Aston Martin in Turkey

3079 WordsJan 10, 201613 Pages
1. Introduction In recent decades, Aston Martin has developed to be an iconic marque symbolized with luxury and elegance since 1913 (Aston Martin, 2015). However, Aston Martin has slowed down the market demand in Europe and North America (KPMG, 2013: 12). Nevertheless, Aston Martin plans to do an investment to expand the global market (Tift, 2015), Meanwhile, because Turkey is the fastest rising country for luxury cars, it seems advisable to target Turkey as a potential developing market (Porturkey, 2013). This report will attempt to evaluate the expansion of Aston Martin in Turkey with macro PESTLE analysis, followed by SWOT analysis, a market entry strategy and concluding recommendation for future marketing strategies based on the…show more content…
Therefore, it could pose a significant threat to Turkey’s social stability. Overall, Turkey’s stable policy is full of opportunities and challenges for Aston Martin to enter the Turkish market. 2.2. Economic Turkey is the 18th largest economy body in the world, the 6th largest economy entity in Europe, GDP with $786 billion, GNI per capita with $10, 970, which belong Upper middle income country (World Bank, 2013). Service industry contributed approximately 64.9% for GDP, the industrial sector just over a quarter, agriculture was about 8.2% (CIA, 2014). Moreover, Turkey has a sustainable and steady growth after structural reforms and macroeconomic stabilization since 2001, Turkish economy is becoming diversified and export-oriented due to the large inflow of FDI (ibid). GDP is expected to grow by about 5% over the next five years, single-digit inflation rate will continue to decline (Invest in Turkey, 2014: 24). However, Turkey relies heavily on capital inflows as one of the factors limiting the Turkish economy, even though Turkey has strong domestic consumption. Turkey’s key industries are hospitality and tourism industry, a growing number of factories is invested by multinational companies in Turkey (Abylkassymova 2011:13), automotive production probably surpass tourism and is becoming the largest cluster in Turkey (ibid:13). In addition, there are

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