Marketing Plan for Brio 2020: Analysis, Strategy, and Implementation

This report outlines a comprehensive marketing plan for the Brio 2020, a budget-friendly car designed for the middle-class consumer. The plan begins with a target market analysis, focusing on California's demographic and behavioral characteristics. It then details a differentiation strategy emphasizing affordability and family-friendly features. The product features are described, including comfortable seating, automatic emergency brakes, and fuel efficiency. The report explores the three levels of the product: core customer value, actual product, and augmented product. Market implications are considered, and the current market development stage of the Brio 2020 is examined. The marketing mix strategy is also discussed, with recommendations for pre- and post-launch marketing campaigns. The report concludes with a list of references. This assignment is available on Desklib, a platform providing students with AI-powered study tools and resources, including past papers and solved assignments.

Marketing Plan
Brio 2020

Brio 2020
Contents
Brio 2020.................................................................................................................................................2
Target Market..........................................................................................................................................2
Differentiation Strategy...........................................................................................................................2
Product Features......................................................................................................................................3
Three levels of the product......................................................................................................................3
Market Implications.................................................................................................................................4
Product Life Cycle...................................................................................................................................4
Marketing Mix Strategy...........................................................................................................................4
References...............................................................................................................................................5
1

Brio 2020
Brio 2020
We have chosen a budget-friendly car for analysis of marketing strategy that can be applied to it.
Any country’s maximum population are able to afford only budget-friendly cars. Over 50% of
the United States population makes up to the middle class. Thus, there is a huge potential for a
budget-friendly car that is constantly updated with the latest features to capture a considerable
market share. In this report, we will suggest a marketing strategy for a budget-friendly car “Brio
2020”.
Target Market
Geographic Since California is said to have the highest demand for the cars (Statista,
2017)our first target area to launch “Brio 2020” is California.
Demographic The population falling under the age group of 25 to 50 both male and
female.
Behavioral These are the consumers who are ready to buy the vehicle through financing
option and use it for daily commutation. They prioritize durability and
economy as the most desired features in the vehicle.
Psychographic They are the people representing the middle class with limited monetary
resources and need to have a robust vehicle the meets their spending
capacity.
Differentiation Strategy
To make the product stand out in the market “Brio 2020” will be placed as the most budget-
friendly car able to accommodate a family of five with features that make it usable for daily
commutation in the city and the features will enable maintenance of the vehicle easy on the
2

Brio 2020
customer’s pocket. Thus, the pricing, as well as the features, will be suitable for the user’s
pocket.
3

Brio 2020
Product Features
Following are the key features of “Brio 2020”-
 Comfortable seating space
 Automatic Emergency Brakes
 The efficient Air conditioning system
 Fuel Economy
 High-end safety features
 Sporty handling
 Classic interior
 20% down payment and low-cost EMI.
Three Levels of the Product
Core Customer Value The major benefit that will be derived from the product is that the
customer will be able to have an economy car that will serve his
needs.
Actual Product The major features of the product will be low maintenance and
durability. The visual appeal will be decent and the add on features
will make the driving hassle-free.
Augmented Product Easy and low-cost financing options, 1-year warranty and immediate
delivery on a down payment.
4

Brio 2020
Market Implications
The actual product features to match with the desired features up to a great extent. The product is
able to meet all the three levels up to a great extent and a robust marketing strategy drafted
keeping in mind the needs of the target market and demonstrate how the features will meet
expectation will lead to a successful launch of “Brio 2020”.
Product Life Cycle
Brio 2020 is currently at the market development stage. The sales will be low at this stage and
the market will be less aware of it. The promotional strategy and reviews in the market will play
a major role at this stage (Bambri, 2015).
Marketing Mix Strategy
At this stage, it is necessary to do some more research on the customer’s mindset and explore
what else modifications can be made in the product to stand out in the market. The launch should
be well planned to correctly hit the target segment. A marketing campaign is required to be
spread before and after launch to create sufficient buss about the car.
5

Brio 2020
References-
Bambri, S. (2015). Product Life Cycle. International Journal Of Business Management, 781-785.
Retrieved from https://hbr.org: https://hbr.org/1965/11/exploit-the-product-life-cycle
Statista. (2017). U.S. automobile registrations in 2017, by state. Retrieved from www.statista.com:
https://www.statista.com/statistics/196010/total-number-of-registered-automobiles-in-the-us-by-
state/
6