The Marketing Strategies Employed by Nissan in the UAE - Case Study Example

Nissan in the UAE al Affiliation Table of Contents Executive Summary 3 Introduction 3 PESTEL Analysis 4 Political Environment 4 Economic Environment 5 Social/Cultural Environment 6 Legal Environment 7 Technological Environment 8 Environment 9 Competitor Analysis 10 Competitive Strategy and Position 11 Market Research 11 Customer Analysis 12 Segmentation and Targeting 14 Positioning Strategy 15 Product Strategy 16 Pricing Strategy 16 Distribution Strategy 16 Promotion Strategy 17 Customer Service and Relationship Activities 18 Conclusion 19 Recommendations 19 References 20 Executive Summary This paper discusses the marketing strategies employed by Nissan in the UAE automobile market where it intends to introduce a new car. Studies show that the UAE’s automobile industry has witnessed tremendous growth over the past few years. The UAEs economy has grown significantly over the past few decades creating a huge demand for cars. Additionally, the country has implemented various policies that have made doing business in the country favorable to foreign companies like Nissan. Although the automobile market in the UAE is extremely competitive, Nissan will employ effective marketing strategies to enable it gain competitive edge over its rivals in the market. The main focus of Nissan will be to provide quality cars that not only provide comfort, but also safety and economy. Among the critical aspects to be discussed in this document include PESTEL analysis, competitor analysis, market research, customer analysis, need analysis, segmentation and targeting and positioning strategies. Other areas to be discussed include product strategy, pricing strategy, distribution strategy, and promotion strategy and customer relation activities. Introduction Formed in December 1933, Nissan has grown to become one of the leading automakers in the world (Ghosn, 2007). Initially, the company was incorporated as Jidosha-Seizo Co., Ltd., a name which it used until 1934, when the company was rebranded and renamed Nissan Motor Company upon merging with another Japanese automaker. Although the company began its operations targeting only the Japanese local market in the early 20th century, the company soon changed its strategic plan in which it began exploring opportunities in the international market. Currently, Nissan manufactures and sells more than 4 million cars in different parts of the world (Ghosn, 2007). In fact, the company reveals that it sells cars in almost all countries in the world today. Currently, Nissan ranks among the three giant automakers in Japan and ranks among the top five automakers globally. Dutsun was Nissans first car brand to be manufactured. The company reveals that the car was manufactured around 1914. However, the car emerged in the market in 1935 after undergoing modifications to fit the market demand. Nissans headquarter is based in the Japanese capital city of Tokyo. Nissan in involved in the manufacturing and sale of a variety of passenger vehicles and their spare parts. Some of the categories of automobiles manufactured by Nissan include vans, trucks, buses and aerospace (Peng, 2008). Nissan is also involved in the manufacture and sale of industrial machinery, and marine equipment, just to name but a few. Currently, Nissan operates in Japan, the U.S., South Africa, Canada, New Zealand, Australia, Mexico, Asia and part of the Middle East, according to Peng (2008). Nissans plan to introduce a new product into the UAE market has been prompted by the opportunities presented in the market. Additionally, Nissan believes that UAE has one of the best business environments in the entire Gulf region as revealed by the World Bank (2014). Nevertheless, before Nissan can introduce a new product into the UAE, it is critical that the company studies the business climate of the country. This is because there are a number of factors, which may affect the success of Nissan in the UAE’s automobile market. PESTEL Analysis Political Environment The United Arabs Emirates (UEA) is a Middle East country bordering the Arabian Gulf and Oman Gulf, between Saudi Arabia and Oman. It is a federation of seven states that formed in 1971 operating under the federal government. The country is arguably one of the most democratic countries in the Middle East (BBC News, 2014). The country is said to be politically stable. Even though democracy sometimes appears jeopardized, citizen enjoys a lot of freedom. UAE has four levels of governments: President, Federal National Council, High Council, and Local Emirs. Each Emirate also has its autonomous government. In UAE, most powers are vested in the hands of the Emirs. As such, no authority is allowed beyond Emirs, implying that citizens from different Emirates have absolutely no say on political issues (McGinley, 2013). Because the political situation in EAE is stable, this makes the country a suitable investment destination for Nissan. Nevertheless, Nissan has to be wary of the volatile political situation in the Middle East, which might spillover into the UEA. In case the political volatility in the Middle East spillover into the UAE, this might have a negative impact on Nissans business operations in the country. Economic Environment Economic situation is another important factor that a company must consider before entering into a given market. Therefore, before Nissan can move into the UAEs automobile market, it must assess the economic situation