Marketing is the department of the organization which perform their operations in order to increase the brand awareness in the market. The present report is based on Bentley which perform their operations in UK. In this context, the report explain the marketing mix for the new products and marketing segmentation.
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Bentley is now focused on the smart cars so that people can save their time while they are travelling. For this, company uses the concept of high technological advancements and information technology. They can build a software which can respond to the crashes so opens the doors and stops the engine. Through the software, people have no need to drive the car as automates software handle the situation.
By implementing this feature company can enhance their growth in the market as well as they can create a number of customers. There are many competitors of the firm such as Rolls Roy. Now a days, customers needs are changing as per the lifestyle and their interest. So, company can introduce this new feature in the cars in order to attract number of customer towards their services. There are some people who are price sensitive will not be able to afford such car.
Segmentation, Targeting and Positioning
Segmentation is a technique that is used by the company in order to divide the market on the basis of geographical and demographic variables. Here, the organization can target people who are in the age between 20 to 35. People who are in this age they like to buy new innovative products so through this they can fulfil their demand. This smart feature in car will provide more benefits and safety to the customers as at the time of crashes doors will automatically open. Along with this, people who don't know how to drive they can purchase the car as there is in built feature in the software that car will drive automatically.
Product is the commodity that is consumed by the customers in order to fulfil their need. Here, car have some smart features so this can attract more customer. Pricing strategy is formulated by Bentley so that all people can buy the services. The car company can promote their services through social media such as facebook, twitter. Consumers can purchase the car from the companies website and their store.
When I was working in the group presentation then I have learnt many things from my group members. As everyone came with their own new ideas so through this we are able to present our topic. Along with this, team meeting conducted when any member get absent without informing others. Apart from this, I had face many problems while working in a team. Some of issues were related to the lateness of the members, equal contribution was not their from all the team members and conflicts were also occurred on selecting the matter on the topic.
From the above mentioned report it has been concluded that marketing strategies are necessary in order to increase the sales in the market. Along with this, manager of Bentley can use segmentation, targeting, positioning and marketing mix in order to improve their growth.
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