2.1 to make the customer. The biggest advantage

2.1 Importance
of marketing for a successful business:

Marketing
plays a vital role in any business to make it successful, it is impossible to
simply put out a great product and expect to get financial rewards. As
marketing completely expose product and brand it is the most effective way to
make your customers aware of your product. Marketing has very deeper effects on
your business and its cash flow. Investment in marketing is equally important
as you are investing in your products. While you are not marketing your product
effectively your business will start facing a serious financial cut back
because very fewer people are finding your product and they are becoming loyal
to your competitor and your brand will lose its visibility.  A steady marketing
strategy is important if you want to stay relevant, and if you want your
customers to have confidence in your brand.

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Marketing create a specific image in
the brain of consumers. Main target of any business is to create image and
combine benefits to make the customer. The biggest advantage of marketing is
that the products are being recognized in the mind of customer at first level
this is through direct advertising and promotions.

2.2
Marketing plan and its importance:

A
marketing plan gives a well ordered guide for what you are burning through cash
on and when. It empowers you to spending advertising costs – helping you keep
control of your uses, deal with your income, track deals to showcasing cost
proportion, and measure achievement of your promoting endeavors. It
additionally guarantees that item advancement dollars are not squandered. A
good marketing plan can help you assure that you’re using your resources in
most effective way. An effective marketing plan should be based on following
things.

2.2.1
Situation Analysis:

It tells you
about market place of your product and what will be your targeted market. It
also provide you the current trends and competitors of your product in market
and how you will be different from them.

2.2.1
Target Market:

What
age group will you be targeting Will your product or service appeal more to men
or women, single or married? The list goes on about the things that you could
learn about your customers, but the important point is this: the more that you
know about them, the better you’ll be able to connect with them in a way
that will be meaningful to them.

2.2.3 Marketing
Strategy:

The marketing strategy
addresses the 4 P’s of marketing product, price, promotion, and place.
Basically, what is your product and how it is different, how will you price it,
how will you promote it, and where will you sell it.

2.2.4
Objectives & Tactics:

Once you’ve recognized your methodology, you have to make sense of how to
execute it. You can set goals to meet and distinguish the strategies that you
will use to meet those targets.

 

2.2.5 Sales
and Budget:

Your marketing plan can
also include a sales forecast and an advertising budget. The
business projections will diagram your business focuses on a month to month
premise. Your spending will determine the amount you will spend and when. The
blend of offers and spending will enable you to know about the amount you are
spending on advertising and how much income you’re producing therefore.

2.3       Why
customer will going to buy your product:

Just as the business of automobile is expanding day by day and has
become an important part of the economy
and the society. The car has become a
part of today’s busy life every person want to
have it’s own private car that result in huge expanded business and demand of
automobile not only business and demand have been increased but also the
compitition between companies offering different brands of automobile has been
increased, every company Try their best to come up
with an extraordinary automobile, which can fulfill all of the customer
requirement and have an updated features and performance than in old model of
that brand.

Launching
new model with updated features and adding more options in automobile is not
enough the customer will never get to know about your product until he didn’t
heard good things about that product, seeing someone using that product or
seeing someone repudiated personality to promote that product.

2.3.1
Trust:

Trust
is described as an Assumption of one party that other Function will be
accomplishing their Demands and requirements. As long as services are
Exercised, trust is the morale that customers obtain on the provider of
services to achieve their needs. Primilarly trust can be explained as
confidence that one party has on someone else because of sincerity and efficiency of the other
association (Morgan & Hunt, 1994). This explanation can be probably applied
in different directions, including transaction of goods and services. (Doney
and Cannon  1997) study that trust is
formed of two aspects: perceived credibility and benevolence.

2.3.1
Reputation of concerning brand:

Brand
notoriety alludes to how a specific brand is seen by others. A great brand notoriety
implies buyers confide in your organization, and like buying your merchandise
or administrations. A horrible brand notoriety, be that as it may, will make
buyers doubt your organization and be reluctant about acquiring your items or
administrations.