of the country to see if the economy of the country will make the automaker success or not. Based on the analysis of the economy of the country, it emerges that the UAE is among the most liberal and open economies in the Gulf region with sizeable annual surplus and high per capita income. With Dubai and Abu Dhabi as its financial hub, UAE has a stable commanding economic superiority in the Middle East. Economic survey ranks UEA high in terms of GDP out of all the emerging markets. The GPD of UAE, according to the 2013 statistics, stood at $395 billion making it the second largest economy in the Arab world (Forbes, 2014). The majority of the UAE citizens are also employed. According to the latest statistics, the unemployment rate in the country stood at 2.4% of the working population. The economy of the country also appears stable as the inflation rates stand at only 0.7%. Additionally, the UAE also does not operate either and income tax or federal-level corporate tax. Although there are other taxes levied, the overall taxes burden in the UAE is very low at 6.1% of the economy. The UAE also has one of the lowest public debts in the region at about 18% of GDP (BBC News, 2014). UAEs economy is driven mainly by the export of oil and gas, which is available in large supply. Nevertheless, the country weakness is mainly on its monetary policy in which its currency is pegged of the dollar, allowing it little control over monetary policy thus making inflation difficult to control. The strong economic situation of the UAE means that Nissan will benefit a great deal by venturing into the market. A strong economy means that citizens of the UAE have enough disposable income to spend on the vehicle, which Nissan intends to introduce. The low unemployment rates also mean that people have enough money to spend on buying Nissan automobiles. Additionally, the fact that the UAE is an open economy implies that Nissan will not find it difficult venturing into the market. However, the only worry that Nissan must take note of is the fluctuation of the money since the UAE currency is pegged on the dollar whose value keeps fluctuating from time to time. Social/Cultural Environment The population of the UAE stands at about 5.5 million people, according to Forbes (2014) report. UAE being a wealthy country with low unemployment rates; the majority of the population enjoys high standards of living. In fact, most residents of UAE live a westernized kind of lifestyle. UAE is also a diverse country with several immigrants from countries such as India, Iran, Pakistan, Japan, Bangladesh, Sri Lanka, and Philippines. Some are Europeans, Arabs, and Americans. The locals are very hospitable and welcoming people an aspect that makes the country very easy for foreigners to do business. Accordingly, the society is very open to foreign businesses (The World Bank, 2014). UAE also has one of the best infrastructural facilities, an initiative taken by the government to promote business in the region. The welfare provides a Free State service to everyone including education up to the tertiary level, high-quality healthcare, family allowances, social security, water, electricity, and housing at subsidized cost to low-income earners. The UAE government took this initiative as a way of distributing wealth derived from oil to its population. Therefore, based on the socio-cultural situation of the UAE, it becomes clear that Nissan will not have difficulty doing business in the country. For instance, the socio-cultural analysis showed that UAE are hospitable and are welcoming, which will play to the advantage of Nissan in its endeavor to operate in the country. Additionally, the UAE citizens live a westernized kind of living style. Therefore, this aspect will be advantageous to Nissan because this will make its brand receive a warm reception from citizens. However, the major socio-cultural shortcoming that Nissan will face pertains to having to adapt to the Islamic way of doing business. This is because UAE is a predominantly Islamic nation, where Islam influences how businesses are conducted. For instance, the Muslim faithful will sometimes have to abandon work on Fridays for prayers in Mosques among other Islamic rules. Legal Environment In order for a foreign company to be embraced and perform business successfully in a foreign country, it must understand and abide by the legal aspects of the country. Firstly, UAE have enacted a number of laws that make it easy for foreigners to do business in the country. For instance, the UAE government has enacted a listing ceiling for companies (The World Bank, 2014). This law makes it flexible for companies in the region to do business. The law has even opened room even for family businesses to go public. This federal government has since legislation brought down the ceiling threshold to 25% down from 55%.Abiding by this legal requirement is critical for doing business successfully in the UAE (BBC News, 2014). Although the government has enacted numerous flexible laws that make it easy for local and foreign companies to business in the country, the legal system of the country is still underdeveloped. Firstly, analysis of the countrys legal system shows that the countrys court proceedings are time-consuming and take too long to finish the case. Secondly, the country has no juries. Therefore, cases are handled by either a single judge or a three-judge bench, which makes it extremely time consuming to finish the case. Additionally, the legal system of