Market Analysis Report

This study provides a market analysis of NOTA Sports and Racing Cars and their new brand NOTA Le Mans. It includes target market persona and marketing mix analysis and recommendations.

Market Analysis
Report

EXECUTIVE SUMMARY
This study is based on interim project which is conducted on NOTA Sports and Racing
Cars organisation dealing in auto- mobile sector in Australian. Managers of this association are
launching new brand i.e. NOTA Le Mans under which car has characteristics of both road and
racing car. In this study, there will study about target market persona and marketing mix. Target
market persona assist in collecting information about targeted consumers in systematic manner.
While marketing mix provides complete information about ways to market and promote new
brand among upper middle class consumers which are determined in interim project.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................1
TARGET MARKET PERSONA.....................................................................................................1
MARKETING MIX ANALYSIS AND RECOMMENDATIONS.................................................3
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9
APPENDICES...............................................................................................................................10

INTRODUCTION
Market analysis refers to the study of difference in view of consumers and providing
them better options to attract. There is complete and specific information about understanding
and determining changes properly which are taking place in consumer demand. With change in
consumer demand, there is requirement of changes in products and services, which is possible
with the help of market analysis study. This study is based on NOTA Sports and Racing Cars
which is dealing in auto- mobile sector in Australia. This association is launching new type of
product i.e. NOTA Le Mans which has characteristics of both road and racing tarck
requirements. As there are many consumer who wants racing cars for their joy, so they can
purchase this car for both purpose (Cotti, Dunn and Tefft, 2015). Target consumers of this cars
will be niche consumers who are upper middle class people in the society. In this study, there
will discussion about consumer persona and marketing mix with the help of which scope of
growth and development can be known.
TARGET MARKET PERSONA
Target consumers are the people for which organisation frames policies to attract them.
There is requirement of getting complete and specific information about consumers through
which operations will be completed within specific time through which marketing of consumers
can be possible. Target market persona is the document which contains complete information
about consumers i.e. who, what, when, why, etc. Hence with the help of this document, it is easy
for managers of NOTA racing and sports cars to determine what strategies has to be formulated.
There will ease in understanding and determining marketing strategies, so it is easy for people to
evaluate and determine ways to understand it. There is information about demographics, size,
income, job status, etc. of consumers, so it is easy to attract them and frame policies of
organisational growth and development (Day and Bullock, 2016).
Target consumer persona is important because this provides ease in marketing of new
product NOTA Le Mans and make actions for motivating them to purchase it. As targeted
consumers of NOTA sports and racing car are niche consumers and upper level class in society.
Hence with the help of this document, it will be easy for managers of NOTA to understand and
evaluate best dealing associated with it. Target market persona for NOTA Le Mans can be
prepared with following steps-
1

Target audience- Initially, it is important that managers of NOTA racing car organisation
have to set target audience for which they are launching new product i.e. NOTA Le Mans. As
for this product target consumers will be elite and upper middle class people, so marketing
activities will be farmed according to them. This is the best way through which operations will
be planned and conducted accordingly. There will use of marketing strategies with which people
can communicate best way to deal with it. There is complete and specific information with
managers of NOTA about them, so they can set marketing technique accordingly. When target
consumers are set for NOTA Le Mans new brand, communication startegies and data will be
collected for them only.
Preparing consumer survey- After setting and finalising target consumers, there will
collection of information from target people to know their preference and view about new brand
NOTA Le Mans launched by association (De Franco and et. al., 2015). In order to understand
and determine best way, there will ease in understanding and evaluating marketing strategies.
While collecting information from consumers, it is essential that they might be communicated
about new product properly, so they can get complete knowledge about it. There must be use of
monkey survey software for collecting information.
Preparing marketing persona- After collecting survey from targeted consumers, it will
be easy for people to determine and understand what strategies have to be formulated, hence
lastly consumer persona will be prepared. This is prepared in spread sheet which contains
complete information which is collected from targeted audience in different columns. There is
proper bifurcation of consumers on the basis of gender, demographical basis, etc. hence
marketing team can evaluate and determine information properly.
With the help of above mentioned strategies, it is easy for people to understand and
determine best ways to satisfy their demand. While launching NOTA Le Mans, it will be easy
because marketing managers have complete information, so they can plan actions properly and
communicate complete information to them. This assist in making positive relations and in case
of any query to consumes, they can also take actions for its betterment (Eckardt and Simat,
2017). This target market persona is the way through which business activities will be conducted
in specified direction for achieving aim and objectives, hence their will not wastage of resources
and time.
2

