Marketing Mix Tactics: ELI Electric Vehicle
Today, with advent of new technologies and with increased competition, it is found that several organizations are deploying different and innovative marketing campaigns to increase the overall sales of the organization. The top-level management of these organizations need to launch new marketing strategies that will help them overcome the market challenges, market competition, and will also fulfil the sales objectives of the organization (Aaker, 2008).
The organization, further, needs to conduct market research before directly implementing the marketing plan for the given products of the organization. They need to determine the price, promotional strategy, place of promotion, and identify key features of the product that will help them attract more customers toward the given product (Arnerson, 2011).
Also, the marketing team of the organization needs to make sure that they are not only able to achieve required objectives of the organization but are also able to achieve the objective of sustainability in a given work environment.
The company needs to overcome different marketing challenges of the environment and accordingly place the products in the market so that they can easily target them to the intended customers in a given market. This report will discuss the marketing plan and will identify key marketing strategies that will assist the organization in achieving desired marketing objectives of the organization.
Developing Marketing Objectives
The purpose of the marketing team is to identify the key features of a given new product, determine the competitor's product and accordingly place the product in the market with a given marketing strategy that will differentiate the given product either on quality, pricing, or any other features (Arnerson, 2011). It will subsequently help them capture the attention of the target market in a given environment.
They will thereby deploy second stage of marketing strategies that will bring these customers to the retail outlets of the Electric Vehicles. The customers will be explained about the important features and benefits of this product so that customers can get complete knowledge of the product before making the final purchase.
Second, considering the launch of such electric vehicles in the market, it is also necessary to spread necessary awareness levels in the market so that customers can visit the stores and have a test trial of it. They need to have the experience of such products before making a final purchase call of this product (Brow, Bessant, & Lamming, 2013).
The role of the marketing team is thereby to bridge the gap between the sales team and the customers and thereby ensure that the customers are able to make the purchase of the product. In a given marketing plan, the objectives will be highlighted for the marketing team on how to attract the customers' attention while in the stores and what steps can be taken to close the final deal.
It is important to communicate with the customers and identify their major queries in the conversation. The marketing team should be able to provide satisfactory replies to such queries so that the problems of the customers can be resolved. The queries can be related to models, pricing, quality, and other benefits associated with a given product.
The marketing team can also deploy a promotions plan for the purpose of increasing the total sales of the electric vehicles at a given store. It will also help the organization to achieve required marketing and sales objectives of the organization in a given environment (Cooper, 2012).
Marketing Mix Tactics
The organization will be launching different product models that will have different performance capacities. Second, these products deliver high performance, offers other functionality compared to other vehicles, and also saves on pollution. Apart from design, technology, and quality, the product also offers safety and convenience to the customers.
Today, it is found that the issue of pollution related to different vehicles has increased in a given environment. Even, customers have become more aware of it and are searching for better products in the market that can help them resolve this issue. Hence, they might switch to such electric vehicles that can provide with similar performance, quality, and also assist in controlling pollution in a given environment (Cooper, 2012).
Hence, the marketing department of the organization needs to focus on the aspects of controlling pollution and delivering high performance while preparing the marketing plan of the organization. They also need to demonstrate visuals and other forms or presentation to spread more awareness on the given product.
The pricing of the product should be kept in alignment with the prices of other vehicles. Apart from the functionality of the given product, the top-level management can highlight certain features of the product such as technology, design, style, and other such features. It is important to deliver the message of sustainability through utilization of such vehicles to the intended customers.
It will help the company to remain competitive in the market environment and subsequently achieve more sales for the given products in the organization. It is important for the marketing team to determine the prices of other products in the market. They can also invest in research and development so that they can develop price-centric products for the customers.
The customers will be able to afford such products and hence the company can thereby target to a larger segment. It will subsequently help them achieve required targets from the sales perspective (Garay & González, 2012). However, the marketing team needs to monitor the pricing strategies on a frequent basis so that they can make necessary changes as and when required.
This is one of the major elements of the marketing mix and plays a vital role in the sales of the products. The company needs to focus on the aspects of advertising and promotions and thereby prepare the marketing plan to sell the electric vehicles in the market. Advertisements will help the organization to increase the awareness levels of the products in a given market.
Similarly, promotions will help the company to introduce new launching offers in the market. The customers should be informed about such offers through different forms of advertisement. However, the marketing team also needs to take into account budget considerations and constraints before preparing the promotions plan for a given product. They need to thereby choose the marketing channels wisely and subsequently manage them from the budget perspective (Liu et al., 2010).
The costs associated with such forms of marketing are high and it is important for the marketing team to determine the most appropriate marketing channels and mediums. They also need to allocate budgets separately for digital marketing to reach the intended target audience.
Further, they also need to look out for promotions through in-store advertisements and thereby capture the attention of the audience. It is important to communicate the desired message of advertising and promotions through such means to these customers to achieve required sales targets for the organization.
The organization needs to identify the places through which they will be able to sell these products. It is important to determine the stores and other such places from where these products can be delivered to the customers.
Further, the top-level management in association with the marketing department needs to identify the cities from where these products will be sold to the customers. They can thereby prepare the marketing strategies for each of the stores and accordingly sell the products from different locations.
They need to hire regional managers that will be looking after the sales and other processes of the organization (Chernenko & Sunderam, 2012). They will be also reporting to the senior management on the daily and monthly sales updates so that the top-level management can monitor the progress. They can also modify the strategies as and when required.
It will thereby help them achieve desired sales targets across different stores in multiples cities of a given nation. The marketing team, however, needs to carefully choose each of the store locations and also provide them with necessary support services to exceed the expectations of the customers.
It is important for the marketing team to communicate clearly about the objectives of the organization to the staff. They need to be trained on the modules of sales marketing, services marketing, and other affiliates form of marketing. Only then they will be able to deliver results as per the expectations of the organization (Menzly & Ozbas, 2010). Further, the marketing team needs to prepare the marketing plan after identifying the marketing mix for the given products - Electric Vehicles of the organization. They also need to undertake the market research before formulating the final marketing strategies of the organization.
The marketing team at the stores need to communicate clearly and explain about the major benefits of the product to the customers. They need to become more social and also focus on the services aspects of the product so that customers can get attracted to buy those products. It is important to think out-of-the-box for promotions to provide the best discount offers to the customers during the launching time.
It is equally important for the customers to get aware of such products and purchase them. The role of the marketing team in a given organization can thereby considered as vital from different perspectives. It will thereby help the organization to achieve required objectives in a given challenging environment.