Marketing Management for Mercedes Benz S Class- myassignmenthelp

Question: Discuss about theMarketing Management for Mercedes Benz S Class Coupe. Answer: The Mercedes Benz S Class Coupe Night Edition The Mercedes Benz S Class Coupe Night Edition car was launched in 2017 and it has six cylinders with a top speed of 250. The car is a Mercedes Benz brand which is one of the widely known luxurious and well-built automobiles from German. It is a two-door model car making it to be liked by many people. The vehicle has distinctive radiator grilled with a sing louver in high-gloss black; it also has paintwork in Selenite grey Magno which is optional. The company came up with this vehicle to be among the world leading top cars. Therefore, the vehicle was manufactured targeting rich and prosperous customers (Mercedes Benz, n.d.). Steps involved in writing a marketing plan A marketing plan is one of the most vital components when starting a business. It helps businesses to focus on how they are going not only to make a profit but also keep their customers. It states the objectives of business, its facts, and numbers (Cameron, 2014). The plan also shows the product to be sold, the customers and tools and tactics one can use to achieve sales. The following are step involved in coming up with a marketing plan. Positioning Position refers to coming up with a way of identifying the benefits of the product to the customers and the space it may occupy in the market. It involves coming up with a good image in the consumer's mind that is how one wants people to view your product about market and competition. To achieve this one needs to come up with the uniqueness of the product that will differentiate it from that of competitors. The Mercedes Benz S Class Coupe Night Edition' is highly positioned with a speed of 250, has a distinctive radiator which is grilled with a single louver in high-gloss black which gives them an upper hand from competitors and also drawing customers attention. Objective Setting the objective entails coming up with what one wants to accomplish with the product. What one wants to achieve should be (SMART) which means being specific, measurable, attainable, reasonable and timely. The primary objective of this brand of Mercedes Benz is to bring out a good quality of a car with high technology that targets customers from a higher class. Strategy The strategy involves taking time to decide and come up with something that will help achieve the objectives. In this part one identifies a space in the market segment that has not been touched. For one to achieve their goals they need a product that challenges the existing one. For example, the Mercedes Benz S- Class, has high technology and also contains internal features with security systems. Coming up with a vehicle with security systems is a good strategy because many vehicles lack security systems. Tactics/planning For any beneficial marketing plan, there must be tactics to be used to achieve the objectives. The tactics involve using the resources and experiences available to come up with actions or activities that are able run with resources available (John, Katherine Jocz, 2012). In this category marketing communication is the vital aspect. Mercedes Benz S Class Coupe uses online platforms for marketing which is a tactic that reaches customers all over the world without spending a lot of money (Mercedes-Benz, 16). SWOT Analysis SWOT is a useful marketing tool which is used to unveil the internal and external factors of the business. The acronym SWOT stands for Strengths and Weaknesses which are internal factors while Opportunities and Threats are external factors. Internal factors are the resources and experiences that are available which may include financial, human, physical, and natural resources (Blythe, 2009). External factors are those things that are uncontrollable by the company or business; they include; political and economic regulations, funding, marketing and economic trends. Therefore it helps to know how to run companies and businesses without incurring losses. Strengths and weaknesses Strengths are the advantages an organization has over the others. This the uniqueness of a product and factors that make customers go for it, while weaknesses are what things an organization should improve or avoid and the factors that can lead to losing of customers. When there is no good relationship between employees and employers, then that is a weakness and when there is a good relationship that is the strength to the organization because they will work together. The Mercedes Benz has a good reputation with customers, and their products are viewed as those of quality. The Mercedes Benz S Class Coupe can capitalize on these to get customers. The weakness of this product is that there is slow customer response to the product because it is still new. Therefore weaknesses can be overcome using strengths. Opportunities and threats These are the interesting trends that businesses can be aware of and pick them up for their benefits. It also involves changes in technology and government policies. It also involves changes in lifestyle and social patterns, while threats are obstacles faced in an organization. Threats are people like competitors and changes in technology that threaten other positions and having debts (Adam, Wim Micheline, 2011). The opportunities that are there for the Mercedes Benz S Class Coupe include the availability of technology that helps one reach customers everywhere with ease. The brand can also export their vehicles through easier transport like water and air. The threats available include the fact that the brand has to come up with innovations every time because the technology is always changing. Competition from other automobile companies will be high, and they have to be ahead. Opportunities should be used to overcome threats available (Kim, Hayes, Avant Reid, 2014). Therefore, it is clear that Mercedes can focus on the opportunities that exist in its market environment to ensure that it surpasses the treats that exist in the context. Competitor Analysis Competitor analysis entails relating competitors to yourself to see how you can move past them. This helps an organization to be clear and confident. One should consider what makes their product unique from those of competitors so that they can gain more customers (Perreault, 2010). An organization has to look out for ways of attaining more customer and these means that their marketing and advertising strategies should be better than those of competitors. For example, Mercedes Benz Company has a web site to market their brands and for this reason get a lot of customers. Mercedes Benz S Class Coupe has better features than other