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Marketing Management BSP022 Coursework Assignment Outline Marketing Plan Electric Cars By Stefano Goosey (B511976), Manuel Muessener (B516923), Victoria Hevey (B529622), Elizabeth Burchill (B529043), Johanna Jansson (B517391)

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Page 1: Marketing Management Coursework for Linkedin

Marketing Management BSP022 Coursework Assignment Outline Marketing Plan

Electric Cars

By Stefano Goosey (B511976), Manuel Muessener (B516923), Victoria Hevey (B529622), Elizabeth Burchill (B529043), Johanna Jansson (B517391)

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Contents

Section Pages

Part A 3

Part B 2.1 Background of the Company 4

2.2 Marketing Audit 5-6

2.3 SWOT Analysis 6-8

2.4 Marketing Objectives 8

2.5 Core Strategy 8-9

2.6 Marketing Mix 10-14

Reference List 15-16

Appendices 17-23

Part C Reflective Summary 24-28

Figure 1: BQM Logo 4

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1. Part A Under the umbrella of the BQM Group various products have been designed, manufactured

and delivered to satisfy the needs of our customers. BQM stands for British Quality Motors

mirroring our strengths and focus in the process of manufacturing vehicles. Our range of

cars has always been recognised as being of high quality and reliable in use. As a sign of

quality we always push our research standards and refuse to bring our cars on to the market

if they are not up to our standards. Furthermore, our vehicles have always been unique in

image and performance in order to build a strong brand appearance in each targeted

segment of the car market.

Since the early days of BQM, we have prided ourselves on innovative technology and our

focus on the sustainable development of our cars. As a company, we realised the

importance of electric vehicles a long time ago and had a steady development to finally

introduce our model after 40 years of research.

The Eden is our final outcome, testing and optimising the quality of our first electric vehicle

for our target market. The name is derived from our aim to offer the customer an escape

from the hustle and bustle of daily life. The Eden should be a place to feel safe, relax, and is

designed to give you the 360 degree experience of a car without any drawbacks of it being

electric. As Eden is a car for the whole family, everyone can be a part of the high quality

design (See Appendix 1 for full target audience). Due to these factors being considered in

our manufacturing process, we have created a model where our customers experience a

new side of BQM, whilst still maintaining the key values of our brand.

As a result, we are proud to release the high quality, all new electric hatchbacks that provide

next generation technology to welcome you to the purest of driving experiences. Combining

an exhilarating yet near-silent journey, on a full battery Eden will allow you to drive up to 200

miles and for those intent on longer journeys, our E-Range Extender would provide you with

a further 100 miles. Eden can reach speeds of up to 94mph and will accelerate from 0 - 60 in

7.0 seconds. Our fresh and natural looking interior combines Eden’s environmentally friendly

and sustainable materials with the aesthetic image of BQM. Our open-pore eucalyptus wood

nestling under our cutting edge Sat-Nav system adds to the 360 degree experience,

enabling a quality finish to our electric car.

Welcome to the next generation of British Quality Motors. Welcome to Eden.

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2. Part B

2.1 Background of the Company British Quality Motors Ltd (BQM) was founded in 1951 by a group of engineers in Coventry,

UK. BQM began manufacturing road vehicles for the mass market and the company soon

grew to create a wide and dynamic product range. BQM prides itself on being at the forefront

of technology and producing quality and reliable vehicles. Our brand is recognised worldwide

and we have a large presence in the European car market, yet we are aiming to be the

market leader of electric vehicles by 2020. For almost 40 years our highly trained staff have

been involved in innovating and investing in research and development to produce electric

vehicles which has now led BQM to the unveiling of our all-new electric car, Eden. Our logo

is discreet yet mirroring the prestigious history of the company and it has a high value of

brand recognition and embraces the feeling of driving a high quality vehicle.

Figure 1: BQM Logo

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2.2 Marketing Audit PESTLE From a political perspective the UK government has set aside an extra £200m to continue

the £5000 electric car grant they have previously offered until 2020 (GOV.UK, 2015). This

grant now involves a 3 tier system which favours Ultra Low Emissions Vehicles, geared

towards those with: zero emissions, a range of over 80 miles and CO2 emissions under

50g/km. This should contribute to a shift in the market, pushing people to buy electric cars.

