Individual Marketing Plan Report Oman

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Mercedes-Benz Oman Marketing plan Executive Summary Mercedes-Benz Oman is one of the top luxury cars dealers in Oman. This report proposes a marketing plan to introduce and promote customer satisfaction and experience in Oman for next two years. The report consists of the marketing objectives defined by Clive Hammond, CEO of Zrawawi Trading Company Automotive, Mercedes-Benz Oman; detailed situation analysis of the company has been conducted. The strengths, weaknesses, opportunities and threats are evaluated in detail using the SWOT analysis .Also external macro-environment has been analyst by PEST analyses. Next the market and customers that are to be targeted in this marketing plan has been defined in the report by market segmentations. Discussed in detail is the pricing strategy and initial budget for the company. Product strategies were discussed discusses in detail. Lastly, it has been proposed advertising and promotional strategies. It’s essential to measure the effectiveness of any plan/strategy is executed; keeping this in mind evaluation and controls has been mentioned in the plan to determine the effectiveness of the strategy. 2 Table of Contents Executive Summary ................................................................................................................... 2 1. CURRENT MARKET And COMPANY SITUATIONAL ANALYSIS .......................... 4 1.1. COMPETITORS: ........................................................................................................ 4 1.2. SWOT ANALYSIS ..................................................................................................... 5 1.3. PEST Analysis ............................................................................................................. 5 2. MARKET SEGEMENTATION ......................................................................................... 6 2.1. Geographic Segment: .................................................................................................. 6 2.2. Psychographics: ........................................................................................................... 7 2.3. Demographics:............................................................................................................. 7 2.4. Behavioural: ................................................................................................................ 7 3. MARKETING Objectives .................................................................................................. 7 4. MARKETING MIX STRATEGIES AND RECOMMENDATIONS ............................... 8 4.1. PRICING Strategies: ................................................................................................... 8 4.2. Product Strategies: ....................................................................................................... 8 4.3. Placement Strategies.................................................................................................... 9 4.4. Promotion Strategies ................................................................................................... 9 4.5. Recommendations: ...................................................................................................... 9 5. Evaluation and control: ..................................................................................................... 10 5.1. Annual sales analysis................................................................................................. 10 5.2. Profitability control ................................................................................................... 10 5.3. Efficiency control: ..................................................................................................... 10 5.4. Strategic control ........................................................................................................ 11 6. Budget: .............................................................................................................................. 11 7. 3 References......................................................................................................................... 12 1. CURRENT MARKET And COMPANY SITUATIONAL ANALYSIS 1.1. COMPETITORS: In the Oman region, Mercedes Benz organisation is active exclusively in the market segment of premium and luxury cars. In this small market segment, majority of rivalry facing Mercedes Benz organisation is from other highly reputed multinational luxury car manufacturers.  BMW BMW Oman is a strong competitor of the Mercedes-Benz Oman as the BMW organisation is constantly researching and finding new solutions for the customers in the Oman automobile market. The innovative car designs and appropriate car models help the BMW Company to grow and prosper in a proper manner that would be very much critical in the long run for the progress and development of the businesses..  Audi Audi organisation has entered the luxury car market of Oman with the aim of gaining a large share of this market as it is a quickly growing market. For its operations in this region, Audi mostly relies on its highly efficient global distribution network and for sales of the luxury cars, Audi has good partnership with local car dealers with exclusivity deals. In addition to offering brand new luxury cars in Oman, Audi Company is also very active in sales of used cars in the region, taking full advantage of the market share. Engaging in both new and pre-owned luxury car segment allows Audi business organisation to have more influence in Oman’s luxury car segment.  Land Rover Unlike Audi business organisation, Land Rover has a complete business network and distribution network in Oman to market and sale the luxury cars manufactured by the company. Another aspect that helps Land Rover organisation in appealing to the customers in Oman is the very unique design of Land Rover cars that differentiates the cars manufactured by Land Rover a unique appeal in the industry in comparison to other luxury cars. Currently, Land Rover has numerous official showrooms in Oman to increase its reach in the market and it also allows more customers to test drive Land Rover cars. 4 1.2. SWOT ANALYSIS Strengths:  Mercedes-Benz Oman is equipped with all latest models of Mercedes Benz brand, providing the customer with a vast auto mobile choice.(Omzest.com, 2015)  ZTC has a wide range of certified pre-owned Mercedes-Benz cars and all cars at the facility undergo quality checks by certified Mercedes-Benz technicians, so the company is able deliver quality and safe cars to the customers.  