the UAE requires that all evidences presented in courts must be in Arabic. Based on the legal situation of the UAE, it becomes clear that Nissan will find it easy doing business since there are no many legal hurdles. All that Nissan will be required to do is adhere to some of the legal requirements and begin doing business. The major challenge, however, will come in when Nissan has a dispute that needs to be solved faster. This is because the countrys court proceedings are very slow and time-consuming. Therefore, in case Nissan has a dispute, which is presented in court, it must understand that the case will take several months or years to conclude. Additionally, Nissan will have to ensure that all evidences presented in courts are presented in Arabic as required by law. Technological Environment UAE just like any other country is at the forefront of automatic most of its services to ensure efficiency and timely delivery of quality services. The government is especially investing millions of dollars on research and development especially in the line of technology. It has gone a step further in promoting professions that are technology oriented to ensure that the country remain at the top in terms of technology. Among the technologies that have been adopted currently, include e-commerce, which is seen as one of the means of promoting efficiency in businesses (The World Bank, 2014). Furthermore, most services in the country are automated. A study conducted in the Gulf showed that UAE has many technologically knowledgeable professionals. The study also found that internet usage and IT software industries in the country is more than double the rate in Europe. The technological situation in the country is a big advantage to Nissan, which is a technologically oriented country. Because the UAE has many technologically knowledgeable professionals, Nissan will ultimately find it easy getting the right talent from the local market to spur its growth in the region. Additionally, Nissan will not have to import most its technologies and workers from Japan, which will help save cost. Environment The UAE is at the forefront in ensuring that the environment in the area remains hospitable to promote business. This can be seen through its effort of increasing spending on job creation, opening up utilities for a private investor involvement as well as expanding its infrastructural facilities to create a favorable environment for business and investment. The governments commitment to promoting business and investment is also seen when it created a free trade zone in UAE (Ernst & Young, 2011). The zone was mainly established by the government as a way of promoting direct foreign investment in the country. This implies that there are no limits on overseas ownership within UAE. The government in this case allows foreign investors to set up 100% fully-owned companies within the free trade zones, which currently stand at 30. The taxation is also relatively low, which promotes starting and doing business in UAE. However, even as the government creates an environment where businesses are established and thrive, the UAE is also at the forefront in ensuring that pollutants from industries are kept as low as possible to mitigate the global warming effect. In this case, the UAE has enacted laws that require that all companies, local and international keep their level of emission as low as possible (Latham & Watkins, 2011). Companies that violate the law risk either being fined heavily or deregistration. Such measures have ensured that UAE becomes among the least greenhouse emitters in the Gulf region. Therefore, based on the environmental situation, it becomes clear that the UAE has created an environment that is suitable for Nissan to do business. According to the Latham & Watkins (2011) report, UAE has invested heavily on the infrastructural facilities, such as roads, electricity and communication facilities that make the country a suitable country for doing business. Additionally, UAE has created a trade free zone which makes it easy for Nissan to venture and invest in the country without hurdles. Further, the UAE has one of the lowest tax regimes in the Gulf, making it cheap for Nissan to do business in the country. Nevertheless, Nissan will encounter a big challenge of having to comply with the emission requirements. Therefore, in order for Nissan to receive a nod and avoid fines or deregistration, the company will have to ensure that its emissions are kept as low as possible as per the UAE requirements. This might require investing in new technologies, which might be expensive for the company. Competitor Analysis The UAE automobile industry is very competitive (Gulf Business Staff, 2014). Therefore, even as Nissan introduces a new product into the market, it must be prepared to face still competition from other leading automakers that have already set foot in the market. Some of the major direct competitors that Nissan will encounter in the UAE automobile market include General Motors, Ford, Toyota, Honda and DaimlerChrysler (Nair, 2013). Although these are the major direct competitors in the market, Nissan will also encounter indirect competition from local companies that manufacture motor vehicle parts in the market. Competitive Strategy and Position Although the UAE automobile industry has many major players that Nissan has to compete with, Nissan has created a strong competitive strategy and position that will most likely give it a competitive edge over its