chevrolet brand extension to chevy bank

Group Assignment - MRKT 620

Andrego Oliveira

Vamshee J. Dangeti

Saiteja Emani

Niharika Komath

Samskruthi Dosapati

Yanzhou Liu

Brand Inventory

Logo - Bowtie Emblem

Slogan Find new roads;

The Heartbeat of America;

May the Best Car Win;

Chevy Runs Deep;

Excellence for Everyone;

Chevrolet, is the Car

Typography What's the font used for Chevrolet logo?

● Chevrolet uses a customized version of Klavika.

● The condensed fonts were designed by Process Type Foundry LLC with Aaron Carámbula for General Motors marketer FutureBrand as part of re-design of Chevrolet in 2006.

● After the expiry of the exclusivity period, the commercial version of the font (Klavika Condensed) was released to the public in the fall of 2008

Photography

Chevrolet tends to use grey, cool-toned photos, which are consistent with their main-tone: Chevy grey.

Color

Blue Chevy Grey

Pricing of Chevrolet Chevrolet is one of the brands, which since its start is known for the high and efficient

quality of products with the pocket suiting prices. The prices are subjective to the types

of the products. The prices of Chevrolet products are fixed keeping in mind the worth

of product. The distinct characteristic of Chevrolet price policy is the mid – stature

pricing with reliable services. Keeping in mind the needs of customers Chevrolet

promises the guaranteed low maintenance cost post purchase for 3 years from the date

of invoice.

Suiting to every budget Chevrolet has car ranging from 3.5 Lakh to 18 Lakh. So, one

company adapts to the needs of all the types of customers.

Distribution strategy in the Marketing strategy of Chevrolet

Chevrolet uses multi-level distribution strategies to make its offerings available to the

end customers. Channels such as company-owned showrooms, dealerships, DSA

(direct selling agents), authorized service centres, resellers, and the e-commerce sites

are helping the company in making the products available to the end customers.

Main competitors of Chevrolet ● Ford, a company founded by Henry ford and based in America ● Honda, Japanese based Conglomerate ● Skoda, a Czech automobile manufacturer unit, founded by Laurin and Klement ● Toyota, a Japanese automobile unit headquartered at Toyota ● Fiat is a subsidiary company of FCA headquartered in Italy

Target market ● Chevy is the oldest highest sold vehicle in America which targets most of the

middle class customers.

● It depicts itself as a family-oriented vehicle yet it claims portray freewheeling spirit in America.

● Calling itself all American brand, it targets people from different parts of the country.

● It has featured many aspects in its vehicle ranging from small muscular trucks to fuel-efficient SUVs.

Brand personality

● Chevy’s brand personality is unique because of its power and long-time working. Its engine has that power which makes it durable.

● It is authentic because of credible heritage in the country. It is part of American history as well as industrial revolution.

● It is talkable being American icon. In 1910’s, it was known to have a powerful engine and now its talkability has shifted in classic revolutionary way.

Strength of Chevrolet 1. Chevrolet has strong research and development in the automobile segment

2. Efficient human resource management as it has over 300,000 employees globally

3. Chevrolet is present in 6 continents and has a prominent presence in countries like

USA, Canada, China, India, Japan, Middle East, Europe, Australia etc

4. Has a huge variety of models ranging from hatchbacks to SUV’s

5. Chevrolet is actively present in international racing competitions like NASCAR

6. Chevrolet caters to more than 140 countries and sells over 4 million vehicles

Weakness of Chevrolet 1.Chevrolet brand was severely affected by bankruptcy of General Motors.

2.Intense competition from international brands like Honda & Toyota who excel in

product quality, price, branding and even servicing.

3.One of the most important departments that GM group of companies is struggling

with now days is advertising resulting into low visibility across the various mediums as

compared to competitors.

Brand Exploratory

Brand Positioning Segment

Complete automobile segment including hatchbacks, sedans & SUV’s

Target Group

Young executives from the upper-middle income bracket

Products

Automobiles, commercial vehicles, trucks

Services

Vehicle financing, vehicle insurance, vehicle repairs, vehicle sales, vehicle maintenance

Financial Info Chevrolet’s Top 5 Best-Selling Vehicles of 2018

1. Silverado 585,581

2. Equinox 332,618

3. Traverse 146,534

4. Malibu 144,542

5. Cruze 142,617

Chevrolet ranked 63rd in the Forbes World's Most Valuable Brands 2019, with a brand value of $ 10.3 billion and sales of $ 80.6 billion. Chevy represents half of GM's total global volume. The U.S. is the leading market with more than two million vehicles sold annually.

Perceptual Map 1

Perceptual Map 2

Score-Card Survey Results According to the quantitative survey, we obtained diversified results.

● Memorability and Meaningfulness scored highest among all, as Chevy is a popular brand.

● Adaptability and Likability are reasonable as they captivate middle class from different age groups.

● Transferability is soaring and protectability is sunken due to cut-throat competition.

Brand Extension Survey

• 34 people have participated in the survey between age group of 18-40 years. out of which 64% are Males, 32.4% are female and 2.1% of people preferred not to reveal gender.

● which brand do you own now or in future? ● Do you or have you owned a Chevrolet car?

Survey Results

Survey Results ● The first image that pop up on your mind

when you think about Chevrolet cars?

● What Type of vehicle do you prefer?

Survey Results ● Your opinion about Chevrolet in one word? ● How likely would you buy or lease a new

Chevrolet?

Survey Results ● Do you think closest a middle-income

person can get a Chevrolet car?

● How likely would you recommend Chevrolet cars?

Brand Extension

Fintech - Retail Banking - Financial Services

Chevy Bank Chevy Bank is a fintech, operating in a direct banking business model without traditional branches, offering its financial services online on a exclusive app.

● No-fee checking and savings account ● No-fee credit cards ● Car loans ● Insurance (car, life, property) ● Investment funds and certificates

Car Sharing - Car Rental

Chevy Car Sharing Chevy car sharing is a fintech providing car sharing and car rental services to individual customers. Services are provided online on the app.

● Car sharing ● Car rental