Aston Martin Marketing Strategy Analysis

This assignment requires a comprehensive analysis of Aston Martin's marketing strategy. Students must examine the company's mission statement and core values, identify its target market, and assess its competitive position within the luxury automotive industry. A SWOT analysis should be conducted to evaluate Aston Martin's strengths, weaknesses, opportunities, and threats. The analysis should draw upon relevant academic literature, industry reports, and publicly available information about Aston Martin.

Principle and Practices of
Marketing

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................2
Q1. Mission and Objectives Company........................................................................................2
Q2. Conducting marketing audit through analysis of Macro environment and Task
environment.................................................................................................................................3
Q3. SWOT analysis of new car...................................................................................................7
Q4. Analyzing a range of marketing assumptions relevant to new product...............................8
CONCLUSION................................................................................................................................9
REFERENCE.................................................................................................................................10

INTRODUCTION
Marketing is considered as the most important aspect of business management. It has
direct impact on growth of business, sales of company and brand value. In this process,
management uses different strategies in order to promote different kinds of products and
services. It has significant impact on sales and brand value of the company. For enchaining
market share of the company, managers of different companies apply a systematic marketing
plan that supports the organization while launching new products and services along with
business expansion (Ranchhod, 2007). The present study is going to examine different aspects of
marketing planning process which are considered by an organization while introducing new
products. In this regard, Aston Martin Lagonda Limited is taken as organization which is
introducing its new sports car DB11 in the year 2016. Aston Martin Lagonda Limited is
identified as British Luxury and Sports car manufacturing brand. The present report carries out
detail evaluation of business objectives and goals of the company. It also examines different
aspects of business environment and formulates appropriate strategies for lunching new products.
Furthermore, this report also examines different aspects of marketing planning process such as
resource analysis which affects overall marketing plan for new product.
(Source: New Aston Martin DB11 due in 2016, 2016)
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TASK
Q1. Mission and Objectives Company
Different strategies of an organization are mainly influenced by mission and core
objective of the company. Mission and core principles control each and every operations of the
organization associated with the new product development, selection of marketing strategies and
business expansion. Therefore, evaluation of mission and objectives of Aston Martin is carried
out below:
Mission of Aston Martin
The Mission of the company is to become best in each area business associated with
sports car manufacturing. In this context, organization provides exceptional customer experience
with its product range (MISSION STATEMENT & CORE VALUES of Aston Martin, 2016).
Management makes effort in developing appropriate culture that would create Aston Martin as a
best place to work. Furthermore, different strategies plans are going to be developed by the
organization with reference to community or social benefits.
Objectives of Aston Martin
Different objectives of Aston Martin are mentioned below: Integrity in business operation: The primary purpose of company is to ensure integrity
within different business operation by striving to do the right thing. In this process,
business entity always makes efforts to made commitment of firm. Servants’ Attitude: It is one of most important objective in which business entity tries to
serve internal and external customers with a best possible manner. Therefore,
organization manages clients with a genuine humility and pays extra attention on their
distinct needs (Cooke, 2010). Accountability: According to this objective, management always tries to become
accountable for quality of services and business operation with the help of different
business operations. Continuous Improvement: It is termed as the most important aspect of business
management within dynamic organization that constantly seeks areas of growth and
innovation. This growth starts at the personal level and continues into all elements of the
organization.
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 Teamwork: Business entity focuses on teamwork for accomplishing distinct business
objective. In this process, management and other staff put aside their individual needs
and make efforts to accomplish the larger group objective. In this process, individual
skills and constructive feedback are playing important role.
 Fun: It is a most important aspect of an enjoyable workplace. It encourages energetic
contributions from different team members that provide significant assistance in
developing innovative products and services.
As per the above evaluation of mission and objectives of Aston Martin, it can be stated
that all these mission and objectives focus on attention of customer satisfaction which is
addressed as the most important aspect of business growth. As per the company's objectives,
application of team work and fun has found great tool in increasing individual and organization's
productivity.
Q2. Conducting marketing audit by analyzing Macro environment and Task environment
In general, Marketing audit is carried out for evaluating several internal and external
aspect and factors of business management that are having great impact on long term and short
term business plans along with growth of business entity. Aston Martin is introducing its new
high end sports car named DB11 in the year 2016. In this context, marketing audit supports
business entity in identifying current business opportunities, assessment of present economic and
business environment, change in interest and lifestyle of consumers, level of competition in
particular car segment etc (Jobber and Ellis-Chadwick, 2012). This information assists the
management of Aston Martin in selecting appropriate marketing strategies along with
promotional tools through which organization can attract target consumers towards its new car.
