New Product Launch Marketing Plan Essay

Our company is Audi AG. Audi is headquartered in Germany and is a subsidiary of Volkswagen since 1966. Founded in 1909 by automotive pioneer disdainful Horch, Audi specializes in high blockade and expansive automobiles (Audi Club coupling America Northeast , 2014). Audis gondolas appealingness is comprised of sedan, SUVs, convertible, coupe, diesel and hybrids. Audi is one of the three biggest luxury cars companies in the world. Our invention is to launch our forward-lookingest headlamps engine room along with thousands of radical cars roughly the globe. The automobile commercialize is driven by technology and Audi intent to be the premium score (Audi Ag, 2014).We intent to do so, by delighting our nodes worldwide (Audi Ag, 2014). Safety is the number one conclusion motivator when purchasing a car regardless of where you live and Audi wants to capitalize on that.To predict our consumers buying impulses, we provide rely on social, cultural and personal circumstanceors (Kotler & Keller, 2012).Now is the best age to launch such(prenominal) a harvesting as people drive more and more due in s take in to recent planes crashes and disappearance. By making night rides safer, Audi intent to gain an edge against its competitors and annex annual sales. Germany and the the States leading be our launching platform. We intend to maximize our sales by putting together a strong advertising campaign.We will be utilizing social media like Facebook, Twitter, Instagram, we will also advertise via television, radio, billboard, and so on Our advertising team is composed of Me Philippe Biboum, Kevin Mobley, Kirkland Browne, Dana Cannon, Tameika Mclean and Johanna Gutierrez. We argon highly qualified and we have combined oer cardinal years of experience in this field. Here argon the components of our plan.Executive summarySituational analysis merchandise appendage potentiality and combative analysisSegmentation, target marketplace, and sitingPricing and distribution strategiesMarketing communication planFinancial information(including forecasting demand, break-even, sales, promotional budget, and marketing expense) Intended marketing objectives for Y1, Y2, and Y3Evaluation and control metrics and methodology to measure performance Contingency planningSituational AnalysisThe Audi of America News Channel (2014) website stated that in July 2014, Audi increased its sales by 11.9%. This represents the 43rd consecutive record sales for our check off. The launch of our new headlights technology will increase sales even more. Germany and America will be our test launch and we are confident that it will be a success. Our target markets are rich men and women as good as families. Our product will be change to e genuinely individual who is sufficient to purchase and hold up a luxury car. We have a wide collection of cars to will fit everyone lifestyle. In footing of demography, our product aims at people between the age of 25 and 60 wh o have a hatful of money. We recently have been making cheaper car to capture the consumers less than 25 years of age. Audi is aware of the detail that gender, family status and age influence car buying, that is why we built certain models fit younger genesis like the A6, SUVs and sedan for families and coupe for single people.Geographic everyy speaking, Audi bops that car buying differ according to the location. Our product will be appealing to individuals who live in the outskirts of big cities, or deep in the country because they very much have to drive on itinerarys that are non well lit. Social disunite, personalities and lifestyles divide the market into psychographic segmentations. Audis cars are aimed at upper social classes. We target individual who like a inexpensive lifestyle and want to show their wealth because we know they female genitalia afford the technology. About the market growth, we know that there is a need for a product such as our new headlights. Ac cording to the passageway Loss Data work (HLDI), good quality headlights are one of the best ways to suspend car crashes (Insurance Institute for Highway Safety, 2012). The recentplane crashes along with airfare are hotheaded people to drive more and more. We know we will increase our sales as long as we have a strong marketing campaign to advertise our product.SWOT analysisOne of the medium here is that our product provides a safer nighttime driving experience for drivers who do long distance driving. The exist to add the bluster will increase the purchase price of the vehicle and this is a weakness. An opportunity could be the rough-and-ready utilization of marketing approaches will dish to determine market need (i.e. surveys) and gain a competitive advantage (promotion, placement/positioning. Audis competitors such as BMW, Mercedes Benz, etc. can use the resembling or similar product if there is no patent on the development of the product and this is a threat to our bot tom line. Our make out to success here is to respond to consumer demand by creating a product they want and need. That product is the new headlights technology. This product will separate us from our competition because it is an innovation, it will help save lives and increase our bottom line.Market growth potentialAudis goal is to slowly meld their LED headlight technology into all of their vehicles. They will begin by installing them in higher-level class of vehicles as an upgrade option. Brighter, time-consuming enduring headlight bulbs will reduce the follow of replacing perpetual bulbs, and brighter headlights will increase driver profile at night. Audi expects competitors