Marketing Principles Report - Aston Martin Marketing Strategies

This report delves into the application of marketing principles, using Aston Martin as a case study. It begins with an introduction to marketing procedures, including essential components like situational analysis, marketing strategies, planning, and implementation, along with their associated benefits and costs. The report then examines the micro and macro environmental factors influencing Aston Martin's marketing decisions, such as suppliers, competitors, customers, political, economic, social, and technological factors. Furthermore, it explores the segmentation criteria employed for different commodities in the market, emphasizing demographic and geographic segmentation strategies. The analysis provides insights into Aston Martin's marketing approach, offering a comprehensive overview of its strategies within the competitive automotive industry.

Marketing Principles

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1................................................................................................................................................3
1.2................................................................................................................................................5
TASK 2............................................................................................................................................6
2.1................................................................................................................................................6
2.2................................................................................................................................................8
2.3................................................................................................................................................8
2.4................................................................................................................................................9
2.5..............................................................................................................................................10
TASK 3..........................................................................................................................................11
3.1..............................................................................................................................................11
3.2..............................................................................................................................................11
3.3..............................................................................................................................................12
3.4..............................................................................................................................................12
3.5..............................................................................................................................................13
TASK 4..........................................................................................................................................13
Covered in PPT.........................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
In response for an analytical business and functioning other activities for getting
advantages and disadvantages in business administration and there is regulation and terms
mentioned in which the management custom arrangements are taken away for business
functioning. The methodology for marketing are in very wide range including components such
as designing of the product ,making deep research about product, getting promotion and helping
clients. The core principle for Business corporation is marketing function which acts as a centre
part for it .(Jobber, Ellis-Chadwick, 2012.) In a highly competitive marketplace an effective
marketing is a significant determinant for the success of the corporation. For the profitability and
growth of the business, the main principle is based on the marketing needs and demands,
functionality and its performance in order to completely understand the impacts on marketing.
The current research is analysed on Aston martin which is a multinational brand image and is a
British manufacturer of luxury sports cars and grand tourers. The below carried out study is
focused on the different marketing elements and there advantages and cost effectiveness of
business orientation process. Further macro and micro environmental factors which play an
important role in influencing the marketing decision are evaluated (Allyson Dooley, Jones and
Iverson, 2012).
TASK 1
1.1 Essential components for Marketing Procedure
Main ingredients for the marketing procedure includes different process including
increments, product scheming, costing, strategical planning etc. The process of marketing is very
essential in order to creates value in the market by taking various things into the consideration
such are assisting, inspiring and gratifying the demand of consumer in the market. With the help
of building good relationship and delivering best services the firm is able to take good return on
the investment. The process in relation to the marketing is inclusive of various things such are as
designing, valuation and advertising the various factor with the help of this kind of the activities
can be grow in the large manner. Commission For initialization the key scheme done for the
conceptual purpose, the most significant and crucial components for business procedure which

play a key role and are essential for the successful marketing and making the foundation for the
management which are mentioned as follows:-
Situational analysis.
If Aston Martin wants to launch a new model of car or any new up-gradation in the
existing product, then the first priority for the company is to make detailed research on marketing
and to prepare the database report on it. The actual database or analysed report should contain
demand and needs of the market and consumers. (Sheth, Sisodia, 2015.)There are few analysis
which will also help the organization about the changing preference and also the trends in the
market which will also invite the customer and which in turn will aid the corporation in
innovating and designing products according to consumers.
[Source- Elements of Marketing Principles, 2016]
Marketing strategies.
Once the organization is ready with the research report and the relevant data of the
market, the company will be able to find the position and the image of the product, For example
where the product stands, and also the goodwill of the company and the strength and
weaknesses. Further the company will be aware of and will have an idea about the strategies and
plans to be implemented for future growth an development and the essential factors to be