rivals in the UAE market. The first strategy that Nissan has adopted is to provide its customers with diversified products. Nissan has a diversified product portfolio, which gives customers a wide range of products to choose. In fact, the company provides brands in almost all segments of the automobile, a strategy that will most likely work to its advantage. Currently, Nissan produces a variety of vehicle brands, including trucks, vans, pick-ups, buses, crossover utility vehicles, marine vehicles, and forklifts among others (Samuel, 2003). In addition, Nissan also manufactures and sells spare parts, a strategy that will ultimately give it a competitive edge over its rivals. Secondly, Nissan has widely recognized brand worldwide. The companys brands are recognized for quality and efficiency in terms of fuel consumption, which gives it a competitive edge over its rivals. Additionally, the company has invested heavily on research and development and engineering to enable it improve performance, safety and customer satisfaction. For instance, Nissan has invented hefty amount of resources on research and development in 65 engineering centers around the world, which gives it a competitive edge in the market. Market Research Nissan believes that the key to success in a competitive business environment is to stay ahead of the park. In response, Nissan is involved in various market research initiatives aimed at improving the quality of its products and satisfying its customers constant changing needs. Some of the marketing research initiatives that Nissan is currently involved in include how to improve the safety of its cars and produce environmental friendly cars (McGinley, 2013). The initiatives involve conducting research on how to come up with the quality electric cars. To realize their goals, Nissan should invest heavily on research and development as well as encourage customer participation to ensure that the outcome meets the needs of customers. Getting the information from customers will ensure that the decision that the company makes factors in customer views. Customer Analysis The essence of introducing a product in the market is to enable customers to buy the product. Therefore, a company must ensure that the product provided is of high quality and meets all aspects that customers normally look for in the product. Analysis by Allen (1998) showed that the majority of the UAE’s car customers look for cars, which can fulfill their rational and emotional. Therefore, to attract the consumers in this market, Nissan will ensure that the rational needs of customers are fulfilled through the provision of high-quality and long lasting cars. Additionally, since the customers are looking to fulfill the emotional needs, Nissan will meet this need by proving cars that provide comfort. Decision Making Process Analysis (Sheth and Howards Model) Theorists note that, before consumers make purchasing decision, they tend to pass through certain stages to be able to make a rational and well-informed purchasing decision. Howard-Sheth model is one such model that highlights the various stages that consumers pass in their decision-making process. The first stage of consumer decision-making process, according to Howard-Sheth model is the extensive problem-solving. This is the stage where the consumer does not have information about the product in the market and does not have any product preference. Therefore, to make a rational decision, the consumer will attempt to gather information about all the products in the market before buying the one that fulfills his or her needs (Farley and Ring, 2011). The second stage, according to Howard-Sheth model is the limited problem-solving level. This is where consumers have very little knowledge regarding the product they intend to buy. Therefore, in deciding the best brand to buy, the consumers compare the different products in the market before deciding on the one to buy. The third stage of consumer decision-making process, according to Howard-Sheth model involves habitual response. This is the stage where the consumer has perfect information about different brands in the market and can differential all the features and characteristics of each brand. Therefore, the consumer knows the product which to purchase straight without necessarily comparing it with other products (Farley and Ring, 2011). Howard-Sheth model also identified four critical variable that influence consumer behavior. The first variable, according to the model is the input variable, which three sources of information in the consumer environment. According to this model, the marketer of a product must provide the physical characteristics of the product and the verbal or visual characteristics of the product during marketing. The third type of consumer information is provided by the social environment of the consumer, such as a family, social class and references. The mode states that all the three stimuli give inputs regarding the product category to a given consumer (Farley and Ring, 2011). The second variable, according to Howard Sheth model is perceptual and learning constructs. This variable deals with the psychological effects involved when a consumer in contemplating to make a decision. In this regard, some decisions that the consumer make are perceptual in nature and depends on the manner a consumer receives or and interpret the information. Accordingly, a perceptual bias might happen when a consumer misinterprets the information from input