Excerpt via Essay:
Audi: Segmentation and Marketing Plan
Audi is a high-class car manufacturer with intercontinental sales and recognition due to the cars, but without the degree of market share as other luxurious brands such as Mercedes and BMW, and without the impression of extreme efficiency and high-class offered by brands such as Porsche and Ferrari (Motor Tendency 2010). Simply by developing better market segmentation and a general marketing strategy, Audi can better position itself to achieve better growth and a larger market share in the luxury auto sector. This conventional paper will attempt to realise a brief summary of various ideal components which should be considered and acted upon in Audi’s marketing strategy.
Segmentation
Industry segmentation can be described as key element of successful advertising plans in all of the industries, and possibly especially in the extremely competitive automotive aftermarket. The higher cost of luxury vehicles adds even greater complications to marketing efforts as it makes these items extremely discretionary and therefore highly dependent upon proper manufacturer imaging and company account. Developing appropriate constructs of market sectors beyond the regular older and upper class buyer of luxury automobiles is key to Audi’s continued achievement. This first identified marketplace segment should indeed be important to Audi’s growth and forms an element of the company’s current marketing strategy and product style processes, yet this elderly demographic can be not enough to sustain long term growth (Audi 2010; Car Connection 2010; Motor Trend 2010). Other market segments to focus on are discovered below.
Youthful upper-class consumers and especially young upper-class urban dweller can also be a profitable industry segment to get Audi and other luxury cars; performance capabilities and alterations are a significant part of the design and style and engineering aesthetics that go into most of Audi’s vehicles and the modern and modern body designs of some of Audi’s cars would definitely hold charm to young drivers (Car Connection 2010). Hip-hop lifestyle promotes a flashiness and image of noticeable yet top quality consumption that Audi’s promoting efforts could also tap into, opening new industry segments to get the company’s revenue (Motor Trend 2010). These two market segments are mostly younger demographics, yet the luxurious price tag in the Audi range requires that enough credit rating and/or funds be available for purchase, making these somewhat challenging market sections to capitalize on in a substantial way that would prove profitable in the long-term (Audi 2010).
Market segments that would provide increased long-term profitability as well as a much larger population of potential buyers are definitely the middle-aged provincial professionals along with younger urban business professionals. These are industry segments that tend to have their own money yet are also highly inclined to projecting a specific self-image of stylishness as well as the affordability of luxury in your daily course styles, and Audi supplies this graphic in the two appearance of its autos and in their performance requirements – the 2 of which combined create wide-ranging popularity for varying reasons among several consumers (Audi 2010; Car Connection 2010; Motor Trend 2010). Tackling a broad array of marketplace segments is definitely in Audi’s best interest.
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