to install similar devices in their vehicles however, Audi believes their version is longer lasting, brighter and safer for Audi drivers as well as, other drivers on the road.Competitive AnalysisThe automobile industry is fiercely competitive in the United States as well as, internationally. In 2006-20 08, the automobile industry suffered a significant monetary loss, especially the big three in Detroit. Foreign automobile manufacturers took advantage and saw growth. While around Asian and European manufacturers also suffered, many upgraded base models to entice buyers to purchase their product. Automakers did what they could to gain the upper raft against their competitors. Audi was no different, chaffering a drop in sales during this time. For many customers, resort, reliability, andfuel efficiency are increasingly important, more so than flash, speed, and power. The safety and visibility of an Audi driver is a priority Audi is attempting to increase.SegmentationThe market segmentation has spate, but distinct parts geographical, psychographic, and demographic. Audi will use geographical sales statistics to determine where sales are highest. Introducing upgrades and changes to Audi vehicles to the customers who buy them more frequently will returns Audi and satisfy customer demand. Audi is responding to increasing customer demand for safety therefore, increasing driver visibility satisfies customer demand. Moreover, the longer lasting, brighter headlights benefit teen and patriarchal drivers who may become easily distracted or have difficulty seeing at night. The increase in safety may also decrease accidents, which will make insurance companies happy.Target MarketAudi is not specifically targeting one particular group however, brighter lights will benefit drivers with limited experience or with poor vision or night vision the most. Elderly drivers are more likely to benefit from brighter headlights to increase their visibility at night. The headlight feature is not limited to elderly drivers though, all drivers can benefit from the safety feature. Audi expects high customer satisfaction and will eventually implement the LED headlight in all of their models. Any driver concerned for safety is part of the market Audi is targeting. Longer lasting lights means less maintenance cost, and brighter lights means other drivers can see the Audi sooner, and the Audi driver can see the road or and any debris in the road, sooner.PositioningPositioning is important, and precise placement of the headlight translates to better driver visibility. However, regardless of how bright or long lasting the headlight is, defensive, non-distractive driving is key to reduce traffic accidents and avoiding road hazards. Moreover, the ability to see an item in the road sooner will help the driver prevent a collision however, failure to pay attention to the road will increase the potential for at-fault accidents and collisions. While many discard some features as unnecessary, brighter, longer lasting headlights is a product Audi feelsconfident implementing, and confident customers will respond in an overwhelmingly positive way.Pricing & statistical distributionWhen looking at pricing and distribution there are several factors to be considered. The wholesaler s will always calculate its prices by adding the cost of the product itself (headlights), wages involved in the production, the overheads and cost to deliver such. Then, after the wholesaler calculates a reasonable mark-up, the product will then be sold to Audi. It is then Audis job to make the best out of this product by the promotion it carries out. earlier Audi agrees to any business with a headlight manufacturer Audi strategizes and plans a how to price and distribute. Audi is a well-known luxurious vehicle where they now will have an added feature to promote safety.The sales potential are very high as we are targeting those that enjoy road trips, those that are behind the wheel for extended descend of hours. Audi then has to reanalyze its decision and consider losses, what if this does not work, how this will impact our business, what are other cost useful routes we can take. These are all considerations Audi has to take into play if the brighter headlights for their vehicle s do not create more sales. This is qualifying to be considered as a standard on all of Audi vehicles, it is not an add on feature Audi plans of charging extra for.Marketing Communication PlanAudi believes in its product. Before a company can be successful it must build its own awareness. Audi has built that awareness Every day you see accidents ca employ by poor visibility due to poor lighting. Audi will use this to their advantage when marketing and communicating to its customers and potential customers the advantages of Audis new improved headlights. Furthermore, it is advantageous for Audi to stress the fact that the price tag of the vehicles have not changed due to the improved and upgraded headlights. Audi has been dedicated to communicate to its customers, potential customers and competitors that they have the solution for accidents caused by poor visibility due to poor lighting. They are advertising this through every mean of communication possible. Then net profit/ media is a huge marketing communication source, the radio, newspapers, billboards, and the public itself by word of mouth. When drivingon the road if you see an Audi vehicle you will see the difference in their bright headlights when compared to other vehicles.Asserting the fact that you communicate with all of your customers and potential customers plays a vital part in how successful