The technicians, supervisors and customer-attending staff continuously undergo training from Mercedes-Benz-the Regional Centre in U.A.E or at the factory in Germany. Weakness:  Mercedes-Benz is only operating in the 10.90 % of the entire automobile market.  Within this portion of the market ZTC has a tough competition with other luxury cars brands dealers, hence it has a Limited customer demand.  The Mercedes-Benz is known for its Expensive spare parts and it has a low mileage. Opportunities:  The government of Sultanate of Oman becoming a refined economic state that is encouraging investment and entrepreneurships (Stetsons, 2015).  Oman’s automobile market is expanding rapidly and vehicle registrations are expected to increase by 7.5% per annum. Treats:  With the limited portion to operate in market the ZTC Mercedes-Benz is facing a tough competition by other luxury cars brands  Customer shifting to other car brands can occur, which may impact the profitability of ZTC Mercedes-Benz 1.3. PEST Analysis Political The political environment in Oman is quite stable and that strengthen the ability of Mercedes to invest in its local operations of luxury car business. One aspect of political environment that is very 5 likely to impact Mercedes business model is the increased awareness among politicians to protect the environment. Towards this approach, EU is planning to make the standard stricter in terms of allowed CO2 emissions from new cars. Such a policy change would increase investment of Mercedes organisation in R&D. Economic The economic structure in Oman is very stable and local economy has witnessed steady growth at a good rate in recent decade. This growth has enhanced the spending power of average car user in Oman, making it possible for Mercedes Benz organisation to have a bigger target consumer base. In addition to this, as the Mercedes Benz organisation is a multinational business organisation, its operations will continue to get influenced based on the exchange rate of different currencies. Social The high pricing of Mercedes Benz cars and the premium brand image of company makes it a very lucrative offer in the automobile market of Oman. Based on the social structure of Oman, it is very likely that potential customers of Mercedes Benz in this territory would focus most on the quality of product and the status symbol that Mercedes Benz cars present. Technology Automobile industry is quickly adopting to new technologies and Mercedes Benz Company welcomes adoption of latest technological advancements. As the cars offered by the company are all in luxury car segments, it is important for Mercedes Benz to offer high-tech solutions and accessories with the cars. This includes accessories like air bags, well-tested windscreens, GPS systems, and latest safety measures in the cars to make the vehicle more efficient. 2. MARKET SEGEMENTATION The Market segmentation is the sub-dividing of market into homogeneous sub-sections of customers, where any sub-section may conceivably be selected as a market target to be reached with a distinct marketing mix.” (Kilter and Armstrong, 2012) 2.1. Geographic Segment: Mercedes-Benz Oman has a limited operation within the boundary. Mercedes-Benz Oman mainly market in the cities of Muscat, Shalala, Soar and Halima. 6 2.2. Psychographics: Psychographic segmentation use different psychological aspects to understand consumer’s unique wants and needs. (Solomon, 2007). According to the psychographic segmentation approach, ZTC Mercedes Benz divides the market into segments based on lifestyle, Social Status and values to gain deeper insight of the consumer. Mercedes Benz is the demanded by the CEO or the top directors of the companies, because it symbolizes their unique status and prestigious lifestyles. 2.3. Demographics: Demographic segmentation divided the market into segments based upon primarily on income, age, gender, education, occupation, and social class (Perrault, Cannon and McCarthy, 2009). The demographic of the Mercedes-Benz owner, includes a Company’s CEO and Directors, individuals with the household income over $100,000. The majority of the customers include male, and lower percentage of female. The typical Mercedes Benz owner is about 40 years old and above. The ideal targeting customers ages the 30-60. 2.4. Behavioral: The segment is differentiated from the other market area on the basis of the behavior. The issues that are faced by the businesses are resolved well by focusing on important strategies that can lead the business towards progress and growth. If such problems are present that are resolved and the business can emphasize on the changes in behavior of the customers as they want new and enhanced vehicles that have a positive image in society and provide complete comfort and satisfaction to the customers. 3. MARKETING Objectives  Capture at least 25% of market share for luxury cars in defined Target market. This goal can be achieved through different promotional events.  Occupy leading position in the automobile market luxury cars category by conducting different trade shows.  Create awareness among target audience by using excessive advertising especially using media preferred by the target market.  Use unique features like good design, low prices and comfortable environment to create a best customer experience and brand loyalty towards our brand. 7  Enhancing customer experience and satisfaction for the next two years 4. MARKETING MIX STRATEGIES AND RECOMMENDATIONS 4.1. PRICING Strategies: Mercedes Benz has different classes of automobiles available ZTC showrooms. The prices of the cars will be as following (Mercedesbenzme.com, 2016):  Sedan and Coupes In the Sedan and Coupes category Mercedes Benz has A, C, CLA, CLS, E and S class cars starting from class A $40,400 to class S $119,400.  SUVs and Cross overs In the SUVs category Mercedes Benz offers G Class, GLA, GLC, GLS and GLE SUV starting from $42,400 to class S $103,200.  Dream Cars In the Dream Cars category Mercedes Benz offers AMG- GT with price tag of $155,500, SL of $99,300 and SLC from $ 48,400.  MPVs: In the MPVs category Mercedes Benz offers V-Class from $49,900. 4.2. Product Strategies: According to Clive Hammond, CEO of Mercedes-Benz Oman has a “continuing commitment to delivering the Best Customer Experience.to enhances the Customer Experience Mercedes Benz can implement the following strategies (Beard, 2013)  The company needs to treat their customers like the boss of company, if employee treated each customer like they deal with their boss the service of the company will improve and so will the customer satisfaction, the company need to thank the customers for providing you with the business. you need to impress your customers and think they can raise your pay and always keep your promises and integrity  Mercedes Benz needs to Focus on measuring their customer satisfaction and according to studies 91% of unhappy customers will never purchase services from your company again and measuring customer satisfaction will help you reduce unhappy customers. Different Survey 8 Tools like Customer Satisfaction Metrics, customer support tools, score card etc. can be used to measure it.  