Final Marketing Plan

3

Vamshi Pratap Bokketi

New England College

Marketing Strategies

General Motors Marketing Mix

General Motors company is based in America and is multinational. The company deals with manufacturing, designing, marketing, and distributing vehicles. The company deals in automobiles and is one of the largest companies that deals with automobile manufacturing in the world. The company was incorporated in 2009 and has since then has undergone progressive and radical marketing changes in its products. The company has had changes dealing with the changes in technology and the meltdown of the economy. The company has invested in fuel vehicles but due to the change in fuel technology, it has changed its marketing strategies and majoring n vehicles with alternative fuel. The largest market of the company is in the United States. The main marketing problem of General Motors was that it was not able to appeal to prospective customers. (Bowman, D., & Gatignon, H. 2010). 

The products that the company was designing and manufacturing were the (SUV)s. These vehicles were very big and consumed a lot of fuel. They were too expensive for the customer to maintain. They were also slow to adapt to the marketing policy of the company. Other competitors company like Toyota were manufacturing vehicles that did not entirely depend on gasoline. Toyota was adjusting into a green company. The problem with the General motors was in their products. Their products did not meet their customer needs. This is a marketing problem that needs to be fixed. This marketing problem has resulted in the company losing a big market share in the industry of automobiles. The marketing plan to solve this problem is to study the market and learn the trends of what products the consumers want and design vehicles that will appeal to their customers and give them a competitive advantage over other companies in the automobile industry. With the change in fuel technology, General Motors need to manufacture vehicles that are environmentally friendly and have fuel alternatives.

In terms of promotion, General Motors is a recognized brand but should not relax on their promotion. The company should adjust its marketing strategy to communicate to their customers to buy their products. The company should produce products that appeal to their customers and then indulge in the massive promotion to attract more customers. This strategy will help the company get through the obstacle of financial difficulties. The company has not been performing at the level of the brand. This has made the company lose its competitive advantage. The competitors in the automobile are very aggressive in their marketing strategies, especially in their promotions. The customer loyalty of General Motors has been diminishing over time due to the company not communicating with their customers often and influencing them to purchase their products. The company also has not been advertising on various platforms before. The company lacks a good marketing strategy. The company has ost a lot of funds in advertisements with no tractions. A new strategy of marketing needs to be formulated to revive the image of the brand that has faded away. (Jargosch, R. E., & Jurich, J. 2014). 

To solve this problem, it is recommended that the company shift its focus from the larger markets to lower markets and continue progressing. They should introduce smaller vehicles that have less fuel consumption. The vehicles should not be very expensive, they should target the middle and lower class groups. The company is facing financial difficulties, by focusing on cheap products that have high market will increase the cash influx of the company and will also reduce and ease the tension that the company is having financially. In terms of pricing, the company has been selling its products at a very price. This only focused on the upper-class market which is not wide as compared to the middle and lower class. By reducing the prices of their vehicles, they will attract more customers. Small-sized and vehicles that don’t consume a lot of fuel will appeal to potential clients. The company can rebrand itself and promote and advertise its self as a company for the common people in the society. This will help create customer loyalty since the product that they would be producing would be adding and solving the problems of the commoner. The company is recommended to advertise mostly on radios and on the news channels to create taction of their products. With the advance in technology, social media is an effective way to advertise. This marketing plan will help the company overcome the problems that are facing. Cheaper products have a high market than expensive products. The advantage and opportunity of General Motors are that they have already established a brand name. All they need to do is to find a way to get into the market with a cheaper product that will appeal to and solve the problems of the customer. The designing and manufacturing of small and cheap vehicles will not require a lot of research and funds. They should focus on the markets which are medium vehicles that don’t consume a lot of fuel. ( Blokdyk, G. 2017). 

References

Blokdyk, G. (2017). Marketing mix modeling: Amazing projects from scratch. Createspace Independent Publishing Platform.

Bowman, D., & Gatignon, H. (2010). Market response and marketing mix models: Trends and research opportunities. Now Publishers.

Jargosch, R. E., & Jurich, J. (2014). General Motors Company (GM) patent landscape analysis – January 1, 1994 to December 31, 2013. IPGenix LLC.