TM4001 Marketing Principles Assignment Sample
Module Code And Title : TM4001 Marketing Principles Assignment Sample
Introduction
Aspects of this research include an examination of the current British motors digital marketing campaign, branding, the role of ethical principles in both British motors and other organizations, as well as the role of ethical principles in other organizations. The goal of this research is to improve the overall performance of British motors . It is necessary to complete the following tasks in order to have a better grasp of how marketing works in the actual world:
As demonstrated by the data presented, British motors’s marketing strategy has evolved throughout time, notably in terms of the target demographic and the brand positioning.
Task 1
As a result, while the British motors was formerly a well-liked and fairly priced British automobile, it is now more appealing to a younger age as a sleek and luxurious vehicle with a sports car-like appearance that is both economical and practical. Instead of being based on historical values, customer perceptions of British motors in the United States are dependent on the historical iconic image of British motors that has long been associated with the United Kingdom and other comparable markets.
The British motors brand’s marketing approach has earned a reputation for being inventive, intelligent, and even “silly” at times, all of which add greatly to the brand’s appeal outside its youthful and passionate target group. Within the automobile sector, British motors has established itself as a major player (Lerman,2019).As a result of contemporary information technology and social trends all over the world, the digital marketing endeavor encompasses both the “digitalization” of marketing operations and active social networking with clients and other stakeholders.
According to the organization, a company’s most valuable asset and “everything” is the brand that is connected with it. British motors is the most well-known car brand in the world, with a worldwide following. A company’s brand, rather than its products, is more important to marketers than the company’s products are to them. In-depth examination of the British motors’ branding strategy demonstrated that it is successful in the context of this particular circumstance.
Task 2
Promotional Strategy
British motors, like many other organizations, relies on a high degree of ethical behavior and practices to function effectively and efficiently. The pursuit of these opportunities is more important than ever before since they serve to benefit both communities and businesses by joining them in a common direction and supporting them in expanding at a quick rate.
The qualities and traits that separate a product from its competitors on the market are what we are referring to when we speak of differentiation (Ferrell and Hartline, 2008, p.209). When historic style and future trends are combined together, Amos, the Creative Director of JKR Automotive, believes that the British motors’s product has evolved as a consequence of the product’s development (Akbar, 2020).
On the surface, the car’s “face” (BRITISH MOTORS UK, 2012) looks to have been modernized while keeping its British motors shape and historical flair, which serves to differentiate it from competitors. In 2012, the British motors United Kingdom was released. According to the manufacturer, a British motors is differentiated from other vehicles on the road by the use of brilliant colours and various permutations of those colours on its exterior.
Although it is a fact that other automobile firms have distinctive qualities, British motors’s uniqueness has been established mostly on product ties and the brand’s reputation over time, rather than the differentiating traits of other automotive companies (Simms and Trott, 2006, p.234). When it comes to vehicle brands and products, strong differentiation strategies attempt to develop something that no other automobile manufacturer can mimic. British motors’s differentiation strategy achieved this objective with enormous success, as seen by the success of the British motors brand and product (Tybout and Calkins, 2005).
Marketing plan
In marketing, this is the term used to describe a circumstance in which a product is appropriately positioned in the eyes of potential customers (According to a statement on the British motors website, the automobile is “a fun and fairly priced solution for consumers seeking a premium automotive experience” ().
To better appeal to their target demographic, it has been determined that persons who are active and youthful in their appearance would be included in their advertising campaigns. “Affordable boxes of transportation between point A to point B,” according to Pitney, have always been a feature of British motor automobiles (Dahl,2018).
Consider British motors’s advertising and other promotional materials to get an idea of where the firm is now at in terms of its marketing strategy. BRITISH MOTORS, for example, sells itself in Zurich as a practical car that is also more spacious, following the example of a newspaper advertisement, among other things.
Appendix A contains advertisements for the British motors S that portray the car as the polar opposite of a soft, clumsy, and weak automobile, and instead sells it as a dynamic and robust vehicle (Appendix B). It is highlighted in this ad that British motors has a distinct set of features to offer by making the most of the vehicle’s existing capabilities to the maximum degree possible.
