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Flying Car Company
Marketing Plan for The Flying Car
April 2014
Presented by:
Allison Rhodes
Alyssa Pacione
Quiaisha Dickerson
Zach Bishop
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Flying Car Company
Marketing Plan for The Flying Car
April 2014
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Purpose of Marketing Plan
The purpose of this marketing plan is to focus branding efforts on selling The Flying Car and
yielding a profit for our company. The information within this plan may be used to strengthen
the Flying Car Company brand image and to provide users with critical information regarding
the market and other factors that may affect the launch of this product.
Organization Mission Statement
We are a producer of the world’s first and finest flying car. Our mission is to create a new,
unique product to satisfy a demand previously unmet by other luxury product manufacturers. We
are constantly working to create innovative technology to continuously meet the market’s
growing demand for a cutting-edge luxury vehicle. Our materials meet the highest quality
standards and demonstrate extreme reliability and durability. Each product has completed
thorough and rigorous safety testing before being delivered to the customer to ensure its quality.
About our Product
The Flying Car Company is proposing the introduction of the world’s first commercial flying
car, which will simply be called The Flying Car. This vehicle will be a two door coupe that will
be offered with a variety of features that will be individually chosen by the customer. Some of
the customizable features would be color, paneling, interior, heads up displays, as well as many
others available. The car will possess both driving and flying capabilities, and can be converted
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between the two with a simple push of a button! The Flying Car will be equipped with two fuel
tanks, one for driving, one for flying. The first tank will be specifically for use of gasoline that
can be purchased as needed at a normal gas pump. The second will require jet fuel that can be
purchased through the Flying Car Company. The customer’s first purchase of jet fuel with our
company will be at a discounted price. If the customer is interested in having an account with us,
the car can be equipped with a computer chip feature that will automatically inform the Flying
Car Company when the jet fuel tank is low, and a new supply will be shipped out to the
customer’s place of residence for a fee. The car’s computer chip will also be programmed with a
tracking device so that if stolen, the car can easily be located and shut off until it is able to be
returned to its rightful owner.
How it Works
Our special team of engineers and mechanics have been working behind the scenes developing
the technology involved in the creation of this product for the past five years. Our patented
technology allows a seemingly ordinary luxury car to transform in a matter of seconds to a
vehicle capable of flying at altitudes comparable with private planes. Once the button on the
dashboard has been pressed, the jet fuel tank will be engaged and the tires will compress into the
bottom of the car allowing for a more streamlined flight as our air pressured engine begins to
initiate the process of flight. As this process begins, a radio signal will be sent out alerting other
aircrafts and nearby air traffic control of the car’s presence. The dashboard will also convert to
show the driver the location of other airborne vehicles and aircrafts. As a safety measure, the car
will not be able to engage in flight until predetermined conditions are met for safe flying.
Airspeed and weather conditions will be checked instantly through the onboard computer before
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the car will rise. Once the car is cleared for flight, it will rise to the appropriate cruising altitude
before the driver can move it in any direction. Since the average speed of a plane is 500mph, we
expect our vehicle to pilot at an average speed of 150 mph. Once this altitude is reached, the
driver has full control of the craft and has access to all radio signals and air traffic controllers that
would be relevant for safe travel in the area.
Target Market
Our target market will consist of a few hundred rich, affluent car enthusiasts looking for
specialty vehicles to show off their wealth. This segment of the market is looking for a unique
and expensive product, such as ours, that will act as a means of entertainment and a status
symbol for the very wealthy. Specifically, people in our target market may be looking to
differentiate themselves from their equally wealthy peers. Though other rich people may have
Ferraris or yachts, our consumers can say they have a truly new and different luxury car that few
others can say they own, while still maintaining their current status. We will reach our target
market by privately appealing to potential customers through luxury and vintage car auctions,
one-on-one salespeople, and ads in magazines, such as those for yacht clubs.
Advertising
As a result of our small and highly specified target market, our advertising strategies will need to
be oriented to our consumers. Since our consumers will be people of high wealth and status, we
want the way our product is marketed to mirror their image. We will go about this by advertising
The Flying Car at exclusive events geared towards affluent car enthusiasts such as luxury car
clubs, shows and auctions. Additionally we hope to have ad space in a few key magazines that
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cater to high-end clients interested in expensive products such as yachts or private jets. This way
we will be seen with our competitors and by doing so, generate interest in our vehicle in other
potential consumers that are in the market for making a large purchase. Lastly for the people that
we believe would be interested in The Flying Car, but maybe would not attend regular car
events, we also offer well informed salespeople that are willing to meet with potential customers
one-on-one in the comfort of their homes. This type of consumer would have heard about our
product in one of our previously described avenues or from word of mouth from their peers and
could set up a meeting with a representative from our company at their convenience so they
could acquire more information about our unique product.
Pricing
The price for each of our vehicles will cost between $15 and 30 million dollars. Each car will be
built specifically for the buyer which explains a high price and the potential variation in the price
range because of the level of customization available to the buyer. The base model will cost $15
million dollars and will have very limited customization options. There will be three additional
levels of customization, each allowing for greater control over the final product. Each level of
customization will increase the cost by $5 million dollars. Our prices will be based on our costs
and not demand because we plan to sell a small volume and must cover our high variable costs.
