Report on Contemporary Marketing Issues for Enterprise Rent-A-Car

This report provides an in-depth analysis of Enterprise Rent-A-Car's marketing strategies, focusing on contemporary marketing issues. It begins with an introduction to marketing and the company, followed by a detailed examination of the marketing mix, including product, price, promotion, place, process, people, and physical evidence. The report then applies Porter's five forces framework to analyze the competitive landscape and buyer power. Furthermore, the Ansoff Matrix is used to evaluate growth strategies such as product development, market penetration, diversification, and market development. The analysis highlights how Enterprise Rent-A-Car utilizes various marketing tools and strategies to attract customers, maintain market share, and adapt to changing market trends, concluding with a summary of the findings.

Contemporary Issues in
Marketing
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Marketing Mix.............................................................................................................................3
Porter's five forces.......................................................................................................................5
Ans-off Matrix.............................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Marketing is the organizational activity through this it tends to advertise itself such that it
is able to achieve increment is sales. Enterprise Rent-A-Car is the type of enterprise which tend
to provide rental car services to its customers at various geographic locations. Evaluation on the
effectiveness of marketing theories in context to attracting new customers towards the
organization is done in this report. With that analyses of the implementation of marketing mix on
the success of a company is also being evaluated within report.
MAIN BODY
Marketing Mix
Marketing mix is the tool which is often being used by organizations from evaluating its
performances in various contains, through which it make sure that it is able to evaluate its
performance in various contains. Following is the marketing mix of Enterprise Rent-A-Car.
Product
Enterprise Rent-A-Car tend to provide organizational services like car sharing, car rental,
exotic car and van hire. This provided to the customer along with company's Flex-E-Rent
division which tend to provide business solutions as a commercial vehicle (Enterprise UK,
2021). Through this company tend to ensure that it is able to fulfil the customer requirements by
this it can guarantee that it is able to accomplish high organizational sales. Through this type of
services Rent-A-Car secure that it is capable to attract the specific targetted customer base
which include travellers by proving rental cars (Siwa, Putrama and Santyadiputra, 2020). Also
through commercial vehicles it tends to ensure that it is able to attract other businesses as well
for transporting their vehicles to different locations.
Price
Organization has to assure that it is able to achieve high net profit margin and also at the
same is able to attract new customers towards the organization. Due to this the company often
tend to implement competitive pricing strategy on its products through which it secure that it is
able to draw new customers towards the organization. Also at the same time it is capable to
achieve high sales through which company's suitability within the market place is improved.
Since company tend to provide rental car services to the customers due to which it establishes its
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pricing on the hourly bases and other factors. Through this it tends to ensure that it is able to
achieve high sales and also at the same time is able to attract new customers toward the
organization.
Promotion
Rent-A-Car tend to advertise itself through an integrated means in which the company
used social media marketing for attracting new customers through the means of internet. This is
done due to the fact that since customers are screening high level of engagement in employing
the technological advancements. Therefore, by promoting company through the means of
internet it can ensure that it is able to achieve high level of customer engagement (Hess and et.al,
2018). Through which customer's loyalty with the company can be enhanced. With that company
also advertises itself through traditional means like newspaper, TV ads and many more. This is
done because social media usage is limited to the literate and internet users. Due to which by
advertising organizational activities through the traditional means can ensure that it is able to
achieve a high organizational sales.
Place
Enterprise Rent-A-Car provide its services at several geographic locations and because of
which company is able to achieve high organizational gross sales. Organizational services of the
company can be utilized through the means of physical company stores which are available at
various locations. Through which the customer can make a direct contact with the organizational
services also at the same time company's services can be utilized, through digital means like its
mobile application and company website. This is a effective way because by in order to provide
full level of organizational services to the customers, institution has to ensure that it is easily
available (Prieto, Baltas and Stan, 2017). Therefore, through mobile application it can ensure that
it is able to achieve high level of work ratio.
