Kia Soul - Positioning through Perceptual Map

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Kia Soul - Positioning through Perceptual Map (Group Project)
Marketing Analytics I Class at UC Berkeley Extension
Instructor: Stephan Sorger

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Kia Soul - Positioning through Perceptual Map

  1. 1. UC BERKELEY EXTENSION - MARKETING ANALYTICS I - STEPHAN SORGER - MAR 2014 Kia EV Alfonso Sanz Andressa Grams Eileen Sinnott Hristina Bencheva Nuria Cabezas Seiji Kano Positioning
  2. 2. Kia Soul EV first all electric KIA car Expected launch in US mid 2014 Price ~ $27,500 Competitive market of “green cars” PROBLEM STATEMENT
  3. 3. Kia Soul EV first all electric KIA car Expected launch in US mid 2014 Price ~ $27,500 Positioning success will be if we can find attributes that will distinguish the Kia Soul EV from the competitors in our target market. Competitive market of “green cars” How to position Kia Soul EV in the rapidly evolving and fast-growing marketplace for all electric vehicles? PROBLEM STATEMENT
  4. 4. MODEL SELECTION We will be using an attribute-based Perceptual Map model in order to assess the target market perception of competitors and gain insight into the viewpoints of the marketplace.
  5. 5. SOLUTION PROCESS SELECTION CRITERIA MARKET SURVEY SPREADSHEET GRAPHING SPREADSHEET FORMATTING MAP INTERPRETATION 1. Secondary Research 2. Primary Research 3. Insert data in spreadsheets 4. Data to graphics 5. Interpretation of the results
  6. 6. RESEARCH METHOD Sources SECONDARY RESEARCH • JD Power and Associates • KIA America • US Department of Energy • EV Tech • Top Speed • Autoblog • Green Cars Reports • Daily Finance • 2013 Fiat 500e Review • Electric Cars For Sale 2013 • Electric Drive Sales • Gizmag Automotive • BBC TopGear • CNET Chevrolet Volt • IEEE Xplore • The Charging Point • CNET Toyota Prius • CNET Kia Soul EV • Clean Technica • Business Green • CNBC
  7. 7. RESEARCH METHOD Sources SECONDARY RESEARCH • JD Power and Associates • KIA America • US Department of Energy • EV Tech • Top Speed • Autoblog • Green Cars Reports • Daily Finance • 2013 Fiat 500e Review • Electric Cars For Sale 2013 • Electric Drive Sales • Gizmag Automotive • BBC TopGear • CNET Chevrolet Volt • IEEE Xplore • The Charging Point • CNET Toyota Prius • CNET Kia Soul EV • Clean Technica • Business Green • CNBC PRIMARY RESEARCH We conducted a survey on a representative sample of our selected target market to determine how these criteria are perceived. • Survey Monkey • 1000 people
  8. 8. SECONDARY RESEARCH Miles Per Charge Charging Convenience Charging Time Horse Power Driving Style/Handling Incentives Design (Interior & Exterior) Price MOST IMPORTANT CAR CRITERIA
  9. 9. SECONDARY RESEARCH Miles Per Charge Charging Convenience Charging Time Horse Power Driving Style/Handling Incentives Design (Interior & Exterior) Price MOST IMPORTANT CAR CRITERIA TOYOTA PRIUS PLUG-IN TESLA MODEL S CHEVROLET VOLT NISSAN LEAF BIGGEST/MAIN COMPETITORS
  10. 10. NISSAN LEAF TOYOTA PRIUS PLUG-IN TESLA MODEL SCHEVROLET VOLT KIA SOUL EV MILES PER CHARGING CHARGING TIME HORSE POWER 76 miles 38 miles EV 11 miles EV 208 miles 120 miles 4 hours 7 hours 4 hours 10 hours 5 hours 143 hp 149 hp 98 hp 362 hp 109 hp $28,800 $27,145 $27,000 $69,900 $27,500 30% 24% 12% 18% - PRICES Business Insider MARKET SHARE Washington-based Electric Drive Association SECONDARY RESEARCH
  11. 11. NISSAN LEAF TOYOTA PRIUS PLUG-IN TESLA MODEL SCHEVROLET VOLT KIA SOUL EV MILES PER CHARGING CHARGING TIME HORSE POWER 76 miles 38 miles EV 11 miles EV 208 miles 120 miles 4 hours 7 hours 4 hours 10 hours 5 hours 143 hp 149 hp 98 hp 362 hp 109 hp $28,800 $27,145 $27,000 $69,900 $27,500 30% 24% 12% 18% - PRICES Business Insider • Nissan LEAF - it’s been around since 2010. • Chevrolet Volt - gas motor strictly to charge motor. • Toyota Prius Plug-In - best-selling, most-evolved hybrid. • Tesla Model S - top of the line. It’s priced like a top of the line car. THE 4 MOST POPULAR ELECTRIC CARS FOR SALE MARKET SHARE Washington-based Electric Drive Association SECONDARY RESEARCH