this will be. Audi has set families and one of their targets and this is the main target we are communicating our new product to. Audi has partnered and networked with different sources such as safety programs and/ or famous people, have also taken it a step ahead by recording infomercials on highways, dark roads and valleys to show its costumers the strength behind the new headlights their vehicles have. Audi has been servicing consumers up of one hundred plus years and Audi intends on being a provider until the end of time in order to stay relevant in the automotive industry Audi is aware of the evolving of automobiles. Audi has done its look throughout the years and through the years consumer safety has remained the number one factor when building an effective brand.Audi has go along to serve the consumer while be at the head of its class of Luxury automobiles. In historical research through the National Highway Traffic Administration Audi found that one of the major issues of car accidents within the United States stemmed from blinding headlights (NHTA, 2013). The new product that Audi seeks is to install the LED headlights with objectives based around consumer safety first as well as profit. The objectives provided focused on the product from beginning to end starting from year one when Audi began searching for the new product to elevate the company. Audi will definitely grip its target audience as well as reach its sales growth, once it begins manufacturing the product and getting the products in its show rooms.ObjectivesYear 1Completed research on issues surrounding veh icle safetyFind the issue and find a product that will assist in increasing consumers babys dummy when drivingFind target audienceYear 2build a Safe brand to suite consumers needsimplement the strategy in vehicles that target our initial consumer market (families) seek profits of upwards of 10-15 percentage within the first year Year 3Implement products in remaining vehicle models that service all consumers. Seek to increase Revenue another 10 to 30 percentBegin research on new product to assist with current featuresFinancial InformationIt is exigent that the financial outlook of Audi for 2014 is predicated on the prior performance drivers. In 2013, the Audi A4, A6, Q5, and Q7 experienced increased sales from the introductory years over the other vehicle models. The A4 and A6 belong to the sedan category and the Q5 and Q7 are in the SUV/ crosswalk category. That being said, it is forecasted that these same vehicle categorys sales will continue to increase in 2014. Therefore, th e introductory marketing of the new headlight designs should be donned in the aforementioned vehicle models.Moving forward, the future(a) financial data, to include forecasted demand, sales, break-even point sales/units, and marketing/promotional budget expense, shall represent the four top selling vehicle models. Audi is looking to increase revenue by four percent annually over the next three years. With the addition of the enhanced headlights, Audi believes the projected forecasts will be successful. Figures A D exposit the proposed forecasts for each vehicle.Figure A.Figure B.Figure C.Forecasted Break-Even Point AnalysisFigure D.Evaluation and Control prosodyUtilizing control metrics to measure the success rate of employed strategies is a very important expression of the marketing plan. Ensuring the success of the chosen methods of marketing is needed to determine if changes should be and/or can be made to increase revenue. There are a variety of metrics tools that can be use d to benchmark marketing data, but identifying four ofthem will suffice for this particular analysis.1 Market size of it the number of units sold to a market in a specific period of time of time (1 year). 2 Market Share the number of units sold in a specific period of time that represents a percentage of the entire market size. 3 Brand Awareness Actual and potential customers being able to identify the Audi brand. 4 Customer Satisfaction Customers perception of Audis product and service delivery. (www.dobney.com, p.4-25).Contingency PlanningThe contingency plan for Audi headlights is very simple. As headlights are already used on every make and model, these advances in technology are not the reinvention of the wheel. These changes propose no danger to the continued success of Audis business operations. We will apply for a patent which will protect our new LED technology and lighting design for two years, and we actively pursue all copyright encroachment to prevent any future instances. As it is inevitable that after the two year protected period that others will follow our lead we will use those two years to develop new designs with admire to LED lighting that will not only increase safety, but will also set apart Audis brand by a visual representation contained in our headlight assembly. A lighten trademark if you will.Our definition of success with respect to contingency planning will be to defend our position for the first two years while developing a trademarked light design for all future Audi models.ReferencesAnonymous. Understanding market metrics. Retrieved August 17, 2014 from http//www.dobney.com/Research/market_metrics.htmAUDI AG. (2014). Retrieved from http//www.audi.com/corporate/en/company/corporate-strategy.html Audi Club North America Northeast. (2014). Retrieved from http//www.neqclub.org/about-us/audis-history.html Audi of America News Channel. (2014). Retrieved from http//www.audiusanews.com/newsroom.dojsessionid=B4BD8EEE4DAD44DA49 C746C83D80A7BE?&id=65&allImage=1&name=sales-news&mid=98 Insurance Institute for