AquaTred Goodyear Tyres: A Competitive Market Analysis

Word-of-mouth is the major factor to help people make decisions on buying high-involvement products (Gu, Park, & Konana 2012, p. 182).

These number will be used for predicting future financial statements later in this case study.

The motorcycle industry is growing annually and sales on CruiseThorr at Thorr Motorcycles are decreasing. This is largely due to its target customers, 35 to 50 yrs old, growing older and no longer being interested in the lifestyle that CruiserThorr symbolizes. Other factors include younger customers, in the age group of 21 to 35 yrs old, preferring low-cost motorcycles as they do not have large disposable incomes. Younger customers do not identify with CruiserThorr's lifestyle image and competitors are eating into CruiserThorr's market share. In order to reduce this trend, the following marketing

Marketing and Sales represents Ducati’s most significant growth opportunities because their brand management strategy advances the Ducati name into the consciousness of their markets. In addition to motorcycles, Ducati extends the brand by selling accessories and apparel. For sure, Ducati owners will buy these products but perhaps more importantly, the aspirational aspect of the brand drives people to buy Ducati-branded items even if they don’t own the bike. This behavior is seen with the Harley-Davidson brand: many people wear H-D clothing and

This quote shows how dedicated Goodyear was in creating a rubber that would remain undamaged by heat or cold weather. Charles Goodyear

For our initial strategy we wanted to choose a product line that would be most intriguing to customers in this poor economy. To initiate this we focused our products around better gas mileage, safety, and quality. In order to do this we needed to evaluate consumers’ needs and desires when making a high involvement purchase such as a car. We believe the best target market for this type of car would be a middle class family that does not have as much disposable income due to the recession in our economy.

The car buyers- and these were real customers spending their own money—had to choose, for instance, among four styles of gear shift knobs, thirteen kinds of wheel rims, twenty-five configurations of engine and gear boxes, and a palette of 56 colors for the interior. As they started picking features, at first the customers carefully weighed their options, but as decision fatigue set in, they would start settling for whatever the default option was. And the tougher the choices they encountered earlier in the process, like choosing from the palette of 56 colors, the quicker the people became fatigued and settled for the path of least resistance. By manipulating the order of the car buyer’s choices, the researchers found that the customers would end up settling for different kinds of options, and the average difference totaled a little more than 1,500 euros or about $2,000 at the time. Whether the customer paid a little extra for fancy wheel rims or a lot extra for a more powerful engine depended on when the choice was offered and how much willpower was left in the customer.

In this section, I will break down the common consumer in attempt to understand what sways him/her into purchasing certain goods—especially those that “they do not need” In addition, I will discuss how consumers determine a certain product to be “worth it”

In 1992, the Goodyear Tire and Rubber Company decided to reconsider the offer from Sears to sell Goodyear's Eagle brand tires. The reasons that Goodyear was contemplating this offer was that Sears was replacing worn out Goodyear tires at a large amount every year. The tires were not being replaced with Goodyear tires because the customers at Sears wanted to replace their tires with the best possible tires that Sears offered, and the Goodyear tires were not in the offering. The company's major options in this decision were whether to sell only the Eagle brand tires or all of the Goodyear tire brands.

In the end Goodyear tried to do too much and forgot their market and what made them so great in the first place. It is shown that in the ‘80s and early ‘90s Goodyear was in commanding lead of their competitors in the segment they were targeting. I believe that if they were going to launch the tire, then broadening their channels to a

Customers accustomed to a high standard to remain faithful to their favourite agency even when the price increases, because the well-known brand and the strong position in the market inspires

Goodyear tires have been around since 1898. They originated in Akron, Ohio. They not only manufacture vehicles tires, but it manufactures racing, trucking and aircraft fleet tires. They are a publicly traded company. Over the last 60 years they have managed to become multinational. They are in the Asia Pacific, Europe, Middle East and Africa, and Latin America. They also have a subsidiary in Mexico. Goodyear received the highest significant honor, they were was named the world’s most admired company in the motor vehicle part industry by Fortune magazine. Goodyear strives to make great products and give excellent service, so they can be the consumer’s ideal choice.

The topic of consumer knowledge focuses on a consumer’s understanding of their desires, ultimately shaping their attitudes and intentions towards purchasing. Experiences can help a consumer choose a better product and make their decision-making process easier. However, if a consumer is somewhat inexperienced in this area, they look to external sources for guidance, these are called group influences. This report will systematically discuss the consumer’s knowledge of an inert brand, as well as assessing the extent and nature of their knowledge. Additionally, the report will identify where personal and group influences have occurred throughout their decision-making process and what each type of influence is. Throughout the report strategies will be discussed for the inert brand to implement.

Customers can make different judgements as regards a brand. Customers put together imagery and the different brand performance to make the judgement (Lane Keller, 2011).

According to Aaker (1991), “brand equity is the set of brand assets and liabilities that is linked to a brand, its name, and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firms customers”. Some academics have given the components of brand equity. It consists of “perceived quality, brand associations, brand awareness and brand loyalty “(Aaker, 1991; Baldauf et al., 2003; Keller, 1993; Selase Asamoah, 2014), and this is the first version of components of it; regarding it as the “consumer 's behavior” toward a make, Keller (1993) proposes two elements: “brand awareness and brand knowledge”; Kim et al.(2008) argue that strong brand equity boosts “consumer satisfaction, repurchasing intent, and degree of loyalty”. Thus, past