2. Executive
Summary
This marketing plan outlines the launch of Aston Martin’s newest car,
the DBX in Canada. It sets itself apart in the industry by being a
product predominantly targeted towards high-powered professional
women, as a new segment. Using sponsorships, PR, product
placement, print, radio and television, Internet and celebrity
endorsement, we will be targeting this growing market.
4. Situation Analysisston Martin offers high-
powered luxury cars for the
automotive market. Following
last year’s poorer financial
performance, as well as the emerging trends
within the automotive industry, it is crucial for
the company to adapt with the market and
capitalize on the established future consumer
requirements.
Due to developments in technology,
the brand is set to enter the high
performance electric car market with the all
new DBX model. This model is set to be
released in early 2016 and uses innovative
new technology, which will produce the
world's fastest electric sports car. With the
use of creative marketing techniques, and a
unique product placement, the car will be
positioned as a more practical alternative in
comparison to other models, and will cater to
the growing professional female market.
There is a demand in the market for a
luxury automobile that is predominantly
targeted towards high-income professional
women. Aston Martin will meet this demand
with the all-new DBX, which will compete
with existing Tesla and BMW i8 electric
vehicles, as well as various Mercedes and
Porsche models. Competition for the DBX will
not be confined to only electrical cars, as its
performance and ability will match that of
many conventional performance cars.
Canada is the ideal target market for this new
model, as the country has a stable economy,
has environmentally conscious values and is
in close proximity to the new DBX production
factory in Alabama. Therefore, Canada is a
viable location for this new model.
A
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5. Market Summary
& Target Market
ince Aston Martin was founded
in 1913, the company has sold
70,000 vehicles. Throughout
the past 102 years, women have only
represented 5% of sales
in the exclusive luxury
company (Clark ,2015). In
order to remain relevant
and keep up with current
trends, Aston Martin is
developing a new model
primarily targeting women.
According to the CEO, Andrew Palmer,
the new DBX model is aimed at a
fictitious female character named
Charlotte. She is a powerful professional,
working mother in her 30’s. Charlotte is
married to a high level professional, and
has children that are four and six years
old. She is an art enthusiast, avid
traveller and music lover. Palmer has a
created a detailed profile vision, and thus
the interior of the DBX is designed
specifically to cater to this new market.
This crossover combines the “shell of
safety” with
“flexibility and room for the children”
(Beissmann, 2015). Since the
company’s establishment, Aston Martin
has only sold 3,500 cars to women,
believing that the
crossover
vehicle is exactly what the
brand needs to increase
sales to women.
Aston Martin has no
exclusive dealerships
within Canada. Aston Martin vehicles are
only available for purchase at five luxury
dealerships located in Vancouver,
Toronto, Montreal, Calgary and Regina.
As these are the most densely
populated, metropolitan cities in the
country, Aston Martin has focused on
selling in these specific regions. Due to a
significant annual income in these cities,
affluent professionals are able to
purchase these luxury cars.
S
“… the new DBX
model is aimed at a
fictitious character
named Charlotte.”
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7. SWOT Analysis
Strengths:
1. Legacy: Aston Martin is an established
luxury brand that has been around for
102 years. A rich and prestigious
heritage defines Aston Martin as
something truly unique within automotive
history (Aston Martin, 2015). Its distinct
story and firm values is what connects
them to their customers.
2. Craftsmanship: The brand prides
themselves on the highest standard of
artistry. Every car is intricately detailed
with the same hand craftsmanship since
the company's inception. Many of the
original tools that were used to make the
cars in 1902, are still being used today
to service and restore them.
3. Strong Brand: Aston Martin has
developed a strong pop culture
presence through its partnership with
James Bond. Since 1964, Aston Martin
cars have been featured in James Bond
films and has “established itself as a
motoring movie star, an icon of style and
speed with a compelling air of mystery”
(Aston Martin, 2015).
Weaknesses:
1. Limited model range: Aston
Martin has a limited model range with
the lowest price point starting at
$140,000. With only four models, Aston
Martin caters to a select market, which
is not representative of today’s changing
demographic.
2. Narrowly defined market: The
luxury brand’s customer base has
always been middle-aged Caucasian
men between the ages of 50-64. With
the rise of multiculturalism in Canada
and the financial boom in Asia and the
United Arab Emirates, more people are
now able to afford luxury cars.
However, because Aston Martin is not
targeting these affluent markets, they
are lagging behind.
Continue… 4
8. Opportunities:
1. New Market Penetration: Aston
Martin sales have been decreasing from
7000 to 4000 vehicles in the past few
years. They need to reinvent themselves
and develop cars for new target markets.