This report carries out marketing of Aston Martin by analyzing different factors of macro
environment and task environment. This evaluation is carried out below:
Analysis of Macro Environment
In the process of launching new car, the management of Aston Martin has to consider
these factors to generate good return. The evaluation of these factors is carried out below:
 Political factor: It includes all the rules and regulation associated with the government
laws and regulations. It also consists of security measures and restrictions that are applied
by the government on whole sector so as management of Aston Martin has to consider
these regulations while introducing new car DB11. In this process, company has to
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ensure performance and carbon emission as per the new laws related to CO2 emission
(Benson and Barclay, 2012). In addition to that, Change in EU legislation associated with
end-of-life vehicle (ELV) recycling has influenced Aston Martin policies in selecting car
design along with selection of raw material that would be used in manufacturing new car.
Taxes and government foreign policies are critical for automobile industry. Furthermore,
it is evaluated that the automotive industry has always received political support of public
authority of UK. This is because it contains vast employment potential, export earnings
along with membership of the European Union that would play important role for
increasing the sales of new car within UK and other markets of EU (Goworek, 2011).
Furthermore, UK-manufactured cars can be sold within the EU without any kind of
customs tariffs that would play important role in promoting and marketing of new car. It
also leads positive impact on pricing of new product so as company will be able to sell
new product in less cost. The public authority of UK has signed free trade deals with
Singapore and South Korea through which Aston Martin will be able to export its car
name DB11 in overseas marketplace within less cost.
 Economic factors: As per the different studies it has been found that the UK is identified
as the second largest car producer in the world after Germany. Therefore, it exports more
than 25 per cent of the cars that are manufactured within the country by different
companies and it also provides 730,000 jobs. Furthermore, it supports country in order to
reduce overall trade benefits. Therefore, the management of Aston Martin has to develop
a car that would able to satisfy needs and demand of overseas customers along with
European consumers (Pestle Analysis, 2016). This is because 51 per cent of total
automobile exports are carried out within EU countries due to absence of trade barriers.
In this regard, Aston Martin has to select wide range of marketing tools and promotional
procedure in order to attract consumers from all over the Europe. Apart from that, the UK
is also making efforts in establishing a presence in emerging markets like China and India
due to presence of vibrant car components and engine parts industry (Proctor, 2014). It
influences car manufacturing company to establish relationship with overseas suppliers
that will reduce dependence of organization on domestic suppliers for manufacturing of
new car. This approach also supports management for controlling the cost of new product
that would provide competitive edge over other companies.
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 Social factors: Significant changes addressed in culture and demographics in UK. It also
influences the change in buying pattern along with the capacity of the consumer in
selecting cars for different requirement. In this regard, the management of Aston Martin
has to develop appropriate pricing strategies as per the buying pattern of the consumers
which is greatly affected by recession. In addition to that, new car of Aston Martin must
attain all environmental compliance because people are more aware about different
environmental issues that are occurred through harmful emissions of automobiles (The
Macro Environment Analysis, 2014). In addition to that, young age businessmen who
prefer high speed sports cars also considered safety of environment as the most important
element while selecting an appropriate car for them.
 Technological factors: In the context of sports car, manufacturing industry technology
plays most crucial role in order to increase popularity of brand and new cars. In this
process, administration of Aston Martin has to consider various factors in developing and
promoting of new car such as increasing levels of popularity of “green” technologies,
integration of internet-enabled applications in automobile industry and increasing levels
of demand for alternative fuels (Jalmer, 2009). Furthermore, management has to consider
different concepts such as driver-less car through which business entity will be able to
gain attention of consumers. In addition to that, by using of new and sophisticated design,
organization will be able to manage competitive edge over other companies with the help
of new companies.
 Environmental factors: It is the most important factor through which management of
Aston Martin will be able to create unique image of company and its products by offering
a high end sports car that ensures about safety of the environment. The reason behind
considering this factor is that people are quite aware of global warming and greenhouse
effect along with their impact on environment (New Aston Martin DB11 readies for 2016
launch: all the latest on DB9 successor, 2015). It also influences consumer’s tastes and
preferences so consumers are preferring eco-friendly cars, hybrid cars, fuel cell cars etc.
 Legal factors: The emergence of negative impact of pollution on environment has
imposed several restrictions and strict pollution norms on car manufacturing companies
that are determined by European and US market such as ERO norms (Eva and et.al,
2010). Therefore, Aston Martin has to carry out detail evaluation of different norms of
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environmental protection which have been adopted by different companies while
introducing new car all over the world along with UK market.
