Established and Adjust Marketing Mix

This report discusses the market opportunity for Aston Martin in introducing electric cars. It covers the product characteristics, target market, distribution, pricing, and promotion strategies. It also explores the expected results of implementing the marketing mix.

Established and adjust
marketing mix

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Assessment 1....................................................................................................................................2
Product characteristics and market significance .........................................................................2
Target market, their needs and preferences.................................................................................2
Environmental Factors Affecting Marketing Mix on Aston Martin............................................3
The level of customers services to be provided ..........................................................................3
How the product and services will be distributed .......................................................................4
How the product will be priced ...................................................................................................4
How the product will be promoted..............................................................................................5
Any other products/ services that will be offered .......................................................................6
Assessment 2....................................................................................................................................8
Success or lack of marketing campaign.......................................................................................8
Possible reasons of campaign result ..........................................................................................9
Factors that have attributed to the campaign outcome.................................................................9
Modifications that can be implemented to improve the future results.........................................9
How the modifications will be reviewed...................................................................................10
CONCLUSION .............................................................................................................................10
REFERENCE ................................................................................................................................11

INTRODUCTION
Marketing mix refers as set of actions, tactics and plans which is prepared by marketers
in order to sale its products at wider range and increase market image. Mix mix is adopted by all
organisation at the time of introducing something and attaining competitive advantages.
Marketing opportunity stated as situation in which product and services that is potentially wanted
or needed by people is identified by a business as not being supplied by rival organisation. If
organisation is having strong market opportunity than it can compete with others and increases
brand image (Hossain and Khan, 2018).
For better understanding Aston Martin Legonda has been selected that is British
manufacturer of Luxury sports cars and grand tourers. This organisation was founded in 1913 by
Lionel Martin and Robert Bamford. Its headquarter in Gaydon, United Kingdom, England etc.
This report covers a market opportunity in which it discuss about characteristics and market
significance of product, need and preference of target market, ways to distribute product,
environmental factors that influences marketing mix, pricing strategy, expected results of
marketing mix on implementation, duration of market programme etc. Apart from this, according
to assessment 2 this report will helps to understand about success or lack of market campaign,
appropriateness and possible environmental factors that impacted on campaign etc.

MAIN BODY
Market opportunity – This means how an organisation can increase productivity and
profitability by selling its products and services. Aston Martin Lagonda is British luxury sports
cars manufacturers that attracts customers and increases organisational profitability. This is
targeting high class of people who are interested to maintain their status and standard. Marketers
of Aston marketing has developed a market opportunity by introducing electronic cars with Hi
premium features that will help to capture market share and brand image more. It has seen that
environment is getting pollute due to carbon effect so, marketers has decided to introduce
products which are carbon emission errors. Different technology and skills being to use to
prepare such electric cars. Manufacturing of electric cars will help to create a good market
opportunity by applying different market strategies (Geap, Govindan and Bathmanathan, 2018).
By using electric cars it can enter in Asian market and improve brand image that will also help to
create market opportunity. The description of activities which is used in marketing activities that
are as defined:
Assessment 1
Product characteristics and market significance
Aston Martin which is famous for Luxury sports cars and grand tourers is planning to
create market opportunity by bringing electric cars in market. This product is having different
characteristics like internal combustion engines, mass production of cheap gasoline vehicles,
electric starter, advance batteries, charge port that allows the vehicle to charge the traction batter
pack, device converts higher voltage, onboard charger, power electronic controller that manage
the flow of electrical energy, Thermal system that helps to maintains the operating system and
transmission that is used to transfer mechanical power from electric traction. The demand of
electric car is high that will be a great opportunity for Aston Martin to introduce such type of
cars and gain highly competitive advantages.
Significance of market
The main reason behind introducing electric cars in market is the concern over
greenhouse gas emissions and its contribution to global warming. The purpose of creating
electric cars that can reduce or eliminate exhaust emissions that helps to combat from such issue.
Electric cars will help to reduce the emissions by contributing to change climate, smog and

