Marketing Plan: Camaro Car 2015
- Business Mission
The business mission of Camaro 2015 is encompassed under the Chevrolet’s primary mission which is to be the global leader in transportation products, together with related services. It seeks to provide consumers with continuous improvement anchored on innovation, integrity and teamwork.
- Situation Analysis (SWOT Analysis)
- Global presence: Camaro 2015 benefits from the presence of its mother company, Chevrolet, operations in 200 countries around the world. While the United States is its biggest market, other countries including emerging markets like India and China are providing it with a broadened market prospects for higher sales.
- Technological advancement and product innovation: Camaro 2015 is a product of continuous technological innovation and advancements spanning over 100 years of Chevrolet’s existence. It represents Chevrolet’s strong research and development in motor vehicle segment.
- The parent company is a renowned brand: General Motors which is the parent company for Chevrolet is a reputable brand in the automotive industry, and therefore, Camaro car 2015 will have greater prospects in the market.
- Growing market: the United States automobile market, as well as other markets around the world are expanding thus presenting a strong potential for Camaro 2015 to be on the positive growth trajectory.
Weaknesses-marketing Plan: Camaro Car 2015
- Brand visibility: Following the bankruptcy of Camaro’s parent company, General Motors as a result of the global recession, it has been engaging in reduced advertising leading to low visibility across the media. Failure to receive adequate advertisement will make Camaro to perform dismally compared to competitors.
- High costs of after sale services: Chevrolet has expensive after sales services including high prices for its spare parts compared to competitors. Considering that after sales service is a major factor affecting customers’ purchasing decisions in the automobile industry then Camaro may not hit the targeted sales.
- Strategic alliances: although Chevrolet has few strategic alliances with other firms, it can enter into them with the view of designing and/or redesigning their offerings for Camaro 2015.
- Changing customer groups and lifestyle: there is a growing number of nuclear families coming up and this will increase the demand for cars for their small families thus resulting in upsurge of demand thus benefitting Camaro 2015.
- Market expansion: Camaro 2015 can seek to penetrate into new markets, especially in the developing markets including China and India and African countries thus helping to increase sales.
Threats-marketing Plan: Camaro Car 2015
- Competition: Camaro 2015 faces stiff competition from Chevrolet’s other models and also from other players in the automobile industry.
- Government policies: the policy regarding global warming is increasingly discouraging the use of personal transportation and this may threaten the market performance of Camaro 2015. Also, the regulations relating to reduction of the road permit validity and the issue of fuel prices volatility may affect market performance for Camaro 2015.
- To increase sales of Camaro 2015 and growing Chevrolet’s market share
- To build brand awareness about Camaro 2015
- To target new customers and to enter new local and international markets
- To improve customer relationships
- Marketing Strategy
- Target Market Strategy
Camaro 2015 target market will be the middle-level income group. This is the most critical as a significant percentage of them currently use other car models manufactured by Chevrolet. They also use vehicles imported from other countries but which have near same features as Camaro 2015. In addition, the upper class will be targeted as they have been found to consider this kind of a vehicle as an auxiliary car. Increased awareness about the safety and affordability of this model will be sought. The upper and middle class have been found to be more concerned about these two aspects when shopping for cars, and it is expected that they will highly consider this new brand as it meets these specifications. Many people, especially in the upper class are still not aware about it, and therefore, by targeting this market, they will become aware and put it among their top considerations when deciding which type of car to buy. With strategic and targeted marketing, consumers will be attracted to its latest and appealing features, as well as the new image that it offers to them.
- Marketing Mix
The marketing efforts for Camaro 2015 will be based on the need to expand its market share and enhance the brand loyalty among buyers through customer satisfaction. Therefore, the marketing mix will be designed in a manner that helps to achieve the marketing objectives (Kotler and Philip 65).
- Product-marketing Plan: Camaro Car 2015
Camaro 2015 is built in one standard size and it is available in several exterior colors including black, summit white, red rock metallic, ashen gray, bright yellow, silver ice metallic, and red hot and blue velvet. Its interior colors are black with LS cloth with black seat trim and gray with LS cloth and gray seat trim. It is a sports car which provides an ideal driving experience and high performance (Chevrolet 2017). It has 5-star overall rating in terms of safety. It has a sporty frame which increases status satisfaction and self-confidence.
Chevrolet has distribution outlets worldwide with the exception of Oceania. This wider network offers it substantial presence essential in ensuring that Camaro 2015 gains a considerable market share across the world. Through the available outlets spread across the world, Camaro can reach all those who intend to buy it. It ensures that it gives tough competition to other manufacturers like Suzuki and Toyota. To achieve greater distribution, both direct distribution and indirect distribution strategies will be used. Camaro will be available in Chevrolet’s showrooms in major headquarters around the world. In order to increase the direct distribution coverage, showrooms will be set up in more areas where there is evident potential clientele. This will be necessary in enhancing the control over distribution. In areas where Chevrolet does not have its chain of authorized dealers, the indirect distribution channel will be used so as to sell out cars in these areas.
- Promotion-marketing Plan: Camaro Car 2015
Promotional strategies will be used with the aim of achieving greater sales and enhancing product image and brand visibility (Armstrong, Philip, Michael and Ross 106). Different approaches will be used in making consumers aware of Camaro 2015 in different parts of the world and to attract them towards purchasing it by highlighting its key features. It will also be used in keeping consumers well-informed about its improvements and features. To achieve this, print and electronic media will be used in advertising this car. The other platforms will include telemarketing, flex signs and billboards. Besides, special advertisements will be launched including road shows publications so as to create awareness about this model. Moreover, special events like concerts will be sponsored so as to make the car more familiar with the consumers (Armstrong, Philip, Michael and Ross 118).
The price of Camaro 2015 starts from $26,900 (Chevrolet 2017). It is considered as a fairer price compared to competitors and thereby achieves the objective of providing users with a state of the art car at an economical price. With the target market being the middle and upper class, this price fits into their affordability. The pricing of Camaro is kept relatively lower than that of competitors in the same segment of vehicles, a strategy that is expected to help grasp a larger market share and enable it to compete effectively in the market.
- Implementation, Evaluation, and Control-marketing Plan: Camaro Car 2015
The objective of the marketing plan is to outline the programs, tactics and strategies that will make the sales of Camaro 2015 to increase. There are a number of key performance indicators that are required to be measured for better performance evaluation. These indicators include: the annual and monthly revenue generation, the level of customer satisfaction, and the expenses incurred monthly and annually in the implementation of this plan (Kotler and Philip 102). To ensure compliance with these aspects, advertisement efforts, pricing, strength of distribution channels and the overall performance of the product will be measured. The people who are responsible for the control and monitoring of the marketing plan will include marketing executives, market research departments, production managers, sales managers, and the media and communication managers. Furthermore, there are activities that will be carried out in evaluating the effectiveness of tactics and strategies employed. They include collection and analyzing market data concerning the product, consumers and the pricing trend (Armstrong, Philip, Michael and Ross 89).
Armstrong, Gary, Philip Kotler, Michael Harker, and Ross Brennan. Marketing: An Introduction.
Harlow, England: Financial Times Prentice Hall, 2009. Print.
Chevrolet. Camaro. 25 Nov, 2017 <http://www.chevrolet.com/performance/camaro-sports-car>
Kotler, Philip, and Philip Kotler. Marketing Management. Harlow, England: Pearson/Prentice
Hall, 2009. Print.