The average disposable income for households in Britain was at its highest in 2014/15

(Tonkin, 2015), meaning people are more likely to spend money on latest innovations such

as electric cars. The overall cost of owning an electric vehicle over 6 years is lower than a

fossil fuel vehicle (Foster, 2014). Fossil fuel: 40 miles a day, 30 days of the month, 1200

miles a month, $192 a month. Nissan Leaf: $36 a month to take the same trips.

From a social and environmental perspective, consumer preferences are changing. The

increasing threat of global warming, the cost of fossil fuel and the depletion of global oil

reserves are all becoming an issue. This puts increasing pressure on car manufactures to

produce a cost effective, efficient and environmentally friendly car (Foster, 2014). Electric

vehicle advantages are obvious however many consumers still don’t believe in it. It is

thought the range is not high enough to satisfy needs and that electric cars are slow and

unattractive. Barriers to adoption need to be broken down through marketing. The

technology behind EV must keep up with the growing market. Consumers are demanding

more from manufacturers in regards to mile range, speed and charging time. Tesla’s 265

mile vehicle is a huge milestone, which all other manufactures must aim to keep up with in

order to remain competitive.

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Porter’s Five Forces The risk of new entrants in this market is relatively small as that requires very high start-up

cost and significant knowledge and know-how. There are also many constrictions to be met

considering safety and environmental restrictions as well as many already well-known,

established brands to compete with. Other means of transportation that are initially cheaper,

for example fuel and hybrid cars could be seen as potential substitutes, along with other

environmentally friendly and easy access alternatives such as bikes, buses and trains,

especially in a city environment.

There are many strong competitors on the market with fairly similar products, although not

identical, when it comes to price and technology. The level of differentiation is low, making it

important to have a strong brand in order to stand out.

2.3 SWOT Analysis

Strengths Weaknesses

1. Brand Reputation 1. Perceived High Prices

2. Innovative Technology 2. Strategic Alliances

3. Corporate Social Responsibility (CSR) 3. First Electric Car

4. Diverse Product Portfolio 4. Perceived Range Anxiety for EV’s

5. Environmentally Friendly Vehicles

Opportunities Threats

1. Falling Price of Electricity 1. High Competition

2. Government Support for Environmentally Friendly Vehicles

2. Increasing Costs of Raw Materials

3. Increasing Sales of Electric Cars in the UK 3. BQM not perceived to be Environmentally Friendly

Strengths

1. We are known to have a highly reputable brand and BQM was listed in Forbes’ Top

100 Most Valuable Brands in 2014.

2. BQM highly values its research, development and engineering capabilities. Together

with a highly skilled workforce, BQM is able to produce quality products with

innovative technology.

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3. BQM considers its commitment to the environment, well-being of employees and the

community as an important priority. We provide health care programmes for our staff

and implement strategies for waste reduction.

4. BQM has gained high revenue from the strategy of providing a wide a range of

products targeting a wide variety of segments whilst maintaining its policy of quality.

5. Our research and development capabilities allow us to consistently find new ways of

reducing CO2 emissions and as a result we can help protect the environment.

Weaknesses

1. Due to the quality of cars BQM produce, there is a perception that prices might be

high. We manufacture products that often require quality materials and a highly

skilled workforce that together produce quality products with low recalls and

contribute to the strong brand image.

2. BQM has very little alliances with other automotive companies which may restrict our

sales growth of electric cars due to our lack of existing market knowledge.

3. This is our first electric car on the market with a late entrance in 2016 compared to

our competitors.

4. Customers with little knowledge of Electric Vehicles may be unwilling to purchase these types of cars due to the low battery range.

Opportunities

1. The price of electricity is 20% lower than it was at the beginning of 2014 (Murray,

2015).

2. BQM prides itself on displaying a wide variety of products; however with the release

of our first electric vehicle we have been able to expand our portfolio.

3. Throughout the world national governments are introducing incentives for

environmentally friendly vehicles. In the UK, the Plug in Car-Grant has been

introduced to encourage consumers to purchase electric cars.

4. In 2014 there was a 44% rise in sales of electric cars (The Guardian, 2014) and with

them being relatively new products to the market, it can be expected that growth of

electric car sales will continue.

