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Marketing research plan for an international rental car company
Featuring prominently in this plan should be the knowledge of the customer base. This helps in knowing the customers that have to be retained, the services they value, and the incentives they ought to be given that would help motivate them. For this company to learn and know its customers, it has to interview customers about their level of satisfaction. A feedback mechanism has to be initiated.
The car rental company has to invest in market research where customers are asked to give their views on services that they are offered. The company must ensure that their customers are made aware of the good services they offer by creating a profile of customers they have to win and keep. The business should be looked at in a customer perspective.
Issues touching on communication to the customers should be perfected. Problems that arise should be used as an opportunity for showcasing the services the company offers. Customers must always be shown that they are very special and they ought to be kept informed about the services that are offered.
The company should make it a practice to retain its customers. Loyalty and retention can be promoted either by frequency or loyalty marketing. In frequency marketing the company can seek permission from their customers to market to them overtime and return make them feel appreciated for their loyalty.
An incentive would be given to customers to make the company track their purchases (Performance Improvement Council, n.d.). Finally, it is important that this company does budgeting and measurement in order to determine return on investment.
Watch and clock manufacturer
A clock and watch manufacturer who realizes that he is operating in the market for machines that measure time who has a desire to segment the market should embark on identifying the customer’s needs within the segments. The manufacturer should also profile the resulting market segments. The segments that have been put in place should be identifiable.
The attributes of the segments that kind of differ should be measurable to enable for ease of identification. The segments should also be accessible in terms of communication and also through the channels that are used in distribution. The segments have to be sizeable not very large yet not very small. They ought to be sufficiently large to be economically viable.
The segments must accrue profit for it would be worthless for them to be in place if they are not profitable. The segments also need to respond to unique needs of the different market mixes in their area of operation. When market segments are initiated it is pertinent that the cost of frequent changes is brought into perspective hence the need for their durability.
For purposes of ascertaining the potential of these segments in terms of how they would impact specific market mix it is important for this watch and clock manufacturing company to come up with a market segment whose potential can be measured.
It is also crucial for this manufacturing company to factor in resources that they have and their capabilities before coming up a market segment. This underscores the importance of compatibility.
Maserati’s positioning strategy
The positioning strategy for North American Company that has just introduced Maserati, the latest model of a sports car that would be competing with other established brands like Porsche, Ferrari, Jaguar, and the BMW Z8 would include identifying the market segment that Maserati would appeal to. Maserati would hope to appeal to sports car enthusiasts in basically their entire market niche.
The major challenge would of course be those people who practically adore a specific brand and would not give a second thought to that. Credence will be given to sports car lovers who would want some unique features to be part of the package that Maserati comes with that other sports cars do not have. This category may have the first time buyers or those who have hard experience with other brands.
Positioning strategy would also integrate the engine capacity of Maserati in comparison to other sports cars. The question here would be ‘I Maserati powerful enough? People who would want to be unique must be cared for in Maserati positioning strategy as there are people, especially the young generation who hates hanging out in things that everybody else has.
These people look for personality (FIAT, 2007). To actualize the positioning strategy that Maserati manufacturers have put into place, there is need for coming up with a working marketing mix to reinforce its advantages over other sports car brands. The new Maserati core values and positioning ought to be carefully reflected upon.
There is need for careful crafting of Maserati’s positioning statement that would convey its advantages over other brands to attract potential buyers in its target market.
Secondly, the manufactures of Maserati should contemplate taking the brand to the customer by first engaging in pre-publicity. Price that is set should reflect the company’s positioning strategy. Finally, intensive promotion like pre-publicity, test-driving, and holding open weekends should be initiated.
Role of the consumer in terms of the freedom of choice
Consumers know what to consume and what not to consume or shy away from as witnessed among the money and brainers cluster (Twitchell, 2002). This is actually the basis of culture occasioned by liberal arts education.
The views expressed in the article are not consistent with traditional marketing idea that emphasizes personal decision because the article talks of people consuming certain commodities to conform with the popular culture and not because they have made a personal decision to purchase them. Buying certain commodities would make you to be associated with a specific group of people.
Reference List
FIAT. (2007). Managing the Marketing Mix for the launch of new Fiat Panda. The Irish Times Business 7th Edition. Web.
Performance Improvement Council (n.d). Customer Retention: Keeping Your Best Customers for the Long Term. Executive white Paper.
Twitchell, J.B. (2002). Needing the Unnecessary: The democratization of luxury. Reason; Vol. 34 No. 4.
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