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Marketing a New Product - Research Paper Example

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Marketing a New Product

These services rendered by the company are generally related to the mobility parameters and thus encourages the consumers to purchase the automobiles for a safer and hassle free journey. Though the company encompasses a large number of automobile brands yet the company endeavours to render an individual identity to each of the different brands falling under the banner. The individual brands and companies working under the common banner of the Volkswagen group perform in a collaborative fashion to enhance revenue and market potential of the company in the international market (Volkswagen, 2010). Analysis of the Market Performance of Volkswagen The market performance of the Volkswagen shows that the company has gained a huge market acceptance both in terms of market shares and revenues. It is found that for consecutive ten months of the financial year 2011 the company recorded a sales of around 6.80 million vehicles through conducting sales from its different branches. This sales figure reflects a rise of around 13.8 percent in respect of the sales occurring in the previous year. In regards to delivery figures the company records an increase of around 21.2 and 21.8 percent rise in respect of regions like North America and United States. Similarly in various European regions the Volkswagen Group recorded a high sales figure which rose by around 21.8 percent in respect to the previous years (Volkswagen, 2011). Need for Developing on its Product Lines It is found that regions like North America and in other European countries where the company has targeted in expanding its operation base is also subjected to large amount of snow falls. Snow falls in this region is likely to grow to around 25 inches in height mainly in the months ranging from November to April. Thus in regards to this fact the automobile company is required to devise new strategies in product development by adding wipers in the side mirrors of the cars manufactured. This development made in the product line would help the users get rid of blurred vision caused due to damaged windows (NaturalHazards.org., n.d.). Explanation of/rationale for new product It is observed from the above discussion that the company gains a larger portion of the sales revenues through its enhanced sales in the North American region and in other European markets. To address the expansion activities in these regions in an effective fashion the company requires strategising and customizing its products. One of the effective strategies in regards to customization is the addition of wipers to side mirrors of cars. This creation of wipers helps in enhancing the effectiveness of the vehicles running in these regions. Creation of wipers along the side mirrors would help the automobile company counter contingencies like heavy snow fall or rainfall. This creation of wipers acts as a value addition to the automobiles manufactured by the company in regards to the North American and European regions. Through the use of side wipers the consumers can drive safely in the North Amer ...Show more

Summary

Marketing a new product Contents Overview of company, market and existing portfolio of products/brands 3 Portfolio of Brands and Products 3 Analysis of the Market Performance of Volkswagen 3 Need for Developing on its Product Lines 4 Explanation of/rationale for new product 4 Identification and justification of target market 5 Target Market in North America 5 Target Market in Europe 5 Identification and rationale for brand positioning 6 Marketing mix strategies 8 Product Mix 8 Price Mix 8 Place Mix 9 Promotion Mix 9 References 10 Bibliography 11 Overview of company, market and existing portfolio of products/brands Portfolio of Brands and Products The automobile manufacturer Volkswagen AG host…
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