Marketing Strategy and Performance Measurement

This assignment delves into the relationship between different marketing strategies, such as differentiation and cost leadership, and their influence on a company's sustainable financial performance. It emphasizes the importance of Key Performance Indicators (KPIs) in measuring and evaluating the effectiveness of various marketing activities. Students are expected to analyze relevant literature and research findings to understand how marketing metrics contribute to achieving strategic objectives.

Running head: MARKETING COMMUNICATION
Marketing Communication and Digital Communications
Name of the Student:
Name of the University:
Author’s Note:

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Executive Summary
The aim of this report is to design a marketing plan for the chosen product in Assessment 1-
World’s first all electric and all-wheel drive SUV. This report shall provide background
information of the product. Further, the step in writing a marketing plan is designed. To design
the appropriate marketing plan, internal analysis is conducted using SWOT and competitive
analysis using Porter’s framework. The organizational mission is to add a luxurious product to
the market while addressing environmental issues and reducing pollution. The objectives of the
product are to gain recognition and increase sales within the market within the first 6 months of
the product launch. The 4P marketing mix strategy is designed using the best product, pricing,
distribution and promotion strategies. The action programs are designed for the youngsters and
sports lovers as the target market. The marketing plan is implemented and controlled using key
performance indicators (KPIs) such as sales growth, website traffic to lead ratio and others.

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Table of Contents
1.0 Introduction 4
2.0 Steps of a Marketing Plan 5
3.0 SWOT and Competitor Analysis 5
3.1 SWOT Analysis 5
3.2 Competitive Analysis 6
4.0 Mission 7
5.0 Objectives 7
5.1 Marketing Objectives 7
5.2 Financial Objectives 8
6.0 Marketing Mix 8
6.1 Product Mix 8
6.2 Pricing Mix 9
6.3 Place or Distribution Mix 9
6.4 Promotion Mix 9
7.0 Action Programs for Achieving Objectives 10
8.0 Implementation and Control of the Marketing Plan 10
9.0 Conclusion 11
References 11

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1.0 Introduction
Marketing management refers to the organizational discipline that helps in marketing
activities and resources (Sheth and Sisodia 2015). The product chosen for the marketing purpose
from the website http://luxatic.com/ is a sport utility vehicle (SUV). The SUV has distinctive
features as it shall be the world’s first fully electric and all-wheel drive car. The product is
designed especially for the speed and road enthusiasts. The car is light-weighted in nature with
aluminium chassis. It has a dual front and rear motor for producing more power allowing the
riders to drive at a high speed while carrying heavy weights. This car can go up to a speed of
60km/hr within 4.5 seconds. The car shall be operated by two Li-ion batteries that can stretch up
to 193 kilometres and 322 kilometres in a single drive. The car has anti-lock disc brakes that
shall allow the car to maintain contact and avoid uncontrolled skidding. Also, there is
regenerative braking system that helps in recovering energy which can be used immediately or
stored. Further, the car possesses hydro-pneumatic suspension that provides a superior-quality
ride on a wide variety of surfaces through its sensitive and dynamic suspension. The car design is
innovative and eco-friendly in nature that is based on the latest technologies and controls
pollution.
2.0 Steps of a Marketing Plan
An effective marketing plan helps in understanding the market conditions, competition
and overall hindrances or strengths. Firstly, a market research shall be conducted to know if there
is scope for the product line in the market. The available resources, biggest opportunities and
challenges need to be identified. Secondly, the competitive landscape shall be reviewed using
Porter’s five factor analysis. It shall give company the edge to compete in the market. Thirdly,
the target market needs to be identified so that marketing strategies can be targeted towards it.
Fourthly, the marketing and financial goals and objectives shall be set that can help the
organization to reach the goals. Fifthly, marketing strategies and tactics shall be defined using 4P
framework that can help the company grow revenue. These strategies shall help in determining
the ways in which the organization can attain its marketing and financial objectives. Lastly, the
company shall determine evaluation methods for measuring success (Kocmanová and Šimberová
2014).

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3.0 SWOT and Competitor Analysis
3.1 SWOT Analysis
The internal environment is analyzed using the SWOT analysis-
Strengths
 The SUV shall be the world’s first
electric and all-wheel drive.
 The distinctive features such as Anti-
lock disc brakes, Regenerative braking
system and Hydro-pneumatic
suspension makes it better than other
motor vehicles.
Weaknesses
 The motor vehicle shall be expensive in
nature as it is a luxurious product and
cannot be afforded by majority of
people.
 As the automotive is fully electric and
there is no fuel consumption, there may
be a breakdown if there is problem in
the electric component.
Opportunities
 There is shift in social trends towards
the usage of electric vehicles due to
environmental sustainability.
 There is scope of geographical
expansion as the market for electric
vehicles is increasing globally.
Threats
 There is increasing competition in the
automobile market.
 The changing government regulations
can make it difficult for the business to
run profitably.
Table 1: SWOT Analysis
Source: (Chernev 2014)
3.2 Competitive Analysis
The competitive landscape of the automotive company can be analyzed using Michael
Porter’s analysis as under-