The company needs to Build customer loyalty, it will automatically increase customer satisfaction because Customer satisfaction and Customer loyalty is interrelated to each other. Attics such as to empowering and educating the customers about your products. Top level managers must lead from the front with customer services and encourage customer’s participations. 4.3. Placement Strategies  The company needs to take continuous feedback from the customers and if you personally visit for the feedback, the customer retention will boom and avoid long boring surveys. The placement of the business is crucial for the success.  Accessing and being able to gather the Email can serve a best channel for the company to increase customer satisfaction and according to studies majority of the companies believe that email marketing is the most effective channel in generating revenue. 4.4. Promotion Strategies  The business uses advertising, sales promotion, personal selling and public relations concepts that are very much important for the effective sales and increased market share of the business in the competitive business environment.  The social media is an efficient mean to track and monitor customer satisfaction. Nowadays customers using their mobile phones up to 150 times per day, the social media channels can be a better way to target the customer and receive customer complaints. You can channels positive feedback and improved brand imaging. 4.5. Recommendations:  Mercedes-Benz Oman can launch a free Service Week, this way the company can receive positive feedbacks from the customers  Conducting frequently cars trade shows and encourage the customers to visit and they can test drive cars.  Mercedes Benz cans spongers events to attract customers and educate the customers about their offerings and services. 9  Mercedes-Benz Oman can offer different wining chances that can attract the attentions of customers around the market.  The reduction in the prices of the some cars will help in switching the customers from the competitors... This is accomplished by reducing the overhead costs like OWN payment etc. by developing efficient distribution mechanism.  Mercedes Benz Oman can use electronic and print media for the advertisement of their classical car.  Mercedes Benz can develop customer feedback services that can continuously monitor customer’s satisfaction. 5. Evaluation and control: 5.1. Annual sales analysis The annual sales analysis can help in comparing the expected sales with the company actual sales. Secondly you can do market share analysis of the market and compare your sales with the competitor’s sales (Ali, 2013). Market share analysis will help in identifying how well you reached your customers. The company can conduct the financial analysis and compare all financial details with the market and it will help in identifying the weakness with in the company’s operations.to check their performance, the company can design a market based scorecard. This will help in identifying areas in which the company is behind the market. It can help in identifying training requirements , market trends , treats and opportunities arisen in the market , customers behaviours etc. 5.2. Profitability control The profitability control can help the mangers in designed targeted sales and profit plans and control the waste and other costs. Define the responiablites of each individual and helps in taking corrective actions. 5.3. Efficiency control: the sales manager can calculate sales efficiency by continuously checking the average sales call par day , average cost , percentage of contracts, and customers lost and gains1.(onoya, 2013). The adverting efficiency can be measured by continuously checking the percentage of customer noted to ads, customer’s attitude and opinion .the distortion efficiency can be measured by the percentage of orders delivered on time and correctly. 10 5.4. Strategic control The strategic control can be measured through the reviewing your market, the internal organizational structure, suppliers, distributors and importantly your competitor and customers (Anon, 2003).to need to monitor the company’s operation is running accordingly to company’s mission, vision and objectives and continuously updating your information systems. Customer care system and integration systems. 6. Budget: BUDGET HAS BEEN DEVLOPED USING MARKET RESEARCH (Magazine, 2016) Advertising & promotional cost sorted down in the below table since the estimation cost is increased around 10% in 2018 comparing to 2017 estimation cost of Advertising & Promotional Cost Market Analysis Cost 2017 2018 $100,000 $300,000 $100,000 $120,000 $330,000 $120,000 $100,000 $700,000 $120,000 $740,000 $8,000 $8,000 Advertising & Promotional Cost Advertising activities Bill Boards etc. 1 TV/ Cable Networks 2 News Paper, Magazines, etc. 3 Displays & Road shows etc. 4 Internet based marketing 5 Promos activities Hand-out programs 1 $50,000 Promotional Contest Prize 2 Sponsorships activity Sponsorship of community events $80,000 1 Sponsorship of social seminars $20,000 2 $50,000 $80,000 $20,000 etc. Grand Total 11 $1485,000 $ 1588,000 7. References Ali, M. (2013). Consumer behavior on Mercedes-Benz. [online] Academia.edu. Available at: https://www.academia.edu/21450933/Consumer_behavior_on_Mercedes-Benz [Accessed 3 Dec. Available at: 2016]. Anon, (2003). Strategic evaluation and control. [online] http://web.idv.nkmu.edu.tw/~hgyang/Module9.pdf [Accessed 3 Dec. 2016]. Anon, (2016). OMAN Automotive Market Report 2016. [online] Available at: http://www.motorshow-oman.com/downloads/2016/Satyam/Oman-Automotive-Market-Report.pdf [Accessed 3 Dec. 2016]. Beard, R. (2013). Increase Customer Satisfaction (9 Strategies). [online] Client Heartbeat Blog. Available at: http://blog.clientheartbeat.com/increase-customer-satisfaction/ [Accessed 3 Dec. 2016].: Focus2Move. (2015). Oman Archives | Focus2Move. [online] Available at: http://focus2move.com/product-category/autodata/oman/ [Accessed 3 Dec. 2016]. Kilter, P. and Armstrong, G. (2012). Principles of marketing. 