While
companies used to be able to shape their brand reputation with ease using
traditional advertising and public relations, it is much harder to keep others
from damaging your brand without online reputation management in today’s world.

To
keep their reputation and brand companies must have to follow the following
things as listed below:

·        
To identify all positive and negative
aspects of business over the year

·        
Maintain consistency and accuracy in
business activities

·        
Assessing where in business or marketing
activates you are not going on track

·        
Reviewing and understanding your
competitor’s  business and marketing
strategy

·        
Monitoring for brand mentions and
sentiment

·        
Working on recommendations to maintain
your worth

·        
Improving your work plan and strategies.

2.4       Best
Marketing tools/strategies for automotive dealers:

Just
as new car models are released each year, the way in which you market your auto
dealership should take on a new model year after year. To make the most of your
marketing initiatives it’s important to stay up to date, understanding new
trends in technology and advertising options that can help your business.

Here
we have some strategies and tools for best marketing of automobiles:

2.4.1
Marketing automation software:

It
allows you to market on different public platforms and to automate your
repetitive nature tasks.

The
best part about marketing automation software is to gather information of the
customers the best part of software is it understand the buying habits,
interests, geographic information, and more helps you nurture leads and
potentially turn them into customers.it can also gather emails from interested
parties but however the main disadvantage is that marketers begin buying lists
of email addresses to nurture instead of generating inbound leads. While it
seems like a quick fix, it’s not a long-term solution, nor does it create the
fertile ground for a healthier, longer relationship with your future customers.

So
you can avoid this generating inbound leads by offering relative content to
potential customers.

2.4.2
Social Media Management Platforms:

Web-based
social networking is a vital piece of your promoting endeavors, enabling you to
create leads and instantly observe the achievement (or not) of crusades through
gathering of people engagement. A more youthful and more tech-accommodating
group of onlookers is utilizing online networking to settle on educated auto
purchasing choices. Auto News shares that “In 2013, Market Share presumed
that Twitter drove $716 million in automobile deals among those 20 nameplates
through Twitter Ads, positive brand notices, enhancement of TV promoting and
the Twitter movement of the automakers themselves.”

If
that’s not convincing enough, take a look at these 2014 stats from the CMO
Council:

·        
23% of car buyers use social media to discuss
or communicate a recent purchase experience.

·        
38% of consumers report they’ll consult
social media the next time they purchase a car.

·        
84% of all automotive shoppers are on
Facebook, with 24% using the platform as a resource for the purchase of their
last vehicle.

Facebook
enables you to achieve your statistic with focused promotions and the capacity
to discover supporters from your membership database on the stage. To keep up
engagement consistency is critical. Consistently plan substance and offer
recordings, and in particular, react to inquiries and remarks when they emerge.

2.4.3
Website Chat:

Offering
a chat feature on your website gives you the opportunity to engage potential
buyers visiting your site, answering questions and discussing features, as well
as lengthening the amount of time prospects remain on your site.

We
Make Websites lists several benefits of offering live chat sessions on your
website, including convenience (customers want quick assistance), building
trust and the ability to make recommendations based upon information gleaned
through a chat session.

 

 

2.4.3
Pay Per Click Advertising:

Another
sought after showcasing choice for automobile merchants is pay per click
publicizing, in which you pay for deliberately put advertisements to direct
people to your site. For instance, you can utilize Google AdWords to target
clients utilizing painstakingly chose catchphrases. World Dealer Advertising
talks about the advantages of PPC, including catching the online market and the
cost viability of utilizing this approach.

You
can utilize pay per click publicizing to target potential clients in your land
territory, those performing web looks for specific auto models you offer, and
significantly qualifier watchwords, for example, “shabby” or
“utilized”.

2.4.4
Targeted Advertising:

With
the ever growing use of smartphones, targeted advertising offers the ability
for you to further narrow your advertising efforts with mobile ads. Not only
can you target prospects searching for a specific vehicle, you can also target
your ads to reach potential customers within a geographic area and based upon
their buying habits.