adopted by the organization for tackling the competitors and succeed in the marketing
environment. (Deshpande, Rundle-Thiele, 2011.)These strategies helps the organization in
deciding the the vision and mission and also the goals and objectives of the company.
Planning.
As the company know what are the desired targets and the goals so for attaining the same
a proper and appropriate track should be developed. And in order to do so a planning or a system
should be created which should contain the path to reach the aim of the organization. Creating a
plan is the job of the marketing department of Aston Martin. The main ingredients of the plan
should involve sales forecasting, communication methodologies, financial planning, and many
other milestones which determine how the company will be attaining the the strategic goals in
the upcoming time.
Implementation and control.
Aston Martin should have a team of experts who should be engaged in preparing plans
and procedures to control errors done by any of the employees in marketing process.
Implementation of the same should be observed by organization. (Allyson Dooley, Jones,
Iverson, 2012.)
1.2 Benefits and cost of market orientation
The following research is presented to provide a better understanding of the benefits and
costs of the marketing orientation to the Aston Martin which is an automotive manufacturer. This
concept is based on finding out the ,most appropriate tools and mechanisms and which are
utilized to market the products and services to the consumers (Armstrong and et.al., 2014).
Cost of Aston Martin- The profit margin of the firm can get affected by the various kind of the
parameters such are as house insurance, debt overdue and credit card debts etc.
Advantages/benefits of market orientation.
 The first most benefit is that this concept is customer centric and the whole organizational
structure and the business activities are built around the needs and wants of the
consumers needs and wants.
 An another benefit can be considered Client retention because the consumers now have a
ear of the organization on the multiple levels and the consumers will receive faster and
attractive responses for their needs and they will start feeling their importance in the
organisation. By depending in the choice of the consumer help to create the good image

in the eyes of the buyer and he uses to do shopping in the repeated manner. With the help
of the developed strategies, commodities and services the firm is able to make the good
reputation in the eyes of the public. This will help in order to promote larger amount of
profitability.
 In the above stated organization this process has enhanced and development the
efficiency of distribution of the products (Armstronget.al., 2014). Brand loyalty of the
organization and goodwill,will also lead in increasing the satisfaction level which in-turn
will results in good enhancement of the organisation.
 To appropriate the customer with defined and clear message about goods and service
organization possess knowledge of what the market wants in order to increase efficiency
in marketing of product.
An disadvantage concept is used by Aston Martin because it is a quite expensive measure
as it demands high planning and research and it also includes various kinds of operational costs
which can be considered and which are explained as below.
According to the report it has been analysed that by taking good strategy the firm is able
to achieved the large amount of the market whereas the other company is loosing their value in
the market. This kid of the system is very helpful in order to giving edge over the customer in the
market.
Cost of Promotional
(Wang, Pizam,eds., 2011.)For this process advertisement and selling promotional costs
are high . Where as managing maintenance costs and a good communication process with
consumers is demanded for the business unit and increase the selling skills.
Market survey cost
The cost of research and development is significantly high. Vodafone is such a telecom
organisation which undertakes an effective market research and survey to adhere local trends
and demands.

TASK 2
2.1 Description on the macro and micro environment factors of the firm.
In this section, marketing strategy of Aston martin which is a brand that manufactures
the sports cars have been discussed. Factors which influence the marketing decisions of Aston
Martin are mentioned below :the micro and macro environment
[Source- Micro Environmental factors, 2016]
Micro Environmental factors: This includes those factors which involves the factors
that are related with industry on an external basis and have potential to impact entire organisation
in a great way. Thus, these factors are necessary to consider before making any decision.
Suppliers
The micro environmental is the component which is the most influencing character as
they play a great role in determining the prices of the products in the market.
Illustration 1: Micro Environmental Factors

Competitor
In the selling price ,profitability and different activities within organisation are
considered to be the one of the most influencing as they are wholly liable and responsible in the
fluctuations brought by competitors in the organization (Kotler and Armstrong, 2013).
Customer
The demand is totally based on this component and which is the most effective factor for
an organization is the significant role played by the buyers.
Substitutions
This concept as they are liable to influence the consumers and divert them for buying the
product and switch to another one as Substitutes are the crucial component in the organisation.
New entrants: (Smith)The new entrant brings the products at a lower cost then it will
automatically effect the market of Aston Martin is such a components that also effect the
marketing decisions of the organisation.
Macro Environmental factors: The macro factors are composed of those elements
which exist at extrinsic level and are uncontrollable for an organisation. These elements have a
great impact on significant decisions and strategies of company.
Political: Operational efficiency is directly impacting the political factors which has
emerged as a great challenge for Aston martin because the firm has chains in many countries and
every nation’s political stability and foreign policy.
Economic: To maintain stability in business around the globe the organization always
need to think about profitability, growth, expansion and economic policies to balance between
profitability and growth and considers the production cost, demand, supply, differential
economic growth and exchange rate according to Aston Martin.
Social: Trends and demands of the consumer should be analysed and products are
developed accordingly to Aston Martin (Wells,et.al.,2011)in which operating globally and so the
company considers cultural, religious and traditional factors of the nation in which it is
operating.
Technological: Aston Martin is making the use of the updated mechanisms and machines
in the retail outlets. The modern methods and appliances are used for arranging the products in
the outlets so as to operate easily it functionality in the organization. To manage and maintain the
uniformity and quality globally company has adopted upgraded technology.