1st ed. Boston: Pearson Prentice Hall. Magazine, B. (2016). Outdoor Possiblities. [online] Business Today Oman. Available at: http://www.businesstoday.co.om/AD-SPEND/AD-Spend-Survey-2008/Outdoor-Possiblities [Accessed 3 Dec. 2016]. Mercedesbenzme.com. (2016). View All Vehicles | Mercedes-Benz Oman. [online] Available at: http://mercedesbenzme.com/oman/en/footer/why-mercedes-benz/view-all-vehicles/?body=21046 [Accessed 3 Dec. 2016].: Motc.gov.om. (2016). Ministry of Transport and Communications. [online] Available at:http://www.motc.gov.om/DefaultEn.aspx?SectorID=lJHlc66Pfg47VVok1eTw%2fw%3d%3d [Accessed 3 Dec. 2016]. Omzest.com. (2015). Zawawi Trading Company LLC | Omzest. [online] Available at: http://www.omzest.com/companies/zawawi-trading-company-llc.html [Accessed 3 Dec. 2016]. Onoya, k. (2013). MARKETING EVALUATION AND CONTROL. [online] prezi.com. Available at: https://prezi.com/hfqz2ogzrhef/marketing-evaluation-and-control/ [Accessed 3 Dec. 2016]. Perreault, W., Cannon, J. and McCarthy, E. (2009). Basic marketing. 1st ed. Boston: McGraw-Hill Irwin. Solomon, M. (2007). Consumer behavior. 1st ed. Upper Saddle River, N.J.: Pearson Prentice Hall Tsetsonis, A. (2015). UAE’s automotive sector overview. [online] (http://www.emiratesnbd.com/plugins/ResearchDocsManagement/Documents/Resear 12 Available at: ch/Emirates%20NBD%20Research%20UAE's%20Automotive%20Sector%20Overview %204%20February%202015.pdf ) 13 pdf page 2 [Accessed 3 Dec. 2016]. SHR037-6: Marketing Management Assessment 2 Task Case Study: Toyota in Oman The Marketing task: Over the years, the Toyota brand has been managed by the Saud Bahwan Group(SBG) in Oman, who continue to build on the brand by ensuring that it does not only excel in product excellence, but also in customer satisfaction. Toyota is now considered to be one of the most trusted brands in Oman. In keeping with its brand promise of ‘exceeding customer expectations’, Toyota has recently introduced an ‘innovative and class-leading Hybrid sedan’, the Toyota Prius, spearheading a new era in hybrid technology across the Middle East. As a Marketing Consultant, you have been approached by the CEO of the Saud Bahwan Group (SBG) to develop a Marketing Plan for the Toyota Prius Brand which will enable the company to achieve even better customer satisfaction over the next three years. Case Study: Toyota in Oman About SBG Saud Bahwan Group : Touching People's Lives Over the years, Saud Bahwan Group has got even closer to its customers…with activities so diversified & deep reaching that they touch almost the entire population of Oman. Saud Bahwan Group's nationwide presence even in the remotest locations of Oman ensures that the Group's activities continue to make a positive difference, in Automotive & Allied business, Heavy Vehicles, Construction Equipment, Turnkey Projects, Special Equipment, Municipal & Civic Services, Property & Real Estate and Travel & Tourism. These are supported by massive investments made to ensure the highest standards of excellence in all activities. A network of branches across the nation with more on the way – fulfilling the Chairman's vision of providing a facility within a 30 km. radius of the customer, anywhere in Oman. Round the clock, round the year service facilities spread across Oman offer customers a service unique to the entire Gulf. High parts availability is ensured through a network of 62 outlets and over 300 dealers. And satellite links with overseas principals. Providing SBG with a strong technological edge is a dedicated computer centre – the largest in the private sector in Oman. The centre provides sound, customer – centric business solutions using a state of the art IT infrastructure. Over the years, the Group has developed many mission critical systems that provide vital information for managing many business operations, effectively. However, sophisticated technology requires equally talented manpower to exploit its full potential. That's why SBG holds in high regard its talented team of professionals who continue to set new standards in various functional area. The Group is totally committed to national priorities and continues to play a major role in developing a large base of local talent through extensive training of Omanis. Always on the lookout for new challenges and opportunities, the Group continues to confidently foray into new fields – in new sectors of the economy. However, even more important than the objective of growth in turnover it that of raising customer care to greater heights. A special Customer Care Cell headed directly by the Chairman ensures that as the organisation grows, it gets even closer to the Customer. A special Customer Care Cell headed directly by the Chairman ensures that as the organisation grows, it gets even closer to the customer. In pushing outward the boundaries of excellence, the goal has always been "Customer Satisfaction No. 1". Toyota in Oman Toyota: Spreading Smiles of Satisfaction 'Bring Home Joy … Bring Home A Toyota' is a line deeply etched in the hearts and minds of customers in Oman. It reflects the customer delight associated with Toyota - a brand that has not merely lived up to its promise, but has elevated customer satisfaction to a new high. Indeed, Toyota is one of the most trusted brands in Oman. Its popularity has been growing over the years is not only due to the product's excellence but also to the 'customer firsts' in marketing and after sales support pioneered by the Saud Bahwan Group. SBG's initiatives & investments have included painstakingly building a world class Sales, Parts and Service infrastructure. Enormous, yet easily accessible, it provides a full-fledged Toyota facility within a 50 Kms radius of every customer - anywhere in Oman. In Muscat, the Toyota Service Centre is one of the world's largest state-of-the-art facilities, equipped with 745 stalls.SBG is proud to extend expert 'service with a smile' to customers – round the clock, round the year. The state of the art Mega Body Shop at Ghala is amassive operation employing sophisticated assembly line repair systems offering prompt service to customers with minimum waiting time. Also located in Muscat, the Toyota Warehousing facility spread over 62,5000 Sq. m., stocks over 150,000 line items and distributes them across a nation of 309,500 Sq. Km. - ensuring delivery within hours, anywhere in Oman. These massive investments, coupled with SBG's dynamic marketing initiatives provide Toyota the leading edge. Strategic, timely promotions that are periodically deployed, sharpen and surpass customer expectations. Innovative schemes, exclusive customer meets, motor shows and caravan road shows further fuel customer enthusiasm – to enhance the 'total Toyota experience'. While thousands of individual owners of Toyota are almost unanimous in their reason for having bought it, the brand has also become a favourite with large and small institutional buyers. Many of them have totally standardised their fleet with Toyota. SBG's ingenious and innovative efforts to make Toyota synonymous with automobiles in Oman have been recognised and rewarded by innumerable awards from Toyota Motor Corporation. Including the 'Best