Principles of Marketing: EV Marketing, Segmentation, Targeting & Positioning

This report explains the principles of marketing for electric vehicles (EV) including the marketing planning process, PESTEL analysis, marketing mix 7Ps, segmentation, targeting & positioning. It also discusses the importance of adopting a marketing orientation and its application to the EV business.

Principles of Marketing

Contents
INTRODUCTION.....................................................................................................................................3
Section 1 - Marketing Environment and Planning Process....................................................................3
Components of the marketing planning process in terms of EV marketing, the importance of adopting a
marketing orientation and its application to the EV business..................................................................3
PESTEL Analysis....................................................................................................................................4
Marketing mix 7Ps..................................................................................................................................5
Section 2 - Segmentation, Targeting & Positioning.................................................................................6
Section 3 - Marketing Mix Analysis.........................................................................................................7
CONCLUSION........................................................................................................................................10
REFERENCES........................................................................................................................................11

INTRODUCTION
Marketing is an important component for any organization because it can help the
company in attracting a greater number of customers thereby increasing overall sales (Algnaidi,
Tarofder and Azam, 2021). It can be defined as all the activities that are undertaken by an
organization in order to create awareness about its products and services in the market. Branding,
promotions and advertising are some examples of marketing activities that are used to capture
the attention of the customers. Also, there are different principles of marketing such as price,
promotion, product, people, process and physical evidence. Marketing principles are used by
companies to develop an effective marketing strategy. The report explains how the principles of
marketing apply to the marketing of electric vehicles or EV. It also explains the different
components of the marketing planning process along with the importance of adopting a
marketing orientation. Lastly, the report also provides an explanation of segmentation, targeting
and positioning for electric vehicles in the market.
Section 1 - Marketing Environment and Planning Process
Components of the marketing planning process in terms of EV marketing, the importance of
adopting a marketing orientation and its application to the EV business
A marketing planning process can be referred to as a systematic approach for achieving
the marketing goals as well as objectives of an organization. The marketing planning process
comprises of different components that help an organization in attracting the customers as well
as ensuring that goals and objectives of the firm are met (Calderon and et.al., 2021). Electric
vehicles are increasingly gaining popularity because people are becoming conscious about the
environment as well as the harm that is caused to it because of pollution. In terms of EV
marketing, the different components of the marketing planning process include the target market.
it can be said that the target market for the marketing of electric vehicles are people who are
looking for innovative products in the market as well as the ones who are conscious about the
harm that is caused to the environment. Apart from this, it is also important to take into account
the competition into account and make sure that effective marketing strategies are developed and
implemented. The budget is also an important component of the marketing planning process and
would help the marketers of the electric vehicles to manage the different expenses accordingly. it

is important to adopt market orientation because it increases the customer satisfaction and
loyalty. Apart from this, brand loyalty further leads to increasing the customer base of the
company and increasing the overall sales. Marketing orientation can be implemented to the
electric vehicle business by communicating the important information as well as features of the
vehicle to the customers effectively and address their queries as well as concerns in an effective
manner.
PESTEL Analysis
A PESTEL analysis can be defined as a framework that is used by organizations or
businesses in order to analyze as well as monitor the different factors of the macro environment
that can affect the overall operations as well as profitability of the firm to a great extent (Dahl,
2021). there are different factors such as political factors, social factors, environmental factors,
technological factors etc. The PESTEL analysis for the electric vehicle market is explained
below–
Political Factors – The United Kingdom is a politically stable country with different
policies in place for different things. In other words, it can be said that being politically stable is
one of the strengths of the respective country. But Brexit has created some uncertainties for the
country. And this can affect the overall profitability as well as revenues of the company.
Economic Factors – As the global economy has increased, there has also been a rise in
the sales for electric vehicles. The United Kingdom is one of the largest economies in the world
and the electric vehicles are among the top exports of market (Emond and et.al., 2021). There are
different economic factors that can affect the overall marketing of the electric vehicles.
Social Factors – People like the idea of electric vehicles, especially the ones who prefer
buying eco-friendly products. the United Kingdom has a large consumer market with customers
of different age groups as well as different needs. The different social factors that should be kept
in mind while marketing electric vehicles include the age of the target population, income as well
as education level as well as the gender.
Technological Factors – The United Kingdom is among the most technologically
advanced countries in the world. There are different types of businesses that are constantly
developing new technologies in order to offer the best possible solutions to the customers. The

