You are a marketing consultant and Mercedes Benz has just hired you to help them introduce their Smart Car in the US market in Sticking with our theme of how the elements of the marketing mix work together, build a marketing strategy for the launch of the vehicle.
Brand recognition Mercedes is a globally renowned brand of premium vehicles. Once it was known mainly for its luxury sedans. However, now it is better known for its sporty car models and SUVs. A large range of popular products Mercedes makes a large range of vehicles that are immensely popular.
Since its launch init has delivered more than 9 million units. SUVs from Mercedes have also gained popularity and sold more than units. Sales of V class and E class also went up last year. Its smart cars have also kept growing in popularity and sold more thanunits in Financial performance InMercedes has seen growth in the double digits.
Overall, it sold more than 2 million vehicles. Inits revenue was at Overall, Mercedes is seeing a lot of financial success and growth during the recent years.
China, on the other hand remained the biggest individual market for Mercedes Benz last year. Expanding presence in the electrical vehicle segment with the new EQ brand Mercedes Benz is planning to unveil its new EQ brand for electrical mobility. EQ means electrical intelligence. Its is planning to launch its first series produced EQ model before the end of the current decade.
EQ cars will have a range of up to Kms and will come loaded with all the safety, connectivity, comfort and functionality that are the hallmark of Mercedes Benz. Local production facilities worldwide Mercedes Benz has a global production network that is spread over 4 continents.
Apart from it, maintenance of Mercedes cars is also a costly affair. If the economic conditions are good, its sales remain high, otherwise they take a nosedive. Most of these cars are in US. Such recalls hurt the brand image and lead to negative publicity. The demand for SUVs is also expected to be high in China.
Rising demand of premium vehicles and SUVs Since the end of the recession, the demand for premium vehicles has kept rising. Not just in the developed nations, in the developing nations as well their demand has increased over these years.
The millenials seem to be in love with the SUVs. Growth of the automobile industry The automobile industry has kept growing over the past several years. Apart from the Asian markets, the US Market too has seen growing demand caused by several factors like cheaper gas prices and easy credit options.
These trends are going to sustain and particularly the demand for crossovers and SUVs is expected to remain high. Environmental laws have become stiffer in most countries and more and more vehicle makers are aiming to introduce smarter electrical vehicles. This is a potential area of opportunities for Mercedes also which it is trying to fill by introducing EQ.
Intense competition Competition in premium vehicle segment has kept growing intense over these years. Mercedes is also facing intense competition from BMW and Audi and other premium brands in the global market.
Particularly, in the Asian and US markets the competition is highly intense. Non compliance for any brand can be very costly in most cases as fines are generally quite big.
Stiffer fuel emission laws Several nations have already implemented stricter laws to reduce emissions and fuel consumption or are in the process of doing so.
Non compliance in these areas may result in severe penalties, reputational harm or even restriction on sales in the relevant markets. Currency volatility and other economic risks Currency volatility and other economic factors also present major risks before the automobile industry.Ford Motor Company business overview from the company’s financial report: “With about , employees worldwide, the Company designs, manufactures, markets, and services a full line of Ford cars, trucks, and SUVs, as well as Lincoln luxury vehicles.
In the case of Mercedes Benz products, the price range spans from $30,, which is the cheapest model of the Mercedes Benz A Class, to the most expensive model of the Mercedes Benz SLS AMG, which is $, SWOT analysis helps to determine Mercedes-Benz's position in the market, with the use of the macro and micro climate.
This article will analyse the company and search for strengths and weaknesses. Transcript of PEST ANALYSIS. MERCEDES-BENZ Mercedes-Benz has invented electric cars and small cars for reduced spaces such as the smart "fortwo".
Mercedes-Benz was founded in by Gottlieb Daimler and Karl-Benz regarded as the first inventor of the automobile.
Acetic Acid Market size was over USD billion in and is estimated to witness a growth of % to led by electronics, automotive, textiles, and packaging industry. The business outlook at Tesla Motors, Inc.
is lausannecongress2018.com the electric vehicle manufacturer has reported operating losses in every year since its IPO, the .