Question 1: Shortly account for target groups for a Suzuki Splash, a Ford Mondeo and a Bugatti Veyron.
Target groups differ from product to product because buyers differ in their wants, resources, locations and buying attitudes. If you where to compare e.g. a Suzuki Splash, a Ford Mondeo and a Bugatti Veyron, you would find three completely different target groups especially look-ing at demographics, behavior and even geographic can play a role.
Take for example the Suzuki Splash, which is a little city car with spaciousness to a fair price (Splash). The car has quite a large target market, but the buyers tend to be young couples or young families, who lives in or around large cities. City people often tend to want a smaller car, which is easy to drive and park and fits in crowded cities, like Copenhagen, Stockholm and even Tokyo (Best small cars). As mentioned the car tend to be for young people, particu-larly girls. Young people usually live in the city or near the city because they are at university and they do not tend to have the biggest income, therefore they often look for a cheap car and not a car that guzzles gas. Girls also tend to buy Suzuki as they normally “just” want a car and do not care for car brands as much as boys do, yet those who buys a Splash whether boy or girl are not crazy fixed on a spectacularly brand.
The Bugatti Veyron target group is dramatically different. The Danes do not even qualify to be part of Bugatti's target group. The car is a sports car that was formerly the world's fastest street car and the "regular" Bugatti Veyron cost about DKK 15 million - without taxes (Hen-riksen). Here we see multibillionaires and car collectors as the main customer. They usually live in the middle east – Duba...
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...car the Mondeo offers the customers with safety, and a feeling of protection; if the car breaks down you are not alone. That is really nice especially if you have kids. You also drive around in a nice car that is comfortable and will help you on the long trips to work. You get design when you drive a Ford and you may even help design it. Because some years ago Ford launched “Your Ideas” that encourage people to make sugges-tions for improvement in all areas of comfort, convenience, connectivity, performance and safety. So you may be the curse that Ford added iPod USB connection. Due to “Your Ideas” Ford now has the highest customer satisfaction rating among all major automakers.
To extend its value proposition beyond the original sale, Ford has also created a virtual community (ownerconnection.com) where owners can meet and talk about their cars incl. the Mondeo.
Ask any ten enthusiasts what two cars epitomize the concept of an automotive rivalry and at least nine of them will instantly conclude the Chevrolet or Chevy Camaro and the Ford Mustang, two cars that make up part of a small automotive segment known as Pony Cars. These fire-breathing leviathans of the street snarl with guttural reverberations boastfully announcing their presence with the mere turn of key. For nearly five decades, these mechanical beasts have captured the imagination of the American driver and ignited the most contentious debate in automotive history: Which car reigns supreme? Muscle car buffs waste no time quoting sales figures, vehicle performance, track times, or even mundane statistics like vehicle dimensions or available colors to simply justify their support for one model over the other. As this debate rages on, the makers of these brutes fan the flames through targeted marketing strategies, consumer promotions, pricing strategies, and creative advertising all in effort to win an automotive war the likes of which have never been seen or fought before (Davenport, 2013).
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.
The issue of whether customers should buy FWD and RWD cars is complex and controversial. Different people hold different ideas due to their drive experience and consumers attitudes. On one hand, lots of people believe that only RWD cars represent Luxury and high-performance. On the other hand, the car made on FWD are much cheaper and popular. However, most of customers are blind and ignorant on it. Many of them don’t even know the automobile layout of their sedan after use it for decades.
Many factors should be addressed when defining a target market. These factors include market segmentation, product life cycle, and the four "P's" that make the marketing mix. Market segmentation is the process of dividing a total market into market groups consisting of people who have relatively similar product wants and needs. There are four major segmentation variables: geographic, demographic, psychographic, and behavioral. Geographic segmentation includes world region, country region, city, density, or climate. Demographic segmentation can consist of age, gender, income, occupation, education, race, religion, or nationality. Social class, lifestyle, and personality fall into the psychographic segment. The behavioral segment divides buyers into groups based on their knowledge, attitudes, uses, or responses to a product (Bethel, 2007). Once the market segment is identified, that market can be targeted.
