Essay Sample on Car Selling Business Sector

Introduction

From the case study report, the car selling business sectors is going through a significant transformation. Different firms are putting in place all the appropriate strategies to ensure they remain competitive in the marketing market. The sector will change because of different factors that stakeholders are integrating into the sector; internet-based marketing is one of the factors. However, for the company to continue improving and remaining healthy in the selling market, different strategies must be employed. One primary strategy that the company can use as a competitive strategy in the car selling market is a functional improvement.

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Functional Enhancement

The company must focus on systematically and aggressively pursuing its functional enhancement beyond the firm's gates. The strategy significantly focuses on conspicuous opportunities. The conventional market networks have worked through substantial improvement prospects that operate through two primary functional paths: a reduction in costs and improving customer satisfaction. The firm management must understand that most care selling firms rely on the conventional approach because of their magnitude. However, it is essential to focus on functional improvements autonomously (Cherubini et al. 2015). The functional improvement strategy systematically integrates a collection of possibilities, therefore improving other single functions.

The strategy will force the firm to focus on reforming its philosophies by coordinating different organizational levels and groups that have disparate enticements. Functional improvement will also help the firm to manage complex and impose appropriate legalities. The functional improvement strategy focuses on reducing inventory expenses, leveraging its purchasing powers, managing the value of used-cars, unbundling used-car sales, and using the best practices in selling the cars. Reducing inventory costs focuses on cooperation between functional levels and manufacturers in pooling inventory in its regional centers. Leveraging the purchase powers will help the firm focus on capitalizing its economic scale in advertising, payroll management, financing, insurance, management personnel, and administration functions.

Promotion Factors

Any company's success in marketing relies on the marketing strategies that the firm puts in place and how the firm is using the strategy. Direct mailing involves delivering messages on different products and services through social media, mail, emails, and SMS campaigns. The method compels clients to immediately share their responses, enabling the firm to evaluate its position on the market and predict its performance. Branding is another critical product promotion strategy that the firm integrates into its marketing strategies (Cherubini et al. 2015)

Branding aims at maintaining the firm's image on the market and improving its reputation for quality products. Branding is critical in giving clients a visual image of what they should expect when deciding to make their purchases from the firm. Referral marketing works through word of mouth, and the firm can promote it by providing different incentives to its current clients, who then introduce their friends and families to the products. Another critical product promotion strategy is data marketing. The approach deal with the optimization of brand communication using client data. In data marketing, the firms must focus on predicting the need and desires of the clients. Furthermore, the data is used in predicting the future behavior of customers.

Conclusion

The information gathered through data marketing provides a significant insight that helps develop a personalized marketing approach to ensure ROI (return on investment). Loyalty programs deal with incentives that encourage customers to continue buying products from the firm. Another critical marketing strategy is personal selling that involves using people to conduct face-to-face marketing. The sellers engage in interactive marketing by relying on appearance, attitude, and specialist understanding. Sales promotions involve. Customers also required some element of persuasion for them to buy the product. When dealing with such a situation, the firm must employ sales promotion. Some clients prefer seeing the products before making their purchase. When dealing with such a situation, the firm should then focus on using a showroom location. When dealing with a product that requires more comprehensive physical marketing, it becomes hard for the firm to use some marketing strategies; the firm has to use sales team training in promoting their products. Advertising, public relations, and sponsorship are also essential in marketing.

References

Bennett, R., Kottasz, R., & Shaw, S. (2016). Factors potentially affecting the successful promotion of electric vehicles. Journal of Social Marketing.
https://doi.org/10.1108/JSOCM-08-2015-0059

Cherubini, S., Iasevoli, G., & Michelini, L. (2015). Product-service systems in the electric car industry: critical success factors in marketing. Journal of Cleaner Production, 97, 40-49.
https://doi.org/10.1016/j.jclepro.2014.02.042.