Process
This tends to represent the customer's operations for proving organizational services to
the customers. Since, Enterprise Rent-A-Car tend to provide rental car services due to which the
company uses different fuel cars of petrol, diesel for proving its services for car travel. This is a
effective way through this it tends to guarantee that it is capable to minimize the travelling cost
of the vehicles. With that in order to supply high level of services to the customers company uses
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technological advancements like GPS tracking of vehicles for high level safety of ride, this also
allow the customers to track their activities with the organization. Apart from that organizational
services can also be used through mobile application by which customers can make reservation
as per their requirement irrespective of time.
People
Since, Enterprise tend to supply its organizational rental car services all across the globe
due to which company tend to have many employee workforces. Through which it tends to
ensure that it is able to achieve high level of work productivity. This becomes significant due to
that fact that company has to execute its working as per the changing market trends and customer
requirements (Gomez Vilchez and et.al, 2019). Due to which it has to ensure that it is able to
make appropriate improvisations in its working process, through which it can provide new and
rare products to the customers. With that company has to ensure that a synchronized operation is
being established among different branches. Due to which it tends to provide efficient training to
the employees, through which their on the job operations can be synchronized by which the
chances of goal achievement can be enhanced.
Physical evidence
Company is having several customer touch points through which customers can make a
direct contact with the organization. With that customers can also achieve organizational services
through the digital means which include its application and website. This is an effective physical
evidence for the organization due to that fact that since customers are having high level of
engagement in utilizing the technological advancements (Danemo, 2018). Due to which
Enterprise Rent-A-Car also increase its appointment in integrating the technical advancements at
the work area. By which it tends to ensure that it is able to achieve high level of customer
engagement through which customer's loyalty towards the company can be increased.
Porter's five forces
Threat of substitute (High)
Enterprise Rent-A-Car tend to provide rental car services to its customers. The company
tend to operate in a marketplace which is full of some of the biggest industry competitions and
because of which, organizational customers are having an opportunity to choose the type of
services which they want to achieve. Due to this high market competition, company tend to
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ensure that it is able to improve the quality of user experience. Through which customers can
achieve a best in class services. Therefore Enterprise Rent-A-Car tend to utilize several
technological advancements by which it tends to develop an efficient communication bridge with
the customers. Also at the same time customers are empowered to rate the quality of experience
which they achieved through which company tend to minimize the threat of substitute.
Customer's buying power (High)
The buyer power is high for the case of Enterprise because the company has to ensure
that it is able to achieve a high level of customer satisfaction. Due to which company has to
implement several working ways through which the customers can be motivated to increase their
level of engagement with the company (RAMADHANY, 2017). Therefore organization has to
implement several steps creative steps through which customer loyalty can be increased. This
includes customer loyalty programmes like special discounts or other benefits and other pricing
strategy benefits. Through which new customers can be attracted towards Rent-A-Car and high
profit margin can also be achieved.
Threat of new entrance (Low)
Rent-A-Car tend to provide its organizational services in more than 100 countries
because of which company is able to achieve a large customer base. With that company also tend
to provide personal user experience to customers through company's digital customer touch
points like mobile application and many more. Due to which company is able to minimize the
chances of brand switching for the customers. With that Enterprise Rent-A-Car also tend to
advertise itself through the integrated means of social media marketing and traditional market.
Through which it is able to achieve high brand awareness and therefore the negative impact upon
company due to new entrance is minimized (Danemo, 2018). This becomes significant due to the
fact that company is having an efficient economic growth due to which it can make changes in
its working pattern accordingly by which desired target can be achieved.
Supplier power (Low)
Company tend to provide services like rental cars to its customers at an affordable
pricing. Since the company is not involved in manufacturing of cars due to which often tend to it
tend to buy or rent cars from various means. This is an significant way for the organization
through which it tend to achieve the organizational resources from various suppliers. Thus
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company is having an ability to choose the appropriate type of supplier by which it can ensure
that organizational expenditures made to achieve resources is being reduced.
