Marketing Plan – Volkswagen Corporation

Marketing Plan – Volkswagen [Name of the Student] [Name of the Institute] [Date] Marketing Plan – Volkswagen Company Profile Volkswagen is an automotive corporation running successfully all over the world. It consists of numerous different brands particularly of the vehicle for a range of cars targeting a diverse customer demographic of age groups and income ratio. The company was established in 1937 and it prominently became one of the top automotive manufacturers in Europe and other countries. The leading brands of the company are Audi, Skoda, Porsche, Man, Seat, Bentley and a few others. The company is efficaciously dealing in passenger cars and commercial vehicles. The competitive advantage in the marketing strategy of Volkswagen comprises of a strong brand portfolio, financially strong group, and low operational cost. Therefore, it has been observed that the company is running successfully all over the world and it shares a good market share percentage. According to the company’s profile, the global car market share rose slightly to 12.1 percent in the current year (Volkswagen, n.d.). Market description Volkswagen was originally established in 1937 in the German automotive industry, which largely composed luxury cars with latest models. The targeted customer in the context of demographic factors comprises of the people from 25-50 years old, approximately 80.5 percent employed, 22.2 percent single with 32.3 percent degree holders and mean income which is greater than the 50th percentile (Barth, et al., 2017). However, the company satisfies their target consumer's needs and wants through segmentation which significantly helps to shape the marketing mix. The four segmentation groups include geographic, demographic, psychographic and behavioral segmentation. Additionally, the requirement for target market comprises of similar factors. It has been perceived that through the analysis of Volkswagen and its competitor’s that long-term value and sporty image are two key characteristics the target market seeks for. The company is positioned as the premier hatchback in terms of perceived value. However, an image repositioning strategy towards a sportier and greater fuel-efficient image is recommended. The key competitors of the company are Toyota, General Motors, and Ford. Product Overview Volkswagen has been offering numerous products with individual identity and a common goal as mobility since few decades. Similarly, Volkswagen has been offering its Volkswagen Golf cars like the Golf GT MK6 model specifically in the Singapore market. The model was introduced back in 2003 and after releasing the first Volkswagen Golf car they are constantly adding the latest and innovative technology and refreshing the exterior and interior designs of the car. In 2015, the company launched the latest model of Golf car as 1.4 TSI (DRG). Few key features comprise of: * Lighter and fuel efficient * Advanced engine * Safety features * Latest and stylish exterior and interior * Sunroof * 5-Seater * Leather Sports Seats * 5-Speed Manual Transmission Competitive Overview Volkswagen, as mentioned, is a German Automaker company running effectively all over the world particularly in Coram, Smithtown, New York, and similar other countr...