Marketing Plan for a Premium (Branded) Product Free Essays

Table of Contents No| Tittle| Pages| 1. 0| Executive Summary| 5| 1. 1~1. We will write a custom essay sample on Marketing Plan for a Premium (Branded) Product or any similar topic only for you Order Now 2| Objectives ~ vision and mission| 5| 2. 0| Company Summary| 6| 2. 1| Background| 6| 2. 2| Company Locations and Facilities| 6| 3. 0| Products and Services| 7| 3. 1| Products Description| 7| 3. 2| Competitive Comparison| 8| 3. 3| Supply and Demand Details| 9| 3. 4| Technology Needs| 10| 4. 0| Market Analysis| 11| 4. 1| Target Market| 11| 4. 1. 1| Target Market Segment Strategy| 11| 4. 1. 2| Market Needs| 11| 4. 1. 3| Market Trends| 11| 4. 1. 4| Market Growth| 12| 4. 2| Industry Analysis| 13| 4. 2. 1| Industry Participants/Key Players| 13| 4. 2. | Main Competitors/Competitive Analysis| 13| 5. 0| Strategy and Implementation Summary| 14| 5. 1| Marketing Strategy| 14| 5. 2| Pricing Strategy| 15| 5. 3| Promotion Strategy| 15| 5. 4| Distribution Patterns| 15| 5. 6| Sales Strategy| 16| 5. 7| Sales Forecast| 16| 5. 8| Sales Programs| 16| 6. 0| Web Plan Summary| 17| 6. 1| Website Marketing Strategy| 17| 6. 2| Development Requirements| 17| 7. 0| References| 18-20| 1. 0 Executive Summary 1. 1 Objectives My objective is to collect and research information to understand Audi Company better in terms of their company background, product and services and their marketing strategy. Examples are like their technology, competitors pricing, sales figures market growth and many more. 1. 2 Vision and Mission Vision: â€Å"Audi – the premium brand† Mission: â€Å"We delight customers worldwide† 2. 0 Company Summary 2. 1 Background Audi is under a parent company named Volkswagen Group which is a German automobile manufacturing company. Audi is a manufacturer of exquisite cars – beautiful, sophisticated machines that embody technological perfection. Audi is the Premium brand growing most rapidly and on course to become the world’s most successful Premium manufacturer. Audi has been recognised by the European Union for outstanding environmental protection, based on its long tradition of minimising and reusing production waste. 2. 2 Company Locations and Facilities The worldwide network of Audi sites comprises the two German plants in Ingolstadt and Neckarsulm, as well as seven production facilities in Gyor (Hungary), Brussels (Belgium), Changchun (China), Aurangabad (India), Bratislave (Slovakia), Martorell (Spain) and Indonesia. 3. 0 Products and Services 3. 1 Products Description Type| Audi Q5 2. 0 TFSI Quattro (225PS)| Vehicle Type| Sport Utility Vehicle (SUV)| Transmission| 6-speed manual| Year| 2011| Price(RM)| 328,000| Engines| 1,984  cc (1. 984  L; 121. 1  cu in) I4 turbo| Acceleration(0-60mph)| 7. 0 sec| Maximum Speed| 130 mph| Tank Capacity| 75| Weight| 1850| Audi Q5 2. 0 TFSI Quattro (225PS) is a sport utility vehicle (SUV). The transmission for the car is 6-speed manual. Not only that, the Audi Q5 engine is 2. 0 litre engines comes with a turbo system which boost its engine capability, the acceleration from 0-60mph is 7. 0 per second and the maximum speed is 130mph which is approximately 233kmh while the tank capacity is 75 litres and the weight is 1850kg. 3. Competitive Comparison Type| Range Rover Evoque| Porsche Cayenne| Vehicle Type| Sport Utility Vehicle (SUV)| Sport Utility Vehicle (SUV)| Transmission| Six-speed Automatic| Eight-speed Tiptronic S with Auto start/stop function| Year| 2012| 2012| Price(RM)| 363,888| 570,000| Engines| 2. 0L Si4 4-cylinder petrol engine| 3. 6L V6| Acceleration(0-100km/h)| 7. 6 sec| 7. 5 sec| Maximum Speed| 217 km/h| 230 km/h| Tank Capacity| 70| 100| Weight| From 1640| 2030| 3. 3 Supply and Demand Details Audi Q series Annual Sales in all countries Production (unit)| Year| Year| Vehicles (Audi)| 2011| 2010| Q5| 183,678| 154,604| Q7| 53,703| 48,937| Q3| 19,613| -| Total Audi Q series| 256,994| 203,541| Based on the table above, Audi Q series annual sales for the model Q5 had increase from 154,604 for the year 2010 to 183,678 for the year 2011. The different of annual sales between year 2010 and 2011 is 29,074 which means the supply and demand for year 2011 had increase. The total annual sales of Audi Company for 2010 are 203,541 whereas for the year 2011 is 256,994. The table above show that the total annual sales of the company had also increase 53,453 which mean the supply and demand of the cars increase from the year 2010 to 2011. . 4 Technology Needs As technology needs for the model of Audi Q5 is the engine. The engine Audi Company use for Q5 is 2. 