The automotive industry is one of the most important sectors of the economy for every country in the world. It involves a large number of corporations and institutions engaged in the manufacturing process of motor vehicles including designing, developing, manufacturing, marketing, and selling. It contributes to the global economic growth by generating a significant return and creating a ripple effect on supporting the supply chain as well as providing job opportunities for the skilled workers (ACEA, 2016).
Automobiles symbolize the good and bad, people often look at the make of the car. It represents what, and who you are. Driving a Hyundai people will assume you aren't wealthy rather it means you are rather on a budget in comparison when you see someone drive a Range Rover you think of the person as being wealthy. For example, there is a video on YouTube where these guys rent Ferraris in Las Vegas. To show those women want guys for...
Once a business has successfully completed segmentation based on the market into various groups the targets will be chosen. As we all know no one unique strategy will be able to appeal to all consumer segments therefore being able to come up with different strategies for specific targets are a vital aspect of marketing.
In this society the cars aren’t just a luxury item. It has become necessity. For example people need to have a car to get around or used for jobs. And to some people it’s even a house to live in.
Ford Motor Company current mission statement is “committed to provide personal mobility for people around the world”. With that in mind their vision is to become the world’s leading Consumer Company for automotive products and services. By improving everything they do, the company provide superior returns to their shareholders (Vision, Mission, Values).
One of the very first things a buyer should consider when looking for a car is what kind of car he/she wants. Many different factors can affect the car buying process. For one, the buyer must consider how big of a vehicle he/she wants and safety features like airbags, seatbelts, and working brakes. Itemizing a list of accessories can also help narrow down what kind of car to buy. While some people might prefer a Sedan with a large back seat and seat warmers, others may prefer an extreme luxury car with full stereo systems and miniature televisions. Every person has different tastes in accessories; luckily, there is a vehicle that can fit almost every personality. Most new models have the latest technology installed, although some of the “newer” used cars have the option of adding in those accessories. Once the...
A vehicle is one of the biggest purchases a person will ever make. Over the years, the prices of an automobile have increased due to the rise of inflation. Due to a price index, the price of an automobile changes over a certain period of time. Economists compare averages of automobiles to calculate the cost of each vehicle that presents itself on a car lot. When all of the above is calculated within the purchase of an automobile, it affects every area of making the automobile to selling the automobile. All of these factors are impacted together for the automobile industry as a whole.
Toyota’s uses both differentiation and low cost as generic strategies to try and gain a competitive advantage over their competitors in the automotive industry. The market scope that Toyota uses is a broad one that encompasses nearly every type of customer that is in the market to purchase an automobile. Toyota is able to target such a large market because they have something for everyone. Toyota has four wheel drive trucks and SUVs for the outdoor types or those who live in areas that face severe weather conditions, hybrid models like the Prius for the eco-friendly customers that are interested in saving the environment, along with the standard cars for general, everyday use. Additionally, Toyota provides vehicles for all price ranges.
In this case, why consumer chose Porsche among so many other brands? Porsche buyers not only treat their car as a transportation which convenient them, they also subsequently set criterion on their car while other car buyers evaluate alternatives based on specification which satisfy practical needs. For instance, saving petrol, eco-friendly, maintenance costs and others. To the buyers who want to purchase Porsche, they takes a gander at different thing such as the sound produced by the car, the speed, design, horse power and so on. They felt that car is something for them to be enjoyed and to be delighted with. The potential customer will look for options from other brands or different types or Porsche cars that are compatible to suit their taste, desires or
The buyers have a low switching cost if they are not happy and the buyers are not large and few in numbers ,therefore all companies focus in their advertisement to satisfy the targeted customer and giving the best offers through their dealership
Schmidt, J. (2010, September 29). Strategy and targets of mercedes-benz cars sales and marketing. Retrieved from http://www.daimler.com/Projects/c2c/channel/documents/1931898_Daimler_UBS_Paris_DJSchmidt_Handout.pdf