Analysis of Task environment
It is also considered as an important tool of marketing audit through which management
of Aston Martin is able to examine different factors of external environment so as management
can reach business goals (Niininen and et. al., 2012). Any business or consumer which is directly
involved with the organization is termed as important part of task environment such as
competitors, customers, suppliers and labor supply. Consumers: The management of Aston Martin is going to introduce to its new sports care
named DB11 in 2016. It consists of various high end features, great design, highly
luxurious interiors etc. All these factors are playing important role in order to create
unique image of car and to influence satisfaction of consumer. In this context, it has been
found that the primary objective of the company is to provide best experience to
consumers. Therefore, business entity considers suggestion of consumers during
selection of color, design and features of high end that are varied from different
consumers (Chikweche and Fletcher, 2012). Consideration of distinct needs of buyers
helps Aston Martin to increase the sales of new car by providing them with best
experience and product quality. In addition to that, it has been found that bargaining
power of customers associated with high end cars is high because various companies are
offering similar kind of products and cars which are manufactured as per the special
needs of client so management has to select appropriate promotional and marketing
strategies with the help of which latest marketing tools in the form of social media,
sponsorship in sport event through which Aston Martin will be able increase awareness
of new car among target consumers (Neves, 2007). Competitors: High competition is identified in car manufacturing market of UK because
various top brands of the world such as Bentley, Porsche, BMW, Rolls-Royce, etc. are
offering different cars with unique design and great features. In addition to that, they are
using different kinds of marketing and promotional strategies to attract consumers
towards their products and cars (Simkin, 2009). Therefore, the management of Aston
Martin has to consider all aspects associated with competitors such as number of
potential competitors, pricing and features of other cars which are similar to DB11,
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technology etc. In addition to that, the management has to carry out detail evaluation of
marketing strategies, brand value and customers base of other companies. By conducting
this evaluation, Aston Martin is able to select best marketing strategies and promotional
tools that would provide competitive edge to new car over other companies. Suppliers: In the context of high end car manufacturing business, quality of final product
along with performance of car depend on the quality and efficiency of different
equipment and auto parts which are considered by the company (Kotler and Keller,
2012.). Therefore, Aston Martin has determined various strategies for establishing long
term relationship with suppliers. This approach will assist the manager and company in
order to ensure to consumers about the quality of new car along with its performance. In
this context, Aston Martin has to establish regular conversation with different suppliers to
assess best auto parts as per the distinct needs to final consumers.
 Employees: The success of an organization is greatly affected by the productivity and
efficiency of staff member working in different department. For handling different
marketing operations, employees associated with sales and marketing department are
playing most crucial while launching new sports care (Ranchhod, 2007). Therefore,
management of Aston should have to provide appropriate training associated with
features of new car to sales staff so that they could easily assess different requirements of
clients and could explain features or specification of new car in an appropriate manner. In
addition to that, marketing department is also responsible for carrying out detail
evaluation of different promotional tools and their effectiveness so that company can
offer new product in an efficient manner.
Q3. SWOT analysis of new car
SWOT analysis is addressed as a great tool which is used by every organization for
assessing different aspect in the context of particular product or an organization. The SWOT
analysis of Aston Martin's new car DB11 is carried out below: Strength: The DB11 is associated with the Aston Martin Company that has managed
high brand equity and strong legacy along with rich historical heritage that results in
strong relationship with consumers. It will support new car in order to assess attention of
exiting consumers with new consumers. The company is offering new DB11 with the
high end engineering and sleek design that would provide ultimate luxury & comfort
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along with thrilling racing experience (New Aston Martin DB11 readies for 2016 launch:
all the latest on DB9 successor, 2015). By using cutting edge technological features, this
new car contains various unique features and attribute. This car comes with the AMG V8
turbo charge engine that would provide great racing experience to its clients. In addition
to that, the strong presence of Aston Martin in racing and motor sports events provides
significant assistance to the company for developing a strong marketing and branding
strategies (Cooke, 2010). Weakness: The management would offer this car in all over the world but lesser market
penetration and limited product portfolio in emerging economies leads to negative impact
on sales of new car. It is a high end sports car so the price of the car is also very high so
business entity would face problems in attracting overseas consumers. Opportunities: The new car of Aston Martin is developed with reference to all the
historical values and heritage that can be leveraged to acquire new customers. In addition
to that, company can increase market penetration with the help of new car by using
extensive distribution along with promotional strategies (Jobber and Ellis-Chadwick,
2012). The company is going to introduce another version of this car with V12 and V8
power in 2017, much like the Bentley Continental range. By increasing the availability of
service and spare parts within low cost from overseas suppliers, this new car could be
offered with competitive pricing through which business entity will be able to attract
more customers.