stimuli. Third is the output variable. The outputs in are what comes out of the perceptual and learning constructs and depend on the consumers response to the variables, such as attention, attitudes brand and intention among others. The last variable is exogenous variables. The model states that exogenous variables have no direct link to the decision-making process. Nevertheless, certain exogenous variables influence consumer purchasing decisions. These include religion, personality train and time pressure (Farley and Ring, 2011). Segmentation and Targeting The target market for Nissan products will comprise of low-income earners, the middle class and cyclists. The number of people traveling using bike has increased significantly in the UAE over the past few years. Therefore, Nissans first major market of the target in the UAE will be consumers traveling through bike. Safety is increasingly becoming critical to consumers traveling through bike since the number of accidents involving consumers using bikes have increased significantly in the UAE (Mercer, 1996). Therefore, by creating awareness of the safety and affordability of Nissan brands, it will be easy for Nissan to attract this consumer group thereby resulting in increased sales and brand loyalty. The next target market for Nissan will be psychographics. Nissan is known worldwide with its quality products. Therefore, Nissan will take advantage of its reputation as an international automaker by attracting people who are of high social status. Comfort and safety are also another important factor that consumers usually consider when making deciding on which car to buy (Mercer, 1996). Therefore, by taking these factors into consideration, Nissan will attract comfort and safety conscious consumers in the UAE. By providing cars that provide safety and comfort, comfort and safety conscious consumers will certainly shift their allegiance to Nissan. The third market segment of the target will be geographic segment. Currently, Nissans main concern is how to reach cover the entire UAE. Therefore, Nissan will focus its marketing strategies to reaching every part of the UAE. Lastly, Nissans other market segment will be people aged between 25 – 60 years. Analysis of the UAEs automobile market shows that the majority of buyers of the automobile fall within this age bracket (Forbes, 2014). Therefore, to have many buyers, the company will tailor its products and marketing efforts to attracting consumers of this age bracket. Positioning Strategy Nissan is a global company with presence in more than 180 countries across the globe. Therefore, the company will take advantage of its reputation to attract automobile consumers in the UAE. Secondly, Nissan will position itself in the UAE by emphasizing its special features, such as comfort, fuel economy and safety to attract the attention of consumers in the UAE. This will ultimately enable Nissan products to receive a warm reception in the market. Perceptual Mapping Fuel efficient No brand personality Expensive Very comfortable High quality Product Strategy The product that Nissan intend to introduce in the UAE market will be of high quality. However, the product will focus on critical elements that consumers usually look for when making purchasing decision. These will include comfort, fuel economy and safety. Marketing a product on these three critical frameworks will enable the product receive a warm reception, thereby giving Nissan a competitive advantage over its competitors, including General Motors, Toyota, Ford and Honda among others. New developments will, however, be made on the product after getting feedback from the customer. Pricing Strategy Price is a critical factor that consumers take into consideration when buying cars. The same applies to the automobile consumers in the UAE. Study shows that most consumers are highly price elastic (Gulf Business Staff, 2014). Therefore, a slight change in price of a car brand usually results in a shift in buying pattern. Therefore, to attract many customers, Nissan will charge competitive prices by charging prices, which are lesser than what its major competitors charge in the UAE automobile market. The pricing strategy adopted will be cost-based in the prices charged will factor in the cost incurred to make the car. Therefore, as much as the prices charged will be lesser than what other major players charged, it will be fixed in a manner than leaves the company with profits. However, the prices charged will be flexible to allow adjustment depending on the market condition. Distribution Strategy The success of Nissan in the UAE market will depend largely on the marketing strategy adopted. Since there are a number of major players that Nissan has to compete with, in the UAE market, it requires a high degree of market exposure to navigate the UAE market. The available distribution channels that Nissan will use in the UAE include direct and indirect distribution channels. Therefore, Nissan will use both distribution channels for distributing is cars to various destinations across the country. With regards to direct channel, Nissan has already set up showrooms in major cities in the UAE. Therefore, Nissan will adopt direct distribution channel at these stations for its cars. To increase its reach, Nissan will also have to set up more showrooms in different parts of the country, even in smaller towns to make its cars available closer to consumers. However, Nissan will adopt indirect distribution channels in areas where