Marketing Plan for Aston Martin: Analysis, Recommendations and Strategies

The report analyzes the current marketing mix of Aston Martin and provides recommendations to improve it. It explores the impact of environmental factors on the company and suggests ways to improve the branding and reputation of its Vantage sports car. The report also discusses the company's product and competitive environment using PESTLE and Porter's Five Forces Model.

MARKETING PLAN

EXECUTIVE SUMMARY
The report has been discussed about the current product and business operations of the
Aston Martin company which is one of the leading automobile sector of UK. In the same
context, the report has been analyzed the environmental factors impact over the company in the
present time. For this, the report has been uses two tools of environmental analysis such as
PESTLE and Posters Five Forces Model. Further, the report has been discussed the current
marketing mix of the Aston Martin company using the 4Ps. Next, the report has been
recommended some techniques with the help of which the company can improve its marketing
mix. Lastly, the report has tried to provide some measures and ways through which the company
can renovate its product called Vantage sports car. The report has also gave recommendation to
company to launch electric and auto driven vehicle in order to move as per the demand and
trends.
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Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................3
Description of Aston Martin and its product...............................................................................3
Exploring competitive organization environment by applying Environmental Analysis Tools..3
Marketing Mix of Aston Martin..................................................................................................7
Recommendation.........................................................................................................................9
Evaluation of ways or measures that can improve the branding and reputation of Vantage
sports car of the Aston Martin...................................................................................................10
Analysis of ways and measures impact over the brand positioning of Aston Martin................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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INTRODUCTION
A marketing plan is basically a part of an overall business plan where various solid
marketing tactics and strategies are used by company in order to achieve the business goals and
objectives. The report will cover the PESTLE and Porter five forces analysis of Aston Martin
company. Further, the report will examine the marketing mix i.e., 4Ps of the company and its
product Luxury Sports Cars. Further, the report will also provide the recommendation to
company for their marketing mix improvement. Lastly, the report will discuss the ways and
strategies with the implementation the Aston Martin company can able to improve reputation and
brand image of its Valkyrie car. In the same context, the report will also analyse the impact of
such strategies over the positioning of brand.
Description of Aston Martin and its product
Aston Martin is one of the leading and British top most company operates in automobile
sector which deals in manufacturing of grand tourers and luxury sports vehicles. It was founded
in 1913 and currently having operations in more than 140 locations globally (Collins, 2020). The
company is currently hired 3000 employees in their headquarters located in Gaydon, UK. The
company has launched one of its new sports car name Aston Martin Vantage which is not able to
generate much sales revenue to the company (Collins, 2020). Thus, the company wants to
revamp and renovate its marketing strategy of the Aston Martin Vantage. The vantage sport car
of the company is one of the fastest and luxurious cars which is an evolution of the 2018 model.
The product of the company is too expensive which is only affordable to rich and wealthy
people. Aston Martin have 108 years of experience in automobile industry and is a type of public
limited company.
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Exploring competitive organization environment by applying Environmental Analysis Tools
In order to explore and identify the opportunities and threats of the Aston Martin company,
the two environmental analysis tools will be applied such as Pestle and Porter five forces model.
PESTLE Analysis
This is an analysis tools which involves the six factors of external environment which
provides both opportunity and acts as a threat for the company. The impact of such six factors
over the Aston Martin company are as follows:
 Political: These factors involve tax policy, trade restriction, tariffs etc. After Brexit i.e.,
uncertainty of exit of UK from EU has create threat for UK based automobile company
including Aston Martin. The company basically faces huge decrement in their Vantage
car sales (Perera, 2017). But on the same side, the stable political environment of
countries create opportunity for the company to expand their business worldwide.
 Economic: Because of global financial crises and covid-19, the economic condition of
the countries are decreases on a large extent. The impact of which consumer income
decreases which affects their buying pattern. As the Vantage car of Aston Martin
company is too expensive so it creates threat for the company that peoples are not able to
afford their products. The credit and market risk due to foreign exchange rates also poses
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threat for the Aston martin company as they sell their Vantage products all over the world
(Perera, 2017).
 Social: This is a factor which defines the taste and preferences of the customers which
are changes over the period of time. Nowadays, consumers such as females are also
preferring cars for their safety and security all around the world. This means that the
social factor is creating opportunity for the company in which they have to produce the
family car as well along with sports car which are easily manageable and controllable by
female customers. Beside this, it is also threat for the company that customers are
preferring more used car rather than new cars because of low budgets (Achinas and et.al
2019).