Management' award – a first amongst 175 Toyota distributors across the world. The Group has also been consistently ranked amongst the world's top 5 distributors by Toyota Motor Corporation… These tributes to SBG's spirit of excellence spur the group to reach ever higher … achieve ever greater levels of customer satisfaction. Toyota's Brand Promise Toyota, a globally local brand, promises the customers of its two unfailing traits which also form the two pillars on which its brand promise is built –'Peace of Mind' and 'Waku Doki'. Toyota,a brand that is synonymous with QDR (Quality, Durability& Reliability) and has a strong focus on safety, keeps your mind at peace on one hand and on the other gets your heart racing with range of exciting cars and thereby creating a sense of 'Waku Doki', a Japanese word which means –intense adrenaline rush. With every action Toyota aims at exceeding expectations of the customers, thereby ensuring their smiles… which elicit pure joy & our success. The brand promise is built on the foundation of beliefs close to the heart of the company and the customer. SUPERIOR PEACE OF MIND: Quality Durability Reliability Uncompromising and advanced levels of Quality, Durability & Reliability (QDR) are in the DNA of Toyota. From the early stages of the design process up until our cars roll off the assembly line, QDR is infused at every stage. Toyota spends $ 1 million per hour on R&D, globally. Every Toyota thus is made with an aim to make a failure-proof car. Generations of long standing trust in Toyota are testimony to this fact. Safety For us, the journey towards a safe road never ends. This belief, along with our collaborative research efforts, drives us to create advancements and innovations in safety that have helped (and continue to help) prevent crashes and protect people. Sparing neither effort nor expense to ensure highest standards of safety, Toyota crashes nearly 1600 actual, fully-built cars in controlled collision tests each year. Value For Money Toyota builds vehicle that offer a rewarding ownership experience. Rewarding to own, to run and to resell - even after many years down the road. Toyota owners get more than an automobile – they get great value. Truly, Toyota believes in delivering far above expectations. It, therefore comes as no surprise that 80% of Toyotas sold 20 years ago are still on road today… Environmental Leadership Toyota remains at the forefront of effort to build cleaner, greener cars that are gentle on the environment. Building cleaner vehicles isn't the only way Toyota works to help the environment. Toyota applies its passion for Environmental Leadership and applies it towards building better communities for the future. Hybrids are a step towards this ideology and Toyota saved 500 million gallons of gasoline annually through its innovative Hybrid models WAKU-DOKI: Fun to Drive We at Toyota believe cars are not just meant for commuting. Cars are meant to make life full of exciting journeys. We make cars that can set your heart racing, giving you an adrenaline rush which lasts with you even after you have reached your destination. A cautionary word, don't get carried away…drive safe! Stylish While Toyota Cars are renowned for their QDR across the globe, what makes it even more appealing is the sense of style that every Toyota Car exudes. We make cars so stylish that they turn heads wherever you go. It puts you in spotlight, elevating your personality to an all new high. Go Flaunt! Youthful Youth is an untamed spirit, a bold,positive & radiant energy that is the driving spirit of Toyota. Breaking new grounds, creating paths where none ever existed. Youth is a trailblazer, adreamer. Be Young. Feel young. Drive a Toyota…drive your passion. Innovation Kaizen is a way of life at Toyota. We strive for improvement at each step. We strongly believe no matter how well things can be done, there is always a better way. At Toyota, it is always an endeavour to be at the forefront of automotive innovation, thus enriching lives around the world and aiming to build a future society, full of smiles News & PR Own a Toyota Prius with Exciting Benefits Toyota’s innovative and class-leading Hybrid sedan, the Toyota Prius is a favourite among those who love to enjoy more out of every journey.Whilst maintaining a cordial relationship with the environment. Toyota Prius stands out as a global hybrid icon. Every detail has been optimised to make it both advanced and efficient. Its cutting-edge lightweight materials, combined with its proven hybrid technology, all work harmoniously to enhance performance while maximizing and redefining efficiency. Customers on the lookout for a new car that is also impressive in terms of fuel economy can experience the Toyota Prius by visiting any Toyota showroom. The Prius is now available with Cash Gift of RO 1500 and 1 Year Comprehensive Insurance (Oman only),” (Terms & Conditions apply. Visit a Toyota showroom to know the exact details.) The Toyota Prius is by far the world’s most successful hybrid that has been spearheading a new era in hybrid technology across the Middle East. The fourth-generation Prius not only brings ground-breaking technology & performance to the fore but also encompasses a funto-drive-spirit that promises to appeal to driving enthusiasts. Creating a significant impact in terms of sustainable mobility, the Prius stands apart with a striking design that complements its refined interiors. It delivers superb driving dynamics with remarkable engine performance & fuel economy. Its advanced safety technologies signify comprehensive protection for passengers. The world’s first mass-produced hybrid vehicle, the Prius fulfils a demand for vehicles with exceptional fuel efficiency. Successive generations of the Prius have highlighted Toyota’s commitment to environmentally conscientious forward thinkingand led the company’s drive towards the creation of the ultimate eco-car. The Prius is a triumph of technology and boasts significant advances in every area, with a clever, class-leading aerodynamic design that allows it to offer excellent fuel and emissions efficiency without sacrificing either cabin space, driving ease or comfort. It is a symbol of Toyota’s innovative nature and inherits Toyota's legendary QDR (Quality, Durability and Reliability). Combining improved aerodynamics, excellent handling and comprehensive safety features with an elegant interior designed to pamper its occupants, the Prius represents another step forward for Toyota’s renowned hybrid technology. The Prius is a superior hybrid and eminently versatile. Unlike most of the other hybrids, the Prius can be driven completely on electrical power or with a combination of electric motor and gasoline engine depending on the driving behaviour. Based