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Marketing

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by

annie cormack

on 30 October 2013

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Transcript of Marketing

Ferrari
Cars
Product offering:
Product is defined as a good, service or idea offered for to the market for exchange (Elliot, Rundle-Thiele, Waller 2012). Products differentiate from one another due to differing attributes that distinguish one product from another, this is also known as product differentiation (Elliot, Rundle-Thiele, Waller 2012). Organisations can differentiate their products, through design, brand image, style, quality and features to obtain a competitive advantage. In the car market, products rely on product differentiation to make their products unique and stand out to potential consumers.
Total product concept:
Core product. Expected product. Augmented product. Potential product.

Toyota is a leading car brand worldwide (Toyota, 2013). It is manufactured out of Japan but is sold globally. Toyota Australia is a leading manufacturer, distributor and exporter of vehicles, with a market share of 18 percent. (Toyota, 2013). The Toyota Corolla Ascent was introduced in 1966 and by 1974 had become the world best selling single car (Matt, 1975)
Ferrari is the niche brand of the three investigated; it has a smaller percentage market share and is perceived as an elite brand in a luxury market.
The Holden Barina CDX is one of Holden’s most popular small cars. Holden is one of the two established brands discussed throughout the report. It was first launched at the start of 2013, and it is said, “no other light car currently offers a seven-inch touchscreen standard.” (Car Advice, 2013)
Total product concept
The core product:
The expected product:
The augmented product:
The potential product:
The product life cycle:
Branding:
Brand Quality
Brand Awareness:
Loyalty:
Branding is based on the concept of gaining a competitive advantage and greater market share by differentiating the products and services of organisations within the market.

Involves: Image, equity, and loyalty. Under equity comes; brand awareness, brand quality, and brand association.
Toyota: Scored 4.5/5
Holden: Scored 3.5/5
Ferrari: Scored 5/5


Positioning:
Holden:
Toyota:
Ferrari:
Markets Segments and subgroups.

- Geographic
- Demographics
- Behavioral
- Psychographic

Selection of the target market

Positioning; product attributes, benefits offered, product class, usage occasions, types of users, against a competitor and away from competitors

Communication:
Holden:
Toyota:
Ferrari:
Consumer behaviour:
Consumer behaviour refers to the analysis of the behaviour of individuals and households who buy goods and services for personal consumption
Holden:
Toyota:
Ferrari:
Our
Recommendations
Ferrari:
Survey:


Toyota: 100% of the participants recognized both brands name and logo
Holden: 100% of participants could recognise name 95% logo
Ferrari: 70% of participants recognized brand name yet only 60% recognized the logo.


Ferrari: Ranked Highest with customer loyalty.
Toyota: Ranked second with customer loyalty.
Holden: Ranked third with customer loyalty.



Brand Association

Product attributes, types of users and benefits offered.



Features
Benefits offered and the product attributes.
Features
Maturity stage
- Introduced in 1966
-Slight annual decline in cars sold
-2010 - 266,082 cars sold
-2011- 240,259 cars sold
-2012- 221,386 cars sold



Toyota Corolla Ascent
Holden Barina CDX:
Maturity stage
-Competitors entering the market with similar products in the car industry
-Only been in the market since January 2013

Ferrari:
Growth stage
-8% revenue increase at the end of the 2012 financial year
-4.5% increase in sales
-Moving towards the maturity stage
-Company is close to 100 years old
1. Need/Want recognition, Advertisers create awareness through TV commercials; ‘Can a Holden Barina save your relationship? and ‘Your mid-size escape’
2. Information Search: easily attained information = Website,
3. Evaluation: Consumer need to stay focus on the brand; test drives, special offers
4. Purchasing Stage:
5. Post-purchase evaluation: evaluate happiness, follow up calls, suverys
What activity do you need from the product?
-Similar for the Toyota Corolla Ascent, Holden Barina CDX and California Ferrari, as they provide same satisfaction to the customer
-The core product: Benefit of transportation

Holden Barina: High safety rating, anti-lock braking system, traction control, electronic stability control, brake assistance. Produces self confidence and creates maximum enjoyment

Toyota corolla: Anti-lock brakes, high safety rating, bold, sporty, spacious, cruise control, Bluetooth functionality

Ferrari: High level performance
Holden Barina CDX: Smart phone capabilities (Bluetooth, USB connectivity). And most importantly its infotainment system, Holden MyLink.

