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Development and Expansion Strategy of SMART Cars - Essay Example
SMART Car UK has appointed E Digital agency to develop and expand on their online marketing channel to increase sales and improve customer acquisition and retention. They allocated 1.5 million towards this marketing strategy and in return want to increase revenue to 8 million in 2006/7.
Its product range exists out of three models, the ForTwo, ForFour and Roadster in hard top and cabrio styles.
SMART's key issue has been always been the environment, with guidelines ensuring SMART cars are engineered to protect the environment by being energy efficient and preserving natural resources. SMART's policy starts with development, runs through production, and ends in the recycling of many SMART components.
SMART Car UK has a multi-channel approach in selling their relevant products and services. A customer gets acquainted to products and services by visiting their respective website's www.thesmartcar.co.uk & www.smarttogo.co.uk, and purchasing these products at one of 53 SMART dealerships.
In the fiscal year of 2004/5, SMART UK's turnover was 6.8 million and the growth forecast indicate a possible increase rate of 15% for the 2005/6 period, with a total turnover forecast of 7.25 million. SMART's online marketing and promotion contributed towards the sale of 850 units of the total 11000 sales in the UK in 2005.
Smart car UK is already a established business with a strong consumer base from which to launch a aggressive marketing strategy to increase its share of the automobile market. Some of its strong points are:
SMART car as a new entry to the automobile market offering the consumer the retro unique look. ...