economical damage. Moreover, this product would help to improve the public health and
increase brand image effectively. Therefore, it is a market opportunity that states electric cars
will help Aston Martin to get an opportunity and make profits.
Target market, their needs and preferences
Target market is a group of consumers and organisation that shows their interest to buy a
particular product and services. Aston Martin is targeting to rich people and between the age of
25 to 60 years. This product will help to increase the customers base as well as market image by
selling the attractive products. The motive behind introducing to attracts allied customers and
sale them products. Therefore, this organisation is giving preference to those people who are
showing their interest to buy electric cars and wants to maintain their profile in society (Bahl and
Chandra, 2018).
Environmental Factors Affecting Marketing Mix on Aston Martin
Political factors:- Political factors includes the policies, rules and regulation which
government establishes in its country. Any change in these affects the business in a huge way.
The Aston martin price and the product offers will change with any change in rules and
legislation of the government. Because when the political party in UK is unstable then its rules
and legislation will also change frequently which ultimately will creates problem for the
company as it has to make changes in its product according to the changes which may also
fluctuate the price associated. Hence affecting the price and product marketing mix variables.
Technological factor:- Technological factors refers to the level of technology prevailing
in a particular country, technology used by companies and technological advancements. More
the advancements, less would be the cost incur. Aston Martin will soon be coming with
electronic cars as they know that the future is non- petroleum and diesel cars. The company has
come up with this advance electronic product for which company will choose a whole different
and innovative way for its promotion to introduce this technology to the people. Hence affecting
the product and promotion marketing mix variables (Camilleri, 2018).
Social factors:- Social factors include the attitude, beliefs, perceptions, taste and choices
the people have in respect to a topic or thing. It also includes the demographics of country,
family size, health, work, income, lifestyles etc. By evaluating such factor a company may get to
know more about the targeted customer and the attitudes they all carry. Aston Martin, by
analysing its market can know about it. By this it can develop the product such that it fits with

the choice and trends of his target market. Accordingly it also can set its product price and the
modes of product promotion. The company will also set its showroom which is easily accessible
to customers and also where the showroom structure fits. Hence, affecting the price, product,
place and promotion marketing mix variable.
The level of customers services to be provided
Aston martin is having an opportunity of coming up with some new electric vehicles as it
has been seen in its external market that both government and customers are having a positive
perspective about that as it lead to reduction in carbon emission that facilitate better solution for
climatic crisis. From more than 100 years Aston martin is well know for its expectationally
designed and high quality cars with the help of handcrafted productions methods. To produce a
better quality electric vehicles and cars to gab the existing opportunity Aston martin has adopted
a new innovative solution for manufacturing and designing of its new electric vehicles that lead
to enhancement in its manufacturing efficiency and improve their ability to deliver a truly
bespoke product to satisfy its customers through delivering a product with highest quality
standards. Beside this a high level of customers services is also provided on its new electric
vehicle with extended product warranty and services contract to attract large number of
customers for its product. It also ensured by Aston matron that all repair work is undertaken by
the trained technicians of Aston Martin, using genuine Aston Martin parts that ensures that the
car receives the best care and will satisfy the customers needs for a longer span of time
(Goldberg, Fishbein and Middlestadt, 2018).
How the product and services will be distributed
Aston martin is a global automotive brand which is having its presence spread across
various countries of world like Turkey, China, Qatar, Austria, Denmark, France, Riyadh,
Jordan, Greece, Monaco, Germany, Italy, Sweden, Canada, Peru, Russia, United States, United
Kingdom, South Africa, Kuwait and many more. Therefore, it become necessary for Aston
martin to have an effective and worldwide distribution network. For effective distribution of its
new electric car, Aston martin has planned to make use dealership programmes and its own
exclusive showrooms to deliver and ensure effective supply of its product. The new electric
vehicles can also be seen and liked by customers through its official website but in its starting
phase the electric cars will only be sold through exclusive showrooms and authorised dealers of
Aston martin to maintain its product viability and exclusiveness (Hanssens, 2018).

How the product will be priced
The pricing of a product plays a crucial role in attracting a customers and maintaining a
desired profit margin level therefore an evaluation of various pricing strategy is necessary for
Aston martin before deciding and fixing a suitable price for its product. The various proing
strategy that can be adopted by Aston martin for its new product are as follows:
Premium pricing strategy- it is a strategy of charging high values and prices form
customers for exclusive and luxury products. As Aston martin is having a history of producing
and delivering luxury items to its customers therefore, it can adopt premium pricing strategy for
its new electric car to attract upper middle class and elite sector of customers.
Penetration pricing- under this prising strategy the price charged for product is
artificially low and it is adopted by organisation to gain market share. In its starting phase of new
product this pricing strategy can be adopted by Aston martin but unto that level only where it
effectively meets its cost and profit margin (Deepak and Jeyakumar, 2019).
Competitive Pricing- it is a pricing style where process are set on the basis of pricing
strategy of competitors in order to get better competitive strength in the industry. Competitive
pricing strategy is best suitable for Aston martin for its new product as it facilitates a pricing
strategy that will yield it more competitive strength.
Thus, from the above stated pricing strategy use of competitive pricing will be made by
Aston martin it it will yield better product positing in market and also provide better competitive
advantage in business environment.
How the product will be promoted
Media requirements for target audience
It has been planned by Aston martin that use of digital media and online channels of
communication will be made for promotion of new electric vehicles as it facilitates a wider reach
and assess to all the customers across the world.
Campaign requirement for target audience
Aston martin requires to have an effective and attractive campaign to attract and appeal
its target audience to buy its new electric car therefore use of consistent communication program
will be made by Aston martin to target its stakeholders segments through customer oriented
practises. For having a continuous campaign and communication use of magazines and
billboards are made. Beside this the market companion strategies of Aston martin for its new

