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4 Steps To Marketing Research
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Introduction
Creating a strong path of action, that includes all steps necessary for research to be insightful and applicable, takes a lot of planning and consideration. The research case discussed in this paper will expound on steps necessary for a fictitious company, Advanced Automobile Concepts, to increase sales. Advanced Automobile Concepts, Zen Motors, needs a research plan showing each step along the research path. The report will start with the marketing research problem, 8 steps including objectives, design and data collecting, and concluding with how the report should be presented. The research will not be conducted but each step will be de described as to how it will be carried out in relation to how the CEO of Advanced Automobile
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Advanced Automobile Concepts (ACC) is a new division of Zen Motors and the CEO of the ACC division, Nick Thomas, wants to not only increase market share, but look to consumer desire of the brand futuristically, thus reviving the brand. Thomas believes there are two options to accomplish this, either by new car designs or a redesign of current models. Thomas believes that foreign brands are increasing in popularity at an alarming rate and attributes this to fuel efficiency.
Zen Motors makes a high percentage of their profit from larger automobiles. Due to having done well in the past with these vehicles, regardless of a slow decline in market share, there is a reluctance to spend money on the development of new designs. However, consumers appear to becoming more attuned to global warming, green energy, and the knowledge of gas prices increasing, thereby affecting their behavior and purchasing. Nick Thomas must revive Zen Motor brand and has the authority to do
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This is background information that gives light to the issues at hand. Exploratory research will clarify problems that will be the foundation for the next step in research design. Another answer to be determined would be what attitudes are strongly associated with purchase intentions of different automobile models. Relationships will vary around the country and knowledge of whether it is definable in certain market segments, and why, is necessary background information. This is so priorities can be identified to prevent misunderstanding of the information to be
Company's marketing strategy is product driven. There is a lot of emphasis on mass customization. Internet is being used by the company for its marketing and online selling of its products. Company's financial position is strong. It is supporting Corbin Motors financially and is providing a base for its research and development. This business plan is based on a Case Study conducted by Harvard Business School (1999). A standard business plan outline (Berry, 2004) has been followed.
Marketing research is the systematic design, collection, analysis, and reporting of data and its findings relevant to the specific marketing situation that a company faces (Kotler, 2012). By researching the motorcycle rider, Allstate is able to identify who they are and what they experience. In 2008, Allstate conducted a “Who’s Behind the Helmet” survey. They defined their qualifications as a motorcycle owner who is 18 years of age or older with an income of $50,000 or more. (Floyd, 2008). The 500 person sample size produced insightful and interesting details for Allstate. Jeff...
The majority of people, especially in America, cannot go about their daily lives without a car. Automobiles have instilled themselves in peoples’ lives and shown their usefulness since their debut in 1769. Since then, humans have redesigned and refined the automobile thousands of times, each time making the vehicle more efficient and economical than before. Now as the world approaches an ethical decision to dwarf all others, many people look toward automotives for yet another change. The emergence of the hypercar due to ecological turmoil exemplifies the change the world has demanded. Hypercars alter everything people know about automotives, modern ecology, and fuel efficiency. Not only do hypercars offer a solution to many ecological problems humans are faced with now, they also represent the only logical area for the automotive industry, and by some stretch American society, to expand.
The world of technology is ever changing and advancing. With the automotive industry in play technology is constantly surpassing what is available today with what can be done for tomorrow. Technology and the automotive industry go hand in hand with constant improvement to components of cars. Due to technology advancement there is competition within the car industry, especially between American car companies and European car companies. European car companies provide their buyers with innovative variety and revolutionary luxuries. European car technology is superior to American car technology due to their safety, entertainment, and luxury features.
The issue of whether customers should buy FWD and RWD cars is complex and controversial. Different people hold different ideas due to their drive experience and consumers attitudes. On one hand, lots of people believe that only RWD cars represent Luxury and high-performance. On the other hand, the car made on FWD are much cheaper and popular. However, most of customers are blind and ignorant on it. Many of them don’t even know the automobile layout of their sedan after use it for decades.
The business world is becoming more and more heated up as a result of the ever increasing levels of competition. Each and every industry is witnessing an alarming rate in the number of competitors that exist within it. This is further fueled by the increasing world population, which brings about the speculations that the future of the market is rather bright. It is interesting as to how many things are nowadays done based on speculations and future expectations. In the turmoil of it all, marketing has been established as a very effective tool used by various firms to gain competitive advantage over others. As such, each organization has been able to develop its own marketing strategy based on the various things that affect the industry and the nature of business undertaken. Theories and practical research are two major items that form the basis of development of marketing strategies. Rolls-Royce is one of the many organizations that have been in big business for a long time. As such, the company has been able to identify major areas of strength and weakness when it comes to marketing.