electric vehicles should be developed in such a way that they are able to adapt new technologies
as well as are fuel efficient. Competition can also play an important role in affecting the process
of marketing electric vehicles.
Environmental Factors – Customers are increasingly becoming conscious about the
harm that is caused to the environment and are getting more inclined towards purchasing
environment friendly products. Over the years, the United Kingdom has made significant
changes in reducing the negative impact that is caused to the environment. But there still can be
different environmental factors that can affect the marketing of the electric vehicles such as
weather and failing comply with the environmental regulations.
Legal Factors – In order to expand into other markets as well as continue operating in
the existing market, electric vehicle brands have to comply with the different legal regulations as
well as legislations (Erdoğan, Doğan and İşlek, 2021). Failing to do so cam affect the overall
performance as well as business operations of the electric vehicle organizations.
Marketing mix 7Ps
Marketing mix can be defined as the set of actions that are used by a company in order to
promote its products as well as services in the market. The different elements of a marketing mix
allow a company to make informed as well as profitable decisions regarding marketing and
develop its strengths. This also helps the organization in becoming more competitive as well as
adapt itself in the market. the 7Ps of marketing mix and how can they contribute to effective
marketing planning for the new concept are explained below –
Product – Product can be referred to as anything that is being sold to the customers and
can either be tangible or intangible in nature. The product in this case are the electric vehicles
that will be marketed to the customers in the market.
Place – Place refers to the point of sale from where the company chooses to allow access
to the product or the service. This can include online website, retail outlets, showrooms etc. The
electric vehicles can be showrooms as well as the website of the company.
Price – The pricing strategy of the products based on the different factors. This is
important and can affect the overall sales of the electric vehicles (Ismail, 2021).

Promotion – Promotion refers to the different activities that are undertaken by an
organization in order to create awareness about the products and services to the customers. The
promotion activities for marketing electric vehicles can include online website, social media
platforms etc.
People – The people who are involved in the marketing as well as selling of the product
or service come under this element of the marketing mix. The different people who would be
involved in the marketing as well as selling of the electric vehicles will include employees, such
as engineers as well as sales people.
Physical Evidence – The physical evidence for the electric vehicles will include the
packaging as well as branding of the vehicles as well as how the vehicles are displayed in stores
and where they are placed.
Process – This is the last element of the marketing mix and involves a series of actions
that are taken in order to deliver the product or service to the customers (What are the 7 Ps of
marketing?, 2021). And this can also include the different features that are in line with the
product or brand such as being sustainably focused and environmentally focused.
Section 2 - Segmentation, Targeting & Positioning
Segmentation, targeting and positioning can be referred to as a framework that plays an
important role in helping the marketers of an organization to reach out to the right customers and
also, align the products or services with them (KHARE, 2021). STP is an important component
of marketing because it breaks down a large market into smaller parts and. This further makes it
easy for the marketers to develop approaches that are effective and would help in reaching out to
the potential customers. The segmentation, targeting and positioning or STP for the electric
vehicles is explained below –
Segmentation – Segmentation refers to the process of dividing the marketplace into
different segments that are actionable, accessible as well as profitable. Apart from this,
segmentation allows the marketer to tailor the products as well as services as per the need of the
customers. Segmentation for the B2B and B2C markets are different from each other and B2B
segmentation is focused on finding the right and unique segments of customers (Mustak and
et.al., 2021). On the other hand, the B2C segmentation involves five main categories such as

geographic, demographic and psychometric. For example, in context to electric vehicles, for the
B2C market, the segmentation can be done on the basis of vehicle type, region as well as class of
the vehicle. Whereas for the B2B market, the segmentation will be done based on the
requirements of the different businesses.
Targeting – Targeting refers to a marketing strategy that involves breaking down a large
market into smaller segments and focusing on the needs of a specific group of people. Marketers
in different organizations use targeting in order to understand the specific needs of the customers
in order to maximize the overall response. For the B2C market, the target customer for the
electric vehicles will be people who are conscious about the environment and prefer buying eco
friendly products as well as those who are looking for new and innovative products in the
market. Their lifestyle should be outgoing with a high level of, income keeping in mind the price
of the product, i.e., electric vehicle. Targeting will help the marketers of electric vehicles to
understand the features of the target population as well as offer them with the best of products.
Positioning – This is the third and the final element of the marketing mix and refers to
the process of developing a mental position in the minds of the customers about the brand as well
as its products and services (Nikitina and et.al., 2021). As mentioned, electric vehicles are
increasingly gaining popularity in the consumer market. One of the reasons for this is that people
are becoming conscious about the environment as well as the harm caused to it. In order to
position electric vehicles in the consumer market, the marketers of the electric vehicles can
communicate the features as well as other benefits to the customers. Apart from this, they should
also bring forward the additional benefits as well as values that the products would deliver to the
customers as compared to the competitors. This would help in positioning the brand in the minds
of the people as high innovative as well as competitive at the same time. As a result, they would
be attracted towards buying the electric vehicles.
Section 3 - Marketing Mix Analysis
Electric/Hybrid Cars
Product In order to sustain competitive advantage, the
electric/hybrid cars will be developed by