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Threats

1. BQM is under increased pressure from competitors as many consumers are attracted

by lower prices rather than differentiation between products. Alternatives on the

market of electric cars include the likes of Nissan, Toyota and BMW.

2. A survey carried out in February 2015 (Market Realist) concludes that raw materials

contribute to 47% of costs in the production and sales of an automobile. Increased

costs in this area will be a threat to the company resulting in lower profit margins.

3. As this is our first electric car, in the short term customers may be loyal to other manufacturers in terms of purchasing electric cars.

2.4 Marketing Objectives To set a specific and measurable marketing objective we will aim to gain 15% of the market

share in the UK electric car market within the next year. This would project us into a strong

position to reach our long term goal in becoming the number one EV manufacturer in the

UK. This percentage is based on statistical research carried out by Next Green Car (Oct.

2015) into sales of electric cars in the UK in previous years. Referring to our Opportunities

section in the SWOT analysis, sales of electric cars in the UK are expected to increase each

year as customers become aware of the environmentally and long-term benefits of electric

cars. Due to our well established brand and our long conducted product development this is

a challenging, yet achievable and realistic goal for the first year after our product launch.

2.5 Core Strategy

Product Life cycle

EV´s are positioned in the early growth stage of the product life cycle at the moment as the EV market is still increasing and new models, upgrades etc. come into the market. Ansoffs Matrix Using this model to assess our core strategy we are utilizing the theory of Product

Development (Ansoff, 1957) which is the development of new products for existing markets.

(See Appendix 2 for Ansoffs Matrix table). In the UK, the first fully electric cars were on the

market in 2013 with more and more car manufacturers producing these types of vehicles.

We have produced a diverse range of cars for over 50 years and Eden will become our first

all-electric car in the UK market.

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Competitive Advantage

In all facets of our business, BQM strives to show quality and reliability to give customers the

best experience possible. With the production of Eden we have combined low cost materials

whilst still maintaining excellent aesthetics which we believe has given us an advantage

compared to our competitors. Our highly trained staff and customer service are extremely

knowledgeable and able to help quickly and provide advice when necessary. Showrooms

are present in several UK Cities and Towns which are easily accessible to customers

meaning less travel time. We are confident that our extensive market research combined

with our brand quality will ensure that we have created the most comprehensive all-electric

in the UK.

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2.6 Marketing Mix (See Appendix 3 for analysis of additional three P’s) Product

Eden

We have maximised on our research and developed the most sophisticated electric car on

the market. Not only do our engineering capabilities contribute to the smoothest and most

pleasurable drive but our cutting edge technology allows for breath-taking features adding to

the high quality that Eden can accommodate. The Sat-Nav system is included as standard

and has the ability to locate charge points throughout the UK, giving drivers the ability to plan

their journeys effectively. It will also show drivers their contribution to maintaining low CO2

emissions.

Extras

These features are also included in the EdenGo mobile app where the cars battery level can

be monitored whenever, wherever. This is in conjunction with the Apple Watch app which

also offers a similar experience. The app cleverly allows the driver to communicate with

Eden on aspects such as journey planning in order to prepare the car temperature, for

example. An extra which can be added to Eden is the E-Range Extender, propelling drivers

to an additional 100 miles in comparison to our standard model. In partnership with

Chargemaster PLC, BQM enables Eden customers to access a large number of public

charge stations with the ChargeCard (can also be purchased with Apple Pay), which is free

to all Eden customers. This can loaded on a pay-as-you-go basis which can be topped up

online or via EdenGo.

Safety

BQM can assure customers of our reliability and dependability at all times. Eden has a fully

integrated airbag system which ensures optimum safety and customers are able to access

emergency assistance 24 hours a day and will be in touch with BQM service agents in

minutes. BQM is widely renowned for our high standards of safety and we regularly receive

a 5 star rating from EURO NCAP (See Appendix 4). Eden has an extended warranty of 9

years or 110.000 miles as standard to assure each customer of the long-term quality and

reliability of the car.

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Place

Distribution

Manufacturing takes place in our centralised location of Coventry which provides an

excellent platform of distribution to UK towns and cities. BQM has several storage facilities in

close proximity to our dealerships. The vast amount of BQM dealerships throughout the UK

will display Eden in showrooms with corners specifically dedicated to the car. BQM works on

a Business to Customer basis (B2C) where our dealerships directly sell to customers who

include individuals and company car schemes and the cars will be displayed immediately

upon release.