They have the opportunity to appeal to
both a younger demographic and to
female customers. “No longer can Aston
Martin rely on the middle-aged enthusiast
who has been the mainstay of past
sales.” (Hotten, 2015)
2. Become a Public Company: If
Aston Martin were to go public, this
would ultimately generate capital that will
reduce debt that the company has. The
company would also be able to use
some of its capital to fund research and
development, develop long-term plans
and expand to new
markets. (Balasubramaniam, n.d.)
Threats:
1. Competition: Aston Martin’s main
competitor, Bentley, Ferrari and Porsche
are developing new products and
broadening their appeal to new
customers. They have developed more
family friendly cars with SUV models and
crossovers, attracting an extensive
customer base. High end luxury car
companies including Lamborghini,
Maserati, and Rolls Royce are all
developing their own SUV’s (Rooney,
2015)
2. Financial Cost: Aston Martin is a
privately owned company which could be
very expensive to maintain. Many
companies go public in order to obtain
external financing and to reduce debt.
Due to decrease in sales in the past
years, the company has relied on private
investors to step in and reduce their debt
(Hotten, 2015).
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9. Product
Offering
Fuel source: The DBX is a fully electric
luxury vehicle, and its technological
advances make it visually appealing for
consumers. According to Aston Martin,
the crossover concept is powered by a
series of on-board electric motors, with
juice courtesy of lithium-sulfur battery cells.
The DBX's carbon ceramic brakes will also
help boost the crossover GT's range by
recovering otherwise wasted braking
energy.
Engine: Embracing the very latest
engineering techniques and theories, the
DBX concept needs no engine
compartment thanks to its use of electric,
inboard-of-wheel, motors powered by
lithium sulphur cells. The DBX is an all-
wheel-drive EV, with individual electric
motors powering each of the wheels.
Capacity: Capable of accommodating
four adults comfortably, the DBX concept
also focuses on day-to-day practicality.
The unique vehicle includes front and rear
luggage compartments and an interior
with a flat floor. DBX has a two-door, four-
seat design that is sporty with large
wheels and elevated height.
Design: The brand uses only authentic
materials, and the concept for the exterior
of the vehicle is made of machined billet
aluminum, visible milling lines. This form of
craftsmanship is intended to be viewed as
the car’s “jewellery”. The DBX unique paint
finish – Black Pearl Chromium – has been
specially created to mimic the look of a
genuine black pearl, and comprises a
micro-fine layer of chrome to deliver a level
of reflectivity that cannot be obtained
through normal paint finishes.
Inside, the deliberate use of non-
automotive standard materials generates a
uniquely soft, cocooning ambience. The
extensive application of velvet-like nubuck
leather contrasts with the concept’s hard,
hi-tech equipment. The exposed leather
reveals a sandwiched accent layer, more
akin to high-end furniture, while the car’s
interior bright ware matches that of the
exterior with the addition of a gold ‘pin
striping’ element on the edging.
Active LED exterior lights, carbon
ceramic brakes with a kinetic energy
recovery system (KERS), and rear view
cameras in place of conventional mirrors
also underline the mould-breaking nature
of this luxury Grand Tourer concept.
6
10. DBX Concept
“The DBX Concept is a challenge to the existing status quo in the high luxury GT
segment. It envisages a world, perhaps a world not too far away, when luxury GT travel
is not only stylish and luxurious but also more practical, more family-friendly and more
environmentally responsible.”
- Andrew Palmer, CEO
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11. Channel
Strategy
For the new DBX model, Aston Martin will use channel partners to serve as distributors.
The company uses direct channels in other parts of the world, such as Europe. Aston Martin’s
small market share in Canada means that selling directly to the customer isn’t a viable option at
this time. Therefore, the use of partners and existing distributors will remain the preferred
distribution method for the DBX across the country.
Over time, Aston Martin’s channel strategy may be revised by adopting a direct channel
supply chain. However, measures will need to be put in place to ensure channel conflict does
not occur between various sales channels.
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12. Marketing
Objectives
The DBX is set to be an all-new model, therefore Aston Martin will be looking to achieve
several new objectives with the car. Over time, as the vehicle moves through the product life
cycle, the car will move from the introductory stage, to growth and then into maturity. As this
happens, the initial outlined objectives will change and develop accordingly to ensure a
prolonged life cycle that other Aston Martin models have achieved.
Below are the primary marketing objectives that Aston Martin will strive to achieve and
ensure strong sales growth for the DBX model in 2016.
OBJECTIVE
AREA
MARKETING OBJECTIVE
Enter a new market
Successfully position the DBX as a luxury performance hybrid
vehicle within the market, specifically targeting and attracting
professional women.
Improve brand and
product awareness
Increase annual number of visitors to company website from 3
million to 5 million by 2017 through developing a ground
breaking, creative and interactive online marketing campaign for
the DBX.
