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MARKETING PROCEDURES FOR VOLVO'S S60 MODEL
Market Analysis for the Volvo S60
Market Analysis for the Volvo S60
Company profile
Volvo, a Swedish-based car production company, stands out as the leading manufacturer of premium cars. The company produces luxury cars with the vision to provide to the world the most luxurious desired automobile. The company's mission entails providing the world's most exciting and safest cars for the modern families. By extension company seeks to increase shareholders values.
Strengths
Good heritage
Firm trust in their brands
Accredited environmentally friendly production process and use
High regard for safety
Quality Customizations
Good relations with the customer that achieves development of products related to customer preferences
Weaknesses
The company following a change of guard seems to have confusion with identifying itself in the market
The products under the company logo appear costly compared other products in the market
Limited market shares and penetration
Strict to their production standards and position this makes the company's product seem as rigid to the trends in the market.
Opportunities
The current trends in the market for luxurious cars presents an opportunity for the company to capture customers' interests and expand their market share through product customization
Volvo is a company that has put in place the concerns for the environment forehand. This allows them an opportunity to impact positively on the global trend of environmentally safe products.
The company production has measures to cut consumer cost by producing fuel-efficient cars.
Threats
Big international corporations are venturing in Volvo's luxurious cars.
Volatile price for oil makes the car industry face up with highly unpredictable market.
High cost of finances inhibits consumers to access funding for buying cars as well as...
The high and rising concerns for car safety, environmental conservation, and the rising fuel prices should be a core focus for the company. This focus will help the company to incorporate the needs of the company in the new brand Volvo S60. This focus will also highlight to the company the likely population that would be interested in their new model. The target market for a new brand should be consumers who are aware of the existing trends in environmental concerns, the need for safety and the rising cost of fuel. As a company, Volvo needs to market their new brand to these target consumers who can easily identify and embrace the features in the new model. The cost concerns by the consumers will be allayed by the fact that the car serves and targets their concerns (Grant, 2010).
Since its inception, the company's products have always targeted pre-family and family lifestyle comprising of households and average employees leaving in an urban settlement. With new model the company intends to attract a person who has a value for style as well as keeps tabs with the current issues. The urban dwellers aside of being aware of the trends in the market, they are conformist and they will always conform to growing trends in their location. Targeting't urban dwellers will ensure that the population is aware of their brand since product will be show cased in the market. Additionally visitors to the urban areas will observe the trends in the town and enquire more about it. The market strategy by Volvo on new brand Volvo S60will entail making the product appealing to those who have concerns for the environmental issues (Grant, 2010).
Positioning
Volvo's choice…
References
Grant, R.M. (2010). Contemporary Strategy Analysis, 7th Edition. New York: John Wiley and Sons.
Jan, T.S., & Hsiao, C.T. (2004). A Four-Role Model of the Automotive Industry Development in Developing Countries: A Case in Taiwan. The Journal of the Operational Research Society, 55(11), 110-118.
Trout. J. (2004). Trout on Strategy. New York: McGraw-Hill.
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