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Porter’s Five Forces High/ Medium/ Low Analysis
Bargaining Power of
Customers
Medium The consumers have low switching cost that adds to
strong as there are more electric cars available at
affordable prices. However, there is low volume of
purchase as every customer shall buy a single or a few
cars only.
Bargaining Power of
Suppliers
Low The suppliers have low level of forward integration are
there is limited distribution and sale. Further, there are
low numbers of suppliers for best components that make
the bargaining power low.
Threat of Substitutes High As there are other substitutes available such as electric
bikes, fuel based cars, public transportation and other
modes that make the bargaining power of substitution
high.
Threat of New
Entrants
Low The automotive industry requires significant investment,
knowledge and experience that makes it difficult for the
companies to enter into the market. Further, it is difficult
to establish a strong brand image in the market as
existing competitors like Tesla have high brand image.
Competitive Rivalry High There is low switching cost and it is easier for the
companies to choose from other companies such as
Tesla, Toyota and others.
Table 2: Porter’s Five Forces
Source: (Banker, Mashruwala and Tripathy 2014)
4.0 Mission
The organizational mission is: to accelerate the sustainable transport by compelling the
masses to switch to fully electric vehicles for addressing environmental issues while providing
safe and exciting journey.

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The aim of this automotive is to persuade the consumers to use economic friendly
vehicles that shall result in less pollution. The mission is to provide a luxurious journey to its
consumers using innovative design and technology by removing fuel consumption feature and
increasing road safety.
5.0 Objectives
5.1 Marketing Objectives
The marketing objectives that shall be attained by launching world’s first all electric and
all wheel drive SUV are determined as under-
 To build brand awareness in the automotive industry for invigorating interest among the
consumers by 15% by the end of 6 months.
 To enter new markets and capture the market share in the local region by 10% by the end
of 6 months.
 To increase the number of enquiries from marketing communication activities by 25%
within 6 months (Patti et al. 2017).
5.2 Financial Objectives
The financial objectives that shall be attained using the marketing plan are determined as
under:
 To increase sales by 20% to gain revenue and expand further in the national market by
the end of 6 months.
 To increase profitability by 15% for using it for further marketing by the end of 6
months.
 To increase wealth by 10% for establishing a luxurious brand image in the market
(Kitchen and Burgmann 2015).
6.0 Marketing Mix
Marketing mix or 4P framework can be used for controlling the marketing activities and
influence the consumers to purchase products:

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6.1 Product Mix
The product assortment or product line offered by the organisation is defined in the
product mix. The electric SUV shall be sold that shall satisfy the mission of environmental
sustainability. The distinctive features such as regenerative power braking shall help in storing
energy for immediate or future use. The batteries are designed to achieve higher density with five
year warranty. The product design is sleek and the aluminium body makes the SUV light
weighted but capable to carry heavy weight. The product runs smooth at roads and terrains and
saves fuel reducing air pollution (Belch, Belch, Kerr and Powell 2014).
6.2 Pricing Mix
Pricing strategy refers to the approach in products that defines prices and discounts in the
marketing mix. The SUV is designed for the luxurious consumers and it shall follow premium
pricing strategy. The SUV is priced higher in comparison with other competitors. The consumers
shall be able to pay more as there will be no or only few substitutes as the brand focuses on style
and design. The products are sustainable in terms of quality, design and technology (Huang and
Sarigöllü 2014).
6.3 Place or Distribution Mix
Place strategy refers to the geographical areas or places where the products are sold. The
SUV can be sold directly in the market trough display in showrooms. Gradually, the market can
be grown nationally and the internationally. Also, the brand shall later focus on the online market
thereby making it accessible for all customer bases (Mintz and Currim 2013).
6.4 Promotion Mix
The promotion mix allows the company to communicate using traditional and integrated
marketing channels thereby promoting sales. The brand can utilize print advertisement mediums
such as newspapers, magazines and billboards so that masses can be captured. Also, traditional
channels such as television and radio can be used for advertising purpose. The brand shall focus
on digital media by using social media sites such as Facebook, Instagram, Twitter, Snapchat and
others that are widely used by the customers. Campaigns can be designed that can attract larger

