also, in their plan, they are implementing retention in employees to create balance in their working as well as social life.

Conclusion:

It is concluded that Lyft Company should work on its weakness to improve problems they are facing. Lyft Company should analyze its external and internal capabilities to maximize customer satisfaction, credibility, and values. In this report, a complete situational analysis has been discussed which provides a framework to a company to strengthen their policies and procedures. At last, a proper implementation plan has been discussed which is mandatory to adopt to achieve vision, mission, and goal of a company.