Blogging to Communicate: STP Analysis and Marketing Mix of Land Rover
Verified
Added on 2023/06/15
|8
|1912
|253
AI Summary
This blog post discusses the STP analysis and marketing mix of Land Rover. It covers the segmentation, targeting, and positioning analysis of the company, as well as the 7 principles of marketing mix. The post emphasizes the importance of marketing in business decision-making.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Blogging to communicate
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
INTRODUCTION Marketing is the concept that defines efficient strategies to spread the awareness of goods and facilities in market. It provides appropriate analysis according to the market condition at right time to extend global market. The marketing division include several functions in respect to promote the business products and services(Chugh, Grose, and Macht, 2021). The management consider in this report is Land Rover, it is a British brand of auto-mobile sector. It was established in the year 1978. The following report covers the STP analysis and marketing mix of the company. TASK Marketing division of the company deals with promoting goods in market, it is the techniquesthatareutilisedinbusinessbydevelopingthegoodsmoresuitably.Inthe marketplace the customer have several choices and orientation by which the company invest amount on research and development. STP analysis Segmentation–In STP analysis the initial section is to separate the divisions by managing the customers in several factors like age, consumer preferences and so on. It is why the business needstoseparatecustomerintounitsofcandidateswithsimilaraspects.Itoffersthe management huge advantages over competition who utilise approaches. It involves several sort of segments that are as follows -Demographic segmentation –It separate the customer according to age, education and occupationsuchallarethefactorsonthatmanagementdividestheircustomers (Hickman, and Unger,2021). It makes the segmentation more easy for business in respect to satisfy the customers.Geographical segmentation –It separates the consumer as per to the location, region, city, so on. All such are the factors on which the business are recognisable.Psychographicsegmentation –It segmented individuals according to personality, risk aviation, value and lifestyles. It develops the management more efficient by dividing customers.
Behaviour segmentation –It is last section of dividing customers as according to their using behaviour and buying aspect of the customers. It involves choice and preferences of the customers. The management of Land Rover segmented their customer according to the demographic segmentation in terms of age, income and so on. The customers are differentiated as according to their purchase method like frequency, benefits, brand loyalty. Targeting - It is the following section of the STP analysis that targets the marketplace and potential customer to follow the profitability and productivity factor. It involves analysis on the basis of size and potential development of each customer development. It make sure that the management will not decreasing the income by changing your concentration to the lower market place that is basically too low(Mur-Dueñas, 2021). In context to Land Rover, the management is well-known management as globally. The management offers facilities luxurious products and facilities in the field of the market place. The management serves facilities to the premium rich candidates with well – maintained status and who luxurious, fast, quick ride. Most of the rich candidates have desire to get their own personalised car with higher term of quality and advanced services. Positioning - It is final section that manage the targets and aims to identify how management require to position their facilities to target their potential customer segmentation. And presented that why customer should buy the products and facilities than those of the competitors. It also increase the USP of the goods and services in the marketplace it increase the customer that why should they purchasetheproductsfrom thebrand.Basicallyeachmanagementrequiretopositioned themselves as an effective brand in the marketplace(Omoregie, 2021). It maximise their competitive aspects with their challengers. In respect to Land Rover, the management is presenting section of royal and well known pride. The management offers finished products with effective raw material. Marketing mix Marketing is the concept that plays significant role in management in respect to make the management more efficient and productive. It involves 7 principles that makes marketing mix strategies more effective that are as follows -
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Product –It covers the goods and facilities that management sells in marketplace. It offers suitable identification to the business that are offered by the management to their customers in marketplace. The management of Land Rover, offers branded products to their potential customers that are standardise and luxurious cars(Schmuck, 2021). The management have diverse and well-maintained brand models Land Rover Range Rover, Land Rover Defender, Land rover discovery. Customer desires for customized cars from the brand that are effectively advanced and luxurious.Price –It is evaluated as per to the cost of raw material and production chargers and varied other expenses. The management set fixed cost policy according to marginal cost and the cost that should be in budget of customer by which they can effectively purchase. The management should concentrates on qualitative and price. As in