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Marketing Technique of Volvo - Report

   

Added on  2020-05-28

9 Pages2577 Words60 Views
Running Head: MarketingMarketingVolvo Company
Marketing Technique of Volvo - Report_1
Marketing 1ContentsIntroduction.................................................................................................................................................1Market Segmentation and target market product.........................................................................................1Segmentation...............................................................................................................................................1Target Market..........................................................................................................................................2Value Proposition........................................................................................................................................2Product Strategy..........................................................................................................................................3Promotion Strategy......................................................................................................................................4Place Strategy..............................................................................................................................................4Pricing Strategy...........................................................................................................................................5Effectiveness of Marketing Mix in positioning strategy of Company..........................................................5Conclusion...................................................................................................................................................5References...................................................................................................................................................6
Marketing Technique of Volvo - Report_2
Marketing 2IntroductionThe purpose of this task is to provide a brief overview about the marketing techniques which theorganization Volvo shall use in order to promote their product in the target market. Volvo is awell renowned company which is based in trading automobile vehicles in the market. Trucks,buses, marine, construction equipment, industrial engines etc.; all types of machines are suppliedby the company worldwide. It was founded in year 1927 by Assar Gabrielsson and GustavLarson. Volvo has high revenue of 301.914 billion kr which shows that the company is runningtheir business in large scale. Further the company wants to introduce their product Volvo XC 90,2017 model in the market (Volvo 2018). So, the below mentioned task discusses about themarketing strategy and the target market which the company shall select to adequately positiontheir product in the target market. Market Segmentation and target market productSegmentationSegmentation refers to the process of creating segments in the market on the basis of manyfactors which create differentiation in choice of people for a particular product. It is an activitywhich is referred as general brainstorming activity. Under this activity on the basis ofgeographic, demographic, psychographic and behavior factor, the customers are segregated andthen targeted in the market. Further the basic motto of the company to segment their customersso as to create stronger brand name, greater market share and cross selling solutions in thebusiness process of the company (Volvo 2018). Segmentation of the Volvo XC 90, 2017 modelis discussed below:Demographics: Under this aspect the company identified the customers on the basis of age,gender, ethnicity, culture, education etc. factors. By looking at the sagacity lifestyle model, thecompany targeted the pre-family and family. This helped the company to provide services to thecompany who actually wised for it.
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