 Threats: The new DB11 has been developed with reference to all environmental safety
norms but high power engine consumes fuel in very high quantity. In this regard,
increasing fuel costs leads to negative impact on sales (Benson and Barclay, 2012).
Furthermore, Competition from other big automobile giants such as BMW, Porsche, and
Bentley etc. would create several issues for the company. Apart from that, new
innovations and frugal engineering by competitors could act as a threat for new car and
could hamper marketing operations and sales.
Q4. Analyzing a range of marketing assumptions relevant to new product
As per the above assessment, several factors of business environment are evaluated that
play important role during marketing planning process of Aston Martin for launching a new car
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DB11. In this context, some important marketing assumptions are determined below that are
relevant to new product:
 As per the evaluation of several aspects associated with Aston Martin, it can be stated
that the new car named DB11 would greatly attract new as well as existing consumers.
This is because business entity has maintained strong legacy and strong heritage and
company has an efficient base of loyal consumers.
 Furthermore, it is assumed that the use of social media, racing events and auto-expo will
play important role in increasing the awareness of target consumers about the new high
end sports (Goworek, 2011).
 Some assumptions are made which states that overall sales of company will be increased
with the new launching. In this process, the present economic recovery position of
European nation would provide significant support to the management in order to
increase overall sales and market share.
 This new car is designed by considering all environmental safety compliance so as it is
assumed that business entity will be able to promote the new car as a green car. It would
increase brand value and influence goodwill of the company in a positive manner.
CONCLUSION
As per the above assessment, it can be stated that success of marketing plan related to
launching of new product is greatly influenced by an appropriate marketing audit. This report has
found that the marketing audit is identified as the most important part of marketing planning
process that supports management in evaluating various external and internal factors such as
political, social factors etc. which greatly influence the effectiveness of promotional plans of new
product.
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REFERENCE
Books and Journals
Benson, M. and Barclay, I., 2012. New Product Development: Theory into Practice. Leadership
& Organization Development Journal. 11(6). pp.24 – 30.
Chikweche, T. and Fletcher, R., 2012. Revisiting the marketing mix at the bottom of pyramid
(BOP): from theoretical considerations to practical realities. Journal of Consumer
Marketing. 29(7). pp.507 – 520.
Cooke, S., 2010. Database Marketing: Strategy or Tactical Tool. Marketing Intelligence &
Planning. 12(6). pp. 4-7.
Eva, M. and et.al., 2010. Business analysis. British Informatics Society.
Goworek, H., 2011. Social and environmental sustainability in the clothing industry: a case study
of a fair trade retailer. Social Responsibility Journal. 7(1). pp. 74-86.
Jobber, D. and Ellis-Chadwick, F., 2012. Principles and practice of marketing. McGraw-Hill
Higher Education.
Kotler, P and Keller, K.L. ,2012. Marketing Management,.Prentice-Hall, London
Neves, M. F., 2007. Strategic marketing plans and collaborative networks. Marketing
Intelligence & Planning. 25(2). pp.175 – 192.
Niininen, O. and et. al., 2012. Marketing Principles. Cengage Learning.
Palmer, A., 2009. Multichannel Marketing: Metrics and Methods for On and Offline Success.
Direct Marketing: An International Journal. 2(4). pp.248 – 249.
Proctor, T., 2014. Strategic Marketing: An Introduction. Routledge.
Ranchhod, A. 2007. Marketing Strategies: A Contemporary Approach, 2/e. 2nd ed., Pearson
Education India.
Simkin, L., 2009. Tackling implementation impediments to marketing planning. Marketing
Intelligence & Planning. 20(2). pp. 120–126.
Online
MISSION STATEMENT & CORE VALUES of Aston Martin. 2016. [Online]. Available through:
<http://www.galpinastonmartin.com/mission-statement-core-values>. [Accessed on 8th
January, 2016].
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New Aston Martin DB11 readies for 2016 launch: all the latest on DB9 successor. 2015.
[Online]. Available through:<http://www.carmagazine.co.uk/spy-shots/aston-martin/aston-
martin-db10-spied-there-is-life-after-db9/>. [Accessed on 8th January, 2016].
Pestle Analysis. 2016. [Online]. Available
through:<http://www.termpaperwarehouse.com/essay-on/Pestle-Analysis/187711>.
[Accessed on 8th January, 2016].
The Macro Environment Analysis. 2014. [Online]. Available
through:<http://www.whatmakesagoodleader.com/macro-environment-analysis.html>.
[Accessed on 8th January, 2016].
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