2.2 Description on the Segmentation criteria which is used for differed commodities in the
market.
The segmentation process for Aston Martin is important as mentioned below:-
The trading division and the related product different ways helps the management in
order for profit orientation advantage many tech-methods are used for evoking different
consumers. (Harris, 2012.) The location, dislocation, to whom, when, where, in which way and
the time is decided by the management for marketing the product or service which indeed helps
in increasing the profit making efficiency by making sensible movements in the particular
segments with the concepts help(Corrigan, 2011).
The Aston martin is using the segmented targeted marketing strategies. The main purpose behind
adopting this is to satisfy the customer in the market in the large manner. This kind of
segmentation is covering the various areas such re as geographic segmentation, demographic
segmentation, psychological segmentation, geographic segmentation with the help of which
major focus can be given on to the utility factor of the consumer. This company is having lareg
amount of potentiality in this manner they can enlarge their business in the globally manner and
can expand their working in the diversified sector. With the help of the perfect segmentation in
the firm they are able to take the decision in the effectively way.
Demographic Disconnection: On the basis of the caste, creed, gender, income, ethics,
age and family life cycle and background there is division in market known as Demographic
Disconnection. This segmentation act as an important aspect according to Aston Martin is a
luxurious and sports car manufacturer and have a need to consider . For the example, Auto-
mobile can be considered under esteem needs of the consumers in every age group, having any
income source or working with any organization.
 Age- For transportation purpose cars are considered as an essential demand for age
group ranging from 18 till senior citizens .
 Income- As Aston Martin is a luxurious car brand image only high income group can
afford these cars.
 Occupation- Businessmen and other professionals can buy the products of the company.
Psycho graphic segmentation: These are the segments which depends the physical
appearance, personal lifestyles, standards, motives and society of people so that organization
understands the needs of people before launching the product in the market. (Ebert, et.al. 2014).

Firm care and knowing its costumer are the basic about the Austin Martin. The organization also
adopted the civilization for different countries as per the living standards and the convenience of
the people. For example,:-
 Social class- Organization's main focus is towards offering the best range of features
they can. Here the customer will always buy to maintain his/her social class.
 Lifestyle- this segmentation is all about where customer stands in his life cycle.
Different customer have different lifestyles, so according to particular income group or
needs segmentation is done. For example: Sports cars for youngsters, Business class for
professionals and businessmen.
2.3 Targeting strategy
With the help of this kind of the strategy the firm is able to survive in the market for the
longer period. This kind of the things is very helpful to have good return on making the
investment. The main target behind adopting this strategy is to spread positive influence in the
mind of the customer and they used to purchase the product in the repeat manner this will helpful
in relation to bring the larger sustain in the market. With the help of this the store is able to have
effective decision in relation to identify the seasonal and regional effect on the food and non-
food categories. By organising the products by the cost and type of the products the area of
utilisation is need to be considered. Below mentioned are some targeting strategies through
which Aston martin targeted the markets:
Undifferentiated Strategy: Making customers aware about the benefits and features of
its product by introducing the same promotional for every age group, class of people. This
strategy can be successful only when the company's product is affordable, readily available. But
very few organizations are their who adopt this type of strategy.
Recognizing different Strategy: The fundamental way company adopts is to provide the
product information to their costumer and its related feature so that costumer feels the necessity
to purchase it.
Centre Scheme: The advantages desired by the individual specific segment for future
customer publicizing message can be helpful in communication.
Being a non differential, the focusing methods suits to Aston martin because it has
variation in the models. Huge public are focused for the strategy targets, also focusing on the
promotion of services and products. Segment difference are neglected that exist within the