vehicles. It is a two-door model with exclusive wheels, matt paint finish and high-quality special-effect pigment that puts it ahead of other brands (Kumar, Sharma Gupta, 2017). Mission The mission refers to the primary purpose of an organization. Usually, the mission is a statement that summarizes the business organization, its companies and the vision that it has in the industry. It is what a business owner wants to put across to the customers this is the type of message they want to be associated with their company. How they want customers to know about them and their competitors to view them (Top gear, 2017). The mission for Mercedes Benz S Class Coupe is perfection; this is to provide best quality brands of cars to the customers in the whole world. Marketing Objectives To reach a wider market in the next six months. To build brand awareness as it is a new product. To create good customer relationships. Financial Objectives To ship vehicles in large quantities to minimize on individual shipping costs. To ensure the profit attained is more than the money used in production. To use less than 1, 000,000 dollars for advertisement so that much money can be spent on innovation. Marketing Mix Strategy These are tools that a company uses to get a response from their customers. It consists four Ps of marketing which includes the product, price, place, and promotion. The products are the goods offered by the company; the price is what customers pay in exchange for the product, place or distribution is where customers can access the product and promotion are features and benefits of the product communicated to customers for persuasion. The company can use social media platforms and websites to pass information (Robert, 2016). The Mercedes Company can use the internet to show for example how a product is of different qualities, image, brand, and design. For example, Mercedes Benz S Class Coupe Night Edition has different colors to cater for every customer. The price can be circulated through social media for different customers as people use different social media platforms (Luan, Sudhir, 2010). Place or distribution can be assessed easily as the company can use the website to point out places where customers can access their products (Sinapuelas, Wang Bohlmann, 2015). Promotion can be done through advertising, for example, the brand can make a video of a moving vehicle and how it is driven on social media platforms. Its images can be displayed on their websites. This way it will have used digital communication to reach the customers. Action Programs designed to achieve Marketing and Financial objectives To reach a wider market or audience, and to build awareness, the brand has come up with a group of people to come up with websites and open social media platforms. One of the programs designed is updating the website of the product on a daily basis so that in the case of any changes customers have full information (Mintz Currim, 2013). The social media platforms are also to be updated daily and help in communication with the target market. The customers can ask their questions on the social media platforms and contacted to create good relationships (Maggon Harish, 2015). Another program designed is the brand has come up with a group of managers that will take charge of finances. This is to ensure a lot of money is not used in production than the profit they get. This team is also there to ensure that cars are shipped to the countries in bulk and not one on customer order. This way they will reduce the amount of transport used. This team also has advertisement managers that will look for best ways of advertising the product like media platforms without spending much (Hartmann, Nair Narayanan, 2011). Implementation and control of marketing plan The process of managing the implementation and the control of the marketing plan helps to ensure that a company achieves the objectives set. It involves organizing and giving direction to people and coming up with a group of people to ensure objectives are achieved. During this process, the manager should look for the correct people to work with and use the available resources adequately (Wood, 2008). For example one of the objectives of Mercedes Benz S Clas s Coupe is to get to many customers in the world in six months so the manager should use the correct people and available resources adequately to ensure it is achieved. Marketing control is there to monitor and evaluate the marketing activities being carried out. Monitoring helps the company to know what is going on and the information that they get can be useful (Laudon Laudon, 2010). Without monitoring some things can go astray for example how resources are used should be monitored. Mercedes wants to use less than $1,000,000 in advertising in six months, and market control can ensure this. Therefore, the process of implementing the marketing plan is critical and be considered with care for its successful execution. Besides, the control strategies such as the monitoring and evaluation have played a critical role for the success of the business. Conclusion In conclusion, coming up with a marketing plan gives businesses an easier way of dealing with the products. This helps them to know what to do when and where for what reasons. Carrying out a SWOT and competitor analysis is also important to the organization. This helps them to maximize on strengths and opportunities and try their best to do away with weaknesses and threats. Competitor analysis also helps on the deal with competition and move ahead. Besides, the organization's adoption of the 4P's marketing strategy is critical since it helps the company to achieve its marketing objectives. Therefore market research is an important factor to any organization. References Adam, S., Wim, N. Micheline, G. (2011). Entrepreneurship, Innovations and Economic Development. Oxford University Press, ISBN No. 978- 92-808-3093-4 Blythe, J. (2009). Key Concepts in Marketing. London: Sage Publications. ISBN978-1-84787-498-6 Cameron, B. (2014). Management. Strategic Leadership Review, pp. 22-27. Hartmann, W., Nair, H. Narayanan, S. (2011). Identifying Casual Marketing Mix Effects Using a Regression Discontinuity Design, Marketing Science, Vol. 30(6), pp. 1079-1097. John, A., Katherine, E. Jocz (2012). All Business is Local: Why Place Matters More than Ever in a Global, Virtual World. Penguin. Kim, K., Hayes, J., Avant, J. Reid, L. (2014). Trends in Advertising Research: A Longitudinal Analysis of Leading Advertising, Marketing, and Communication Journals, 1980 to 2010, Journal of Advertising, Vol. 43(3), pp. 296-316. Kumar, V., Sharma, A. Gupta, S. (2017). 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Pearson Prentice Hall