Marketing Plan of Great Wall Motor - Case Study Example

Introduction Marketing plan refers to a document that is written containing the steps of actions needed to be taken in order to achieve the goals and the objectives of the business. The plan can be of a service, brand, product or the entire product line. It should be a plan that covers a period of one up to five years. It can be a business plan or part of it. This plan is also called a marketing strategy of a business. The following are the contents of a marketing plan, the strategies of pricing, market segmentation, description of the location of the business alongside the disadvantages and advantages of marketing in that place. It also contains the budget of the advertisement and the promotion strategy (Dennis, 2001). Finally, it contains the detailed description of the service and the product including the entire features that are special about it. This answers the following question, the current marketing objectives and strategies. How effective the marketing process is controlled, the achievement of the marketing budget, how to realize or if there is a realization of the objectives in a smart way, the level of staffing, the way to develop staff and train them and finally the experience and learning achieved as per that level. Great Wall Motor segments and select target market Whether a company is developing a new product or repositioning the existing brand, there is still a possibility of changing the marketing segment as well as the target market. The great wall motors is not a new product but it is being repositioned to other parts of the world (Finlay, 2000). Target market This refers to the identification of the consumers that the product will serve. It enables the business to recognize the consumer’s diversity without trying to impress them all at ago. It is dependent on the segmentation. Marketing segment This refers to the process of identifying the portion in the market exhibiting differences from each other. This process enables the company to meet the needs of the consumers. It also enables the business owners to be in a better position of competition with their competitors. The following are the criteria of identifying market segments; accessibility, identifiable, uniqueness of the needs, substantiality and durability of the product. For a market segment to be good then it should contain members that are externally heterogeneous and internally homogenous (Hill & Jones, 2007). The following are the bases of segmentation. A. Geographical: The product will be in America. Basically New yolk city. The reason being that it is densely populated and the climatic styles are not likely to affect the sales of the Great Wall Motors. B. Demographic: Being an international city, it will likely serve the needs of people of different age, gender, family lifecycle, family size, social class, religion, occupation, ethnicity and nationality at the same time. C. Psychographic: this will group the consumers into very different lifestyles. Since the business will be in town which is actually an international city then it will actually attract and serve people with different opinions, attitudes, interests, value and activities. D. Behavioralistic: this is basing the segmentation according to the behavior exhibited by the customers. Some will come due to their readiness to purchase, benefit they will be seeking, brand loyalty and due to the existing occasion. All of which perfectly suits the place of the business. E. Location: it will be located in the area New York because the cost of production is also very low. However, it will be far from the industries dealing with the same product. Situational Analysis This refers to an activity that is performed in the process of running a business and it entails mastering the needs that are within the business as well as the solution to those problems. Some of the solutions that the analysis comes up with includes the components of developing systems, improvement of some of the processes in the business, changes in the organization, some strategic planning as well as development of policies governing the organization. It represents a very important tool as far as the running of the business is concerned (Dennis, 2001). This is because it aims at the identification of the changes that are needed in the organization and then gives room for solution identification in order for the organization to reach its goals, It involves a number of planning as the development process requirements so that the management can be able to set the priorities right and appropriately manage the changes. SWOT Analysis This kind of analysis capitalizes on the opportunities and the strengths that a business has. It also shows threats and the weaknesses that any business is likely to face. The strengths of a business involves its advantages, the things that the business is doing very well as far as its field is concerned and its key areas which are performing very well within that particular company. The companies strengthen is the fact that it deals with a modern type of motors. The weaknesses represents the areas that are not doing so well and needs to be improved the areas that are currently being done very badly. The company’s weakness is its sales and marketing strategy. Which though it has good products the ways of marketing the products are not very good especially the advertisement. The opportunities of the business represent