0 litre engines comes with a turbo system which boost its engine capability and turbocharging for more power and greater efficiency   is a development of the engine that powers the likes of the current Audi TT and Volkswagen Golf GTI. The engine’s pow er and performance will be from 0-60mph is 7 seconds and the top speed will be 130mph or 209km/h. The horsepower can up to 211hp or 4300rpm and the torque will be 258 Ib-ft. or 1500rpm. 4. 0 Market Analysis 4. 1 Target Market The following are the strategy for target market. 4. 1. 1 Target Market Segment Strategy Market segmentation for Audi Q5 will be psychographic segmentation which means Audi Company divide the buyers into different categories based on social class, lifestyles or personality characteristics. For the target market segment will be differentiated marketing strategy which means Audi Company produces several types of car such as SUV (Sport Utility Vehicle), Sedan and Sport each targeting its own segment of consumers. As for the product I choose Q5 target market is towards consumer’s lifestyles from higher level income. The target market will be consumers who finding for more comfortable, powerful and luxury option. 4. 1. 2 Market Needs Audi Company is providing customer comfort and luxury cars. Audi have a very good warranty and aftersales services for the customers. Now for all the new Audi models, the customers can choose whether you want to have three, four or five years warranty. So with the few years warranty you can enjoy your driving and also no need to worry about the unexpected repair bills. 4. 1. 3 Market Trends Market trends for Audi Q5 is the technology its use for the engine. Audi Q5 has automatic start and stop function for greater fuel. Audi Q5 comes with the Driver’s Information System (DIS) can help consumer to save fuel. Not only that, the market trends for Audi Q5 is because comfort and luxury. 4. 1. 4 Market Growth Production (unit) Production (unit) Year Year Figure: Production of vehicles Audi Q5 Figure above shows the Audi Q5 pass four years production from 2008 to 2011. The models of Q5 have a production of 20,320 in year 2008. Then the production increase from 20,320 to 105,074 in year 2009. The different of both years are 84,754. The productions still continue increase from 2009 to 2010 which mean from 105,074 to 154,604. Lastly for year 2011, the production for the year is 183,678. Compare to the pass four years the production of Audi Q5 is continues increase. 4. 2 Industry Analysis 4. 2. 1 Industry Participants/Key Players The industry participant for Audi Q5 is Stefan Sielaff. He is the head of design in Audi Company. He joins the company in year 2006. The key player for Audi Q5 is towards the consumers with high level of income and age above 40. Not only that, Audi Q5 can also be for family uses because it is 7 seaters car. 4. 2. 2 Main Competitors/Competitive Analysis The main competitors for Audi Q5 are Range Rover Evoque and Porsche Cayenne Range Rover Evoque: * The main strength of Range Rover Evoque is that it is the sport utility vehicle (SUV) with the engine turbocharged inline four-cylinder which can boost up to 240 horsepower, six-speed automatic transmission and impressive acceleration which is 7. 6 per second. Porsche Cayenne * The main strength of Porsche Cayenne is that it is also sport utility vehicle (SUV) with the engine 8-speed Tiptronic S which can boost up to 380 horsepower, Eight-speed Tiptronic S with Auto start and stop function and impressive acceleration which is 7. 5 per second. 5. Strategy and Implementation Summary 5. 1 Marketing Strategy Marketing strategy for the Audi Company is to hit the annual sales target or increase sales and profitable get back. Audi Company will choose the best strategy to gain profit in order to create customers value. Audi Company market segmentation will be psychographic segmentation which means for the model Q5, the segmentation will base on the individual lifestyles . Audi Company market target will be age above 40 and consumers with high level of income. The target market segment will be differentiated marketing strategy. This is because the Audi Company is going to target on few market segments and provide few models such as A4, TT and Q5. By setting the market targeting, company hope can get higher sales. The market position for Audi Q5 is to combine both aspect in terms of luxury and performance in order to make the Audi Q5 to become a perfect sport utility vehicle. With high quality and luxury car and have also good performance with high tech engine, better interior and exterior are more attract the consumers compare to others competitors. 5. 