Transcript Mini Cooper
Marketing Plan 2013 Mini Cooper Operational Marketing MSc Marketing Nov-22-2012 T2245816 N0466534 N0418996 N0406526 N0380947 Jing Lu (Laura) Irina Andreea Moise Padnaree Somsuksawad (Poi) Satita Srisahakarn (Lily) Yue Su Outline - Background of Mini Cooper - Competition and Market share - Vision, Mission and Objective - SWOT analysis and STP strategy of MINI Cooper - Marketing strategies of MINI Cooper - Reinforce brand image campaign - Conclusion Company Background - MINI was born in 1959 in United Kingdom and became an independent brand of BMW group in 1994 by SIR Alec Issigonis - Modern Mini Cooper introduced in 2001 with three engine options. - Different styles of wheels, colors and a convertible top option (BMW Group, 2009) Competitors and Market share Vision and Mission Vision - Uniqueness through diversity - Leadership - Taking Risk - Courteous • Mission “The MINI brand wins hearts and turns heads. MINI is refreshingly different: extroverted, spontaneous and in every respect something out of the ordinary”. (Mission Statement, Headquarters & Founders Facts About BMW Group Auto Makers: 2011) Objectives Increasing the market share in United Kingdom market by approximately 5% Improving 10% of the productivity by implementing a training program (internal resources development such as employee) in United Kingdom Achieving 50% customer awareness of our brand in target market in United Kingdom For this one year marketing plan that starts in January 2013, in United Kingdom, the expected budget is 30% of 2012 sales Market Audit SWOT Analysis Company Strength Weakness BMW MINI Unique design and image in the minds of customers Multiple customizable options available Fuel efficient A part of this strategy plan is to focus on Opportunities: the strengths of the brand, promote them • campaign. Increasing the market share in 12 months objective and make customer aware of them by creating the ‘reinforcing’ brand image Strong competition in the compact car segment has declined its market share as well as unique appeal The higher price because Mini is the premium car brand Positioning the brand as a premium brand fact that justifies the higher price Market Audit STP Analysis Segmentation Target Position “People looking for compact, small cars specially women”. “People looking for fun, adventure and mobility with ease of driving”. “British iconic brand with classic styling”. Shaikh (2012) Shaikh (2012) Shaikh (2012) Market Audit STP Analysis/ Positioning Brassington F, Pettitt S. 2006. Principles of Marketing. 4th edition. Pearson. Marketing growth strategy Market penetration - Reinforcing brand image - Keeping the current prices - Positioning as a premium brand - Creating a brand image advertising campaign Porter`s generic strategies Differentiation strategy - Best value: Customizability (wide variety of options) Fuel efficiency - Outstanding customer service: Improved customer service (process) by implementing the training program in terms of HR (employees offering, reliability, competence and proficiency in a friendly and quick response time manner). Marketing Mix Product -Premium car in a small car industry -Fuel efficient car - The different design represented by a classic style and modern interpretation - Limited edition (like special color and special pattern) for special festivals such as Volunteers’ day and Christmas day - MINI has been designed with the idea of an optimal recycling 10% of the plastic components are made with recycled material Marketing Mix Price - High price in a small car industry - Wide price range to different customers (£16,000~35,000) Marketing Mix Place - MINI showrooms - MINI dealer shop - BMW showrooms - The motor events such as motor expo. Marketing Mix Promotion - The advertising on TV and cinema -The activity on the website as customers can design their own car style using a creative tool - The membership for the Mini Fan Club ( keeping the customers connected and expand the news and promotions for them; gathering them together for different entertaining activities) - 5% discount for interior accessories when paying all of the amount in once Marketing Mix Promotion Marketing Mix Promotion One example of MINI Cooper’s TV advertisement showing one of the benefits of a small car like MINI. http://www.youtube.com/watch?v=chHpV2Hlt-k Reinforce brand image campaign - Reinforce the brand image- the concept of Fun, Style and Individuality (Differentiate potential Mini drivers from “other” drivers. Help them see themselves as better, kinder, more creative and fun-loving. That’s why they like a Mini) - Current prices( maintain prices but respond with non-price counter-attack- justify prices with advertising or enhanced service) - Positioning as a premium brand with that has as a competitive advantage the fuel efficiency and customizability Conclusion To conclude, this marketing plan targets the United Kingdom market, using the Market Penetration strategy. The main objective over one year period is to increase the market share and to increase the customers awareness of the brand. These objectives can be achieved by using marketing mix strategy and reinforce brand image campaign. We recommend that MINI Cooper should consider repositioning its brand in the long-term development. References BMW GROUP, 2009. 1959 – 2009. Fifty Years of MINI. Germany: MINI media information. SHAIKH, I., 2012. Available in www.mbaskool.com/brandguide/automobiles/4478mini-cooper.html . Access on 07/11/12. SRIBNYAK, O., 2012. Mini Cooper: Current Marketing Strategy, Digital Marketing Approach. The Brand & Ethical Values. KALLAYAKAN, P., 2010. Product strategy. Available in http://kallayakan.blogspot.co.uk/2010/07/mini-coopers-product-line.html. Access in 09/11/12. OXBRIDGE WRITERS, 2012. Pestle analysis for an automobile company. Available in www.oxbridgewriters.com/essays/management/pastle-analysis-for-an-automobilecompany.php . Access in 07/11/12 RASMUS, R., 2010. Valuation of BMW: finance and strategic analysis. Department of business studies. 3rd of May. Thank you for listening ! Q&A