market by the organization and company take complete benefits of marketing strategy for
appealing to as many as possible consumers. (Kotler, Armstrong, 2013.)Being having a different
targeting strategy is helpful selling of the products by focusing and taking help of public
advertisement. It also depends on marketing and way of launching their product in the market.
Such company's should definitely adopt different strategy for making great sale in the
showrooms with the help of advertising there products in order to achieve the goal or target of
the company.
In this manner it is essential to understand the 4p's of marketing such are as promotion, price,
place and product. This kind of the activities directly effect on the buying activities of the
consumer in the following manner are as-
Promotion- This kind of activity is very helpful in order to promote the product ion the market so
that firm can able to enlarge their oppression this kind of the thing is very helpful in order to
keep aware customer about their product and services.
Place- The location plays effective role in relation to attract the customer in the large manner.
The employees of the Aston martin are aggressively making decision in order to opening more
stores.
Price- The factor of price plays the effective role in relation to attract the more number of the
customers in the market.
Product- by taking various kind of the innovation process the firm is able to deliver the good
product in the market so that it is able to attract the larger amount of customer attention.
2.4 Buyers behaviour
Study is done on the behaviours and buying habits of customers is known as buyer’s
behaviour. The analysed database contain mostly about their regards, desires, needs, liking and
satisfying levels for customers. Complete marketing strategies are controlled by the behaviours
and now the description on the circumstances that decides the consumer's behaviour:-
Cultural factors: The consumers behaviour for buying the product is affected by this
important component. If we understand the person's cultural wants and behaviour then marketing
can be easily analysed according to it . Marketers surely attempt identify the cultural methods
directing the focus towards newly launched products which might customers need or to reach
the maximum demands. For different religions, regions, groups and even countries the culture is
different and to influence according to the culture marketers should analyse and be careful about

this variation from country to country. For example, let a country be a developed one, then
population will be willing to buy more of luxurious cars as their level of income will be high
(Tanner and Raymond, 2011).
Societal factorization: Societal factorization affects the buyers who buy the product
because of their behaviour which is influenced by the community they belong and environment
they live. The division further continues to the sub-cultures classified as religious, racial and
nationalist groups. The most important societal factorization are as follows : family belongings,
their status, referred group and status.
Concerning private factors: Again one of the important role played for the influencing
the buyer's behaviour. Important private factors are shown below like socio-economic
situations, age group and personality developed and living standards . For instance an individual
from a middle level income group won't be able to buy the car of Next PLC.
Psychological factors: Psychological factors are being categorized among four groups
affecting the consumer buying behaviour. These are: being motivate, self learning, attitude and
faith, perception for selling all are needed as they influence the consumer and affects the buying
behaviour.
2.5 Proposed positioning strategy
Positioning strategy is defined as an effort or strategy so that they can make a greater
impact on perception of consumers . Motive behind the technique make point in mind and target
market as well as costumer in a positive way about the product and the service the organization
provides. Aston Martin can follow or use the given positioning strategies for establishing the
market and new Aston Martin Vanquish in category of high power sports car :-
The present defined tactics of the organization which is used is are very easy but creating
the great impact to the organization, there is certainly need of improvements and tactics for
establishing the above stated product. The price quality can be great approach for the launch of
the new product in the organisation.
For creating the good and positive impact in the minds of the clients the relationship
between the price and quality can be maintained for instance the product can be priced as per the
quality of the products. Suppose the up-gradation or adding the features like conforts in the car
will make hike in the price. This positioning strategy helps the organization as this ideas are
exclusive and attract the high standard people or the creamy layer of the society. The

organization had a guarantee and ensure approach related to the consumer mind that there
product has the standard quality and is high class. The quality and standards are maintained by
the organization so that consumers makes interest in buying and paying the maximum amount
for the cars (Kotler and et.al., 2015).
TASK 3
3.1 Development of product for competitive advantage
Estimated price for leadership: Utilizing this strategy organization sets its objective to
maintain the lowest-cost producer in the market. It's a traditional approach to achieve the goals
and provide the services in integrated manner which enables the increment of the economic sacle
of the business. For the mid-sized and small banking organization the cost leadership is not a
practical concept as they requires a high investment level in order to make a remarkable mark on
economic scale.
Divergence : The business corporation uses the concept in order to differentiate from
there competitors, so that there commodity and services are different by the benefits,
characteristics and features form others. Through this a unique identity is established in the
market by the company making it different from others. Which will result in the hike in prices
for its product and services of company. The costumer should always have different needs and
demands making an important issue for any business adopting this strategy and words from
company that given product has differentiation and no other company can satisfy your this
demands and needs .
Focus : This strategic helps in dominating above any of the organization by a
comfortable employment. Also this approach helps the company to get into the restricted area of
a market . This makes firm business organization that helps in succeeding with focusing and
understanding the key importance and unique customer needs of their market for the
comfortability.
3.2 Arranging distribution
There are various type of distribution strategies which can be used. Among them, for the
purpose of study we have taken two of the following strategies which are used by Barclays:
Offline

