Part C: Your Marketing Plan
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mkt500.docxRunning head: ASSIGNMENT 2 MARKETING PLAN 1
ASSIGNMENT 2 MARKETING PLAN 2
Assignment 2 Marketing Plan
Assignment 2 Marketing Plan
Branding strategy
Every business focuses on meeting its set goals and objectives as a means of realizing organizational success. Branding strategy helps the organization to develop its long-term goals on how to improve its brand performance. The targeted customers are looking for a brand that does not only satisfy all that they would need in a motor vehicle but also one that they can create a connection. As such, the company is focused on the implementation of its marketing efforts aimed at promoting the brand among the existing as well as the potential customers.
The name Millz is not unique but also intrigues the customers to want to know more about the company. The company understands that the majority of the targeted audience is already aware of the various motor companies with various car models. Therefore, the name Millz is new, and as such, the customers will be interested in having a taste of what the company offers as explained in the marketing campaign.
The company has invested in a logo that reflects its mission, vision as well as organization values which relate to the manner in which the business interacts with its customers. The motor industry is dominated by major players who have strong brand names and logos, and as such, it is necessary for the company to be able to stand out among such competitors. Therefore, the logo of the company is also unique, and as such, it cannot be confused with any of the already existing logos from the competitors, (Rubenstein, 2014).
The company slogan is “You ride to the future” which resonates with the commitment of the company to offer the most effective and efficient motor vehicles with all the necessary technology needed by the targeted customers. Last but not least, the branding extension of the company will greatly utilize the success of the most selling brand to gain new customer base with different needs.
Marketing strategy
The marketing strategy of the company is aimed at meeting the marketing needs of the firm to meet the goals of the company as a whole. The motor industry is a very competitive industry because the existing players have been in the industry for a prolonged time and as such, they have been able to grow and develop strong brands. The company also boasts of skilled personnel that works hard to bring out the best products to the customers. As such, the targeted customers have to be informed of the efforts as well as the skills and experience of the employees. The move will see to it that the customers appreciate the brand and as such, they will be more willing to have the experience of the vehicles produced by these employees, (Rubenstein, 2014).
The company targeted the middle and higher classes’ customers who have been found to be active users of the internet. As such, the internet will provide an effective platform for the company to reach out to its targeted audience and appeal to them to purchase the products offered by the company. The timing of the marketing company will greatly determine its success. As such, the commercials and advertisements for the company will be run on the social media platforms for a maximum of three months. This will see to it that the company reaches out to as many of the targeted customers are possible. After that, the company will then engage in various activities such as sponsoring social and sports events to strengthen the marketing message that the customers are already aware of.
Positioning statement
The figure shows that Millz motors offer vehicles that are of higher performance, safe and functional which makes it the best option among the other competitors in the market.
Customer behavior
The targeted market includes the middle as well as high-class consumers of motor vehicles. One thing about this group of individuals is they want value for their money, and as such, they have to be impressed with what the company is offering for them to consider buying the vehicles produced my Millz Motors. Also, these are individuals who are well conversant with the current trends in technology, and as such, they will be interested in products that incorporate not only the relevant but also the latest technology that meets their ever-increasing needs, , (Plunkett, 2007).
When brand name, logo, slogan, and marketing strategy of the company are right for the targeted market because they have all been developed base on one of the most important aspects to the targeted customers, reliability. The customers can rely on the vehicles to give them the best performance because of the use of the latest and relevant technology in the vehicles. The fact that the brand is well known to the base customer for its remarkable performance and features also makes the company products attractive to the existing as well as new customers who are looking to improve their overall experience with motor vehicles, (Plunkett, 2007). With the marketing mentioned above strategy, the company can reach out to as many of the targeted audience as possible and thus pass the intended message regarding the brand, logo, slogan as well as the brand extension.
The mission of the business is “To develop the most trusted vehicle brands in the world market by meeting customer needs through innovation and creativity.” Millz Motor Company is an automobile manufacturer from Sweden with its headquarters in Richmond, Melbourne and was founded in 1968. Over the years, the firm has been able to grow and develop from a small business that was only making vehicles for the immediate local customers to a global business that focuses on the design and production of the automobiles for the global market. To success in the competitive global market, the company has partnered with other companies from the United States Europe as well as Asia to come up with customer-centered vehicles that function in the manner in which they have been designed and developed to function.
References
Conference on Total Vehicle Technology, Stobart, R., Institution of Mechanical Engineers. & IMechE Automobile Division Southern Centre Conference on Total Vehicle Technology. (2002). Proceedings of the 2nd IMechE Automobile Division Southern Centre Conference on Total Vehicle Technology - How Do We Get the Innovation Back Into Vehicle Design? ; 11-12th November 2002, University of Sussex, Brighton, UK. Bury St. Edmunds [u.a.: Professional Engineering Publ.
Plunkett, J. W. (2007). Plunkett's Automobile Industry Almanac 2008: Automobile, Truck and Specialty Vehicle Industry Market Research, Statistics, Trends & Leading Companies. Plunkett Research Ltd.
Rubenstein, J. M. (2014). Profile of the Automobile and Motor Vehicle Industry: Innovation, Transformation, Globalization. Business Expert Press.
Brand
Environmental Friendly High Performance Market share
Safety Functional
(1-5)(1-5)
%
Toyota 2230
chevlotet 435
Hyundai 3310
Millz 2.5315
Ford 3425
Nissan 4215
Toyota , 2chevlotet , 33Millz , 3Ford , 4Nissan , 2Perceptual MapEnvironmental Friendly Safety High Performance Functional
Sheet1
| Brand | Environmental Friendly | High Performance | Market share | |||
| Safety | Functional | |||||
| (1-5) | (1-5) | % | ||||
| Toyota | 2 | 2 | 30 | |||
| chevlotet | 4 | 3 | 5 | |||
| Hyundai | 3 | 3 | 10 | |||
| Millz | 2.5 | 3 | 15 | |||
| Ford | 3 | 4 | 25 | |||
| Nissan | 4 | 2 | 15 |
Perceptual Map
Toyota
2 2 30 chevlotet
4 3 5 Hyundai
3 3 10 Millz
2.5 3 15 Ford
3 4 25 Nissan
4 2 15
