Introduction to Marketing

Introduction to Marketing
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Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Explaining consumer decision making process that is applicable for automobile sector............3
Application of Porter's five force to the company in automobile sector.....................................5
Selection of two brands and development of GE Matrix and BCG Matrix.................................7
Explanation of different segmentation, targeting along with positioning strategies that are used
in organisation within the automobile sector...............................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
Any activity and action that is undertaken for communication with customer base in the
manner which persuade them for making purchase decision of products and services of entity is
marketing (Armstrong and Et. Al., 2014). The purpose behind the report is to asses
understanding about key marketing concepts, models and frameworks which are opted by
ventures across the world. The report is all about automotive sector in which brands like
Volkswagen and GM operate business activities successfully. For the report, Volkswagen is
preferred choice. It is one of largest manufacturer of automotive products and popular in terms of
making huge sales.
The report covers process of consumer decision making which is applicable within
automobile industry. It further applies framework of porter five forces of company and
development of GE Matrix as well as BCG matrix for two brands. At last, it includes types of
strategies related to segmentation, targeting addition to positioning strategies which are opted by
the entity.
MAIN BODY
Explaining consumer decision making process that is applicable for automobile sector
Consumer decisionmaking process can be described to a complex subprogram through
which organisations make consumers aware about their needs, collects relevant data, evaluates
options and further makes purchase decision (Bangsa and Schlegelmilch, 2020). In context to
Volkswagen, understanding the process is essential for marketers and managers of a venture so
to align their efforts with stages customer takes for decision which product to purchase.
Moreover, it aids business to recognise marketing opportunities, trends and challenges. The
stages belonging to consumer decision making process that is applicable to Volkswagen in
automobile sector are explained below:
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Figure 1: Consumer decision making Process.2020
(Source: Consumer decision making Process.2020)
Need recognition: Need is major essential element that results in purchasing products of
company. Recognition of need is principal phase of purchase process as each sale begins at the
time when an individual becomes aware about the concept that they have a want or need for
some product. In automobile sector, consumer recognises need of car or other vehicle when their
family becomes big or when they have want to travel at distance place. In this, marketers of
Volkswagen helps consumers to recognise their need and proceed towards other stages.
Information search: The moment when a person recognises the need for specific
product then they reaches to another stage in which maximum possible information are gathered
as possible. The consumers in automobile sector gathers information about any vehicle through
public sources, experiential sources and personal sources. In closest to Volkswagen, customers
collect information about its various cars through newspaper, co-workers, advertisements, sales
people, organisational website and visiting the premise.
Evaluation of alternatives: Once information are gathered then the nest stage is
evaluation of options that are available in market (Zuschke, 2020). For instance, there are various
models of car in automobile sector. In this, marketing team of Volkswagen helps customers in
evaluating options through comparison charts, trend analysis and many other aspects so that
customers are able to make best choices.
Purchase decision: Within the stage, the behaviour of an individual turns into action for
making final purchase. In relevance to automobile industry, consumer makes purchase of the
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