Here in offline distribution companies has come up with the idea of outlets of the
organization, which are considered as personal methods of distribution through which firm can
sell its services. In this offline distribution system channels are in direct connection with the firm
and no intermediaries are involved. Offline distribution system is considered as direct approach
towards customers because of outlets available in the region through which customers will avail
the service easily.
Online
For communication with costumer online medium can be used as powerful channel for
promoting the company through online websites, mobile phone and social media/stores
applications are provided by company. Online is such a method in which the form is cost
effective and is beneficial for the organisation. By visiting the online portal of organization
costumer can get the required detail about the organization (Lefebvre, 2012).
3.3 Ascertaining price element
For any organisation it's very important to plan its price especially when it's the banking
sector. The function of bank is to satisfy the consumer in all possible ways through services in
exchanging up to certain price tags. Bank should offer or launch new and profitable schemes so
that the bank can get more footfalls . Its been observed in various banking sector where bank
plays a very vital role for price of any services. As a result of which organisation engaged in
banking sector needs improvements and bring necessary changes in rate and price system. For
illustration regarding the application of pricing strategy, Barclays in banking sectors has recently
introduced attractive and amazing price schemes on its various services.
Expansion Significance.
Penetration pricing is defined as to attract a larger no. consumers in order to keep them
away other contestant brands. The ideology used is mixing of the quality product benefits and
keeping the price underneath to attract customers on modestly on there existing services.
Skimming is totally different, in which initial consumer's are selected in the marketing, so later
when prices are reduced broader market appeal can be made. Due to skimming it may make
sense to niche market of extremely selective consumers.(Corrigan, 2011).
Contestant disturbance
Competitors can enter the market by using the penetration pricing by cutting into lower
price points of products. If interest rates and fees is of lowest-cost and your product or service is

of effective quality, the burden on other competitors to justify higher prices on similar products.
With skimming ability to generate revenue and profits in an early way, subsequent competitors
may undercut your prices and defeat us. A superior and high quality product with good services
may aside the tough competitors to showcase the same quality to customers implementing to
accept your offering.
3.4 Integration of promotional activity
If promotion of new scheme has not made then difficulty is for people who do not get
aware about the services which are provided by Barclays. All promotional services provided by
the bank should be accepted as well as implemented by Barclays for promotional activity.
Promotional activity is the key point as there is clarity among all bank services which is provided
by bank. During the promotion bank should considered there promotional method should clearly
sound to the customer. Large number of people in less time should have impacted on
promotional strong enough so people get interested in it and ready to accept the term. While
promoting any scheme or policies a consistency should be introduced by banks . Importance of
consistency is there as variation may lead the organisation or the banking sector distracting from
there goals. Promotion shall help the bank in a very important role for Barclsys as there policies
and strategies can achieve goals of market. Marketing being essential should aware and make
clear all the services provided bank so costumer can utilize it effectively (Kotler and Armstrong,
2013). By using the services like internet and mobile friendly applications the company can opt
the latest trends for promoting its services because of which people avail and understand the
services and products of the company. Through this customers it will be ease to understand the
polices and latest trends about company also they will more aware about the services provided
by the organization. Through this self market is established which is very important in making
various promotional events and advertising techniques to attract the consumers through which
company principles will increase and will effect the other competitors.
3.5 Additional elements of marketing mix
Marketing mix can be defined as mix of elements which plays important and vital role in
planning the marketing strategy and getting the desired result for which all the market activities
have been carried out by the organization. One element alone cannot make marketing mix, since
marketing is making your customer aware about the service or product or brand, same is the case
with marketing mix which comprises of Product, Price, Place, Promotion, and additionally it

comprises of three more elements which are Process, People, Physical environment. This
extension of marketing mix is done in special circumstances likewise it is done in this case of
banking sector which have its impact on the banking schemes to be introduced by Barclays. The
following are the extended elements of the marketing mixes:
Process- Defined as providing services to the consumer. The organization finds different
manner which provides the best and satisfactory services delivery. At Barclays transparent and
hidden process is there. The important points noticed by Barclays is to control organization
provide the service in agreed time and good quality to the consumer.
People- Most significant substance for marketing mix as service is defined by them. It
belongs to the people having direct contacts with the costumer like staff workers . Customer
directly rely on the decent and effective services making it important parts in selling a product
by the company's staff (Ebert and et.al., 2014).
Physical proofs- Consumers needs the physical proof as their decisions based on the
service which is intangible. In business banks like Barclays can help in supporting physical
evidence by signature, symbols and artefacts.
TASK 4
Covered in PPT
CONCLUSION
After all analysis carried out it can be inferred that various substances of the marketing
mixes are very much significant for an organization and also evaluation is also done of the
benefits and costs of the marketing orientation for the organization. Moreover the small and large
level environment are examined for the stated organizations.

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