Positioning statement/ marketing objectives - Essay Example

POSITIONING MENT/ MARKETING OBJECTIVES The concept of iCar is a next generation autonomous car. This car has special features and the most special and important feature is that drivers can choose between self-driving and manual driving. iCar is completely powered by electricity and the dashboard of the car has only a touch screen tablet. This tablet will have all the important elements that are present in a car. The company manufacturing this iCar, manufactures both; tablets as well as cars. Therefore the company has decided to introduce a new product by combining the positives of both.

iCar is a special product and it will not be for everyone. The product will be classified as a luxury product and the company aims to position the product only for the upper-class income group segment in the market. iCar will have GPS installed already and maps of different countries such as United States of America, Canada, Mexico, and other adjoining countries will already be available without any additional cost. The company currently aims to introduce the product in Canada and USA and then it aims to expand it to other parts of the world.

The position statement of the company is as below:For upper class group that needs automatic, electrically powered car, iCar is a new product in the automobile industry with a tablet screen and can be driven automatically or manually and there is no product like iCar in the market introduced before.The company has aimed to keep the price high in order to charge premium for such an exclusive product. Exclusive and luxury products attract the upper class audience and it helps the company in gaining higher profits on each product (Kotler Armstrong, Wong, and Saunders, 2008).

The company aims to differentiate its product from competitors by offering the option and features of driverless car as well as electric car. As there is no such product prevailing in the market, thus it will help the company to take the first mover advantage. ReferenceKotler P., Armstrong, G.,Wong, V. and Saunders, J. (2008). Principles of Marketing (5th European Ed.) London: FT Prentice Hall