taking into account the resent trends as well
as the performance of competitors in the
market (Perčić and Perić, 2021). The electric
vehicles will have various features such as
rechargeable battery. Apart from this, the
customers will also receive additional offers
if they make a purchase.
Place For maximizing the customer numbers as
well as the revenue, the distribution strategy
for the electric vehicles will be planned
thoroughly. This means that electric vehicles
will be displayed at the showrooms as well as
on the online website of the brand
(Puspanathan, 2021). Apart from this,
different dealers of the luxury cars will also
be approached in order to enhance the overall
distribution of the vehicles. This will lead to
multiple points of sale and hence an increase
in the profitability.
Price The objective of the organization selling
electric vehicles will include to increase the
overall profitability as well as gain a
competitive advantage in the electric vehicles
market (Tranchenko and et.al., 2021). For
setting up the price of the vehicles, the
marketers will take into account the different
factors such as cost of raw materials,
distribution of the vehicles as well as the
delivery cost to the customers.
Promotion Promotion is an important element of the
marketing mix and in order to promote the

electric vehicles, different social media
platforms can be used such as Facebook,
Instagram as well as Twitter wherein
different posts will be uploaded on a regular
basis to maintain a high level of engagement
among the customers. Apart from this,
campaigns can also be conducted to create
awareness among the customers regarding
the electric vehicles and their features. Video
advertising is another form of promotion that
can be adopted by the marketers of electric
vehicles. As a result, more people would be
attracted to make a purchase for the product.
People The staff members or them employees of the
brand will play an important role in creating
a strong brand image (Williams and Morrow,
2021). For instance, the engineers will design
the electric vehicles while the workers would
develop the product. Apart from this, the
employees who are staff facing will address
any concerns or queries that are raised by the
customers after the purchase. And lastly, the
sales person at the showroom will be
responsible for assisting the customers for
their purchase of the electric vehicle.
Physical Evidence The physical evidence will include high-class
features such as a premium quality battery,
the seat covers made up of the best quality
material, various safety as well as
entertainment features included in the electric
vehicles (Algnaidi, Tarofder and Azam,

2021). This will help in the positioning of the
electric vehicles in the of the customers as
being high quality as well as offering various
advantages.
Process The process will involve the customers to
book their desired electric vehicle. They will
have an option of doing so through the
brand’s online website as well as through the
dealers at the showrooms. This will ease out
the whole process and help them in booking
their vehicle as well as receive the delivery
for the same in an effective manner.
CONCLUSION
From the above report, it can be concluded that marketing is an important component
within an organization. This is because it helps the company in attracting a greater number of
customers by creating awareness about the products as well as services. There are different
marketing activities that are conducted by an organization such as branding, advertising,
promotions etc. Apart from this, PESTEL analysis is another important framework that helps an
organization to analyze the different factors of the macro environment that can impact the
operations as well as profitability of the firm such as political factors, economic factors, social
factors as well as legal factors. It can also be concluded that the marketing mix is also an
important aspect of marketing and includes 7Ps.

REFERENCES
Books & Journals
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Academia: What Has Changed and What Has Not in a Decade?. Yükseköğretim Dergisi,
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Perčić, K. and Perić, N., 2021. The Effectiveness of Direct Marketing Media Regarding
Attitudes of Different Target Groups of Consumers in Serbia. Periodica Polytechnica
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Tranchenko, L.V. and et.al., 2021. Use of information support for marketing in tourist
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Online
What are the 7 Ps of marketing?. 2021. [Online]. Available through:<
https://assemblo.com/guides/what-are-the-7-ps-of-marketing/ >.