2 Pricing Strategy In terms of pricing strategy, marketers have to look into competitors’ strategies and prices to make comparison. The pricing strategy for Audi Company is by cost-based pricing which is convincing consumers of the vehicles value. The company profit will be the most important issue in pricing strategy. Audi Company is using psychological pricing which means it is consider about the pricing but not the world economics. The higher the price of car is, the higher quality of the car is. 5. 3 Promotion Strategy The promotion strategies for Audi Q5 are advertising and public relation. In terms of advertising, Audi Company has to make decisions when setting the advertising budget which is objective, budget decisions, message and media decisions and advertising evaluation. The marketer had chosen the advertising budget by using competitive-parity method in order to prevent promotion war and know what the competitors plans. Public relation is that Audi Company builds a strong relationship with the customers. The public relation company will organise a special event for example car show to promote the cars. By organising the car show public relation people can introduce the benefit of Audi Q5 and the specifications. . 4 Distribution Patterns The distribution patterns for Audi Company will be wholesaling. Audi Company is the wholesaler and the Audi Company will hire selling agents to help the company to gain the sales. The selling agents will sell the cars direct to last consumers. The wholesaler will set the segmentation and targeting consumers in order to identify th e consumers and build a strong relationship with them. Selling agents have to explain about the cars specification and pricing to the customers in details to make the customers understand about the car concept. 5. Sales Strategy Sales strategy for Audi Company for model of Q5 is Audi Company have a very good aftersales services and warranty. Each of Audi cars has a warranty of at least 3years. Then, consumers no need to worry about the high repairing cost. Let’s say a customer with an Audi car model of Q5 send his or her car to service and he or she is busying with the job he needs a car to go work while the car repairing. In this case, Audi Company will decide to give the particular customer a same model of car to use while the car is doing services. 5. 6 Sales Forecast The annual sales for Audi Q5 in year 2011 are 183,678 units so the marketers aim that the next annual sales in year 2012 for Audi Q5 will be 500,000 units. The reason why the marketers aim for more annual sales is because the Audi Company objective is to get benefits. To gain more annual sales the marketing strategy have to be improve in order to have more supply and demand of Audi Q5. 5. 7 Sales Programs The sales program for Audi Q5 is the marketers will set market segmentation, market targeting, market position and market differentiation to concentrate on a market to increase the annual sales. In terms of pricing, the marketers will consider the target market income level and needs to get an Audi Q5. The marketers also will consider about the consumer judgement on the product. The marketers have to do some promotion in order to introduce the product to the target market. In this case, the product is Audi Q5 so the marketers have to consider the suitable premium product promotion strategy. After all, the marketers have to set a distributer to sell out the product. The distributer is by wholesale which means the Audi Company has to hire a selling agent to distribute the product to the last consumer. 6. 0 Web Plan Summary 6. Website Marketing Strategy Website marketing strategy is something similar to marketing strategy but is only available in online business. First of all, the marketers have to select the target market for Audi Q5. The target market for Audi Q5 is basically on consumers which is with high level of household income and with age 40 above. Audi Q5 is a premium product so for online marketing the consumers have to look into more about details of the company and also the car. Furthermore, the marketers have to look into the competitor’s online advertisement make sure the competitor’s online marketing did not reduces the confident of the consumers. Then, the marketers have to improve the Audi Company advertising skills. In terms of pricing, the marketers have to look into the market target needs. By using psychological pricing which means the consumers thought that the higher price of the car means the higher quality of the car. The consumers buying Audi Q5 is to show status and personal characteristic. The marketers have to create an advertisement either create by own or by hiring the graphic designer. For Audi Company normally the marketers will hire the famous graphic designer to create a fabulous website page. And the graphic designer will helps to create the content of the advertising which is the slogan of the Audi Company by giving consumers message about the car comfort and luxury. In addition, the marketers have to monitor the advertising in terms of maintaining the latest news of the website. 