on the advanced Toyota New Global Architecture (TNGA) – an innovative, integrated development program for powertrain components and vehicle platforms – the all new Prius takes the hybrid driving experience to another level, thanks to a lower centre of gravity, increased body rigidity and improved suspension. The Prius design is based on Toyota's Iconic Human-tech design philosophy of fusing emotional and rational vehicle factors. The exterior of the Prius hints at the car's advanced functions while also expressing its fun-to-drive spirit, creating an instant and lasting impression. The Prius has advanced full-colour, dual 4.2-inch TFT displays with a full-colour meter that has high brightness, contrast and precision. The colour Head-Up Display (HUD) projects a range of important information – from driver alerts to navigation, speed and an energy meter – on to the windscreen in the driver’s line of sight. The audio system harmonises the ride, with 10 JBL speakers placed optimally throughout the cabin. The Prius also has a convenient wireless charging system, which allows users to simply place a ‘Qi’ - enabled device on the pad to initiate charging. A 1.8-litre, 4-cylinder VVTi Atkinson cycle petrol engine has been completely re-engineered in the Prius, with remarkable results in terms of performance and fuel economy. The body torsional rigidity on the Prius has been increased by approximately 60% compared to the previous model. The Prius sets high standards for safety with an impressive array of active and passive features. These include 7 airbags to protect the driver and passengers, active front head restraints and HUD. There are also 3-point front and rear seatbelts with ELR (Emergency Locking Retractor), pretensioners and force limiters. The Electronically Controlled Brake System employs a newly developed Active Hydraulic Booster. It also incorporates active safety features such as the Anti-lock Braking System (ABS), Vehicle Stability Control (VSC) and Traction Control (TRC). It also boasts advanced features such as Regenerative Braking (A system that charges the battery when brakes are applied and during deceleration), Lane Change Assist with Blind Spot Monitor (Developed to warn the driver if there is a vehicle on either side while changing the lane). The Rear Cross Traffic Alert (Helps the driver when backing out from a parking space by detecting vehicles approaching from the right or left, on the rear of the vehicle) Specifications of vehicle imported from Toyota Motor Corporation are as per the GSO Conformity Certificate applicable to the model/grade. Parameters such as vehicle weight, dimensions & fuel economy could vary from the GSO Conformity Certificate due to fitment of dealer installed non-Toyota accessories. Pictures and colours shown may differ from actual specifications. In Oman, the nationwide parts and service network of Saud Bahwan Automotive support Toyota’s outstanding product quality. No wonder that today, Toyota is one of the most trusted and well-known brands. (Source: toyotaoman.com) Assessment 2 Information Sheet To be supplied to students when they receive the coursework assignment task Unit Co-ordinator: Dr Rosemary Burnley Unit Name: Marketing Management Unit Code: SHR037-6 Title of Coursework: Individual Marketing Plan Report % weighting of final unit grade: 60% Assignment Brief Submission instructions Assignment should be submitted on the designated date by 12 noon Oman time (8.59am UK time). Pages should be numbered. Headings and sub-headings must be provided. All areas of the plan must be considered. Your full name, ID, the unit title and code number must be clearly marked on the assignment top sheet. Coursework must be submitted on BREO by the date and time specified. Late work is not accepted, and will be deemed a fail and graded G (0) (no work submitted). Learning Outcomes The completion of this assignment requires you to demonstrate the ability to: • Identify and critically evaluate environmental factors that can affect organisational success. Categorise and analyse the environmental factors at play and consider their impact on the Organisation under consideration. • Undertake a marketing audit of an organisation. Identify and critically assess in a comprehensive fashion the current strengths and weaknesses of the organisation relative to its external environment. 1 • Apply consistently in-depth knowledge and reference relevant marketing management theories/concepts. Generate a variety of ways of tackling a selected problem and identify options that have a chance of success in the organisation under consideration. • Identify quantitative and qualitative “information gaps”, and the relevant sources needed to fill such lacunae. Prepare and use IT to aid efficient searching, evaluation and selection of information, exploring alternative lines of enquiry where appropriate. Present information effectively, including evidence to support your conclusions. • Identify and critically assess in a comprehensive fashion the current marketing strategies employed by the organisation in its market. Evaluate and synthesise information from different sources, theories and principles, and communicate relevant information effectively, and with accuracy. Put forward relevant and robust strategic recommendations for the organisation. • Critically analyse the effectiveness of your strategy, including factors that had an impact on the outcomes, and identify ways to take the firm/organisation forward, and ways of further developing problem solving skills Format for submission The word limit is 2,500 words excluding cover page, references in the bibliography and the appendices. Your cover page must have your full name and ID number. All work should be word processed using either Times New Roman or Ariel font, with line spacing of 1½ and justified. References must include academic sources. No more than 50% of references may be from the internet. Assignment Detail Assessment 2: Individual Marketing Plan Report Marketing Plan for Toyota Prius (Oman) The Marketing Plan Task: Over the years, the Toyota brand has been managed by the Saud Bahwan Group(SBG) in Oman, who continue to build on the brand by ensuring that it does not only excel in product excellence, but also in customer satisfaction. Toyota is now considered to be one of the most trusted brands in Oman. In keeping with its brand promise of ‘exceeding customer expectations’, Toyota has introduced an innovative and class-leading Hybrid sedan, the Toyota Prius, spearheading a new era in hybrid technology across the Middle East. As a Marketing Consultant, you have been approached by the CEO of the Saud Bahwan Group (SBG) to develop a Marketing Plan for the Toyota Prius Brand which will enable the company to achieve even