Toyota: ‘Bolder, sportier, more spacious, entertaining car that has features such as air con, cruise control, LCD multi-functional display, Bluetooth functionality, USB connection.’ (Toyota, 2013)

Ferrari: Warranties and customer service support, Bluetooth, wireless hands free and AUX sockets
'The bigger next level gains you can get from the product. Differentiates the cars'
Holden Barina: 'Pandora' application will soon be launched, which streams online music using Bluetooth connectivity. Playlists can also be automatically created based on the customers taste.

Toyota corolla: Low running and maintenance costs, 3 year warranty, range of finance options

Ferrari: Alterting and reproducing older models
1. Need/Want recognition, Advertisers create awareness through TV commercials; "Feels Good Inside" and "Style never goes out of style"
2. Information Search: easily attained information = Website,
3. Evaluation: Consumer need to stay focus on the brand; test drives, special offers
4. Purchasing Stage:
5. Post-purchase evaluation: evaluate happiness, follow up calls, suverys
Marketing Communication has helped develop brand awareness in the marketing world, allowing the consumer to translate product information into perceptions about the products features and its position in the larger market. Due to influences on consumer behavior, reliable feedback is not always available which is were the hierarchy model helps. To over come these barriers, the hierarchy model measures advertising effectiveness and analyzes the message impact on the consumer through 3 key stages; cognitive, affective and conative.
Cognitive Stage
Affective (feeling) Stage
Conative (behavioral) Stage
Ferrari
Additional market focus on women, particularly high profile, corporate women
Keep exclusivity of brand, through continuing small nice market
Sponsorship female events and brands i.e Vogue - Creates brand association
- “Can a Holden Barina CDX save your relationship?” as an example 2013 TV commercial
- By advertising through the medium of the television, Holden has used a mass-market approach to target a large audience
- The advertisements strategy is to promote and demonstrate the abilities and features whilst relating to its target audience.
- The use of humor in this advertisement is effective in evoking an immediate response from its audience
- Communication is used to stimulate demand for the product and creates awareness about the Holden Barina CDX


-
High user of television commercials
- Opportunity to communicate locally, nationally and internationally
- “Feels good inside” as an example 2013 TV commercial
- Effective advertisement, humorous – captures the attention of the audience – creates awareness
- Portrays improved car features: LCD multifunctional display, Bluetooth functionally, USB connection
- By choosing this strategy for advertising the consumer will see the ad a couple of times and they are slowing influenced and persuaded to try the product out, which can be linked with the cognitive and affective stages of the hierarchy model
Toyota
Holden
- Ferrari has steered away from mass media advertising instead focusing on their niche group directly
- Innovate Design (marketing firm) has researched certain methods, such as direct mail sending glossy pamphlets as a form of advertising
- This is an example of explicitly targeting a specific group within the market
- The website is one of Ferrari’s main advertising mediums which is crammed with images, color and additional information
- Unlike Holden and Toyota, Ferrari does not have mass media advertising, making awareness limited

1. Need/Want recognition: Marketers attempt to persuade consumers about the effects
2. Information Search: Ferrari website provides information surrounding the price and features
3. Evaluation: Consumer undergoes evaluation of other options after researching the product
4. Purchase: influential stage; Ferrari magazine.
5. Post - purchase evaluation: assessment of level of happiness, you are part of the Ferrari family after purchase (exclusive group)
Benefits offered and types of users.
Holden Barina CDX
Toyota Corolla Ascent:
Already targets mass media
Commercials on pay-tv
Successful brand, with consumer brand awareness
100% people knew the brand and logo
Mass media marketing
Pay-tv commercials
95% people recognized Holden's logo
Strong brand awareness
Ferrari
'Those attributes that actually deliver the benefit that forms
the core product'
'All the possibilities that could become part of the expected or augmented product'
Determined by profitability and sales during a particular time period
Full transcript