 Technological: In the present time, people are preferring those products more which
provides them comfort. This means that consumers interest is growing more towards
electrification such as electric cars rather than petrol and diesels car. The perfect example
and competitor of electric car manufacturer is Tesla (Achinas and et.al, 2019). This is a
threat for the company which Aston martin have to consider in order to take competitive
advantage in the whole world. Moreover, the company is providing its sports car products
delivery on time due to fast delivery service is an opportunity for them.
 Legal: This involves the compliance of laws and regulation of countries where the
company have their operations. This is an opportunity for the company to improve its
brand image with the compliance of all the laws and regulation. Basically, Aston Martin
is well known for its compliance of Health and safety laws for the employees that
manufacture the sports car. Not only that, company also follow all the provisions and
rules of vehicle safety at the time of the Vantage sports car production. This is basically
an opportunity for the company to make their strong exitance in automobile industry.
 Environmental: This is a factor which involves curbing greenhouse gas emission for
better environmental conditions. As, Aston martin is a company which follows all
environmental provisions and sustainability at the time of sport cars manufacturing such
as greener car (Gheibi and et.al., 2018). Thus, this factor is an opportunity for the
company along with the trend towards low engine capacity. Aston Martin Vantage is
basically light weight sports car which attracts more and more customers mainly the
people participate in car racing competitions.
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Porter Five Forces Model
This is a model with the help of which the structure and corporate strategies of the company
are easily analysed. In this the strongest forces means greatest profitability and weaker force
means lowest profitability to company. The five forces of this model and its roles in shaping the
automobile industry and Aston Martin company are as follows:
 Bargaining Power of buyer: The number of suppliers in automobile industry which
produces the high-speed sports car are low along with the high product differentiation
within the industry. This means that the buyer will not able to get the similar products
produces by Aston Martin called Vantage which make the bargaining power of buyer a
weaker force within the industry. The impact of which the Aston Martin vantage product
of company is expensive because buyer have no control over its products prices.
 Bargaining Power of supplier: The products such as Aston Martin Vantage which is
basically a sports car with high speed and light weight are unique and different from the
products provide by other suppliers. This means that there is no other substitute of this
product which make the bargaining power of the supplier a stronger force within the
industry (Bruijl, 2018). But on the same side, the number of suppliers operates in
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automobile industry are high which means supplier have less control over price is threat
for the Aston martin company.
 Degree of industry rivalry: The competition among the firms operates in automobile
industry is high which means that it became difficult for the company such as Aston
Martin to take competitive advantage. It is because other company such as Bentley,
Lexus, Mercedes etc. are also produce sports car and give high competition to all firms
operates in same industry. Thus, the degree of industry rivalry is a stronger force
within the automobile industry.
 Threat of new entrants: Entering the industry where Aston Martin operates are
relatively low because it requires lots of investment in research and development. The
high research and development cost along with the strong product differentiation within
the industry make the threat of new entrants force a weaker force. This factor makes
the production for the new entrants costlier (Irfan and et.al., 2019). Not only that, the
customers also look for the differentiated products in order to fulfil their preferences and
dream. Thus, the Aston Martin also produces customized sports car as well.
 Threat of substitute: Basically, there are very few substitute products available to the
customers because Aston Martin Vantage is not just a best design sport car but it’s a
vehicular work of art. There are basically very low industries are they’re that produces
the similar sports car which is produces and designed by Aston martin. Thus, it can be
said that the threat of substitute is a weaker force within the automobile industry. The
impact of which the company able to increase its sales by launching and delivering its
Vantage product all around the world (Mahat, 2019). It is because people love the design
of the sports car manufactured by Aston Martin.
Marketing Mix of Aston Martin
The marketing mix means the strategy of promoting the products and services of the
company so that the customer will attract easily. The current marketing mix i.e., 4Ps of the Aston
Martin for the promotion of their Vantage sport car are as follows:
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 Products: Aston Martin is a British origin automobile sectors which manufacture and
produces the grand tourers and luxury sports vehicles for its loyal customers. The other
projects beside vehicle of the company are real-estate, apparel, monster trucks,
submarines and speedboats. The strategy of the Aston Martin company behind its
Vantage sport car product is that they manufacture the specialised and customized cars
for customers in order to attach their love and emotions with products. Aston Martin V8
and V12 Vantage is a sport car which is hand-built and are considered as one of the finest
and leanest vehicles in Aston Martin products portfolio (Moqiseh, Kazerani and
Shekofteh, 2020). The Vantage sport car of the Aston Martin is petrol-based car which
have light weight and easily handle by its customers during the time of emergency. The
company also provide airbags for the protection of car passengers.
