MARK 301 FUNDAMENTALS OF MARKETING

MARK 301 FUNDAMENTALS OF MARKETING

Report on Marketing Comparison

In this assignment, you will use marketing ideas to describe marketing choices made in relation to a group of already-existing products in order to demonstrate your understanding of those concepts. You will choose three products from the same product category that are marketed to each other in pairs.
Different target markets (i.e., rival products rather than rival brands). You will contrast and compare the marketing circumstances these items encountered and the choices/decisions made in relation to their marketing.

Which products should you select? First off, although they are in the same “product category,” the products should be somewhat varied. For instance, if motorbikes were your thing, you might pick one of the following three items:

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Sporting Goods Ducati Monster 1200 S MSRP $17,500
Honda GL1800AL Gold Wing Touring MSRP $31,500
KTM 500 EXC Enduro MSRP: $11,800

Despite the fact that all three are “motorcycles,” their functions are extremely different. If one company offers all three of the things you want to investigate, use caution. There might be an excessive amount of similarity between the products if the same company sells them. Second, you need to be really specific about the merchandise you select. For instance, I’ve noted a particular model in the chart above of the “Monster,” which Ducati manufactures in a number of variations. Third, pick products that you are somewhat familiar with and interested in. Choosing a product that you are interested in will make the process easier because you will be spending quite a bit of time over the coming weeks researching the options.

Fourth, make an effort to choose goods for which there is information available. For instance, finding information about motorcycles is not difficult. Finding information on bookends, picture frames, or three-ring binders could be challenging. You are welcome to investigate a product supplied by a company you have a personal relationship with (such as a family business, a relative, or the place where you work), but your work must demonstrate your ability to analyze the product (and the company that offers it) objectively.
Sessions for Posters
Through poster sessions, you will present your comparison to the class. You will contrast the goods at the first poster session in terms of:
• the companies that advertise the products (description, significant strengths, and weaknesses of each company with regard to the products you are researching).
• the market environment (description and the main possibilities and dangers faced by each product) in which the items are supplied.
• the target market and purchasing patterns for each product (a description and estimation of the target market’s size).

You must include all the data needed for the first poster session as well as a comparison of the items based on the components of the marketing mix in the second poster session.
You will provide a bibliography of your data sources for both poster sessions. The APA style should be used for this bibliography.
The following criteria will be used to assess the two poster sessions:
First and second poster sessions
The company promoting the product emphasizes its
important positives and negatives.
5 Information from Poster Session 1 summarized.
5
The competitive landscape for each product, showcasing the essential components for each product

5 The given product, which includes its life-cycle stage, branding, packaging, etc. (The three-level model may be useful in this case.)

5
The target market and essential behavioral characteristics of each product’s target market.

5 The physical and digital distribution channels that are being employed for each product.

5
how each product is positioned in relation to its main rivals.
The combination of advertising strategies being employed for each product.
5
The distribution of the value that is determined for each product’s price
a rough idea of the cost structure that the company that markets the product will be exposed to in relation to various members of the distribution channel.
5
Bibliography (quantity, range, and caliber of sources)
5 Bibliography (source quantity, variety, and caliber)
5
Style/Professionalism 5 Style/Professionalism 5
Total

30

Total

35

Luxury Vehicle
Quattroporte S Q4 by Maserati
MRSP $ 121,400
excellence coupled with zeal.
The brand’s objective is to “Build ultra-luxury performance automobiles with timeless Italian style, accommodating bespoke interiors, and effortless, signature sounding power.” Their tagline is “Luxury, Sports and Style Cast in Exclusive Cars.”
The S Q4 sports a 404-horsepower twin-turbo V6 engine and a sophisticated four-wheel drive system.

SWOT evaluation
STRENGTHS
1. excellent involvement in racing and motorsports creating a strong brand identification
2. One of the first automakers that has continuously improved to achieve perfection
3. Offering clients options to choose from, with a variety of products (GranTurismo, GranCabrio, & Quattroporte)
4. offers services including financing and warranty support.
5. Genuine and trustworthy brand
6. Excellent styling and design

WEAKNESSES
1. a small product range in expanding markets
2. Limited market share results from intense rivalry.

OPPORTUNITY
1. accommodating and growing the automotive industry
2. Gain the upper hand in the hybrid and concept car segments by moving early.
3. gain more clients by expanding your market presence
4. Affluent consumers are more likely to buy multinational brands
5. expanding the network for distribution and services

THREATS
1. considered to be an extremely expensive brand, which may result in limited exposure to potential customers
2. competition from other luxury and sports car manufacturers
3. Competitive product innovation and cost-effective engineering

IMPORTANT COMPETITORS
1. Ferrari
2. Lamborgini
3. Buggati
Scan of the Environment

COMMUNITY FORCES
-Demographics: Baby boomers make up a large portion of Maserati owners, since their passions mirror their care for their offspring, grandkids, own health, and retirement. Baby boomers yearning for luxury and performance should consider the S Q4.
-Culture: Maserati customers are known for demanding the highest quality, features, and performance, thus they are highly VALUE CONSCIOUS.