6. 2 Development Requirements The marketers have to make sure the budget of the advertising did not over the cost so that the company did not lose any profit. The costing by hiring a famous graphic designer are very high so the marketers have to make sure that the online marketing are successful and hit the target of sales. List of References Audi. com (n. d. ) Corporate strategy Audi at a glance Investor Relations Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/investor_relations/audi_at_a_glance/corporate_strategy. html [Accessed: 28 Nov 2012] En. wikipedia. org (1937) Volkswagen Group – Wikipedia, the free encyclopedia. [online] Available at: http://en. wikipedia. org/wiki/Volkswagen_Group [Accessed: 28 Nov 2012]. Fleetdirectory. co. uk (2012) Audi profile and Audi company details. [online] Available at: http://www. fleetdirectory. co. k/audi/ [Accessed: 28 Nov 2012]. Audi. com (n. d. ) Careers Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/careers. html [Accessed: 28 Nov 2012]. Models. audiusa. com (2012) Detailed Specifications Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/detailed-specifications [Accessed: 28 Nov 2012]. En. wikipedia. org (2009) Audi Q5 â €“ Wikipedia, the free encyclopedia. [online] Available at: http://en. wikipedia. org/wiki/Audi_Q5#Transmissions [Accessed: 28 Nov 2012]. Models. audiusa. om (2012)  Engines Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/engines [Accessed: 28 Nov 2012]. Landrovermalaysia. com. my (2011) Land Rover – Media. [online] Available at: http://www. landrovermalaysia. com. my/media_rangerover44tdv8. asp [Accessed: 28 Nov 2012]. Topgear. com (2012) Porsche Cayenne GTS unveiled in Malaysia – TopGear Malaysia. [online] Available at: http://www. topgear. com/my/7667-porsche-cayenne-gts-unveiled-in-malaysia/ [Accessed: 28 Nov 2012]. Porsche. com (2012) Technical Specs – Cayenne Diesel – Cayenne Overview – Dr. Ing. h. c. F. Porsche AG. [online] Available at: http://www. porsche. com/pap/models/cayenne/cayenne-diesel/featuresandspecs/ [Accessed: 28 Nov 2012]. Annualreport2011. volkswagenag. com (2011) Volkswagen Group – Annual Report 2011 – Audi. [online] Available at: http://annualreport2011. volkswagenag. com/divisions/audi. html [Accessed: 28 Nov 2012]. Audi. com (n. d. ) Corporate strategy Audi at a glance Investor Relations Audi Worldwide. [online] Available at: http://www. audi. com/com/brand/en/company/investor_relations/audi_at_a_glance/corporate_strategy. html [Accessed: 28 Nov 2012]. Models. audiusa. com (2012) Detailed Specifications Features and Specifications Audi Q5 Audi of America. [online] Available at: http://models. audiusa. com/q5/detailed-specifications [Accessed: 28 Nov 2012]. CNET (2009)  Audi Q5 delivers sports car handling. [online] Available at: http://reviews. cnet. com/8301-13746_7-10309171-48. html [Accessed: 28 Nov 2012]. Topgear. com (2012) Porsche Cayenne GTS unveiled in Malaysia – TopGear Malaysia. [online] Available at: http://www. topgear. com/my/7667-porsche-cayenne-gts-unveiled-in-malaysia/ [Accessed: 28 Nov 2012]. Audi UK (2012) Saving you fuel Q5 Q5 Models Audi UK. [online] Available at: http://www. audi. co. uk/new-cars/q5/q5/saving-you-fuel. html [Accessed: 28 Nov 2012]. Babyrr. com (2012) babyRR. com – The Range Rover Evoque Forum – Negative Consumer Reports Review. [online] Available at: http://babyrr. com/forum/archive/index. php/thread-2845-1. html [Accessed: 28 Nov 2012]. Porsche. com (2012) Drive – Features – Panamera S Hybrid – Dr. Ing. h. c. F. Porsche AG. [online] Available at: http://www. porsche. com/usa/models/panamera/panamera-s-hybrid/detail/drive/ [Accessed: 28 Nov 2012]. speedonline. com (n. d. ) PDK vs. Tiptronic – 6speedonline. com Forums. [online] Available at: http://www. 6speedonline. com/forums/cayenne-958/273697-pdk-vs-tiptronic. html [Accessed: 28 Nov 2012]. About. com Small Business: Canada (2000)  Part Two of the 5 Step Internet Marketing  Plan. [online] Available at: http://sbinfocanada. about. com/od/onlinebusines s/a/netcampaignpp_2. htm [Accessed: 28 Nov 2012]. Marketing, An Introduction ARMSTRONG, G. and KOTLER, P. (n. d. ) Marketing, An Introduction. 11th ed. United State of America: Pearson Education How to cite Marketing Plan for a Premium (Branded) Product, Essay examples