 Price: The price of the vehicle including Aston Martin Vantage is quite high and
expensive which serves as a status symbol to a wealth lifestyle. Basically, the luxury
sports car of the company is not affordable by the middle- and lower-income people
because it also requires higher maintenance cost. That’s why it can be said that the target
market of the company is only rich and affluent class people that do not think twice
before buying their product. The company basically adopted high premium pricing
strategy for its exclusive vehicle name Vantage sports car (Irfan and et.al., 2019). This is
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done by company knowing that their customers are loyal towards their brand image. The
price of Aston Martin Vantage is too high that sometime the company faces decrease in
their sales. It is happened in the year 2019 because of the COVID-19 and reduction in the
income and salary of the people.
 Place: The company basically have international presence which means they also
operates in international market along with the local i.e., UK market. Aston Martin have
presence in six continents that further includes 50 countries all around the world such as
China, Austria, Germany, Canada etc. (Huang and et.al., 2020). The headquarter base and
main manufacturing site of the company is located in Warwickshire, England. Not only
that, the company in order to maintain its brand image has locate its showroom in rich
locations. The reason behind doing so is that, Aston Martin wants only their target
audience to come to shop. Basically, the managers of the stores avoid the customer that
just come only to witness at the cars and not with a purchasing motive (Pepels, 2021).
 Promotion: The company promote its Vantage sport car products on all social media
platforms in order to attract more and more national and international customers. The
company has faces lots of competition in their sales because of the high competitors in
the automobile sector. Not only that, they also advertise its product in print media and
popular magazines so that their products come in direct contact to target customers. The
company basically provides both luxurious and sporty vehicles and sold around 70000
cars in their lifetime (Mohammed and Rashid, 2018). They also announce their products
on Radio and FM which means that Aston Martin product is promoted on each and every
advertising platform. The social media sites have given a platform to the company on
which they can collect and analyse the information, taste and preferences of the
customers.
Recommendation
The following tips and ways are recommended to the Aston Martin company with the help of
which they can improve its marketing mix. The ways are as follows:
 Brochures and business cards: This are way which is recommended to the company
because it helps them backup the information which they can use in future. For example,
with the help of brochures and business cards, the Aston martin save the important data
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for future marketing opportunity. Providing cards to the customers and business partners
helps in reminding them their name and products.
 Linked In: This is an extension version of business card in which the company need to
put their information of Linked In social media network. Aston Martin with the help of
which measure can able to increase their customer base and attract new employees. It is
because people will hear the name of company on the web as well as conferences
(Mohammed and Rashid, 2018).
 Websites and blogs: Another way to improve the marketing mix is introducing websites
and digital technology within their business. Websites and blog post on other social
media platforms helps the people to know about the company products and their
operations. It is also best for building relation with the customers.
 Press Release: This is another way for advertising the business in which the company
uses media to announce their business and any new product launching. Here, in order to
launch its vantage sports car, Aston Martin company can use this technique. The
company need to conduct some special events for this.
 Email: The email service which the company will provide to its subscribers helps the
company name Aston Martin is building the strong relationship and trust with the
customers. Here, the company basically need to list out the events and information they
will share with the subscribers (Huang and et.al., 2020).
Evaluation of ways or measures that can improve the branding and reputation of Vantage sports
car of the Aston Martin
The various ways with the help of which the company can enhance its brand image and
reputation in the national as well as international market are as follows:
 Collection of Positive reviews: The most effective way to improve the brand of the
company is understanding the customers issues and identify their demand. This is only
done by collecting and analysing the review of the customers regarding the Aston Martin
Vantage. In case of any negative review the company again analyse the comments in
order to identify its issues (Lee and Lee, 2018). By doing this, the company can solve
their issues.
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 Clear communicate their vision and mission: If the company communicate its vision
and mission to its key stakeholders then they able to know about what methods they
adopt to produce the vehicles in their company (Alwi and et.al., 2019). This way Aston
martin can able to improve its brand image and reputation in the eyes of society and
community. For this, the company can launch marketing campaign and events which tells
about the operational activities of the company and how they reduce the use of fossil
fuels to protect the environment.
 Doing the work that matters: Another best way to improve the brand image of the
company is allowing their staffs to do the work that matters. For example, Aston Martin
have to engage their all staffs in decision making process rather than only marketing and
sales team. It is because employees are always creative and they can even think best
technique and method which cannot be think by top authorities. Thus, it is advisable to
the company to take views of their employees regarding the modification in their Vantage
product because they are the only one who manufacture it.
