Marketing - Hybrid Cars

4431 Words18 Pages
Introduction
Team A presents our comprehensive assignment, this paper encompasses a variety of factors related to ECO-Specialties, a leasing firm that specializes in hybrid and alternative fuel vehicles We will examine the following area in this paper:
a. Identify product/service
b. Market research
c. Market SWOTT analysis
d. Marketing mix (4 P 's)
e. Implementation of the marketing plan
f. Monitor marketing plan
g. Control and adjust
h. Critique and make recommendations of the marketing plan

The team will demonstrate that the popularity of these vehicles present a strong opportunity for a leasing company such as ECO-Specialties to enter the market.
Identify product/service
…show more content…
Hybrid owners:
· Tend to have a higher income than the average car buyer.
· Are more likely to be female.
· Are a few years older than the average car buyer, closer to 50 rather than the average age of 40.
· Drive fewer miles on average
· Plan to keep vehicle longer than average person
· Are willing to pay more for an environmentally friendly product.
· Expect fuel prices to increase.
Reference: hybridcars.com Additionally, ECO-Specialties acquired a regional breakdown of hybrid vehicle sales. Vehicle registration information is provided for the top five selling states in 2004 and is as follows:
· California – 25,021 registrations
· Virginia – 5,613 registrations
· Washington – 3441 registrations
· Florida – 3,272 registrations
· Maryland – 3,238 registrations
Reference: hybridcars.com

Market SWOTT Analysis
Strengths
New to the market are different varieties of hybrid cars, which serve the same purposes, saving money on gas and reduce emissions. Besides the dual power sources, hybrids are more economical because they are lighter and more aerodynamic than many other cars. Additionally, the hybrid 's tires create half the drag of regular cars because they are stiffer and inflated to a higher pressure" (Nice, 2005). Hybrid gasoline engines are much smaller than those on regular cars. "A hybrid car engine is built small to accommodate 99% of driving time when a car is not going up hills or
Get Access