Ans-off Matrix
Product development
It the organizational stage in which the company tend to introduce new product in the
existing market through this it tends to ensure that it is able to maintain customer's high level of
engagement with the company. Also at the same time institution tend to ensure that it is able to
increase its brand awareness by which structure sales can be enhanced. This is effective step for
the companies like Enterprise because since company tend to provide its services in more than
100 different countries (Enterprise UK, 2021). Due to which it is able to achieve a large
customer base and by proving new product it can ensure that its sales are increasing.
Market penetration
It is a marketing strategy in organization tend to advertise itself to the customers with
within the existing market area and with the existing products and services. Since low
organizational expenditures are being made because of which company can ensure that it is able
to achieve high sales (Khasawneh and Mustafa, 2019). Through this it tends to ensure that it is
able to maintain its economic growth and also at the same time is able to achieve diversity in its
customer base.
Diversity
This is an organization strategy which it tends to provide new product in the new market
place due to which high level of risk is also associated with this. Despite high risk this is also
very beneficial for the organization due to the fact that institution is able to provide new and rare
products to the customers (Fill and Turnbull, 2019). Through this it can secure that it is able to
implement premium pricing on organizational services because of which company can achieve a
efficient economic background.
Market development
Market development is the organizational strategy in which the company tend to focus its
efforts in increasing its geographic reach, with the existing organizational products. This is
effective strategy because company is aware of the specific customers base which is required for
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achieving high sales. With that customers are also aware of the organizational offering because
of which they are highly motivated to develop a direct contact with the company.
Thus in the present time of COVID-19 in which the travelling is affected due to which
company can utilize market penetration. Through this it can ensure that it is able to increase its
market share by which sales can be increased.
CONCLUSION
Through the above analysis it can be concluded that organizations has to ensure that it is
able to evaluate the current market trends and then tend to create working strategy. Through
which it tends to ensure that customers are able to achieve new and rare products by which their
level of engagement with the organizational activities can be accrued. With that institution has to
make sure that it is capable to closely monitor its organizational operations through which
organizational expenditures can be minimized and company can achieve an efficient economic
growth.
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REFERENCES
Books & Journals
Danemo, J., 2018. How is AI influencing industry competition?: An exploration of online
retailing using Porter’s Five Forces Framework.
Danemo, J., 2018. How is AI influencing industry competition?: An exploration of online
retailing using Porter’s Five Forces Framework.
Fill, C. and Turnbull, S., 2019. Marketing Communications: Touchpoints, Sharing and
Disruption. Pearson UK.
Gomez Vilchez, J.J.and et.al, 2019. Electric car purchase price as a factor determining
consumers’ choice and their views on incentives in Europe. Sustainability. 11(22).
p.6357.
Hess, S. and et.al, 2018. Analysis of mode choice for intercity travel: Application of a hybrid
choice model to two distinct US corridors. Transportation Research Part A: Policy and
Practice. 116. pp.547-567.
Khasawneh, N.A. and Mustafa, M.H., 2019. Measuring the satisfaction of domestic tourists on
travel agencies’ marketing mix: a pilot study from Jordan.
Prieto, M., Baltas, G. and Stan, V., 2017. Car sharing adoption intention in urban areas: What are
the key sociodemographic drivers?. Transportation Research Part A: Policy and
Practice. 101. pp.218-227.
RAMADHANY, A.N., 2017. ANALISIS STRATEGI BERSAING TRAC ASTRA RENT A CAR
DIVISI TRAC RENTAL DALAM INDUSTRI SEWA MOBIL UNTUK MENINGKATKAN
KINERJA SEGMEN B2C (Doctoral dissertation, Universitas Gadjah Mada).
Siwa, N.N.A.P., Putrama, I.M. and Santyadiputra, G.S., 2020, April. Development of car rental
system based on geographic information system and decision support system with AHP
(Analytical Heirarchy Process) and SAW (Simple Additive Weighting) method.
In Journal of Physics: Conference Series(Vol. 1516, No. 1, p. 012013). IOP Publishing.
Online References
Enterprise UK, About Enterprise Rent-A-Car, 2021 [Online]. Available
through:<https://www.enterprise.co.uk/en/about.html>
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