Distribution
Potential buyers may call our company to speak with a representative or set up a meeting with
one of our specialized salespeople to discuss the purchase of one of our cars. Potential buyers
may also want to meet several times to discuss the logistics of purchasing and owning one of
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these specialized vehicles as well as to discuss any customization preferences for their own
model. Our representatives are available to fly out to meet customers as needed or to arrange for
local representatives in the area to meet with them. We would ship the product from our factory
to the buyer’s place of residence for the customer’s convenience and specialized mechanics
could be flown out to work on the car if necessary in a day’s notice. There will be no outside
distributors, as our company is unique and the first of its kind.
Competitors
Our competitors include other luxury car brands such as Rolls Royce, Jaguar, Maserati, Bugatti,
Aston Martin, and Ferrari. Our car would also compete with other status symbols such as yachts,
private jets, islands, artwork, diamonds, rare books, and antiques. Some strengths of our
competitors are that most of the above listed companies have already been established in the
market for a long time, while the Flying Car Company has no current customers. Our company
would be taking some of their business away, and some customers may not be willing to leave a
more known or trusted brand. Also, other companies interested in producing flying vehicles may
eventually enter the market and present us with competition.
Current Financial Condition
Because The Flying Car is just now being introduced, we have no current sales on which to base
our current financial condition. We do, however, have the sales information from many of our
competitors available. Since The Flying Car is also a luxury vehicle, we have reason to believe
that our sales will receive similar growth to our competitors in the next several years, just on a
smaller scale due to our lower volumes of output.
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http://features.boats.com/boat-content/files/2011/05/spendinggraph.jpg
Through our research, we have discovered that other luxury vehicles, such as sports cars and
yachts, have increased their sales steadily over that past several years. The airline fees are
increase which is good for our new product. This would indicate to us that we could expect a
similar growth as the car and boat companies while expecting to do better than airline
companies.
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SWOT (Strengths, Weaknesses, Opportunities, Threats)
SWOT Analysis
Strengths ● high level of uniqueness
● high inelasticity
● no other competition that
specifically sells flying cars
● we know specifically what the
target market is looking for and
will market directly to them
rather than to the public or
common man
Weaknesses ● high productioncosts
● shipping could be expensive and
time consuming
● training and deployment of
mechanics could increase costs
significantly
Opportunities ● could offer promotional pilot’s
license to consumers
● productcan be advertised and
sold to people all over the world
● rich target market
Threats ● small target market
● in a few years time we could be
presented with competition from
other producers entering the
market
● the market isn’t very centralized
and is spread out across the
globe
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Strengths
The Flying Car is a unique product unlike any other on the market. There are no other companies
that sell flying vehicles for commercial use, so this product is the first of its kind. The product is
primarily targeted to rich, affluent people for which money is of little object. Because of this, the
price is highly inelastic, meaning that even if the price goes up, our sales will likely not decrease
very much. Since the market is so specific, we know how to market towards them rather than
marketing towards the entire population. This will allow us to cut down on some aspects of
advertising costs. This type of product has been anticipated in the past, therefore once it is
released we will have buyers ready to purchase our product.
Weaknesses
One weakness foreseen by the Flying Car Company would be the high production costs
associated with the development of the product. Our product will use high quality materials and
specialized mechanics and engineers to build each car. The car will also have unique features
selected by the customer purchasing the product. Due to the individual specifications, the costs
will likely increase significantly to create each car. Since the product is so expensive, the most
extreme measures will be taken to get it to its destination, which comes at another high cost.
Also, when the product needs to be serviced, specialized mechanics will need to be trained and
flown out to work on the car. There are various extra costs associated with this as well. Because
the market is not very centralized and is spread out across the entire globe, more will likely need
to be spent in order to have our advertisements reach all areas with possible consumers rather
than focusing it on one area in particular.
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Opportunities
One opportunity is that since the car will be sold for such a high price, it will be worth our efforts
to market to people all over the globe that would be willing to buy our product. We wouldn’t
have to focus our efforts to just one country or continent if there was a demand for our product
elsewhere, which we have reason to believe they would be. We could also offer a promotional
pilot’s license for those that purchase the cars.
Threats
One threat is the fact that the target market is so small, even if we do have access to the entire
globe. We would not be able to expand our efforts to a larger target market because most
audiences would not have the income to afford such a product. Another threat is that we will
likely not be able to lower the price even if the economy calls for it due to the high production
costs. We would not be able to offer it for a lower price until we are able to develop a cheaper
model. A potential future threat could be more producers entering the market and creating
competition. If that happens, however, we will have already established our brand and our
product, and will therefore be the most trusted producer of flying cars. We do not believe that
this competition will greatly harm our sales.
Conclusion
The Flying Car Company hopes to begin marketing and producing by 2015. We have already
had interest in our product expressed by several affluent consumers, which we hope will increase
awareness of our product. This gives us confidence in our potential sales because of the interest
already expressed. We give our customers various benefits such as a flying license,
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customization, and in-home installation, so not only are our customers receiving a flying car but
plenty of assists to make their car comfortable, secure, and durable. The desire of our company is
to meet the previously unmet demand for an innovative luxury vehicle. It is our duty to meet
these demands and bring something new to the market.