Consumers are more likely to purchase things that are of higher quality and more utility than their competitors (Moore, 2007).
Methods for Promotion
In order to differentiate itself from the competition, British motors has implemented a variety of differentiation strategies, including the usage of seven unique product lines, the creation of limited edition cars, and the manufacturing of customized variants, to mention a few. Prior to the introduction of the British motors, many other nations, including as the United States, saw the brand as being too British in appearance and too weird to be adopted on a large scale. Today, the British motors brand is well-liked all around the world (Rundle-Thiele,, 2021).
Since BMW purchased British motors in 1994 and introduced the next generation of British motors in 2001, product universality has been achieved in all markets, a feat that took nearly two decades to accomplish. BMW purchased British motors in 1994 and introduced the next generation of British motors in 2001, a feat that took nearly two decades to accomplish (Chichirez,, 2018).
Customer targeted marketing
It is possible that British motors’s potential benefits are tied to the emotional value that it provides to its customers, according to Kotler (Chichirez,, 2018, p.82), because it contains “new strategies of separating the product from its competitors,” and British motors’s potential benefits are tied to the emotional value that it provides to its customers. As previously indicated, additional goods that contribute to the increase in value of a core product add value to the product as a whole, in line with the criteria set out in the preceding paragraph.
It is feasible for a product to have a variety of characteristics and technical capabilities if it is designed and constructed in an appropriate manner. In addition to these factors, there are a number of additional elements that might have an impact on the value of a company’s shares on the stock market. Yet, as Moore points out, one of the British motors’s most significant advantages is its low total cost of ownership, which makes it a good choice for families (2007).
This is in line with the fact that British motors’s exports have been steadily increasing since 2007 (justification #2), demonstrating to investors that the firm is on the right road. Introduced products go through four stages, according to a research published by the BMW Group in 2012. The first stage is growth, followed by maturity, and finally decline. Introduced items go through five stages: introduction, maturation, decline, and decommissioning.
The first step is to introduce oneself to the other person and explain why you are there. For the legal practice Boone and Kurtz, which is based in the United States, the term “Boone and Kurtz” refers to “Boone and Kurtz” (2010, p.363). As can be observed by looking at the product’s history, the British motors has never had a period of declining popularity during its existence.
BRITISH MOTORS suffered a momentary drop in brand awareness as a result of BMW’s branding strategy being implemented in 2001. However, British motors’s brand recognition recovered the next year, in 2002, and has since maintained its position.
International marketing
For the first time in the history of the automobile industry, British motors does not tailor its international marketing strategy to match the individual demands of different countries across the world. A significant challenge in manufacturing is the fact that different nations have different technical standards, for example, those in Europe against those in the United States.
This makes it difficult to modify things in a consistent manner. Following Amos’ expert advice, the current British motors edition has been changed to make it more internationally relevant than previous British motors editions, which represents a major improvement over the previous British motors editions. As Silas Amos has determined, this is consistent with his professional judgement (Marketing, 2011, p.18).
In contrast, pricing approaches that are exclusive to a particular market are determined by the market in which they are employed. Price variations across marketplaces, taxation constraints, and, most likely, distribution are all aspects that might be contributing to the disparity between the two countries’ economies. BRITISH MOTORS UK (2012) states that all British motorss are made in Oxford and sent to consumers all over the world, which helps to explain the significant price difference between the two variants.
It is interesting to note that, as shown by Table 1, prices are greatest in the United Kingdom, suggesting that this is a strategy to keep up with market trends. All of these conclusions are corroborated by the Consumer Prices Index (CPI), which in January 2011 was “116.9,” according to the Office for National Statistics, and “indicated that £116.90 could purchase the same amount of goods and services that £100.00 could have purchased in 2005.” Taking this into consideration helps to explain why living in the United Kingdom is so expensive.
Anyone worried about unethical business practices may learn a lot from Wal-Mart, which offers as an excellent example of how a company’s reputation can be damaged by engaging in unethical practices. As a result of Walmart’s aggressive pricing strategy, prices were slashed by an amazing 25 percent on average when the business entered the market in the early 1990s, according to some estimates. Moreover, Walmart is well-known for having cheap operating expenditures. It is as a result of this phenomena that salaries have fallen by an average of 5% every year during the course of this time period.
