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TRIUMPH MOTORCYCLES LTD. - MARKETING PLAN

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Elisa Brusco

on 11 June 2014

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Transcript of TRIUMPH MOTORCYCLES LTD. - MARKETING PLAN

MAIN GOAL
Increase sale and market share in the US market (large three-cylinder motorcycles)
New target: Successful young men and women (instead of baby boomers)
Secondary data
Primary data
Observation
Focus groups
E-mail/internet surveys
Mail surveys
STRENGTHS
Brand image
Customer loyalty
R&D
Exclusivity
Broad model range
Strong standing within UK market
Control over product features and costs
HOST COUNTRY ENVIRONMENT
Stable government environment
Unionized labor
Population growth
Leisure time and consumer sentiment
Recuperation of US economy
Higher fuel prices = greater demand of motorcycles
Comply with required product standards
Barriers to entry medium and steady
US EPA
National Traffic and Motor Vehicle Safety Act
No anti-dumping laws
Motorcycle Industry Council (non-profit org)
GLOBAL MARKETING RESEARCH
Image by Tom Mooring
SWOT Analysis
TRIUMPH MOTORCYCLES LTD. - MARKETING PLAN
WEAKNESSES
High development costs
Minimal customer supervision of products
Too many new models

THREATS
Major rival brands within the US (HD, Honda, Yamaha)
Legislation
Possible loss of control through partnerships
Short product life cycle
Profile for targeted market
Young successful men and women that want to spend on expensive and classic toys
Innovators
Sophisticated with high self- esteem
Active consumers - purchase upscale products and services
Consume products that show off prestige and success
Trendy, fun loving and adventurous
Outdoors
Spontaneous
Concentrate on California, Texas, New York, Florida and Ohio (1/3 of Nation´s motorcycles)
OPPORTUNITIES
New markets to explore
Outsourcing production (Asia - Latin America)
Partnerships with established manufacturers and retailers
Technological developments
Sociocultural
Environment

Low context/individualistic
Dress for individual success, wide variety
Independence
Self oriented
Value youth
No language barriers
Manners and customs
Education, religion
Values and attitudes, aesthetics
MACROECONOMIC INDICATORS

Growth accelerates through 2014 driven by household spending
Unemployment rate has declined
Disposable household income has increased by 1% in 2013
Household savings have increased
Automotive and retail sectors will continue to expand throughout 2014
Financial strength of companies
Flexible job market
MOTORCYCLE INDUSTRY
Mature: revenue, established technology and processes, product innovation, brand acceptance
Retailers
Development of new products is crucial to attract higher sales and broaden customer basis
Economies of scope and scale
Technological advances to keep up high quality
Competition medium and steady
Medium technology innovation (safety)
High level of revenue volatility (disposable income,leisure time, economic conditions)
JOINT VENTURE
ENTRY MODE
ADVANTAGES
Access to expertise and contacts in US market
Each partner concentrates on core competence
Reduced market and political risk
Shared knowledge and resources
Economies of scale
Overcome host government restrictions
Shared risk of failure
Less costly than acquisitions
Better relations with national government
DISADVANTAGES
Objectives may be incompatible
Contributions can become disproportionate
Loss of control over foreign operations
Partners locked into long term investment
Importance of venture might change over time
GLOBAL MARKETING PROGRAM

X Coalition (contractual joint venture)
UK firm: production (outsourced), R&D, Marketing
US retailer/wholesaler: assembly, distribution, sales and services
PRICING
Market pricing (competitive price similar to major competitor)
Price must include all costs (FOB, transportation, taxes, commissions)
Price standardization + added costs
Global Price Follower (Solberg - 1997)
Less preparedness for internationalization than competitors (Harley-Davidson)
Motivated in expanding international marketing involvement
Standardized price (similar targeted markets)
Limited bargaining leverage against competitors
PRODUCT
Core product benefits
Functionality
Performance (three-cylinder motors)
Image
High-end technology for production
Perceived value
Support services
Adventure tours in the US
Warranties
Financing
New rider training incentives
Accessories
Clothing line
Repair/maintenance
Blogs/Forums for Triumph fans
LIFE CYCLE: Mature and stable
Product attributes
Classic
Sophisticated
Renowned brand name
Country of origin
Price
Quality
Design
Size and color variants
Low costs per customer
Maximum number of competitors
Product differentiation and brand and model diversity
Build intensive distribution
Maximize profits while defending market share
Motivate new customers to brand switching
Branding

Manufacturer´s own brand
Single brand for all models
Celebrity branding
DISTRIBUTION
Joint venture with US retailers/wholesalers
Retailer assembles some of the parts of the motorcycle, and remaining parts in the production process (Asia)
Full-service wholesalers
One merchandise line
Sufficient stock capacity
Own sales force
Offers credit
Deliveries
Management assistance
MODE OF TRANSPORT
OCEAN CARRIERS
Low cost
Transport bulky products
Slow
Weather conditions
Combined with other modes of transport
SELECTIVE COVERAGE
Number of intermediaries for each area to be penetrated
E-BUSINESS STRATEGY
Online retail sales (computers, smartphones, tablets) - customer can order online to a certain retailer and the product will then be delivered
EXPORT DOCUMENTS
Transportation documents: dock receipt (carrier), bill of lading, insurance certificate
Banking documents: Letter of credit
Commercial invoice
Government documents: export declaration, consular invoice, certificate of origin
PACKAGING
Containers
Shrink-wrap protection for assembly parts
Balance between high cost of export packaging and price and profit implications for customer and exporter
Design labels
PROMOTION
Persuasive advertising (new customers, increase sales)
TV
Magazines
Radio
Outdoor advertising
Sales promotion:
Free trials
Coupons or discounts for accessories and clothing line
Catalogs and brochures
PROMOTION (contd)
Sports shows and conventions
Trade fairs and exhibitions
Specialty advertising (pens, calendars, key chains)
Social Media
Website for online sales and product development
Forums and blogs for mechanical questions, new aesthetic ideas
THANK YOU !
REFERENCES
PREZI.COM (2013). SWOT Analysis – Triumph Motorcycles [ONLINE]. January 2013. Available from: http://prezi.com/c5zynzl1pad_/swot-analysis-triumph-motorcycles/ . [Accessed: 7th June 2014].
CX.CCXCDN.COM (2010). Motorcycle, Bikes & Parts Manufacturing in the US [ONLINE]. November 2010. Available from: http://cx.ccxcdn.com/pdf/IBISWorld_Industry_Report.pdf . [Accessed: 7th June 2014].
WWW.COFACE.COM (2013). Economic Studies and Country Risks [ONLINE]. Available from: http://www.coface.com/Economic-Studies-and-Country-Risks/United-States-of-America . [Accessed: 7th June 2014].
HOLLENSEN, SVEND (2013) Global Marketing, A Decision Oriented Approach. 6th edition. Pearson Education
Full transcript