better customer satisfaction over the next three years. To help with the development of your Marketing Plan Task, you have been provided with a case study generated from recent articles on Toyota in Oman. 2 Your Marketing Plan must include the following: • • • • • • • • Executive Summary Introduction and objectives – Your introduction should include relevant background information on Toyota in Oman Current market and company situational analysis, including the competition (apply Porter’s Five Forces model), consumer behaviour, SWOT and/or PEST analyses. Market Segmentation- this should emanate from your market situational analysis. You must identify current and possibly new market segments for Toyota Prius Marketing Plan Objectives – must be specific and realistic. Apply the SMART Rule. Marketing mix strategy recommendations- Note that you will need to recommend your marketing mix strategy for Toyota Prius. Your recommendations should stem from the market and company situational analysis. Your strategy recommendations must be relevant to the segments identified in your market situational analysis. You are also expected to use relevant strategic marketing planning tools to inform your recommendations. Evaluation and Control – how would the plan be monitored? What tools would you employ? Consider the Key Performance Indicators (KPIs). Budget- provide a costing for each of your marketing mix strategy. I do not expect you to come up with specific figures, but your costing should be based on research. Additional Guidance on the Marketing Plan Report 1. Objectives – objectives need to be SMART but it is unnecessary to explain in detail how smart they are. 2. The balance between market analysis and the actual planning/actions– ensure that your submissions are balanced with regards to analysis and planning. For example, do not use a lot of space summarising the analysis, at the expense of setting objectives and planning objectivespecific marketing strategies and tactics. 3. Vagueness – planning needs to be very specific; stating that you will use ‘social media’ for promotion because it is the ‘most efficient tool’ is not enough. You need to explain the social media tool (s) – what they are, why you are using them and how you would use them. 4. Academic content – you are expected to apply models, and not just describe or define them. For example, your SWOT or PEST analyses should not read like textbooks in which you explain what SWOT or PEST are – this is essentially incorrect. You need to apply them and not describe them. 5. Executive summary – an executive summary should be written in a way that allows the executive who reads it to know what the problem is and how it is to be solved. Essentially, it is a summary of your problem statement, objectives and how to achieve them (i.e. how to solve the problem). 6. Secondary data use – Analysis should be supported with secondary data (from the literature). You should demonstrate wider reading and acknowledge the sources of your information, both in the main body and in your bibliography. Avoid making very bold but not substantiated statements, such as ‘the only motor car company’ in Oman’ or ‘massive campaign’ or ‘massive customer segment’. Give numbers if you think the segment is large and compare it to other segments to give an idea of the size of it. Worth noting that your product offerings must relate to your chosen segments. 7. Presentation and structure – to achieve an excellent grade, your presentation needs to be immaculate – this includes numbering tables, referencing correctly etc. Do not present a lot of data and information in tables as appendices. Data or statistics that refer directly to your discussion in the main body, should be presented in the main body. Tables and figures – tables and figures need to be numbered and each should have a title that is self-explanatory. Your analytical content must be high, demonstrating critical thinking and the ability to apply relevant marketing concepts (refer to the marking criteria). 3 8. Word limit – 2,500 words. This will exclude your references in the bibliography, the appendices, and the cover page. Please, note that your cover page must have your Full Name and ID Number. New Assessment Regulations In response to student feedback the University has revised the regulations that govern how your work is assessed, by introducing the use of a percentage scale to replace the previous letter grades. More information for students is available on BREO, in the “Assessments Information for students” community. The full regulations are available at: http://www.beds.ac.uk/aboutus/quality/regulations The table below shows the percentage points to which grades are mapped. Grade A+ A AB+ B BC+ C CD+ D DE F FG Percentage Points 80 - 100 75 -79 70 -74 67 - 69 64 - 66 60 - 63 57 - 59 54 - 56 50 - 53 47 - 49 44 - 46 40 - 43 35 - 39 25 - 34 1 - 24 0 Marking Criteria for the Marketing Plan Report To obtain an A grade you must: • • • • Demonstrate a thorough understanding of the task for the Marketing Plan Display knowledge of the concepts/theories involved and an ability to apply them effectively. Provide evidence of further reading, including academic journals. Demonstrate the ability to select critical aspects of the plan, evaluate them and communicate the conclusions and strategic recommendations effectively 4 To obtain a B grade: • Show a clear understanding of the tasks for the Marketing Plan • Display knowledge of most of the concepts/ theories involved and an ability to apply them effectively. • Provide evidence of wider reading. • Demonstrate the ability to select critical aspects of the plan, evaluate them and draw sound conclusions and strategic recommendations. To obtain a C grade: • Show an adequate understanding of the tasks for the Marketing Plan • Display knowledge of some of the concepts/ theories involved and an ability to apply them. • Provide evidence of some wider reading. • Demonstrate the ability to select key aspects of the plan and provide analysis of these. To obtain a D grade: • Show some understanding of the tasks for the Marketing Plan • Display knowledge of some of the concepts/ theories involved and an ability to apply them. • Provide evidence of some wider reading. • Demonstrate the ability to select key aspects of the plan and provide analysis of these. To obtain an E grade: • Made an attempt to complete the tasks of the Marketing plan • Display little knowledge of the concepts/ theories involved. • No evidence of academic reading. • An inability to recognise the key aspects of the plan. To obtain an F1/F2 grade: • Work of little academic merit. To obtain a G grade: • Work of no academic merit. • No attempt. 5
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Explanation & Answer

