1. Please analyse the strategy of Lit Motors in December 2012. Lit Motors overview and product mix Strategy Lit Motors is an innovative automotive company working on launching two ground-breaking products. The first one, an enclosed two wheeled, electric-powered daily vehicle that can support two passenger. The second one is a lightweight electric-powered cargo scooter. Lit motors is working on developing the two product in parallel. However the C1 is the flagship product. (Many parts of the analysis below are focused on the flagship Product C1) Lit Motors Business Plan • Who In terms of customer segments, Lit motors targeted two main segments: motorcycle enthusiasts known as Generation Jones and young urban professionals. Generation jones are considered to be a segment of older men with an annual income over $100,000, already owned a cycle, or had one in the past and also had a motorcycle license. As they got older they start caring more and more about safety and protection. A second need of this segment is the possibility to commute daily in a suit rather than in leather clothes. Hence, the C1 is an attractive product for them because it’s presenting a solution for their two major needs. Young urban professionals segment is considered to be men or women professionals aged 25-35 with an annual income over $70,000 who were looking for an alternative way to commute and park in busy and large cities. In terms of geographic regions Lit motors planned to start with the US market and to tap the international market after that. The first overseas market will be a very selective European countries, including the UK, Germany and the Netherlands. In fact the city streets in those markets are often narrow and congested. Finding a p... ... middle of paper ... ...g the cargo could be launched. …should react to the battery technology limitation… Lit Motors should learn from all the failures and success stories of the electric cars industry. Hence, it should understand that the battery technology is the one of the most difficult challenges to handle and hence need to design its product in a way that it will adapt easily any new battery technology that will emerge as the best one. … and put the reliability on the top of its priories. Lit Motors should aim a 0% bug strategy in their software. Customs could accept that an Iphone or a laptop crash but not their vehicle. Lit motors should concentrate on testing their vehicle intensively under very stressful situations. The market will not give them any marge of error. Thus they need to wait until the product is 100% ready before launching it commercially in the market.
Allstate insurance is the second largest property and casualty insurance company by premiums in the United States. Allstate insurance handles about 12% of the U.S home and auto insurance market. (Allstate, 2014). Many of Allstate’s customers fall under what one could refer to as a traditional selection of insurance for automobiles. Recently, Allstate has noticed a major shortcoming in lifestyle insurance, which includes coverage for motorcycles, boats, and other recreational vehicles, in comparison to its competitors. The motorcycle insurance sector is a 10.4 billion dollar industry and growing (PRWEB, 2012). The U.S. Department of Transportation website reports some astounding figures, including that 5,370,035 motorcycles were registered three years before the article, 7,138,476 motorcycles registered at the time of the article, and grew to 9,477,243 registered motorcycles at the end of 2012 (NHTSA, 2013). It is obvious as to why Allstate would identify motorcycle insurance as a worthy lifestyle product to devote marketing research dollars into in order to develop new strategies for cornering a share of the market.
The Automotive, or electric car industry particularly, comprises all those companies and activities involved in the manufacture of electric motor vehicles (EV), including most components, such as engines, bodies and rechargeable batteries or another energy storage device. The industry’s principal products are passenger automobiles. Despite the fact that the first electric cars were produced in 1880s , the advances in internal combustion engines, especially the electric starter, soon diminished the relative advantages of the electric car and became the dominant design in the market. Due to this the EV was almost a forgotten industry staying in the early stage of development, conforming to less than 1% of the automotive stock
The world of technology is ever changing and advancing. With the automotive industry in play technology is constantly surpassing what is available today with what can be done for tomorrow. Technology and the automotive industry go hand in hand with constant improvement to components of cars. Due to technology advancement there is competition within the car industry, especially between American car companies and European car companies. European car companies provide their buyers with innovative variety and revolutionary luxuries. European car technology is superior to American car technology due to their safety, entertainment, and luxury features.
During the 1970's, HD was facing a decline in market share due to increased competition with Japanese companies. By phasing out weak models, becoming more selective, and limiting sales and promotions, HD was able to carve out a niche in the marketplace which it enjoys today. Now again faced with a period of decline, HD is relying on its newly adopted marketing objectives. First, HD needs to expand its potential customer base to include enthusiasts and non-enthusiasts young males, and females into buying HD motorcycles over any other competitor. This thought is accomplished through the introduction of the VRSC’S, and the lower and narrow Sportsters, Dyna’s, Softail’s and positioning them in the market to a younger demographic. Secondly, HD needs to position the VRSC’S, Sporster, Dyna and Softail to also appeal to first time buyers of motorcycles. HD's strong brand identity can help pull in new clients.
