SWOT Analysis Uber Help
SWOT analysis is a tool used for evaluation of a business. It is divides the business environment into two categories, which include macro and micro environment. The microenvironment include the strengths and weaknesses of a business. The microenvironment include the opportunities and threats of a business. In this article we will consider Uber business. Are you looking for help in getting Uber SWOT Analysis? We got you! CLICK TO ORDER!
Uber is business enterprise which provides services such as taxi services, delivery services, rides, and transport networks. Uber has its headquarters at San Francisco. Operations of Uber is in more than 700 cities around the world. The enterprise has been popular causing a greater influence in the transportation sector. It seems appropriate to evaluate Uber business using SWOT analysis.
SWOT Analysis Uber: Strengths
Convenience and effectiveness
It is convenient in such a way that one does not have to wait for a cab. They just have to use an Uber app and access an Uber cab/taxi from any location. It just arrives in few minutes after you have requested a ride from the Uber app. The app informs the customer the duration which they are going to wait. Electronic payments enhances effectiveness, whereby no tips are supposed to be handed to the driver. Details on the driver and type of vehicle are also included in the Uber platform.
It is a well-known brand
Uber business enterprise is popular in the world. Its growth and popularity is evident from its past financial records, which indicate a rise in the revenue from $7.5 billion in 2017 to $11.14 billion in 2020. The company has accommodated most of its customers’ needs, through diversification of services. Those who want taxi services, delivery, rides or any personalized transport services are well catered for by the company.
SWOT Analysis Uber: Weakness
It is the main issue with Uber. It is whereby Uber revises the pricing of their services depending on the demand and supply at that particular moment. Demand refers to the number of customers who want the service. Supply refers to the number of cars available. These prices can increase up to two times or three times the normal prices. The increment mostly occurs during peak times.
Use of automation
Uber uses automation in systems to make decisions on which driver should be sent, to address customer requests, and the amount of money that a trip can cost. The automated systems could sometimes be faulty by increasing the prices after identifying numerous calls in the systems. The situations causes a false peak time which increases the prices.
SWOT Analysis Uber: Opportunity
Reducing the time customer has to wait
Increasing the number of Uber drivers will reduce the waiting time. If the customer orders for a ride, they will not have to wait for long because the drivers are occupied. This translates to more customer satisfaction, increase in positive reviews and good brand image.
Uber can tap to this particular market of emergency services. It can provide rides for people under emergencies such as the hospital, taking children to school or even transporting the elderly.
SWOT Analysis Uber: Threats
There has been rise in other transport and private commuter service providers/competitors such as Lyft, Grabcar, Bolt among others. These companies reduce the prices of the services offered to attract customers. This will force the Uber Company to reduce the prices so as to retain its customers. Competition from emerging technologies such self-driving cars which are faster and efficient could cause decline in customers using Uber services.
Drivers getting low pay
Uber drivers get a very low profit margin. It discourages other drivers from enlisting with Uber Company. This has tainted the company image.
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