Principles of Marketing: Volkswagen's All Electric Vehicle Concept

Principles of
Marketing

Table of Contents
INTRODUCTION...........................................................................................................................2
MAIN BODY...................................................................................................................................2
PRODUCT/SERVICE DESCRIPTION..........................................................................................2
A) A brief description of the new or improved product or service that is the focus of the
company.................................................................................................................................2
MARKET ANALYSIS....................................................................................................................3
B) Including a brief analysis of the market............................................................................3
C) Key market trends of electric vehicle in the UK...............................................................4
D) Analysing the key competitors..........................................................................................4
E) Summarising the current customer attitudes/behaviours in the market.............................5
SEGMENTATION, TARGETING AND POSITIONING (STP)...................................................6
F) Segmentation......................................................................................................................6
G) Summarising the profile and persona of the targeted market segment.............................6
H) Including a statement that identifies why the target market should buy the improved
product or service...................................................................................................................7
RECOMMENDED MARKETING MIX........................................................................................7
I) Marketing Mix....................................................................................................................7
CONCLUSION................................................................................................................................8
REFRENCES.................................................................................................................................10
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INTRODUCTION
Marketing refers to the activities and actions a company forms for promoting the sales and
purchase of its production services. Marketing is a very broad term which includes numerous of
activities beginning from market research and ending on the sale of the product or service to the
potential consumer. Marketing includes several activities such as advertising, promotion, selling
and development of brand image. In simple words marketing seeks to take a product or a service,
identify their particular and ideal consumers and drawing their attention towards the specific
product or service. The report is based on marketing principles and the chosen organisation is
Volkswagen (Palmatier and Crecelius, 2019). The company was founded in 1937 by German
labour force and it is headquartered in in Wolfsburg, Germany. The organisation is considered as
the largest automaker of the world according to the sales unit of it in the recent past year. The
report covers a thorough description of a new or improved product or a service. A market
analysis is also conducted in which key market trends, competitor analysis and customer
behaviour are identified in the respective company along with the main opportunities relevant to
the organisation. Moreover, a appropriate segmentation targeting and positioning strategy is
developed according to the market analysis conducted. And at the end a marketing mix strategy
is generated.
MAIN BODY
PRODUCT/SERVICE DESCRIPTION
A) A brief description of the new or improved product or service that is the focus of the
company.
The organisation and the brand Volkswagen is world famous and known as the largest automaker
in the globe according to the past worldwide sales unit of the company. Volkswagen is existing
in the market from several decades and known for its innovative and environment friendly
products and services (Migliore, Howard and Gray, 2018). The meaning of the word
Volkswagen in German is “people’s car”. The brand Volkswagen offers several different models
and types of cars and vehicles to different segments of the society according to their needs,
desires and more importantly their abilities. The company is regularly evolving in all different
aspects for providing the best designed and technological cars to the people and to targeted
audience. From the very beginning the company has evolved providing old different types off
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cars to the respective audience. Volkswagen operates and provides its products and services in
worldwide location and the largest Market of it is in China where it delivers around 40% of its
sales and profits. The new product and offering which the organisation is planning to bring in the
market by 2020 is its electric vehicles. A very high buzz is already surrounding the market about
the three highly anticipated Volkswagen electric concept vehicles named as ID SPACE
VIZZION, ID.4 and ID. BUZZ. The new product offering of Volkswagen is its electric car
concept and the company also claims to be all electric in near future by introducing almost 70
new electric cars in the market. The Volkswagen group have said that organisation is on the
brink to the biggest transformation till date and announces they switch to making electric cars
exclusively (Bernyte, 2018). Many of the manufacturing factories of Volkswagen are already
started switching their operations over to exclusive production of green electric cars starting
from Zwickau in Germany where the production of ID.3 will be starting from November. Along
with it the organisation also cleans that all of this production units and change for the ID concept
will be completely CO2 neutral. Volkswagen is focusing over renewable and reusable resources
with the high performing anticipated top tracks seeds and fast charging. All the electric vehicles
which are supposed to enter the market by the end of 2020 and id3 unique look of the vehicles
brings back the memories of Volkswagen their the company promises a revolution in everyone’s
future. Therefore, the new product offering of Volkswagen is revolutionary and consisted of
latest technology and trends along with the production process of environmental friendly
operations by making use of reusable and renewable resources. The new product offering of
Volkswagen is the concept of all electric vehicle where organisation is planning to enter with
Value products by the end of 2020 with the help of sustainable means of production and with the
latest updated technology bringing revolution in the automobile sector by their unique designs
and utmost comfort.
MARKET ANALYSIS
B) Including a brief analysis of the market.
The electric vehicles market in the UK is amped up and on the rise. In simple words the
electric vehicle market around the globe is evolving rising on a very fast pace (Sahaf, 2019). In
the recent past year the global sales of new electrical vehicles have shown a rapid rise and
brought use opportunities and profit for the organisations. The electric vehicle market is
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