ECONOMIC STRENGTHS
The Maserati Quattroporte S Q4 is a car that upper class executives with a lot of extra money choose to buy the most. A very opulent family vehicle is another possibility.

COMPUTING FORCES
While retaining a look that is consistent with the company identity, Maserati has sought to improve the involvement and contact with fans, enthusiasts, and owners on various social media platforms. increasing the reach and efficacy of web communication in accordance with specific marketing goals.

CONCURRENT FORCES
The word “quattroporte” means “four doors” in Italian, but you don’t need to know the language to understand that a sedan with theatrical flair is promised by the howling engines and curved sheetmetal.
The S Q4 has two turbochargers and an eight-speed automatic transmission. It also adds all-wheel drive. Chrysler’s Uconnect is a plus, but the parts-bin switchgear is not. Inside, the leather is luxurious.

REFERENCE MARKET
DEMOGRAPHIC:
• Buyers of Maserati vehicles often have annual salaries of at least $500,000 and net worths of over $1 million. Only 1% of customers when Maserati returned to the United States were female. They are now 16%.
• Most Maserati owners are 45 years of age or older.
GEOGRAPHIC:
The United States accounted for the majority of Quattroporte sales.
• Their primary goal is to increase sales in China.
PSYCOLGRAPGIC:
• In the end, such cars (QUATTROPORTE S Q4) function as genuine indicators of one’s high social standing, much like the peacock’s tail functions as a genuine indicator of phenotypic excellence.
BEHAVIOURAL:
• Due to the fact that they are purchasing a car from a niche market, owners of this car have a very good reputation in the automotive industry.
• Luxury and exclusivity are a couple of the motives for consumers purchasing such pricey automobiles.

In Full-size Luxury Cars Ranking
1. Audi A8
2. S-class Mercedes-Benz
3. 7-series BMW
4. Quattroporte Maserati

Sporty vehicle
Peugeot 206 GT3
MSRP $ 148,800
There is no alternative.
“At first, I searched the area but was unable to locate the type of vehicle I had been picturing: a compact, light-weight sports car that was energy-efficient. I so decided to construct it myself.
Porsche places a lot of emphasis on:
• Customs
• Originality
• Creation
• Utilization
• Efficiency
• Continual usability
The exclusivity
• Acceptance in Society

SWOT evaluation
STRENGTHS
1. high global brand recognition and reputation
2. preferred by extremely wealthy elite consumers because to the high cost of each model
3. Several car models, but many different variations. hence benefits from brand expansion
4. a well-known brand that combines sporty qualities with ultimate style
5. One of the most recognizable, top-of-mind, and well-liked luxury vehicle manufacturers
6. has more than 12,000 employees worldwide
7. is well-known in both the gaming and racing industries.

WEAKNESSES
1. lack of presence in the incredibly fast-growing middle income group
2. High operating and maintenance costs in the fiercely competitive luxury automobile sector

OPPORTUNITY
1. Profit from exclusivity to boost sales.
2. next models and concept vehicles
3. Expanding the production, distribution, and servicing networks
THREATS
1. Government regulations in several nations
2. upcoming recession that could reduce buying power
3.Hard rivalry from industry behemoths

IMPORTANT COMPETITORS
1. BMW
2. Audi
3. The Mercedes-Benz
4. Ferrari
5. Jaguar
Scan of the Environment
COMMUNITY FORCES
-Demographics: Because the GT3 is a more expensive vehicle in the automotive market, baby boomers are the generation most likely to buy one. Due to their propensity to be open to anything that helps them appear and feel younger, like what the sleek GT3 will do for customers, baby boomers are also the most probable cohort.
-Culture: Porsche customers are known for demanding the highest quality, features, and performance, thus they are highly VALUE CONSCIOUS.

ECONOMIC STRENGTHS
The Porsche GT3 is a car that upper class executives with a lot of extra money tend to buy the most.

CONSTITUTIONAL FORCES
Porsche has increased their online visibility in the twenty-first century. According to Robert Ader, Director Marketing and Communication, “For us, ensuring a consistent, highly emotive user experience on all end devices is the key to achieving a uniform, digital brand presence”.