Frost
Pride au, CEO at Simplify, provides a great example of the importance of
targeted advertising used in this interview with Street Fight, saying “in the
auto industry the Toyota dealer in Palo Alto, Calif., has a lot full of Priuses
and hybrid cars on its lot, and is after a very different audience than the
Toyota dealer in Fort Worth, Texas, where they have a lot full of Tundra’s,
pickup trucks and SUVs. If you were to apply a national audience segment to
local Toyota dealers you’d be targeting an audience that wasn’t ideal for
either of them.”

You
can further hone your results with targeted contextual ads, as they are aligned
with web content directly related to your business. For instance, if you are a
Ford dealer, you would align your ads to content that is written about Ford
cars, buying Fords, and the cost effectiveness of Ford vehicles. To see how targeted
contextual ads work and look, take a look at this example on Dealer.com.

The
online arena is ever-changing, but you can capitalize on your digital marketing
efforts by using marketing automation, social media, web chats, pay per click
advertising, and targeted ads.

2.5       Factors
affecting the business of automobile even after strong marketing:

The
automobile industry crisis of 2008–2010 makes us wonder what the factors which
lead to such a crisis are. Let us discuss in detail the various demand and
supply factors which affect the automobile sector.

2.5.1  Financing Options:

Car
industry onlookers refer to auto credits as the greatest driving element for
the expansion of the Compact Car fragment. At display, very nearly 85 for each
penny of all new auto deals are supported via automobile back, contrasted with
65 for every penny five years ago. Interest rates on auto credits have
descended definitely in the previous four or five years, which enables
forthcoming purchasers to dive in. The development of the CC-portion in the
previous couple of years can be chiefly acknowledged to elements, for example,
ascend in pay levels leading to expanded moderateness and concurrent
diminishment in loan fees prompting lower EMIs. The drop in loan costs as a
rule causes not very many individuals to likely move from the base model to a
choice model. A bigger move happens if individuals are eager to take long-term
credits, similar to five years rather than the prior three-year advances.

2.5.3 Advertising
And Marketing:

Due
to the advertising techniques adopted by all the manufacturers in the
CC-Segment the sales have risen drastically. It is all due to because the
companies now days are using even aggressive selling techniques for which they
are even coping with the Film celebrities and Cricket stars, like Maruti has
contracted Irfan Pathan as the brand ambassador of Zen and for Santro Hyundai
has contracted for Shah Rukh Khan. And the companies are even trying to
approach to the customer as to their demand for a vehicle at special interest
loans, etc. They are using data according to the customers return and earning
capacity for attracting the customers for their vehicles.

2.5.4 Price
Of The Car:

One
of the main considerations that influence the request of any ware in the market
is the cost of the item. As the law of interest additionally expresses that
with an expansion in value the request of the product declines and bad habit
versa. Since, in the minimized auto section advertise even there are less
contenders there is stiff value rivalry. Like the cost of Zen in 2001 was Rs.
3.93 lacs which increased to Rs. 4.01 lacs in 2005, yet at the same time the
offer of the Maruti mark continues on increasing it was because of the
organization’s notoriety with the clients

2.5.5 Income
Of Consumer / Buyer:

The
income of the consumer or buyer of the car is a very important factor of
demand. In recent time we have seen that due to increase in the Income of the
general public, there has been a shift from the Lower CC-segment cars to the
Upper CC-segmentcars.2. Due to the recent increase in the number of
multinationals in India, the income level of the employees have risen
drastically and has made CC-segment cars an entry level car for a lot of
people. The average age of a CC-segment car owner has also dropped from 35
years to 31 years.

2.5.6 Increase
In Affordability:

The
interest for traveler autos is driven chiefly by more prominent reasonableness,
which in turn increases the yearning level of the clients. Today with high
measure of disposable income in the hand of Indian youth, who frames
significant segment of the populace, PVmarket has bigger addressable market.

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