MARKETING PLAN

Branding Strategy

The branding strategy involves coming up with a long term plan aimed at ensuring the success of the organization. In this case, the company name, as seen previously, will be Heritage Automobile. This will be a hypothetical company that will be involved in the manufacture of hybrid and electric vehicles. The Logo for the company will be as follows.

A logo, is one that symbolizes the company as well as the products it is offering. First, a keen examination of the image will show that it comprises of two elements. The first is letter H, and the second is the electricity sign. First, the idea behind the use of the H letter is the selection of the first letter of its name, Heritage Automobiles. On the other hand, the use of the electricity sign will help to show that the company is making electric and hybrid cars. The use of this model will greatly help to clearly understand the company.

Looking at the company Slogan, it will be as follows:

Driven by Sustainability 

            This slogan will be very appropriate for the company based on the fact that it will be company that will be producing hybrid and electric cars as noted earlier. Through this slogan, it will make the customers realize that it is producing sustainable vehicles that are centred on the protection of the environment.

Having entered into the market, a notable brand extension for the company will be coming up with stationary batteries that can be used by consumers and businesses. Today, when individuals required back-up power, they usually resort to generators. However, with the new batteries that will be introduced by the company, this will be bound to change. They will have the capacity to store large amounts of power. They will especially be useful in enhancing sustainability especially based on the understanding that the current generators available in the market are major polluters of the environment.

Marketing Strategy for the product

As noted earlier, the company will use of Omni-Channel marketing strategy. This is a strategy in which consumers will be provided with a fully-integrated purchasing experience through the use of different marketing activities that will be aimed at attracting as many customers as possible. Under this strategy, there are different marketing methods that will be employed including traditional marketing, social media marketing, and affiliate marketing.

Under traditional marketing, the company will lay emphasis on television marketing. This will help it attract a relatively large group of people. Social media marketing will be done through the most famous social media sites including Facebook, Twitter and Instagram. Under affiliate marketing, the use of social media influencers will make it possible to inform potential customers about the existence of the company.

The implementation of the marketing plan will be done as per the following Gantt chart.

The above diagram Gantt chart shows a proper timeline in which the marketing strategy will be implemented. The first form of marketing, and which will be given the first priority will run from the 1^st to the 30^th of June. This will be important in order to immediately capture the viewers of prime television programs immediately after the company has begun its operations. Immediately informing these of the existence of the company will make it possible for them to immediately develop an interest for the company and hence end up making the purchase. Social media marketing will run from the 1^st of July to 31^st December. This will take a relatively longer period of time due to the need to capture the high number of people that make use of social media. Affiliate marketing will commence a month after the commencement of social media marketing. The one month period will help to establish the most effective affiliate marketers, and later engage their services.

Positioning Statement

The positioning statement of the company will be: A company that sells environmentally friendly cars at a relatively low price. This can be illustrated in the perpetual map below.

The above perpetual map clearly shows that position of the company as compared to its competitors. The elements that can clearly help to tell its position are price and sustainability. Companies which it is highly likely to outdo in the sustainability front are those that are low on sustainability. It will especially be a position to achieve higher competitive advantage for those charging a higher price. Consumers that will go for the cars that have a lower price and low sustainability are those that will not be keen on protection of the environment. On the high on sustainability front, its direct competitors will be both charging a high price and a low price. However, will easily be in a position to win over the market through charging a lower price. For the companies charging low prices such as Kia and Wheego Electric Cars, the strategy will be first determining the exact prices that are charged by these companies. It can then seek to charge a relatively lower price. However, in doing this, the company will need to be careful in order to avoid lowering its price to an extent that it is not even able to gain any margins.

Consumer behaviour for the target market

Consumer behaviour examines how customers behave in a market towards a particular product. Looking at the consumer behaviour of the target market, these will be individuals who tend to portray a sustainability lifestyle. This means that in making their purchases, they usually make consideration of whether or not the product is sustainability. If it is, then they will go ahead and make the purchase. In addition, for these individuals, they will also make considerations on the price of a product. The item does not only need to be sustainable, but also should be sold at a relatively lower price. This is because they will fall under the low income segment, and hence their financial ability will only lead them to make such purchases.

The brand name, the logo, the slogan, the brand extension, positioning statement and the marketing strategy are right of the identified target. Looking at the logo, the inclusion of the electric sign means that the company has targeted those consumers that prefer to live a sustainable lifestyle. Further, the slogan of the company, driving sustainability, is one that is also geared towards attracting these individuals towards the purchase of these types of cars. The brand extension on the other the other hand shows another product of the company that will drive sustainability. Instead of using cars that generators that pollute the environment, the company has introduced the sustainable batteries. In the positioning statement, the company has positioned itself as a highly sustainable company that sells its products at a lower price. This will help to attract the sustainable lifestyle consumers as well as the low income earners. In the use of the omni-channel marketing strategy, it is possible to reach these people irrespective of the channel that they may be using.

Company’s mission statement and introduction

The company mission statement will be as follows.

To satisfy the sustainability needs of its clients through offering the highest quality cars at a consumer friendly price.

This mission statement will help to show what the company seeks to achieve in the market. Through it, one can clearly see that the company has set an agenda of making sure that sustainable cars have been introduced in the market that are friendly to the pockets of the consumers. Through this mission, it seeks to attract a lot of people, not only those that want sustainable cars, but also those who will be willing to pay a relatively lower price for its product.

In its operations, a simple introduction of the company will be as follows.

Heritage Automobiles is a manufacturer of hybrid and electric cars. The company is headquartered in Mason, Ohio. The formation of the company was formed after the realization that there is a huge gap that needs to be filled in the sustainable cars market. Although there are notable companies that have entered into this front, most of the cars they produce are not pocket friendly. The company, in line with the needs of the customer has sought to produce hybrid and electric cars that will be attractive to our clients not only due to their quality and environmental friendliness, but also due to their low prices.

References

Agarwal, G. (2016). Consumer Behaviour. New Delhi: SBPD Publications. .

Anderson, C. D., & Anderson, ‎. (2017). Electric and Hybrid Cars. Jefferson, N.C: McFarland.

Gautam, A., & Dhar, ‎. (2017). Sustainable Energy and Transportation: Technologies and Policy. Singapore: Springer.

Lee, A., Yao, J., Mizerski, R., & Lambert, C. (2015). The Strategy of Global Branding and Brand Equity. London: Routledge.

Pophal, L. (2016). Best Practices In Influencer Marketing: Insights from Digital Marketing Experts. Sudbury: eBookIt.com Store.

Ramadan, S. (2017). OMNICHANNEL MARKETING : the roadmap to create and implement omnichannel strategy. New York: CREATESPACE.

Starling, L. (2011). The Logo Decoded: What Logos Can Do to You. New York: Balbao Press.