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masses on the social media. Further, the company can increase awareness by engaging with the
potential customers and resolving their queries that can help gain truth and confidence in the
company. The company can prepare a video advertisement that can be used for advertisement on
YouTube as sponsored advertisement (Järvinen and Karjaluoto 2015). These strategies shall help
educating masses about the eco-friendly nature of the automotive. Also, the company can adopt
blog marketing and content writing strategies so that the consumers can gain knowledge about
the product (Hanssens et al. 2014).
7.0 Action Programs for Achieving Objectives
The action program for achieving the marketing and financial objectives is designed as
under:
What? Who? Resources When? Priority
Prepare campaigns
for pre-booking of
SUV
Marketing Officer Graphic designer,
Finance, IT system
Immediately High
Developing email
pieces for making
the customers
aware
Human resource Content developer,
IT system
Immediately High
Announcing the
launch via Press
release
CEO Content developer 1 week before
launch
Medium
Promoting product
on social media
Marketing Officer Finance, Graphic
designer, content
developer, IT
system
Immediately High
Table 3: Action Programs for Achieving Objectives
Source: Created by Author

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8.0 Implementation and Control of the Marketing Plan
The marketing plan as designed above can be implemented after communicating the plan
with the employees. It must be ensured that the staffs have the aptitude and skills to implement
the marketing plan. The marketing staff shall be recruited to implement the social media plan
while making sure that it fits within the business goals and objectives (Chambers 2013).
The marketing plan can be controlled by evaluating the progress using a few Key
Performance Indicators (KPIs). Return on investment can be measured for assessing the revenue
generated by a specific marketing campaign (Farris, Bendle, Pfeifer and Reibstein 2015). The
sales revenue can be measured as it shall help analyze the business growth trends and overall
success. The website traffic to lead ratio can be measured as it shall show the footfalls and
enquiries conducted regarding the automotive. It shall help in measuring brand awareness and
recognition (Parmenter 2015).
9.0 Conclusion
Conclusively, the product chosen for the marketing purpose from the website is a sport
utility vehicle (SUV). The distinctive features such as Anti-lock disc brakes, Regenerative braking
system and Hydro-pneumatic suspension makes it better than other motor vehicles. The automotive
industry requires significant investment, knowledge and experience that makes it difficult for the
companies to enter into the market. The mission is to provide a luxurious journey to its
consumers using innovative design and technology by removing fuel consumption feature and
increasing road safety. the company can adopt blog marketing and content writing strategies so
that the consumers can gain knowledge about the product. These strategies shall help educating
masses about the eco-friendly nature of the automotive.

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References
Baker, M.J., 2014. Marketing strategy and management. London: Palgrave Macmillan.
Banker, R., Mashruwala, R. and Tripathy, A., 2014. Does a differentiation strategy lead to more
sustainable financial performance than a cost leadership strategy?. Management
Decision, 52(5), pp.872-896.
Belch, G.E., Belch, M.A., Kerr, G.F. and Powell, I., 2014. Advertising: An integrated marketing
communication perspective. McGraw-Hill Education.
Chambers, D.W., 2013. Key performance indicators. The Journal of the American Dental
Association, 144(3), pp.242-244.
Chernev, A., 2014. Strategic marketing management. London: Cerebellum Press.
Farris, P., Bendle, N., Pfeifer, P. and Reibstein, D., 2015. Marketing metrics: The manager's
guide to measuring marketing performance. NY: FT Press.
Hanssens, D.M., Pauwels, K.H., Srinivasan, S., Vanhuele, M. and Yildirim, G., 2014. Consumer
attitude metrics for guiding marketing mix decisions. Marketing Science, 33(4), pp.534-
550.
Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand
equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-
132). Springer New York.
Järvinen, J. and Karjaluoto, H., 2015. The use of Web analytics for digital marketing
performance measurement. Industrial Marketing Management, 50, pp.117-127.
Kitchen, P.J. and Burgmann, I., 2015. Integrated marketing communication: Making it work at a
strategic level. Journal of Business Strategy, 36(4), pp.34-39.
Kocmanová, A. and Šimberová, I., 2014. Determination of environmental, social and corporate
governance indicators: framework in the measurement of sustainable
performance. Journal of Business Economics and Management, 15(5), pp.1017-1033.

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Luxatic.com. (2017). Cars & Bikes - Luxatic. Luxatic. Retrieved 2 October 2017, from
https://luxatic.com/cars-bikes/
Mintz, O. and Currim, I.S., 2013. What drives managerial use of marketing and financial metrics
and does metric use affect performance of marketing-mix activities?. Journal of
Marketing, 77(2), pp.17-40.
Parmenter, D., 2015. Key performance indicators: developing, implementing, and using winning
KPIs. UK: John Wiley & Sons.
Patti, C.H., Hartley, S.W., van Dessel, M.M. and Baack, D.W., 2017. Improving integrated
marketing communications practices: a comparison of objectives and results. Journal of
Marketing communications, 23(4), pp.351-370.
Sheth, J.N. and Sisodia, R.S., 2015. Does marketing need reform?: Fresh perspectives on the
future. UK: Routledge.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage.
USA: Oxford University Press.