it has not set up showrooms for its cars. In this case, Nissan will use its authorized dealers as sales agents for its cars. Promotion Strategy Alberto (2005) notes that the promotion is a critical element of the marketing mix. Promotion is important because it helps create brand awareness and differentiate company product from those of competitors. Companies promote products with the aim of persuading consumers to buy a product, thereby resulting in increased sales and brand awareness. The creative message involve in the promotion of Nissan cars is to inform the potential consumers of the advantages of buying Nissan cars and other products. Additionally, promotion is critical because it ensures that consumers are well-informed about the features of Nissan products and other improvements that have been made to make the product function better. To achieve its marketing goals, Nissan will adopt a mixture of promotional methods. Firstly, Nissan will advertise its products through the print and electronic media. Print media will involve putting ads on the popular newspapers that command wide readership in the UAE, such as the Arabian Post, Dubai Standard, the Gulf Times and Emirates Today among others. Secondly, Nissan can also advertise its cars by sponsoring sports and special events. Thirdly, Nissan can also advertise its car in the UAE by erecting billboards along busy roads, telemarketing or flex signs, which are among the most popular forms of advertising in the UAE. Additionally, Nissan can also promote its products through by organization road shows or seminars to create its brand awareness. Customer Service and Relationship Activities Nissan acknowledges that the key to success is to keep customers satisfied all the time. Therefore, to fulfill this requirement, Nissan ensures that its customers are provided with high-quality services all the time. Apart from selling to them high-quality cars, Nissan has well trained professionals that ensure that customers receive quality services to build customer loyalty. Nissan also understands that the only way for it to navigate the highly competitive UAE automobile market is to build a strong relationship with customers. Accordingly, Nissan is engaging in various customer relationship building to keep customers satisfied. The activities include organizing seminars and shows where customers are informed of the company products and why consumers should consider buying them. Additionally, Nissan has an active customer care representatives that provide prompt response to customer queries. Further, Nissan also interacts with its customers on the internet through various social media sites, such as Facebook and twitter to build close customer-company relationship. To create customer loyalty, Nissan ensures that that its customers are not only provided with quality cars, but also quality services. These include responding to customer queries promptly and ensuring that all their needs are met. Additionally, Nissan has also invested heavily on research and development to ensure that quality is improved all the time to ensure that quality is not compromised for customer satisfaction. Conclusion Nissan is one of the leading automakers in the world. The Japanese automaker ranks among the top five automobile companies in the world. Analysis of the UAE automobile market shows that the country has witnessed tremendous growth in the last few years. The growth is attributed to the growth of the countrys economy that has created a huge demand for cars. Having noted the opportunity, Nissan has decided to explore the market by introducing a new product. Although the future of Nissan in the market appears bright based on the analysis of the market, Nissan will have to deal with the stiff competition which is already in the market. Currently, apart from Nissan, other giant automakers have also ventured into the market, including General Motors, Ford, Toyota and Honda. Therefore, to win customers, Nissan must employ strong marketing strategies to enable it gain competitive edge over its rivals. Recommendations Based on the analysis of the UAE automobile market, the following recommendations should be factored in by Nissan to succeed in the market. First, it would be prudent for Nissan to choose an innovative name for a car it intends to introduce into the UAE market. Similarly, Nissan should ensure that the label of the car is also attractive and innovative to win consumers over its rivals. Secondly, Nissan should ensure that the prices for its cars are lower than those charged by its rivals to attract more customers, including the low-income earners. Thirdly, Nissan should ensure that it uses both direct and indirect distribution channels to enable the products reach consumers easily in the entire country. References Alberto, J. (2005). Strategy moves. New York, NY: Pearson Education. Allen, G. (1998). Introduction to marketing (5th edn.). London: Addison-Wesley. Basit, A. (2014, Jan. 29). UAE automobile sector sees 16.7% growth in ’13. Khaleej Times, p. 7. BBC News. (2014, July 1). United Arab Emirates profile. BBC News, p. 1. Ernst & Young. (2011). Doing business in United Arab Emirates country profile. Abu Dhabi1-56. Farley, J. U., & Ring, L. W. (2011). Models of buyer behavior, chapter 8: Deriving an empirically testable version of the Howard-Sheth model of buyer behavior. New York, NY: Marketing Classics Press. Forbes. (2014, March 6). United Arab Emirates. 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