MARKETING MIX ANALYSIS AND RECOMMENDATIONS
Marketing mix refer to the process which provides information about framing marketing
activities with understanding and studying all the marketing prospectives. When any organisation
is launching new brand or coming with some new concept, then they study whole market and
take actions accordingly. This is the best way in which resources and knowledge of NOTA
Sports and Racing Cars does not get wasted. There are seven elements in marketing mix which
covers whole aspect of marketing and it will be easy to launch and market product and services
to consumers. As NOTA Sports and Racing Cars is coming with their new brand i.e. NOTA Le
Mans which has characteristics of road as well as racing car, hence marketing mix of this product
will be performed properly through complete and specific knowledge about conducting
marketing and launching among society will be easy and fruitful (Fry, 2015).
Product- For NOTA Sports and Racing cars, it is not possible to come in market without
any product. As they are trying to launch their brand in society NOTA Le Mans which has
special characteristic of road and racing cars which is not available for consumers initially. This
is the way through which product can be launched and NOTA sports and racing car organisation
can come without new segment. It is recommended that While launching new product, t is
essential that all the engine and other integral parts of NOTA Le Mans must be properly checked
and tested. It is essential that association must launch and confess their idea in confront of
authorised body, so they does not make any issue or hurdle while managers of NOTA sports and
racing cars are launching NOTA Le Mans commercially.
NOTA Le Mans must be according to demand of consumers, so people prefers to invest
in it. As there is fast changing in auto-mobile sector, so it is essential and specific that operations
has to be according to it. Hence technological development in cars has to be done which is not
done by other competitors and provides benefits to targeted consumers i.e. upper middle class
people of Austarlia.
Price- Price is the amount which is charged by consumers in lieu of new brand NOTA
Le Mans launching in market. There are different types of pricing strategy but for setting any one
of them, it is essential to determine any one of them and select best through which consumers as
well as organisation will be benefited (Kassem and Succar, 2017). Price is the sum total of cost
which is occurred in launching car with some specified amount of profits. Skimming price
strategy is one of the best among all the strategies because under this NOTA racing and sports
3

cars will charge high price from target consumers and when other competitors enter in market,
they lower down the price. This pricing strategy is recommended to NOTA cars because when
they are coming with some new brand which is not available in industry, then they have more
scope of earning profits. As target market is middle upper class section, so they will pay higher
price for some new and innovative service offered.
Place- Place refers to the geographical region where organisation is operating and
launching something new. Geographical region where NOTA cars are selling their new brand is
important because it is essential that there must be targeted consumers and other factors which as
infrastructure of society must be accordingly. While marketing of NOTA Le Mans, managers of
NOTA have to determine and evaluate that whether specific geographical region have positive
factors or not. As Australian countries are the targeted place for NOTA Le Mans, then it will be
easy and specific for association to determine and understand requirements of consumers
(Marano, Tashman and Kostova, 2017). While launching, characteristic of consumers and
infrastructure of society has to be considered. It is recommended that Australian countries have
good infrastructure where racing cars are in demand and people can converted it in road cars in
cars of traffic. Burt if people wants to get on long term , then they prefer racing car
characteristic, hence consumers will prefers to purchase NOTA Le Mans which has
characteristics of both.
Promotion- Promotions is most important factor in the marketing mix because these
days, if there is no promotion of products and services, then people does not prefers to purchase
it. These days, people have mentality that they check out products rating, characteristics, etc.
which is possible with marketing activities. It is not possible for people to determine and
understand what actually product is until they get to know about it. This can be possible with the
help of marketing campaigns. Promotion can be done through many measures, such as television,
social media, hoarding, exhibitions, personal selling, etc. There are many ways through which
NOTA can market their new brand but is is essential to select way through which people get
proper information about it.
It is recommended that managers of NOTA racing and sports car has to select best way
through which actions can be performed properly (Monitoring Analytics, 2015). With use of
social media majority of targeted consumers can be tapped. As these days, people prefers to get
full return of their money, hence they compare different brand which is easy and possible
4

