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Submitted by Janice73 on November 22, 2006
Category: Business
Words: 652 | Pages: 3
Views: 250
Popularity Rank: 56,431
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1.1 Target Market
The target market is those
From the age of 17 to 30 as the car is more attractive to new drivers and a younger audience. A super mini is easier to drive and moreover offers a cheaper insurance.
Who are looking for a non-family orientated car as it is smaller in size and not appropriate for many passengers.
Who focus on the style and fashion of the car rather than the practicality.
With a middle class income as the price will be slightly above average due to its extra features.
1.2 Product Offering
The product Tiatro motors plc offers is a super mini automobile as it is the most successful type of automobile in Italy and therefore there is a high market potential. The features that it will include and their costs are mentioned in the appendix. These were chosen as they are common in all super minis and on top of that, the few extras enable the product to stand out in the market.
1.3 Pricing Strategies
Tiatro motors plc will follow a premium pricing strategy initially as the car is of a high quality and so it is possible to charge more. From this, Tiatro motors plc have chosen to use market-skimming pricing for the new product in order to skim the maximum revenues layer by layer from the target market segments willing to pay this high price. Fewer sales will be made but these lower sales will still be profitable.
1.4 Promotional strategies
Tiatro motors plc will have a $3 million budget and divide this appropriately between the five mediums.
- 45% will be used for TV advertising. The aim is to invest in few, high quality TV adverts and prime time slots so that a greater percentage of the target market will view the ads.
- 30% will be used for outdoor advertising. It will be most effective investing mainly in billboards, situated in the major cities in Italy.
- 15% will be used in press advertising. The target...
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