the factors that give the company a better opportunity to stand in competition with other companies of the same caliber. Its opportunity is in the demand the customers have for the product. The statistics shows that the product is currently demanded at a level of 60% as compared to the other products. Also the percentage of the gender demand for the product is the same. Threats of a business include the obstacles that the organization faces. They are also the areas that the competitors companies do well as compared to the company. Such threats include better human resource management in terms of better salaries in the competitor companies like Toyota as compared to it. The central positioning idea of the brand/product A brand represents the identity of a particular product. It takes very different forms ranging from the symbol, sign to the name. Also the color combination is very important as well as the slogan. The brand will identify the product and enable the consumers get the relationship of the product to the investors, consumers, partners and staff. The process of brand name identification started by a market research from the customers, this was mainly done to get to know what the customers unmet needs were (Dennis, 2001). The name of the brand was to be based on the market gap that was left by the existing type of the motors. One advantage of the motors the company was producing was the fact that the car was to use less fuel it was use safer fuel with out lead was very fast The product name therefore came from the combination of the above factors. Product slogan The slogan for the product will be “Conserve the environment as you travel safely and cheaply”. Product name The brand name will be “trasafech” the meaning of the name is travel, safely and cheaply. The above brand name has described the advantages of the product and it has left a room of attraction for the consumers. Marketing objective A. To fully meet the needs of the customers which are a vehicle that is of high speed, consumes less fuel and uses fuel that does not pollute the environment. B. To have a product that is most used in the market. C. To produce the best quality product in the market. Marketing mix considerations and specific strategies There is a need for specific strategies which will meet the market objectives stated above. The strategies will involve a mixture of the objectives together with the market mix like the people, the product, the place the promotion and the process (David, 2002). The following are the strategies 1) Advertisement: This will involve intense advertisement of the product on the television mainly the channel that covers a wide area, newspapers and on the internet. this will help in capturing the attention and interest of many people hence enabling the business achieve the second market objective of have a product that is most used in the market 2) Technology: there will be use of a high level of technology in the manufacture of the product. this is to ensure that the product meets the market objective one and three of meeting the needs of the customers which are a vehicle that is of high speed, consumes less fuel and uses fuel that does not pollute the environment and producing the best quality product in the market. Overall recommendation If marketers pay extra attention to all what the consumers need or want then, marketers will definitely make products similar to the ones already in existence. This is because consumers normally go for the products they know and not for the ones they possibly not know. The concept of marketing assumes that the consumers have clear goals and pursue them rationally. This is not true because they get buffeted in most cases by all kind of forces. It is evident that, many respond to hyped products and stories around them (Burns, 1961). Therefore, for the marketers to be effective, they need skills, which go beyond APIC (analysis, planning, implementation and control). Marketers need to be able to create new realities, dramas, artificial scarcities and celebrations among others. The contemporary marketing concept implies that marketers must be submissive to customers and go all out to please them. Conclusion For any business to thrive and take lead in today’s business world, no matter which industry it is, there is need for business analysis. It is very evident that an industry like ecommerce dealing with the computer technology where there is great demand, dynamic technology and great competition, business analysis is very important (Armstrong & Kotler, 2007). It will be beneficial for such firms to use both the past as well as the current techniques of business analysis to be able to maximize their profit, make better decisions and come up with perfect solutions for their problems. This means that business analysis is a very important component of any business. Reference Armstrong, G. & Kotler, P. 2007. Marketing: an introduction (8th Ed). New Jersey: Pearson Prentice Hall. Burns, T. 1961. The Management of Innovation. London: Tavistock. David, F. 2002. Strategic management: concepts (9th Ed.). New Jersey: Prentice Hall. Dennis, A. 2001. Marketing: principles and practice (4th Ed.). Financial Times, New Jersey: Prentice Hall. Finlay, P. 2000. Strategic management: an introduction to business and corporate strategy. New York: Pearson Education. Hill, C. & Jones, G. 2007. Strategic Management: An Integrated Approach (8th Ed.). California: Cengage Learning. Read More