inancial crisis on the automotive industry in general and a special note on its impact on the automotive industry in Vietnam’s automotive sector have been included.
Research Methodology: The study is about evaluating the effect of economic crisis to the marketing strategy of Volkswagen in Asian market. Now to accomplish the objectives of the study positivism approach has been chosen. In addition, the research design chosen for this study is cross-sectional design approach. Now based on the research questions and research design questionnaire has been selected as the data collection instrument.
Findings and Analysis: The aim of the study was to uncover the impact of economic crisis to the marketing strategy of Volkswagen in Asian market. The study revealed that in the global perspective, the company has been able to increase its overall sales volume. In the year 2010 the company has been able to deliver, 7,139,472 cars, but in the year 2011, it increase to 8,160,154 resulting in a 14.3 % growth. In the Asia-Pacific region Volkswagen has been able to deliver 2,140,698 cars in 2010 and in 2011 the company has been able to sell 2,569,765 cars resulting in a staggering 20 % growth.
Recommendation: In order to deal effectively with the ongoing issue of financial crisis, the company should reduce its operating cost and marketing cost. It is highly recommended to the company that they should try to integrate more features to their current product portfolio. To create a balance between the net revenue and net expenses, Volkswagen, Vietnam needs to carry out certain cost cutting activities. The company should consider outsourcing different segments of the business to third parties.
The economic crisis has affected the automotive industry significantly. In the year 2007 the industry faced the heat of subprime meltdown due to issues related to valuation, in 2008 crisis resulted due to structural and solvency problems in the financial sectors, and in 2009 the disintegrate ...Show more