electric vehicle it has planned to take part in various racing circuit and tournaments so that better
resignationist can be get. Beside this Aston martin has also made sponsorship agreement with
various famous actors to promote its electric vehicles (Shahzad, Haris Qureshi and Abbas, 2018).
Creative requirements
The creative requirement of its campaign includes various racing tournaments together
with association with James bond movies to feature its cars through several films to attract a
lager number of speed and racing lovers. Besides this use of a print publication to stand out in
automotive industry is also made by Aston martin (How Aston martin uses print to stand out in a
competitive automotive industry, 2020).
Confirming budget
The estimated budgets for launch and effective marketing campaign of new electric car of
Aston martin and its bifurcation has been provided in following tables:
Particulars Amount
Technological expenses £100
Marketing expenses £120
Administration expenses £80
Other expenses £60
Total £ 360
Timeline and duration of campaign
The estimated timeline and duration of this marketing companion that will include
various racing tournaments and interactive activity to attract larger section of customers is 40
days. In this 40 days all the promotional activity will be conducted by Aston martin through the
way of games, interactive activity and racing tournaments for effective promotion of its electric
vehicle. But the promotion through social media and other digital channels will remain continue
to communicate information about the features of the electric vehicles (Hatta, Rachbini, and
Rahmawati, 2018).
Any other products/ services that will be offered
Aston Martin is planning to introduce introduce a new electric car with attractive design
and features that will create a good market image as well as brand image. By introducing new

product it can attain the organisational objectives that capture market share. The new product in
electric vehicle of Aston Martin is EV 11 that will helps to create the brand opportunity.
Expected results of marketing mix on implementation
To implement marketing mix, the company has expected some of the results that they
will gain after implementing it. Aston Martin managers has expected that they will effectively
deliver its electronic car through using various mediums. They assumed that the electronic car
will gain huge market through the elements of marketing mix. The key performance indicators
that they will be using are return on investment in ad spending, customer lifetime values, brand
awareness rates and many more. Through these indicators, it will analyse performance of its
marketing and sales team for the implementation of such mix. In starting three months, the
company assumed that they will gain around $ 49 million as revenues by selling the product
across nation. The company managers also expect favourable views for the product, pricing
strategies and distribution systems that will be used in marketing mix. Moreover, they have also
expected that more than 40 per cent of targetted market will be satisfied through generating
awareness and promoting the product in such manner that motivates customers to purchase it
(Joueid and Coenders, 2018).
Expected duration of marketing program
Marketing program is coordinated as well as well designed set of activities that are
designed for attaining goals. All companies set some duration period within which they makes
the marketing programs and implement actions. The duration acts as blueprint that shows that all
the actions as determined are required to be completed within the set timings. Depending on the
time period, marketers along with organisational managers takes time to complete workings.
The expected duration of the marketing program of Aston Martin is around 6 months or 180
days. In this duration, company will perform various types of activities that will require huge
time period. Following is the expected duration with activities to be performed:
Duration Activities
01 day to 05 days Defining objectives as well as KPIs
06 days to 11 days Describing niche or target markets and channels.
12 days 14 days Describing service or product
15 days to 30 days Outlining marketing along with promotional strategies

