In order for a company to decide what marketing program will work, the company needs to have an understanding of how consumers make decisions. Consumers are quite unpredictable. So what might have worked yesterday or today may not work tomorrow. Therefore the marketers need to constantly improve their understanding of consumers and their behavior and form that adapt their marketing strategies to the changes in consumer behavior.
StratSim Simulation Assessment: Firm A Team Members: Timothy McKinney, Alesh Shah, Sami Belbase, Brian Muirhead, Kayleigh Ballantyne Initial Marketing Strategy 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.
Audience Persona CarMax is one of the largest new and previously owned automotive company in the United States. Being an automotive company they can target two large audience persona or also known as buyers persona. The first persona is either male or female ranging from 18-70 in age who wants a nice and affordable new/previously owned vehicle. Also, the audience wants to have a stress free experience while shopping for a car. When someone is looking or even thinking about getting a new car they do a fair amount of research. For instants best place to buy a car, research about the car they are interested in, or just get an idea on where to start when looking. It is not a simple choice for the audience to get a car, so they have an open persona to learn. Because they want to learn about the information of
Autozone, the top retailer in the United States has always based its strategy on DIY customers with cars over seven years old (Parnell, 2014). As technology has evolved, cars have become more difficult to work on, hence, a new target market of do-it-for-me is continuing to grow. Sales of 2.3 billion were reported for the second quarter of 2017, and the company cited higher supply chain and shrink costs (Landis, 2017).
Shiheng Pan AGEC 630 14 September 2015 Case Memo 01 Case Summary After six years of working in the electronics industry, Dr. Frank Wang came back to California and started Gemini Electronics. With a goal to reverse the domination TV brands in America to an American company, Gemini shortly achieved 35 percent of the market
The organization prides itself on being the first choice for DIY consumers. Making DIY consumers their target audiences as allowed AutoZone to grow to 4,400 retail auto parts stores within the United States and Puerto Rico and an additional 250 locations in Mexico (Parnell, 2014). While the organization is the industry leader, its competitors are also huge corporations and neither of them appear to be slowing down, this includes AutoZone. AutoZone has implemented an internal growth strategy that involves expanding and opening up to 200 more locations per year (Parnell, 2014). While AutoZone has acquired several companies and risen over its competitors, it is important that the organization remain focused on maintaining its #1 spot through internal growth
ShoreTel is already the leader in innovation and technology when it comes to providing its customers with the best and most simplified unified communication solutions. Now, they’re taking it a step further by getting ready to introduce to the world a brand new product later this month which will, without
Local Motors: Designed by the Crowd, Built by the Customer Case Study Analysis Table of conten Table of content 2 Introduction 3 Local Motor’s business model vs. “typical” models 3 The CANVAS model 3 Customer Segments 3 Value propositions 3 Channels 4 Customer Relationships 4 Revenue Streams 4 Key Resources 4 Key Activities 5 Key Partnerships 5 Cost Structure 5 Evaluation of the business model 5 Customer involvement according to NIKE 6 “LM template” in the clothing industry 7 References 8 Introduction The financial crisis starting in 2008
The New Beetle Question 1: Why was the current advertising campaign a success? In 1993 Volkswagen had record low sales but by the end of 1997 the VW brand had sold 137,885 cars. That was an increase of 178% from it’s 1993 slump. It is safe to say
Abstract The development of marketing concept from a Product orientation to a Sales orientation and finally a Marketing orientation has signified an important change in how we understand and conceptualizes marketing in the 21st century. It signified an increased focus in the behavior of consumers and how by applying different marketing
How it was The best way to improve sales and profits is to reach the selected target segments. That being said the marketing officers must make sure their advertisement reaches the customers who are most likely to purchase their products. Companies often develop customer profiles from feedback surveys or marketing research to gather these data records. Target customer variables or demographic factors can include age, gender, income level and education level.
2) There are significant differences between the traditional Porsche customer and Cayenne and Panamera customers. The traditional Porsche customer is interested in exclusivity, in having a niche car, different than others. The Cayenne and Panamera customers are also interested in the utility of the car. In other words, they are interested in the storage capacity of the car and in the power of its engine. There are also financial differences between these types of customers. The traditional Porsche buyers have greater financial power in comparison with other buyers. This means that the Cayenne and Panamera customers' purchasing decision process is also based on the price of the car. Therefore,
| Threats * Potential competitors * Substitute products * Enhancement in technology evolution * Consumer preferences * Changes in the market | ST Strategies: * Make innovations for being over the potential competitors. * Use their financial position for acquire new technology.
3.1 Option 1: Continue with existing 3-pronged strategy and expand operations within the Australian market to focus on hybrid/autonomous technologies The first strategic option proposed is to expand operations within the Australian Market to focus on hybrid and autonomous technologies in addition to the existing three pronged strategy. The goals of
In phase 2, the company faced the challenged of sustaining the hype around its new car and ensuring that potential customers actually purchase the Z3 when it is available. After reviewing the advantages and disadvantages of both marketing methods (traditional and non-traditional) and considering the success of phase 1, it is recommended for BMW to continues use the non-traditional approach and use minimum traditional strategies.