CONCURRENT FORCES
Advantages: in comparison to other sports car competitors, it has a marginally higher power rating (435 HP @ 7,600 RPM vs 305 HP @ 6,000 RPM), a significantly quicker 0-60 time (3.8 seconds vs 6.5 seconds), a significantly higher top speed (193 mph vs 144 mph), is marginally sportier (7.1 lb/hp vs 11.1 lb/hp), and has optional roof rails (vs unknown).
Cons: On average, it only has a naturally aspirated engine (no turbocharger), gets significantly less mileage from a tank of gas in the city (248 miles vs. 330 miles), costs more ($113,150 vs. $36,910), and gets slightly less mileage on the highway (21 mpg vs. 27 mpg).
RESTRICTIVE POWERS
-The Performance Specs of the GT3 are subject to some rules. If high performance sports cars are to be sold in all market segments, they must comply with street legal regulations.
REFERENCE MARKET
DEMOGRAPHIC:
• The average household income of a Porsche owner is over $100,000; 85% of owners are men and 15% of owners are women.
• The average Porsche owner is between 40 and 54 years old, but Porsche is aiming for a slightly younger audience with its “Engineered for magic, every day” campaign.
GEOGRAPHIC:
• Porsche is an international brand with locations in major cities on every continent.
• The manufacturer has divided the market into four zones and has dealerships in the country’s largest cities.
PSYCHOLGRAPHIC:
• A person that fits the top gun description is ambitious, focused, and concerned with power and control. They also anticipate attention.
• A person from old money (blue blood), who believes that a car is merely a vehicle and not an expression of a person’s personality, fits the elitist description.
• The Porsche is a trophy in the eyes of the proud owner, who views ownership as a side benefit rather than the primary objective.
BEHAVIOURAL:
• Porsche charges a premium for its high-quality goods.
Porsche is a lifestyle brand because of its illustrious history and positive connotations with its products.
Premium Sports Car Ranking
1. Porsche 458
2. Huracán by Lamborghini
3. McDonald 650S
4. Peugeot 206 GT3

Family vehicle
Hybrid Honda Accord
MRSP $29,305
The ability to dream
The Honda brand has the following five values:
High caliber
• Affordable cost
• protect the global environment
• modern technologies
• minimizing fuel use
SWOT evaluation
STRENGTHS
1. Honda sells cars in more than a hundred countries and is the sixth-largest automaker in the world.
2. Excellent after-sales support, branding, and advertising
3. More than 180,000 people work for Honda worldwide.
4. A production system that has been improved over time in conjunction with very effective research and development
5. Strong brand equity and consumer brand loyalty
6. presence in F1 and other motorsports
7. Honda’s Prius improved brand recognition.
WEAKNESSES
1. Honda’s cost structure is higher than that of other automakers.
2. Restricts the consumer base by catering primarily to the upper middle segment
3. Honda had to recall a couple of its models in order to take corrective action, which generated a lot of uproar.
OPPORTUNITY
1. Future automotive development will focus on fuel-efficient and hybrid vehicles.
2. Tapping global emerging markets and creating a worldwide brand
3. Rapidly expanding auto industry

THREATS
1. global government initiatives for the car industry
2. ever-rising fuel costs
3. fierce rivalry from international auto brands
4. alternative public transportation options, such as buses, subway trains, etc.
IMPORTANT COMPETITORS
1. Chevrolet
2. Toyota
3. Nissan
4. Hyundai
5. Fiat
6. Mitsubishi
7. Honda Udyog
8. by Tata Motors

Scan of the Environment
COMMUNITY FORCES
-Demographic: Generation X is the generation most likely to buy an Accord Hybrid since they tend not to make expensive purchases and frequently live conservative, practical, and traditionalistic lives.
ECONOMIC STRENGTHS
The Accord Hybrid draws buyers from all income brackets since it is an inexpensive car for middle-class families while also having the aesthetics and environmental effect to draw upper-class executives who do not require a flashy vehicle to signify their wealth.
-Consumers who buy this car could or might not have extra money in their budgets.
CONSTITUTIONAL FORCES
Honda used their Facebook page as a venue to announce new campaigns and share information about events, product releases, and discounts. As an illustration, consider Honda’s most recent “Power of Dreams” social media marketing campaign, which aims to engage customers with issues like innovation, environmental leadership, and social responsibility.
CONCURRENT FORCES
-Accord owners will discover that their cars are trustworthy, hassle-free machines. An Accord establishes rapport by upholding its family-car promise: Five people fit comfortably, it uses little gas, and the trunk is prepared for Costco.
This is the reason why the Accord is rated as the best family sedan by Car and Driver.

RESTRICTIVE POWERS
-For a car to qualify as a hybrid, Honda must abide by safety and fuel economy standards to ensure that it may be sold to consumers.

REFERENCE MARKET
DEMOGRAPHIC:
• While younger generations still value the Accord’s family-friendly features, they now have higher expectations than their parents did, particularly in terms of performance and elegance.
GEOGRAPHIC:
• North America and Japan account for the bulk of Honda sales.
• Due to commuters’ increased interest in fuel efficiency and environmental awareness, hybrid vehicles are more common in urban areas.
PSYCHOLGRAPHIC:
• Honda is regarded as a “green” brand by customers.
• Those who are concerned about the environment are drawn to the Accord Hybrid.
BEHAVIOURAL:
• Honda provides a high-quality product at a fair price with minimal servicing requirements.
Why Honda customers frequently buy from them again and take pride in the Honda name.
• Driving a hybrid car has some stigma, even though Hondas don’t have the same high reputation as some other, more costly cars.

In family sedans, place
1. Honda Civic
2. Toyota Mazda 6
3. Fusion Ford
4. Vehicle Passat

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