  12. 12. RESEARCH ANALYSIS TARGET MARKET Urban single men and women or women with families (as a second car), with a good credit score and environmental conscious. Between 24 - 45 years old, who use car everyday in a limited distance range.
  13. 13. RESEARCH ANALYSIS Tesla Model S Honda Prius Plug In Chevrolet Volt Nissan Leaf Kia Soul EV Charging Convenience 8.4 6.9 6.0 8.0 8.3 Charge Time 6.3 7.7 5.8 6.0 8.5 Design (Interior/Exterior) 9.1 6.4 5.4 6.6 8.0 Driving Style/Handling 9.1 7.6 6.3 7.5 6.1 Horse Power 9.0 6.3 6.8 5.6 6.0 Incentives 6.9 5.3 7.0 6.3 6.8 Price 3.9 6.9 6.4 6.4 6.0 Miles per Charge 8.0 7.1 6.1 7.8 5.5 Averages answers for all the criteria asked through the survey
  14. 14. USDperKWh 0.00 250.00 500.00 750.00 1,000.00 2010 2012 2014 2016 2018 2020 MARKET CALIBRATION EVI, global EV outlook, April 2013 BATTERY COST (10% VARIENCE) USD 300 KWh DEUTSCHE BANK ESTIMATED PRICE U.S. DOE DEVELOPMENT COSTS EV battery cost is trending downwards
  15. 15. NewVehicleSales 0 1000 2000 3000 4000 Months 0 2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 36 iMieV EV (Jul 2009) Volt PHEV (Dec 2010) LEAF EV (Dec 2010) Prius PHEV (Jan 2012) Prius HEV (Dec 1997) EVI, global EV outlook, April 2013 Trends show that Plug In Hybrid, and pure Electric vehicles are overtaking Hybrid sales MARKET CALIBRATION
  16. 16. MARKET CALIBRATION Energy.gov • BEV stealing market share from PHEV and HEV since 2010 • Advancement in battery tech and trends - (arrow) opportunities for BEV
  17. 17. CASE EXAMPLE NISSAN LEAF TOYOTA PRIUS PLUG-IN TESLA MODEL SCHEVROLET VOLT KIA SOUL EV CHARGING TIME 4 hours 7 hours 4 hours 10 hours 5 hours $28,800 $27,145 $27,000 $69,900 $27,500PRICES Business Insider Washington-based Electric Drive Association Secondary Research data used to build and understand the perceptual maps
  18. 18. CASE EXAMPLE CHARGING CONVENIENCE DESIGN PRICE CHARGE TIME TESLA MODEL S 8.4 9.1 3.9 6.3 TOYOTA PRIUS 6.9 6.4 6.9 7.7 CHEVROLET VOLT 6.0 5.4 6.4 5.8 NISSAL LEAF 8.0 6.6 6.4 6.0 KIA SOUL EV 8.3 8.0 6.0 8.5 Averages obtained for each criteria used build and understand the perceptual maps
  19. 19. KIA Soul EV Chevrolet Volt Tesla Model S Toyota Prius Nissan Leaf BEST PRICE POSSIBLE WORST PRICE POSSIBLE WORST DESIGN POSSIBLE BEST DESIGN POSSIBLE MODEL RESULTS PERCEPTUAL MAP FOR DESIGN PER PRICE
  20. 20. MODEL RESULTS KIA Soul EV Chevrolet Volt Tesla Model S Toyota Prius Nissan Leaf BEST CHARGING CONVENIENCE WORST DESIGN POSSIBLE BEST DESIGN POSSIBLE WORST CHARGING CONVENIENCE PERCEPTUAL MAP FOR DESIGN PER CHARGING CONVENIENCE
  21. 21. MODEL RESULTS KIA Soul EV Chervolet Volt Tesla S Toyota Prius Nissan Leaf BEST CHARGE TIME BEST DESIGN POSSIBLE WORST CHARGE TIME WORST DESIGN POSSIBLE PERCEPTUAL MAP FOR DESIGN PER CHARGE TIME
  22. 22. RESULTS INTERPRETATION • Kia Soul EV design, charging convenience, charge time edges out competitors in the same price range (Nissan, Volt, Prius) • KS EV target market has money to spend • KS EV target market are busy people, Moms and working city dwellers
  23. 23. CONCLUSION • KS EV quick charging/charging convenience will appeal to our busy customer target market • KS EV “individualistic” look will appeal to the young and trendy
  24. 24. CONCLUSION • KS EV quick charging/charging convenience will appeal to our busy customer target market • KS EV “individualistic” look will appeal to the young and trendy • Around 1-2% of the total vehicles sold are EV • However in the next 6 years, the EV market is predicted to grow at an CAGR of 19% • The Kia Soul EV while not a huge revenue generator initially will add to our overall brand appeal and keep us current in a growing technology trend
  25. 25. CONCLUSION Kia Soul EV “The Power to Surprise” “Quality vehicles for the young-at-heart”
  26. 26. THANK YOU

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