Introduction to Marketing

Introduction to Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
1. Consumer decision making process applicable to automobile sector.....................................3
2. Porter’s five forces model........................................................................................................4
3. Development of Matrix............................................................................................................6
a. The GE Matrix.....................................................................................................................6
b. The BCG Matrix..................................................................................................................8
4. Segmentation, targeting and positioning strategies of Ford....................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Marketing can be defined as activities that organisation undertakes to manufacture,
promote and sale their products to customers. In order to succeed in these activities there are
different elements that requires considering by organisation. Some of the concepts that are
included while carrying out activities of marketing involve consumer decision-making,
competitive forces and target market of the company. This report aims at discussing different
concepts, theories and models of marketing in context of automobile industry. This report will
discuss about consumer decision making process, porter’s five forces model. Later this report
will discuss about GE matrix and BCG matrix, and further will discuss about STP strategies of
the organization.
MAIN BODY
1. Consumer decision making process applicable to automobile sector
Consumer decision-making process is a process that outlines journey of customers that
they go through while making purchase of a product. Consumers decision-making process is as
follows-
Recognition of Need- This is first step of the buying process in which customers feel like they
require car or automobile product to fulfill their requirement. In automobile sector companies has
to determine what customers need and when they need that. Companies when determine
customer requirement in such situation they communicate to customers by means of
advertisements and promotion (Stankevich, 2017). This means realization of customers that they
need certain product and then automobile companies connect their offer with need of customers.
Success of this step is mainly based on efficiency of the organization in targeting right customers
in target market.
Information Search- This is another step of consumer decision-making process. This step
involved search of the product by customers. This means that when customers get to know about
automobile product of their requirement they are likely to search for the product. This involves

making search through search engines and website of the company. Other than this, in
automobile sector customers can also search information through directing contacting dealers
and by test drive of vehicles. This is very important that automobile organizations provide all
required and adequate information to consumers when they make search for the product.
Adequate information helps them in making right decisions for the product.
Evaluation of Alternatives- This is another step in which customers will make search about
alternatives of a product. For example- customers are looking for a luxury can then they will
make search about different alternatives (Block and et.al., 2016). This will be followed by
evaluation of different alternatives in luxury cars and customers in this step of buying process
aims at identifying which alternatives is best to fulfill their requirements. This means that
customers can make evaluation in BMW, Audi, Mercedes and other luxury vehicles. Evaluation
of these models will help customers in analyzing what product offers desired characteristics,
price and value to customers.
Purchase Decision- This involves making purchase of the product that is best suitable for the
customers and fulfils their requirements. This decision of customers is based on information
gathered through different sources that are online and offline and pre-purchase trial of the
product and its uses. At this stage customers make purchase and complete transaction. Decisions
get affected by several factors that are information gathered and knowledge collected by
experience.
Post-purchase Evaluation- This involves making post-purchase evaluation and customers
express their experience of using the product. Post-purchase evaluation also expresses customer
satisfaction in which customers share their experience and what value customers have achieved
by their purchase (Kanagal, 2016). Post-purchase evaluation also has effect on product image
and quality of the product and also effect purchase decisions of other customers who are willing
to buy products of automobile customers. For the purpose of post-purchase evaluation it is
important that organization provide right and adequate customers services. In automobile
industry customer services are very important for the purpose of customer satisfaction.