The business idea is to start up a vehicle marketing firm. Vehicle marketing refers to operations of promoting the buying of automotive. The idea includes promoting vehicles, selling and delivering the vehicles to the buyers. For the first two years, the aim is to sell small vehicles before pooling sufficient capital to sell large vehicles such as trailers. The target population for the company will be the general population, but we will sell a few luxury vehicles with a dream to sell more luxury cars in the future. The sale of luxury vehicles targets higher-income demographics. The company's aim is to offer quality cars and offering the best services in the market.
Traditional Marketing Tools
Print advertisements will be used to reach high-income demographics that can be reached through printed materials. Newspapers and luxury magazines are an approach that the company will apply to reach a particular audience (Constantinides, 2006). Print advertising is cost-saving because it can be retained for long.
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Face to face approach which involves having potential customers visit our showrooms to see the various vehicles that we offer. The sales team will be actively involved in educating people about the various types and models of vehicles that we offer. Face to face meetings is important to build trust and confidence of the consumers to buy from us.
Broadcasting through the radio and television are traditional avenues that the company will explore to reach out to many people (Constantinides, 2006). For the company television advertisement will be applied to bring realism and authenticity to the automotive products because consumers will be able to see the type of vehicle the company sells. The approach is important because it can reach a large audience within a short time.
Referral marketing will play a key role in improving the sales of the company. World of the mouth is a traditional approach that involves spreading information about products and services. For the company to use this approach the focus will be to sell quality products and improve the experience of our customers through the best services. While customer needs are well met such customers are likely to remain loyal and spread information about the quality of services and goods received.
Online Tactics
Multiple inline marketing strategies will be used by the firm to capitalize on the large audience that is found online. Social media marketing is an active approach that the company will use to meet a large audience. Social media channels like Facebook, Twitter, Instagram, YouTube among others have a wide audience (Scott, 2015). Through posting vital images and videos of the product through social media will help in dispersing vital information of the product. D eveloping a company website where the information about the company and the various products that the company offers, company address and all vital information about the company is also provided. Content marketing is an approach that the company will consider. The use of blogs and e-books will be used to provide information about the various products and services that the company offers to the market.
Salesforce
The salesforce will be made up of four individuals at the moment but there is a projection that it will grow in the future with the expected projection in sales. The sales team will be trained to do more than just making sales as it is the link between the company and the customers. The four persons will be trained to handle customers, build relations and make sales of the vehicles.
Sales Process and Productivity
The aim of a sale process is to close the deal and increase sales in a given period of time. The sales process of a vehicle begins when contact between a potential buyer and a salesperson is made. Rapport building is done to create a relationship where the buyer and the seller get to know each other. The salesperson is required to ask qualifying questions. It is at this point that a salesperson asks about the needs of the potential buyer. The salesperson then proposes several solutions by suggesting the various options of vehicles that may meet the needs of the customer. The salesperson shows the value through a product demo. After a demonstration, the buyer is likely to ask questions or have some objections and the salespersons are required to address these objections. The salesperson is then supposed to close a deal by making sure that the customer has made a purchase. Then the salesperson is supposed to offer after-sales services a process known as onboarding. The salesperson is supposed to offer to follow up services by knowing how the unit purchased is faring and serving the customer. Any problems and challenges must be addressed.
Marketing Budget
The sales budget is at $ 500,000 because the company is still young and the sales are yet to hit a high.
Marketing tools | Budget ($) |
Traditional tools | |
Print advertising Radio advertising Tv advertising | 120,000 80,000 200,000 |
Online Marketing | |
Social media advertising Content marketing Creating and running a website | 60,000 5,000 35,000 |
Sales Projections
The projection for the company is to sell about a thousand vehicles in the first year. In the following years, the sales will be expected to grow by over a hundred percent before reaching maturity.
Reference
Constantinides, E. (2006). The marketing mix revisited: towards 21st-century marketing. Journal of marketing management , 22 (3-4), 407-438.
Scott, D. M. (2015). The New Rules of Marketing and PR.: How to Use Social Media, Online Video, Mobile Applications, Blogs, News Releases, and Viral Marketing to Reach Buyers Directly . John Wiley & Sons.