31 days to 60 days Identifying and understanding market competition
61 days to 95 days Evaluating current resources along with processes
95 days to 100 days Establishing market goals which are quantifiable
100 days to 105 days Setting budget
105 days to 155 days Implementing actions
155 days to 180 days Testing, evaluating addition to optimising
How the program will be reviewed
The marketing program is overall business plan. It acts as blueprints for organisational
marketing strategies. Businesses uses wide types of tactics or tactics to review their set
marketing program. Few of the ways or strategies for reviewing marketing program includes
reviewing sales number, market reach expansion, outside salespeople feedback, market gap
analysis and so on. In context to Aston Martin, managers will review the plan through testing
and monitoring all the actions that were put on the campaign. Addition to this, the entire
management team will also contribute in reviewing the marketing program through analysing the
gained sales number Social factors:- Social factors include the attitude, beliefs, perceptions, taste
and choices the people have in respect to a topic or thing. It also includes the demographics of
country, family size, health, work, income, lifestyles etc. By evaluating such factor a company
may get to know more about the targeted customer and the attitudes they all carry. Aston Martin,
by analysing its market can know about it. By this it can develop the product such that it fits with
the choice and trends of his target market. Accordingly it also can set its product price and the
modes of product promotion. The company will also set its showroom which is easily accessible
to customers and also where the showroom structure fits. Hence, affecting the price, product,
place and promotion marketing mix variable. wherein managers will review the current sales
number with that of desired numbers. They will also monitor the performances of employees in
terms of making relationships and communicating details about product to the targetted segments
and customer reviews for the campaigns. Along with this, feedbacks will also help the chosen
business to review the campaign. Moreover, the other way to review the marketing program for

selected opportunity is customer need review as well as gap analysis wherein the marketers will
identify that the customers have positive attitude towards product or not and when gains
unfavourable responses then they makes some changes in the program to market. Along with
these strategies, the entire marketing program will be reviewed by managers through proper
planning (Rossi, 2018).
Assessment 2
Success or lack of marketing campaign
Marketing campaign is the program that involves well planned actions crafted for
attaining all marketing objectives of company. Companies generally gains success in their
marketing campaign as they makes huge efforts for promoting the product in dynamic market. In
relevance to marketing campaign of Aston Martin for the electronic car, there are major chances
of achieving successful results. When the company will be able to spark interest of customers,
increase their product sales and gains huge amount of revenues then they gain success.
Moreover, company have designed the entire marketing campaign by considering the customer
choices and market conditions that assist the the aspects of successful results. But, due to
uncertain situations, like changing customer preferences, inaccurate forecasting, developing
wrong personas, wrong targeting of the content in buyer's journey and many more, can result in
lacking or failure of the campaign (Kord and et. al., 2018).
Possible reasons of campaign result
For any campaign, there are two possible results that are success or failures. Campaigns
gains success when all the set actions are effectively implemented and favourable results are
analysed. At same time, when unfavourable results are analysed then it results in failure. In
context with marketing campaign of Aston Martin, the results found were successful one. The
reasons for this includes proper management in designing and implementing actions for the
campaign, adopting suitable platform for promotions or marketing, increased conversations with
wide located targetted consumers and effective planning (Paul, 2018). Furthermore, providing
suitable information according to needs of customers is also the reason that results in successful
results of campaign. Along with this, other reasons on successful results are creation of powerful
message for audience, accurate collection of market data, delivering content on right time as per
buyer's choice, sufficient research, enough time given to the campaign and meeting regulatory as

well as brand compliance guidelines in proper manner. The adoption of suitable marketing
strategy was another reason that resulted in successful outcomes. The policies of the government
of different countries were favourable that helped the entity to successfully implement the
marketing campaign in various areas of country (Domazet and Kovačević, 2018).
Factors that have attributed to the campaign outcome
In business era, there are many factors which have attributed to campaign such proper
strategic planning, evaluation and monitoring the activities are consider as effective factors will
help in campaign to get possible outcome. For introducing new products and services by Aston
Martin it will helps to provide information and attracts customers to get desire outcomes. The
advantages of such campaign increase in product range and customer base by providing
attractive products to customers. Market needs and preference has evaluated by marketers that
will help to introduce from electric cars with the help of marketing mix, will improve the
organisational productivity and profitability (Bruhn, 2019).
Modifications that can be implemented to improve the future results
For getting good results in future Aston Martin has various option which can help to get
possible results. By changing the prices according to competitors and reducing the cost of
manufacturing it can get outcomes. Moreover, by using advertisement and ambassador
promoting way it can increase sale of products. By adopting market development process
organisation can increase productivity and profitability as well (Rampal, 2018).
How the modifications will be reviewed
There are different ways which can be used by organisation review its modifications
which had done by Aston Martin in order to get good results. By using KPI tool Aston Martin
can review its modifications which are necessary to get the market opportunity as well as
increase in brand image. This tool will helps to identify the variation between all activities and
evaluate the success by monitoring all actions effectively.
CONCLUSION
From the report it can be concluded that marketing mix is the important factor which is
used by organisation to get the success. It involves various activities like product, price, place
and promotion that are important for organisation and helps to make profitability. There are

many environmental factors which affects the marketing mix and helps to get the business
success by implementing various strategies.

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Available Through:<https://www.bandt.com.au/aston-martin-uses-print-stand-
competitive-automotive-industry/>.
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