The idea of the hybrid electric vehicle (HEV) has been around for longer than a decade, as many people may not have originally thought. In fact, hybrid vehicles have been in development for the past century. The combination of an electric motor and a gasoline engine has been stirring in the minds of scientists and inventors alike for many years. Hybrid cars have surpassed many feats as it's progressed through the years, such as increased gas mileage and reducing the pollutants that regular internal combustion engines expel. While the hybrid car is in high demand at the present time, some people believe these cars are just a quick resolution before bigger and better ideas, such as fuel cell vehicles, begin taking over the automobile industry. Still, the development of the hybrid car has had many effects on today's society and may continue to in the future.
...rther then the end of 2010, the introduction of the electric car is not far to come. With proper government regulations and consumer knowledge, adoptability of the electric car is possible. However, one can drastically differ in opinion as to why the required elements to support such a vehicle were not readily planned to facilitate such a change. The inadequacies draw wavering concerns for both consumers and business looking for the return of value and profit. The larger picture needs to be remembered in which oil is not a renewable resource and results in pollution and environmental hazard. Consumers and business must work together to overcome the roadblocks down the road and support each other in the introduction of and future of the electric car. Adjustments will have to be made on both sides to ensure success and minimize the society and economy disruptions.
“What we need to do is really improve energy efficiency standards, develop in full scale renewable and alternative energy and use the one resource we have in abundance, our creativity.” (Lois Capps) There are many ways we can utilize our abundance of creativity. Some have yet to be discovered, but some are being sought out today. One of these is the rise of the electric car. Despite a rough start competing with petroleum cars, electric cars will see a spark in popularity in the automotive market within the next few years with new models being developed and more charge stations being installed world wide. With more efficient ways of harvesting energy, the electric car will see more practical use and make its way into the lives of the average
In the future the global car market is full of potential. There are currently 44 million vehicles and by the year 2002 experts estimate that number will grow to 64 million. That growth is not expected to be in the US, rather in countries such as: China, India, The Pacific Rim, South Africa, and South America. In America, a current trend is for the neighborhood car dealer to be purchased by a large manufacturer, such as GM, so cars can be sold through retail outlets. Other future endeavors include low emission cars, which are expected to provide expansions in sales. Some major automakers are investing in fuel cells, devices that convert liquid hydrogen into elec...
...t of the electric car for the economic and practical benefits that would reinvigorate the country and make life easier for everyone. Upon revisiting the original question to this essay, the electric car is a worthy solution to our energy crisis and proves to be an economically responsible car. Its long-term cost savings outweighs easily improved flaws. However, in order to better understand the work done by scientists, research must be done specifically on the predecessors to the electric car and determine how those have stood the test of time. This will be done in order to help predict how the electric car will survive in the world. The future may always have a hint of uncertainty, but if scientists, governments, and drivers implement the new car with care, the goal of a smooth transition from fossil fuels to renewable energy sources can finally be achieved.
Ford’s production plants rely on very high-tech computers and automated assembly. It takes a significant financial investment and time to reconfigure a production plant after a vehicle model is setup for assembly. Ford has made this mistake in the past and surprisingly hasn’t learned the valuable lesson as evidence from the hybrid revolution their missing out on today. Between 1927 and 1928, Ford set in motion their “1928 Plan” of establishing worldwide operations. Unfortunately, the strategic plan didn’t account for economic factors in Europe driving the demand for smaller vehicles. Henry Ford established plants in Europe for the larger North American model A. Their market share in 1929 was 5.7% in England and 7.2% in France (Dassbach, 1988). Economic changes can wreak havoc on a corporation’s bottom line and profitability as well as their brand.
Harley-Davidson has survived through many decades and is an American business icon. Rivals have often successfully imitated motorcycles , but never duplicating them. It is often seen as those who are experiencing a "mid life crisis", are a part of a motorcycle gang, or an investment bankers that are attracted to these particular motorcycles. It is believed that Harley-Davidson is successfully selling the freedom within the American Dream through their motorcycles.
Women are seen as still being relatively new in the Harley Davidson world and they are working hard to cultivate these relationship. A common theme is that women are not taken seriously when it comes to the topic of motorcycles. Leslie Prevish, who previously worked for Harley Davidson, is a big promoter of women ridders and created the “garage party” to market to women (Zube, 2013). Harley Davidson understands the needs of women and is therefore marketing deeper to reach these needs and build loyalty with
Bellis, M. History of Electric Vehicles: Decline and Rise of Electric Cars from 1930 to 1990. (n.d.). Retrieved March 31, 2012, from http://inventors.about.com/od/estartinventions/a/Electric-Vehicles.htm
Since then, Motor Companies have made numerous types of vehicles to fit your driving style the best including SUVs, trucks, compact cars, luxurious cars, and sedans etc. Even countries across the globe have have joined the competition such as Toyota, Nissan, and other european c...
An electric vehicle is different from a gasoline powered vehicle. It is powered instead by an electric motor that receives current from rechargeable storage batteries, or portable sources of electrical energy.