This paper will explore points in a Washington Post article titled, "Ford Strives to Meet Hybrid Demand" and explain why changes occurred in its supply, demand, and price of hybrid vehicles. The supplier in this article, Ford Motor Company, has experienced a recent spike in the demand for hybrid vehicles, which will likely continue to increase. The spike has made it difficult for suppliers to meet the demand of its hybrid vehicles.
There are many different automobile companies providing buyers with many styles of cars, trucks, SUVs, and motorcycles. Toronto Star January 14, 2005 present ways to approach the automotive buying process. There are many different surveys, crash reports, and rating systems comparing different companies and their vehicles. Things you should look for when reading these published articles are who conducted the study? Who paid for it? Who gains from it? Who loses? These are all things to keep eye on as some automotive companies will run their own surveys making their products seem overpowering against the competition. Some prove their products are safer then the competition where the competition has been proven time and time again to make that survey seem inaccurate.
...rther then the end of 2010, the introduction of the electric car is not far to come. With proper government regulations and consumer knowledge, adoptability of the electric car is possible. However, one can drastically differ in opinion as to why the required elements to support such a vehicle were not readily planned to facilitate such a change. The inadequacies draw wavering concerns for both consumers and business looking for the return of value and profit. The larger picture needs to be remembered in which oil is not a renewable resource and results in pollution and environmental hazard. Consumers and business must work together to overcome the roadblocks down the road and support each other in the introduction of and future of the electric car. Adjustments will have to be made on both sides to ensure success and minimize the society and economy disruptions.
Having both marketing strategies and both products analyzed and the history of the important marketing decisions made and techniques used by the company written down, it will be interesting to perform a critical analysis of how the market and business realities made an impact on the marketing of Tesla Motors, why it happened and what was the effect. The presence of the CEO and the impact he makes on the public and investor confidence will also be critically reviewed. Based on the results, a list of recommendations will be composed for both representatives and marketing specialists who work in the same or similar
Market Segmentation, Positioning and targeting for BMW 1.1 Introduction This report aims to examine the market segmentation, positioning and targeting of BMW (automobile company). BMW will be examined giving information about the company and where it is now and any recommendations that we feel are appropriate. 1.2 BMW Company Profile BMW was formed in 1917, from the merger of two small aero engine makers. Their famous blue and white symbol stems from the colours of the Bavarian Luftwaffe and is said to resemble the view of the one of their plane through a propeller. BMW is renowned for its sporty, sophisticated & luxury image which has been built up since the 1970's with many motor sport victories ranging from Touring Car to Formula 1.
In 2000, Kia continues to sell a wide range of vehicles. They target a wide range of needs by offering less expensive economic ...
Toyota’s uses both differentiation and low cost as generic strategies to try and gain a competitive advantage over their competitors in the automotive industry. The market scope that Toyota uses is a broad one that encompasses nearly every type of customer that is in the market to purchase an automobile. Toyota is able to target such a large market because they have something for everyone. Toyota has four wheel drive trucks and SUVs for the outdoor types or those who live in areas that face severe weather conditions, hybrid models like the Prius for the eco-friendly customers that are interested in saving the environment, along with the standard cars for general, everyday use. Additionally, Toyota provides vehicles for all price ranges.
One of the very first things a buyer should consider when looking for a car is what kind of car he/she wants. Many different factors can affect the car buying process. For one, the buyer must consider how big of a vehicle he/she wants and safety features like airbags, seatbelts, and working brakes. Itemizing a list of accessories can also help narrow down what kind of car to buy. While some people might prefer a Sedan with a large back seat and seat warmers, others may prefer an extreme luxury car with full stereo systems and miniature televisions. Every person has different tastes in accessories; luckily, there is a vehicle that can fit almost every personality. Most new models have the latest technology installed, although some of the “newer” used cars have the option of adding in those accessories. Once the...
The global company Mercedes-Benz is considered one of the most successful and well-known automotive companies worldwide. Since 1886, the company’s founders Gottlieb Daimler and Carl Benz made history with the invention of the automobile, including the Daimler Group, which is one the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles globally (Daimler, 2013). Their main focus is innovation, safety, technology, style, brand image, expansion, and superior automobiles by offering the best of the best to consumers worldwide. The brand’s philosophy is to continuously create radically new products to advance the cause of human mobility. It is also the number one luxury brand in the United States and Germany while continuously expanding in China and Russia as well (Interbrand, 2013). Mercedes-Benz has a great selection on divisions such as cars, trucks, vans, buses, and financial services offered to any consumer or business. Their global reach has increased tremendously by including production facilities in 17 countries on five continents and having 93 locations worldwide. As a pioneer of automotive engineering, their strategy is to continue the same pioneer role with the ongoing development of mobility, especially in the areas of safety and sustainability (Daimler, 2013). It is very essential for the company to focus on consumers’ needs and their highly well known brand in a competitive global economy. That is why the company Mercedes-Benz releases a brand new model every year to stay on top of its competitors by improving previous models. Some strategies practiced are global marketing, global product development, global product pricing, global advertising, global distribution, an...