Attached.

Marketing Plan for Toyota Prius (Oman)

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1

Executive Summary
Toyota Prius is a product of Toyota Company, which is the most recent brand. The new

brand is environmentally friendly as it has low emissions of carbon dioxide. It is a product that
has gained a lot of popularity in Oman under the management of the Saud Bahwan group. This
paper aims to develop a marketing plan that will help in increasing the customer satisfaction of
the product. A SWOT analysis, consumer behavior, the market segmentation as well as the
marketing mix of the product will are carried out in this paper.

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Contents
1

Executive Summary ................................................................................................................. 2

2

Introduction- Toyota in Oman ................................................................................................. 5

3

Current Market and Company Situational Analysis ................................................................ 5

4

3.1

Competitors ...................................................................................................................... 5

3.2

Porter’s Five Forces Model .............................................................................................. 6

3.3

Consumer Behavior .......................................................................................................... 7

3.4

SWOT Analysis................................................................................................................ 7

Market Segmentation ............................................................................................................... 8
4.1

Demographics................................................................................................................... 9

4.2

Psychographic .................................................................................................................. 9

4.3

Geographic ....................................................................................................................... 9

5

Marketing Plan Objectives ...................................................................................................... 9

6

MARKETING MIX STRATEGY RECOMMENDATIONS ............................................... 10

7

3

6.1

Pricing Strategies............................................................................................................ 10

6.2

Product Strategies........................................................................................................... 10

6.3

Placement Strategies ...................................................................................................... 10

6.4

Promotional Strategies ................................................................................................... 11

6.5

Recommendations: ......................................................................................................... 11

Evaluation and Control .......................................................................................................... 11
7.1

Annual Sales Analysis.................................................................................................... 11

7.2

Profitability Control ....................................................................................................... 12

7.3

Efficiency control ........................................................................................................... 12

7.4

Strategic Control ............................................................................................................ 12

8

Budget .................................................................................................................................... 12

9

References.............................................................................................................................. 13

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Introduction- Toyota in Oman
In Oman, Toyota is a vehicle brand that is highly trusted due to its satisfaction to its

customers. The popularity of this brand in Oman has been growing all through since its
introduction due to its excellent products, customers’ satisfaction as well as the support that is
given after sale b...


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