context the Land Rover, the management is well famous brand with unmatchable brand value. It have orientated targeted customer who have standardised and premium class. The management has promoted high premium pricing tactics for all their goods that have high luxurious brand value. Being linked with the Land Rover, the brand have various benefits and the industry are capitalise on managing their cost.Process –In this section it will concentrates on the global section of products and provide severaltermofthefacilitiesinaneffectivemannerinrespecttomaximisethe effectiveness and efficiency of the brand. The process should consider that enables with the business in surroundings sustainability(Schoene, and et.al., 2021). In relation to the Land Rovers, the process of the manufacturing and production process are kept on higher level with proper efficiency. It involves well-maintained construction facilities along with screening of employment process that are acquiring by customers that are based on their products. Hence, the management maintaining their effective brand image in market place that offers help in providing brand awareness in an effective and efficient term of the manner.People –The factors of the customer work represent as the manner of changing sales and it also offers help to consumers as they referrals their information with their relatives. Themanagementcanefficientlyholdsuchreferralsbytheircustomersasthe management have loyal customer base. In relation to Land Rovers, the management have well-maintained and effective section to hiring procedure. It also relates to the highly
achieved criteria that are presenting the model and structure of the person who have suitable market action.Physical evidence –This factor of marketing mix concentrates on dealing the physical evidence in respect to established brand values with the evidence of buying aspects. It belongs to the division of the marketing like managerial logo, description as with promotion of goods. The established stores of the company also offers physical evidence (Wirtz, 2021). In relation to the Land Rover, the management supports the direction on supply of physical evidence to their consumer by providing secured and safe goods in terms of their cars. Hence, the management provide receipts after buying the products of the management logo and their name in respect to increase their marketing. It allows the business to extend their marketing of reach of their products to their consumers and accomplish their criteria that enables them to increase the brand awareness of the management.Promotion–Itisthetechniquesofadvertisingthecompanyasglobally.The management also maintain their promotional techniques that are using in an organisation to promote their facilities. Hence, there are two sort of promotion tactics that are traditional and digital promotional tactics that are traditional and digital promotional such as digital media, social media andnewspaper and so on. In respect to Land Rovers, the management utilise the social and as well as digital medium of promotion and advertising to maintain their brand value.Place –It involves the position or the place where the management sales their products and facilities in the field of the marketplace(Yekimov, and et.al., 2021). It is an activity of the business that have to manage for longer term to sustain in the field of marketplace. Such operations and functions are important to maintain the business in the field where they can sustain by having effective positioning in the marketplace. In context to the Land Rover, the management is needed and require to make sure their reach to consumer effectively on suitable position. CONCLUSION From the above mentioned report it has been concluded that, marketing plays significant role in the business of the management. It supports in developing efficient decision making in the
relation that could be progressive and efficient terms in the business. The STP analysis of the Land Rovers that helps in knowing the present market situation of the management in terms of progressive aspects. Such sections are require to maintain the desires and needs of the customers. The marketing mix supports in managing the organisation in developing section for high term of productivity and profitability of the business.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Books and Journals Chugh, R., Grose, R. and Macht, S.A., 2021. Social media usage by higher education academics: A scoping review of the literature.Education and Information Technologies,26(1), pp.983-999. Hickman, C.R. and Unger, S.D., 2021. 11 Societal attitudes towards hellbender salamander conservation.Communicating Endangered Species: Extinction, News and Public Policy. Mur-Dueñas, P., 2021. Engagement markers in research project websites: Promoting interactivity and dialogicity.Poznan Studies in Contemporary Linguistics,57(4), pp.655-676. Omoregie, C., 2021. Social Media in the Workplace and Its Effects on Productivity.Available at SSRN 3856442. Schmuck, D., 2021. Following Social Media Influencers in Early Adolescence: Fear of Missing Out,SocialWell-BeingandSupportiveCommunicationwithParents.Journalof Computer-Mediated Communication,26(5), pp.245-264. Schoene,A.M.,andet.al.,2021.HierarchicalMultiscaleRecurrentNeuralNetworksfor Detecting Suicide Notes.IEEE Transactions on Affective Computing. Wirtz, B.W., 2021. Social Media Business. InDigital Business and Electronic Commerce(pp. 63-94). Springer, Cham. Yekimov, S., and et.al., 2021. Motivating students for distance learning in the context of the COVID-19 pandemic. InSHS Web of Conferences(Vol. 101, p. 03002). EDP Sciences.