Poor wages and uninsured children were detected among the workers, in addition to horrible working conditions, violations of human rights, and unethical leadership, among other things, according to the report (Palmatier et al., 2021, pp.292-304). In the aftermath of the incident, the company’s brand was harmed, and revenues started to fall.
The firm’s senior executives were necessary, according to Wal-Mart, to build an ethical code and instill a sense of purpose in their respective work environments if the company was to achieve success. For organizations to prevent unethical behavior and the implications of unethical behavior, it is critical that ethical standards be instilled throughout their operations.
Task 3
Creative Innovation
A direct result of this, British motors has repositioned its marketing approach from one of “marketing an icon” to one of “selling a premium iconic cool car” in an attempt to better appeal to individuals of a younger generation. British motors, with the exception of the United States, employs a distinctive and creative marketing approach to sell its products in all other nations save the United States. Marketing strategies such as guerrilla and digital marketing, which are based on the most recent global trends, have shown to be the most effective in the marketplace because of their effectiveness.
To attract a younger client base through various online channels, such as their website and social media accounts, British motors makes use of digital marketing to urge people to purchase their product or service (Facebook, Twitter, and YouTube). Advertorials play an important role in British Motors’s digital marketing strategy, just as they do in the company’s traditional marketing efforts. British motors uses advertorials in both its digital marketing strategy and its traditional marketing operations.
If we talk about the British motors brand, it’s important to remember that the iconic connotations of the brand are what British Motors’s customers identify with it rather than the vehicle’s physical form. A consequence of this is that British motors has been unable to establish itself as an iconic brand in the eyes of American consumers, in spite of the fact that the firm has implemented a worldwide marketing plan to achieve this aim (see below).
Moreover, because British motors is a member of the BMW Group, the company’s ethics are crucial to the company’s relationship with the BMW Group, as well as to the company’s practices in the areas of corporate governance and risk management, among other things.
Even though it is important to the entire auto industry because of the link between emissions and pollution, it is particularly important to British motors because of the company’s sharp marketing strategy and the importance of adhering to ethical standards to avoid offending customers, employees, competitors, or anyone else who has an interest in the company’s operations.
Summary
Also included is a broad spectrum of marketing problems, allowing for investigation from both an academic and a practical perspective. The British motors may also be utilized in conjunction with academic reading and study in order to have a deeper understanding of the British motors from a business perspective.. The adoption of this strategy can aid in the further research and development of the subject matter now under discussion and is thus recommended.
References
Bernytė, S., 2018. Sustainability marketing communications based on consumer values and principles. Regional formation and development studies, (3), pp.26-35.
Chichirez, C.M. and Purcărea, V.L., 2018. Health marketing and behavioral change: a review of the literature. Journal of medicine and life, 11(1), p.15.
Dahl, D.W., Gorn, G.J. and Weinberg, C.B., 2018. Marketing, safer sex, and condom acquisition. In Social Marketing (pp. 169-185). Psychology Press.
Hopkins, C.D., Ferrell, O.C., Ferrell, L. and Hopkins, K.H., 2021. Changing Perceptions of Marketing Ethics and Social Responsibility in Principles of Marketing. Journal of Marketing Education, 43(2), pp.244-259.
Jobber, D. and Ellis-Chadwick, F., 2019. EBOOK: Principles and Practice of Marketing, 9e. McGraw Hill.
Kotler, P., Keller, K.L., Ang, S.H., Tan, C.T. and Leong, S.M., 2021. Marketing management: an Asian perspective.
Lerman, D. and Mejia, S., 2019. Positive Marketing, Virtue, and Happiness. The Routledge Handbook of Positive Communication, pp.151-159.
Palmatier, R.W. and Sridhar, S., 2020. Marketing strategy: Based on first principles and data analytics. Bloomsbury Publishing.
Rundle-Thiele, S., Dietrich, T. and Carins, J., 2021. CBE: A framework to guide the application of marketing to behavior change. Social Marketing Quarterly, 27(3), pp.175-194.
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