 Levelling up company’s products and services: It is advisable to the Aston Martin
company that rather than introducing its Vantage sports car as petrol car they have to
introduce it as electric and auto-driven car (Iglesias and et.al., 2019). It is because
nowadays people like electric vehicles more as compared to other one. This helps in
reducing the high petrol and diesel cost of the customers and also helps in reducing the
pollutions. Not only that, the company need to improve its after sale services in order to
keep their loyal customer satisfied and happy.
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Analysis of ways and measures impact over the brand positioning of Aston Martin
Brand positioning is one of the best ways through which the company can increase its
brand awareness. With the application and implementation of above-mentioned measures, Aston
Martin company can place and position its brand name in the mind of their target customers. The
company need to put their focus on product, price and promotion of its business at the time of
setting the strategies which improve its brand positioning. If Aston company launch its electric
vehicles than they able to compete in the international market with its competitors such as Tesla,
BMW etc. Engaging employees in the decision making will also improves the brand positioning
of the company. It is because it motivates the employees that their company values their
employees thoughts and views. This can also be possible with the implementation of six sigma
theory within the business. The impact of which Aston Martin able to produce its Vantage
product with 99.666% defect free same as done by one of leading company name Motorola
(RIYADI, 2021). The above mentioned measures not only improves or revamp the product of the
company but it also improves the brand awareness within the market. The company uses specific
and unique name and logo as a concept of branding it means the brand of Aston Martin is known
for its name and logo.
CONCLUSION
The report has concluded the brief description about the Aston Martin company and its
sports vehicle such as Vantage. Further, the report has concluded the PESTLE analysis of the
company along with analyzing the impact of porter five forces model. The report has also
concluded the current marketing mix of Aston Martin and the ways they can adopt in order to
improve its marketing mix. Lastly, the report has concluded the measures with the help of which
the company can improve and revamp its product along with analysis of this on their brand
positioning.
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REFERENCES
Books and journals
Collins, B., 2020. Aston Martin: Made in Britain. Hachette UK.
Perera, R., 2017. The PESTLE analysis. Nerdynaut.
Achinas, S. and et.al 2019. A PESTLE analysis of biofuels energy industry in Europe.
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Gheibi, M. and et.al., 2018. Controlling air pollution in a city: A perspective from SOAR‐
PESTLE analysis. Integrated environmental assessment and management. 14(4). pp.480-
488.
Bruijl, G. H. T., 2018. The relevance of Porter's five forces in today's innovative and changing
business environment. Available at SSRN 3192207.
Irfan, M. and et.al., 2019. Competitive assessment of Indian wind power industry: A five forces
model. Journal of Renewable and Sustainable Energy. 11(6). p.063301.
Mahat, M., 2019. The competitive forces that shape Australian medical education: An industry
analysis using Porter’s five forces framework. International Journal of Educational
Management.
Moqiseh, M., Kazerani, M. and Shekofteh, M., 2020. Identifying and analysis of marketing mix
in medical libraries. Journal of Medical Library and Information Science. 1(1).
Pepels, W., 2021. The 4Ps in Marketing-Mix. Research and development. 35. p.38.
Mohammed, A. and Rashid, B., 2018. A conceptual model of corporate social responsibility
dimensions, brand image, and customer satisfaction in Malaysian hotel industry.
Kasetsart Journal of social sciences. 39(2). pp.358-364.
Huang, L. and et.al., 2020. Brand image and customer loyalty: Transmitting roles of cognitive
and affective brand trust. Social Behavior and Personality: an international journal. 48(5).
pp.1-12.
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Lee, J. and Lee, Y., 2018. Effects of multi-brand company’s CSR activities on purchase intention
through a mediating role of corporate image and brand image. Journal of Fashion
Marketing and Management: An International Journal.
Iglesias, O. and et.al., 2019. Do customer perceptions of corporate services brand ethicality
improve brand equity? Considering the roles of brand heritage, brand image, and
recognition benefits. Journal of Business Ethics. 154(2). pp.441-459.
RIYADI, S., 2021. The Effects of Image, Brand and Quality on Customer Loyalty of Sharia
Banking. The Journal of Asian Finance, Economics and Business. 8(3). pp.1315-1325.
Alwi, S. and et.al., 2019. Projecting university brand image via satisfaction and behavioral
response: Perspectives from UK-based Malaysian students. Qualitative Market Research:
An International Journal.
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