Successfully launch
new product
Use all available marketing tools to promote and educate
consumers about the new model prior to the launch of the DBX.
Sales growth
Achieve a 5% share of the luxury sports car market in Canada
and a 25% share of the electrical hybrid performance market in
Canada.
Gain advantage over
competitors
Reduce order lead time in Canada by 20% on other models due
to proximity of manufacturing the DBX in the U.S.
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13. Marketing Strategy
Advertisements for the new $1.8 million
Aston Martin coupe initially will not
discuss the car's top speed or
horsepower. Instead, they focus on the
fact that only 77 cars will be built. The
company will use scarcity to create a
demand for the vehicle by highlighting the
exclusivity and add urgency to launch a
new concept targeting women.
2. Concentrated Marketing: This
approach also known as niche marketing
which is effective to reach particular
market segments such as women in this
marketing plan. This approach is often
adopted by firms that either have limited
resources to fund their marketing
strategy, or wish to adopt a very
exclusive strategy in the market. Aston
Martin already uses this approach to
target high net worth individuals
interested in luxurious and high-
performance cars.
3. Inbound marketing: Focuses on
creating quality content that pulls people
towards the company at an earlier stage
in their buying decision. In the past, Aston
Martin had adopted this approach with
the introduction of the new ‘buyer
persona’ campaign.
4. Product Placement/Event: The
use of endorsements from celebrities that
mirror the target consumer will increase
brand awareness. Aston Martin has done
so in the past with launching new
vehicles in the James Bond films. The
DBX model will be displayed at event
featuring high net-worth females and
other corporate functions.
5. Database Marketing: Its pivotal in
the product development stage to
research potential target market
information and understand demand for
the product prior to the manufacturing.
An elite list of potential buyers will be
targeted on a one-to-one basis through
direct mail, email communications and
invites for the pre-launch gathering.
Database marketing will also be used
after the product has been launched to
contact potential buyers for test drives.
6. Tradeshow Marketing: High profile
auto shows and tradeshows will be used
for this product launch. This will be a
trademark launch and could possibly
work as an event strategy by Aston
Martin sponsoring booths and having a
VIP Lounge area at each show.
Scarcity Marketing:1.
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14. Mission Statement
For the high-powered affluent woman, Aston Martin
encompasses luxury, performance and allure among all other
elite cars based on 102 years of handcrafted excellence.
11
15. Marketing MixAs stated above, the objective of the marketing mix is to achieve a 5% share of the
luxury sports car market and a 25% share of the electric hybrid performance market in
Canada. The marketing communications mix will apply Aston Martin’s elegant design,
luxurious feel and standardized colours of black and grey across all mediums. As Aston Martin
is a distinguished brand, with only 70,000 cars sold in its entire existence, these car owners
hold an elite status in society as a whole. Using the following traditional and digital media,
Aston Martin will effectively reach its target market to launch the new DBX:
12
17. “If it wasn’t for James Bond, Aston
Martin would have died by now”
- Brian Murphy
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18. Financials
n 2014, Aston Martin posted a pre-
tax loss of 72 million British pounds,
which is almost triple the loss of last year
(De Burton, 2015). This is a result of a
defective part in one of the models in China.
This issue should be resolved by the time
the DBX is released. There has been an
increase of 150% in the automotive industry
since 2009, with no end in sight, leaving
room for Aston Martin to further expand (De
Burton, 2015). In 2013, the company sold
4,200 vehicles worldwide and last year
dropped to 3,500. However, numbers are
expected to rise with the re-entry into the
Chinese markets. As the DBX is exclusively
targeting women, Aston Martin should see
an increase in sales in the coming years.
The DBX is the only luxury vehicle that is
geared specifically for professional women,
allowing Aston Martin to be a temporary
monopoly in that market segment (Statistics
Canada, 2015).
I
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19. Contingency
Plans
ston Martin does not have
their own dealership in
Canada, instead sharing
space with other luxury brands such as
Rolls Royce and Bentley. This could be a
potential challenge, as the car sales
associates do not have any incentive to
specifically sell Aston Martin vehicles.
Instead, they may promote a competing
luxury brand to a potential customer (Brian
Murphy Interview, 2015). In order to prevent
this from happening and ensure brand
loyalty, sales associates throughout Canada
should receive an increased commission for
every DBX sold in the first three years.
Another potential obstacle Aston
Martin faces is from existing customers. The
DBX could possibly negatively impact the
brand’s image as it has only been marketed
to men in the past. Due to the structure
change of the vehicle, the newly designed
DBX might not appeal to existing Aston
Martin vehicle owners. To overcome this
issue, it is essential to position the model
strategically in men’s magazines and sports
television and radio channels.
A
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