through social media. In case of any issue consumers can ask their query and management of
NOTA cars can convey it properly. Apart from this managers of NOTA racing and sports car can
prefers to promote new brand at car exhibitions. This is also best way to promote the brand.
There are some exhibitions which are help by authorised party, when NOTA Le Mans is
presented at exhibition, then people can try over it which gives them immense satisfaction. There
are possibilities of advance booking as well in case some discount and offers are offered to them.
Hence most preferable way of promotion of NOTA Le Mans are social media and car
exhibitions.
Process- In order to launch new product and services for society, there is requirement of
proper planning and management of business activities. There will requirement of determining
and understanding the best way to evaluate and understand specific process through which brand
can be launched (Noelke, 2015). When there is use of specific model of production and making
availability of product to consumers, then it will be easy for consumers, the this builds brand
loyalty among consumers. As there are many organisations which are operating in auto- mobile
sector, hence management of NOAT have to make specific way of processing of various
departments of the company. It is recommended that lean production method has to be used by
managers of NOTA for launching their new brand.
Lean production is launched by Japanese manufacturing units and it is important that
managers of association have to understand and determine the best way through which
operations will be performed with proper planning. With use of this strategy, there will proper
planning for manufacturing of product and services (Yekini, Wisniewski and Millo, 2016). With
use of this strategy, there will less wastage of resources and product will be ready to consumers
within in justified time. With lean product just in time strategy will also used through which
product will be available with proper production time to consumers. With these strategies, there
will proper processing for launching new brand NOTA Le Mans by NOTA sports and racing
cars. While production process is specific and relevant, then there will proper management in
operations and it will be easy for association to tap huge market share in auto-mobile sector.
People- When organisation is operating in industry, then they have to determine and
understand ways through which they can expand and sustain in industry (Ruth and et. al., 2015).
In order to expand in industry, it is important that NOTA have to determine best ways for
sustaining and maintaining long term relations with employees because they are the ways
5

through which operations can be performed in better and desired manner. With dealing and
determining with consumers, there is requirement of skilled workforce through which
consumer's query can be resolved. It is recommended that employees ,must be hired as per their
skills and knowledge and requirement at specified designation. There are many people working
at NOTA through which satisfaction to consumers can be provided. Top level management of
NOTA racing and sports cars are launching new brand NOTA Le Mans, then it is essential that
lower level employees have complete knowledge about it, so they can communicate to
consumers. As top level managers frames strategies but they get knowledge about consumer's
perceptions and queries from lower subordinates and front line managers (Smith, Stehly and
Musial, 2015).
There are many people working in the association for successful launching of NOTA Le
Mans, hence it is recommended to managers of NOTA have to frame policies in lieu of it
through which they are satisfied with work place and tries to give best services to consumers.
This improves brand name of NOAT in auto- mobile industry and they can sustain in industry for
longer time. There must be regular monitoring and guidance to workers through which their
performance does not gets affected. When there is change in any working policies, then it is
recommended that it must be communicated to employees, so their performance does not get
affected negatively. For maintaining, long term and positive relations with workers, it is
recommended that there must be monetary benefits to lower subordinates and non monetary
benefits to middle level subordinates. There must be training of employees, so they can
communicate properly about new brand i.e. NOTA Le Mans to consumers. The more impressive
communication of employees is, the more sales and rating of product will.
Physical Evidence- Lastly component of marketing mix is physical evidence. This is
important for maintaining good brand image in the mind of consumers because of change in
business activities (Vaala, Ly and Levine, 2015). As there is change in operations, it will be easy
for managers of NOTA racing and sports cars. In physical evidence, there will study of physical
presence of association in the mind of consumers. NOTA have major sector of sports cars, hence
people have fair and faith view that they have bright cars colour with high mileage and engine.
With physical evidence only, people have to determine and understand best services which can
be achieved. With physical appearance of cars, people can judge that this belongs to NOTA
brand. Hence it is recommended that this image in mind of consumers have to maintained, hence
6

