Weaknesses (expensive car, brand preference lower than average, media cost are very high)
Opportunities (growing SUV market, rising incomes, stronger position than competitors)
Threats (rising fuel taxes, heavy tax costs, increasing competition low/high end segments)
Objectives and Issues Market share
Minimal a 10% market share
Become market leader
Lure adventurous drivers away
Measuring market share cost a lot of money
Dutch market smaller than other countries
Cut costs with the big competition
SMART Specific Land Rover is aiming at a market share of 10% in the SUV market and is trying to retain its leading position in the SUV market. Measurable This objective needs to be discussable. Market share can be compared with other companies. Customer–and dealer satisfaction is very important. We can measure it by researching growth coming from other Brands and loyalty of new car buyers. Achievable We presume that 10 % market share isn’t over predicted, because Land Rover already possesses 10 % at this particular moment. Realistic This objective is very relevant. It’s very important to check so that we can take action if our market share decreases. Time Based We are working in a three year timeframe. The concept model of the Range Stormer was introduced in January 2004 and we want to have a market share of 10% in 2006.
Objectives and Issues Return on investment
Check if the money is well spent
Reduce media costs
Support brand extension
Marketing returns are difficult to measure
Advertising impact are difficult to put in terms of money
SMART Specific It measures financial returns on Land Rover’s spending. Measurable Land Rover Nederland has full access to the international CRM data bases and programs that can be used for conquest acquisition and for sales satisfaction measurement via mail, Phone and or web and through the individual dealers. By these programs Land Rover can measure the intangible outcomes, which investments can create. Achievable We find it achievable to receive a per cent age of 20% back on the investments in 2006 Realistic This objective is very important to check, marketers must see if their money is well spent. Time Based We are working in a three year timeframe. In 2006 we expect to see a return on investment.
Objectives and Issues Sales
To achieve sales of:
2600 cars in 2004
2800 cars in 2005
3000 cars in 2006
Average price of a Range Stormer will be between between €62.000 and €82.000.
Sales targets are only predictions
SMART Specific It shows the sales expectations for the upcoming years. Measurable This is measurable. Its comparable with other years and companies. Achievable We find it achievable to sell the numbers of cars in 2004, 2005 and 2006. Realistic This objective is very important to check, without sales you won’t gain profit or get break-even. Time Based We are working in a three year timeframe. We have sales targets for each year until 2006.
Objectives and Issues Profit
Increase profit 5% each year
These are just forecasts
External factors are not taken into consideration
SMART Specific It shows the profit expectations for the upcoming years. Measurable This is measurable. It can be compared with other years to see if the company have gained more profitability. Achievable We find it achievable to gain a raise of 5% In profit each year. By brand extension we will generate more income. Realistic This objective is very important to check, without profit, the company isn’t improving and it is necessary to reinvest in Research and Development due to the big competition. Time Based We are working in a three year timeframe. We have profit targets for each year until 2006.
Objectives and Issues Planning
How are we going to achieve these objectives?
Extend promotional line to create more brand awareness
Create a customer base
Increase brand extension
Media is not the only tool to invest in
Marketing Strategy Main Strategy
Positioned strategy: ‘’more for same’’
Create strong customer relationships
Was shown in the current marketing situation
Marketing Strategy Marketing Mix: Product
Strength, space, comfortable & sensation
Product life cycle strategies:
Product Development: Development of the new product