digitalised mirror

this is an innovative product that has not been introduced in the market. So think out of the box to do the assignment

Digitalised Mirror

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Macro-environmental factors which impact the auto-mobile industry:......................................3
Market segmentation, targeting and positioning statements:......................................................4
Product Brand Positioning:.........................................................................................................5
Product USP:...............................................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
As with the increasing number of road accidents there is requirement of innovation in
auto mobile sector which help in reducing the number of accidents. Hence, the innovation and
creativity will help the auto mobiles industry in providing safety to customers and will help in
increasing the awareness about safety precautions. As with the enhancement in the technology
there are various ways in which this problem can be solved that is by introducing digitalised
mirrors in the vehicles, the problem can be solved that is it will result in reduction in number of
road accidents. One of the primary reason behind road accidents is overtaking factor and with the
use of digitalising the mirror this factor can be reduced. Basically with the use of this strategy the
present rear view mirror will be digitalised which will help the driver in knowing the exact
distance of the other vehicle. Hence, the driver will figure it out it will be appropriate and safe to
change the lane at the given speed. Therefore, digitalised mirrors will target the immature drivers
so that safety can be provided to them and the price strategy will depend on the model of car.
TASK
Macro-environmental factors which impact the auto-mobile industry:
To analyse macro-environmental forces that impact the automotive industry PESTLE
framework has been taken into consideration:
Political Factors:
 Government all around the world impose strict safety regulations which may have
impact on the industry in positive or negative manner depending on the various
conditions.
 Government of different-different countries are interested in the data of carbon
emission by new and older models of vehicle to ensure sustainability of the nature
and environment (Hoerlsberger, 2019).
Economical Factors:
 Disposable income of the individual all around the world is increasing, as a result
they can spend more on vehicles which further makes them opt for luxury cars.

Social Factors:
 Popularity of driving and cars is developing which means it is common for an
average household to own a car. This has enhanced the sale of cars and other
vehicles.
Technological Factors:
 With an innovation like that of self driving cars it is clear that auto-motive
industry is developing and evolving.
 Increasing safety in auto-motives is another technological advancement which has
given a boost to this industry.
Legal Factors:
 There are a lot of copyright and patent issue faced by organisations in this
industry as most of the features of the cars and vehicles are protected by patents
and copyrights.
Environmental Factors:
 Carbon emission is one of the major threat to the environment and vehicles emit a
lot of carbon. This is a major factor to look upon in this industry.
Marketing and pricing strategy (4P's of marketing)
In context of digitalized mirror the marketing strategy used as follow-
 Product- The motive to bring creativity and innovation in the vehicles to provide
safety to customers. With the implementation of digitalized mirror in the vehicles
the focus is on taking steps to provide safety to customers and reduce the number
of accident cases.
 Price- In the innovation method that is introduction of digitalized mirrors in
vehicles the value based pricing strategy has been used by the automotive
industry. The reason behind using this strategy is to provide value to customers
from the products on the basis of cost and this strategy is used when the product is
innovative.
 Place- They are bringing this innovation at global level with the motive to reduce
the number of accident cases and to provide safety to people.
 Promotion- For promotion activities with the help of various popular social media
platform the information is provided to people regarding the innovation in the

vehicles for the safety of customers and to reduce the number of accident cases.
With the help of visual content the importance and the features are communicated
to people across the globe.
Market segmentation, targeting and positioning theory:
Market segmentation is the process of classifying the target market into groups or
categories for the ease of marketing and selling (Sanguino, Domínguez and Baptista, 2020). This
innovative product can be marketed or sold to different categories:
Demographic segmentation: This classification is based on age, gender, income and
other aspects which has their data available in a statistical form. This product will be used in cars
or sold separately to the custom shops which will be used by drivers of younger generation.
Psychographic segmentation: This classification is based on personality traits, values,
interests, lifestyles and other factors that relate to personality and characteristics of the user. This
product will be available to the people who are safety concious and who are not able to calculate
how and when to take turns and overtake.
Behavioural segmentation: This classification is based on purchasing and spending
habits, user status and brand reactions of the market. This product will be bought by the people
who like to spend on innovations and also on building their status.
Geographic segmentation: This classification is based on the ZIP code, city, country
and other geographical factors. This product will be bought by the people of the specified area
where the product will be sold (Erkayman, 2019).
Product Brand theory:
The product will need heavy promotion and advertising activities which will help in
building the brand position and brand image in the market and among people. It's necessary to
display and communicate the features and uses of digitalised mirrors. This will help the market
to evaluate its benefits and disadvantages too. Furthermore this brand position and brand image
will enhance the possibility of getting new business opportunities.
Product USP (Market leader):
The product will be a leader in the market with none other like it. As it stands on four
pillars of product leadership which are soft skills, business acumen, domain knowledge and
technical skills. As managers are the individual contributors so they need to rely on soft skills in

order to accomplish the motive. Communication is the core strength of the leader as they are
responsible for selling the vision of the product. Furthermore building strong personal
relationship will help in better understanding. The successful products not only helps in solving
the problems but also is quite profitable that is in case of digitalized mirrors. The leader has the
effective knowledge of the domain and it helps in building successful products. And lastly the
product is innovative and is based on latest technology. Hence, product (digitalized mirrors in
vehicles) will become leader in the marketplace. The management have decided to approach
automotive companies who make self driving cars like Tesla, to induce them to use this product
which will help the company to cover more market and make more profit along with providing
exceptional safety to the users.
CONCLUSION
The above report concludes that the product has a high chance of success if the marketing
function is performed efficiently. It also shares the macro-environmental analysis of the auto-
mobile industry which has a huge possibility of growth and expansion.

REFERENCES
Books and Journals
Hoerlsberger, M., 2019. Innovation management in a digital world. Journal of Manufacturing
Technology Management.
Sanguino, T. D. J. M., Domínguez, J. M. L. and Baptista, P. D. C., 2020. Cybersecurity
certification and auditing of automotive industry. Policy Implications of Autonomous
Vehicles. 5. p.95.
Erkayman, B., 2019. Transition to a JIT production system through ERP implementation: a case
from the automotive industry. International Journal of Production Research. 57(17).
pp.5467-5477.