while launching NOTA Le Mans which is combination of road and racing car must have same
appearance such as bright colour, flatter looks, etc.
From the above discussion, managers of NOTA racing and sports cars came to know
about ways through which people can communicate with each other and it is will be easy for
managers to determine best way to deal with society, with understanding and accepting above
provided options it is easy to improve sales and gets more scope of working for NOTA auto-
mobile organisation (Wheelahan, Buchanan and Yu, 2015). There is short overview of some
above provided recommendations as under-
 For promotion, there must be marketing through social media and car exhibitions with the
help of which upper class people can be targeted and ease in communicate about new
product. This method is better because consumers can easily compare and share their
issues and grievances properly and they can be sorted easily.
 Under pricing strategy, skimming price strategy is recommended because this is makes
more profits for NOTA organisation and cost will reduce when there is involvement of
competitors in similar sector.
 For people, employees must be trained properly through which launching of NOTA Le
Mans is successful and consumer' s issues gets sorted properly. There is requirement of
proper understanding about employee's need through which actions are performed
properly (Wisniewski and Yekini, 2015).
 Under process of production, there must be use of lean production and just in time
strategy with which operations will be completed with approved quality and within
specified time. This assist in determining and evaluating best way to complete the tasks.
 Under physical evidence, there must be similar model with bright cars, so preference of
consumers will same. They have same image in mind and they are ready to avail new
brand NOTA Le Mans.
CONCLUSION
From the above mentioned information, it is clear that target market persona is important
document through which marketing operations will be performed in lieu to achieve positive
returns. This provides complete information, so marketing strategies will be framed for
betterment. There will proper information employees regrading conducting activities and in case
of change , they must be communicate. With the help of marketing mix, managers get to know
7

about ways through which they can communicate to targeted audience properly such as
promotional activities can be done through social media techniques and in car exhibitions. This
assist in completing and understanding ways to get positive impact on operations with launching
new brands.
8

REFERENCES
Books and Journals
Cotti, C., Dunn, R. A. and Tefft, N., 2015. The Dow is killing me: risky health behaviors and the
stock market. Health economics. 24(7). pp.803-821.
Day, C. M. and Bullock, D. M., 2016. Detector-Free Signal Offset Optimization with Limited
Connected Vehicle Market Penetration: Proof-of-Concept Study. Transportation
Research Record. 2558(1). pp.54-65.
De Franco, G. and et. al., 2015. Analyst report readability. Contemporary Accounting
Research. 32(1). pp.76-104.
Eckardt, M. and Simat, T. J., 2017. Bisphenol A and alternatives in thermal paper receipts-a
German market analysis from 2015 to 2017. Chemosphere. 186. pp.1016-1025.
Fry, R., 2015. More millennials living with family despite improved job market. Washington,
DC: Pew Research Center.
Kassem, M. and Succar, B., 2017. Macro BIM adoption: Comparative market
analysis. Automation in Construction. 81. pp.286-299.
Marano, V., Tashman, P. and Kostova, T., 2017. Escaping the iron cage: Liabilities of origin and
CSR reporting of emerging market multinational enterprises. Journal of International
Business Studies. 48(3). pp.386-408.
Monitoring Analytics, L. L. C., 2015. State of the Market Report for PJM. Independent Market
Monitor for PJM Report; Monitoring Analytics, LLC: Southeastern, PA, USA, 2.
Noelke, C., 2015. Employment protection legislation and the youth labour market. European
Sociological Review. 32(4). pp.471-485.
Ruth, M. and et. al., 2015. Effects of home energy management systems on distribution utilities
and feeders under various market structures (No. NREL/CP-6A20-63500). National
Renewable Energy Lab.(NREL), Golden, CO (United States).
Smith, A., Stehly, T. and Musial, W., 2015. 2014-2015 offshore wind technologies market
report (No. NREL/TP-5000-64283). National Renewable Energy Lab.(NREL), Golden,
CO (United States).
Vaala, S., Ly, A. and Levine, M. H., 2015. Getting a Read on the App Stores: A Market Scan
and Analysis of Children's Literacy Apps. Full Report. In Joan Ganz Cooney Center at
Sesame Workshop. Joan Ganz Cooney Center at Sesame Workshop. 1900 Broadway,
New York, NY 10023.
Wheelahan, L., Buchanan, J. and Yu, S., 2015. Linking Qualifications and the Labour Market
through Capabilities and Vocational Streams. Synthesis Report. National Centre for
Vocational Education Research Ltd. PO Box 8288, Stational Arcade, Adelaide, SA
5000, Australia.
Wisniewski, T. P. and Yekini, L. S., 2015, December. Stock market returns and the content of
annual report narratives. In Accounting Forum (Vol. 39, No. 4, pp. 281-294). Taylor &
Francis.
Yekini, L. S., Wisniewski, T. P. and Millo, Y., 2016. Market reaction to the positiveness of
annual report narratives. The British Accounting Review. 48(4). pp.415-430.
Online
How to Find Your Target Audience and Create a Marketing Persona. 2019. [Online]. Available
through: <https://coschedule.com/marketing-strategy/marketing-persona/>.
9

APPENDICES
(Source: 7 P's of Marketing Mix, 2019)
10
Illustration 1: 7 P's of Marketing Mix