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Marketing Control and the Pagani Huayra

   

Added on  2020-04-01

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RUNNING HEAD: BUSINESS PLAN 1BUSINESS PLANStudent NameInstitute Name
Marketing Control and the Pagani Huayra_1

BUSINESS PLAN 2ContentsIntroduction................................................................................................................................3Steps in writing the marketing plan...........................................................................................3SWOT and competition analysis................................................................................................4Mission.......................................................................................................................................6Set three marketing objectives and three financial objectives achievable with in the first six month of product launch............................................................................................................6Formulate a detailed marketing mix strategy and place emphasis on a digital marketing communication plan...................................................................................................................7Present action program designed to achieve the marketing and financial objectives................9Discuss the implementation and control of the marketing plan.................................................9Conclusion................................................................................................................................10Reference..................................................................................................................................11
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BUSINESS PLAN 3IntroductionThe report will discuss in detail about the business plan of a super luxury car called as PaganiHuayra. The car is an Italian automobile and is a mid-engine sports car manufactured by the company called Pagani. The company has seen a lot of success in its past offering called witha name of Zonda and the base price for this product was €850,000. The name was after Huayara-tata which also means a Quenchua wind god. This car got begged the position of Hyper-car of the year in 2012 in magazines like Top Gear and received a lot of appreciation when it was tested by Richard Hammond on the show Top Gear (HINTERMANN, 2017). The care also beat all the fastest road car records on Top Gear Test Track by setting a record of 1:13.8.Steps in writing the marketing planFollowing are the step required in a marketing plan: 1.Situation analysis: this is first step of marketing plan where an overview of the situation existing in today’s time will be evaluated and it will set important benchmark as the company will adapt and further refine the plan in near future. 2.Target audience: this step will describe the target audience. Like for examples, in the report the target audience are high income group people and industrialists who can afford the car (Mulleví Pelfort, 2016). 3.Goals: this step will set the company’s marketing goal for the next fiscal year. The important thing is to set the goal as realistic and measurable as possible that can be easily evaluated. 4.Tactics and strategies: this phase will establish the plan and it is important to take a lotof space in this section to provide an overview on marketing strategies and list of every corresponding tactics that will be employed to implement them.
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BUSINESS PLAN 45.Breakdown of budget: the last step is to plan a brief breakdown of the overall cost related with each of the tactics. The plan is to show at three trade shows every year and consist of the cost that can participate in the shows. SWOT and competition analysisFollowing is SWOT analysis of Pagani Huayra: -Strength1.The model is a mix of sporty-ness and luxury combined which generally cannot be seen in any other kind of product. 2.Strong market position as well as brand equity3.It is a very expensive product and come with limited availability which add uniqueness in the brand and brand value as it is taken as status symbol (Mulleví Pelfort, 2016). Weakness1.Pagani Huayra has limited or no presence in emerging economies where the number of rich people are rising. 2.Since it comes under limited manufacturing which means that it can miss out of possible customers. Opportunities1.Pagani Huayra can carry the heritage as well as design and make it more environmental friendly automobile with electric or hybrid kinds of transmission. 2.It is important to form a strategy that targets all affluent class from all possible emerging economies (Ricca & Robins, 2012).
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