Logistics

BQM’s lean production model aids the supply chain and logistics process simply through

effective planning to ensure our customers’ requirements are met. Our highly trained staff

and advanced technology ensure fast delivery of vehicles from the point of order. A ‘just-in-

time’ production policy is used to reduce waste and inventory whilst our excellent transport

management guarantees vehicles will be delivered to dealerships in the required time.

Target area

We aim to place Eden in our showrooms and dealerships nationwide; however our main

target area will be focused on London and surrounding areas. The majority of our marketing

efforts and highlights in our showrooms will be displayed here, along with the Birmingham

area as our second economic hub. Showrooms in these areas will have an increased and

dedicated emphasis towards sales of Eden and customers can enjoy the full BQM

experience.

Promotion

The ‘Welcome to Eden’ promotional campaign aims to create engagement and to drive

forward the passion that we have manifested for our all-new electric car, aiming to share the

adventure with prospective consumers. The promotional campaign is extensive, with a

budget of £40 million, as BQM strives to be the go to brand when it comes to electric cars in

the future and believe a grand campaign at an early stage can help accomplish that (see

Appendix 5 for full cost breakdown). Six weeks prior to the release of Eden we shall be

holding multiple events on different days throughout the cities and suburban areas, taking advantage of the small geographic area and social media's ability to spread information

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within it. The event locations will feature “gardens of Eden” and strive to include the entire

family. There will be activities for children such as driving around in miniature versions of

Eden and parents will be able to see the launch of the car and speak to and be provided with

an insight from our vastly knowledgeable staff. This should both look and be spectacular to

obtain various social media feeds filled with our hashtag #WelcomeToEden, which people

will need to use to enter the competition to win a brand new car. People will even be able to

pre-order Eden itself and receive several incentives or sign up to email subscriptions for

further information.

Funding

In our alliance with Chargemaster PLC, one main promotional tool will be a funding scheme

where we provide one new rapid charge station (branded with our logo to increase

awareness) throughout the UK with every 50 purchased cars. This will, for example, help to

decrease the range anxiety of our potential customers by building a better network of

charging stations. As a result, this would raise awareness for BQM, connecting more people

to our brand and allowing them to become part of the success story of Eden while showing

Corporate Social Responsibility (CSR). Linked to our social media streams we will launch a

counter, where people can track the funded stations. Furthermore, there will be alerts and

announcements whenever we hit big numbers.

Social Media

In conjunction with our brand engagement, social media will play an enormous role in driving

interaction with prospective customers and to amplify Eden’s stature. Facebook, Twitter,

Instagram, Linkedin and YouTube will all feature news and articles regarding our new car

and people will be able to interact with the BQM brand before, during and after release (See

Appendix 6.1 for promotional campaign images). 79% of the UK population use these

platforms of social media with this figure likely to increase by 6% in the next year (Social

Media London, 2015).

Billboards

We will make full use of road billboards in large cities and suburbs such as London and

Birmingham where they will be easily visible and gain mass awareness. This will be an

effective use of targeting our audience through focusing on specific geographical locations

(See Appendix 6.2 for billboard example).

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Television and Radio

Our television adverts will heavily feature between the hours of 19:00 and 23:00 and be

specifically targeted to geographic regions where our target audience are based. ITV1 and

Channel 4 will display many of our adverts during popular shows and films which will gain a

mass audience. According to BARB (2015), on average these two channels gain 31,685

viewers per day and have 19.98% of the total share of television viewers. BBC’s Top Gear

will run a feature on electric cars with a specific focus on Eden in one of its episodes in 2016.

The show attracts a substantial audience worldwide, which is beneficial to promote Eden as

well as increase brand awareness. In terms of radio, we will be focused on the ‘drive time’

part of the day between the hours of 17:00 - 22:00 with a large focus on London based DAB

station talkSPORT.

Print Media

Articles will be displayed in magazines such as ‘AUTOCAR’ and ‘What Car?’ where motoring

journalists will test drive and review our electric car and can provide consumers with an

added and impartial insight to our car. Eden’s adverts with features on the car's specification

will be included in Sunday Newspapers such as The Telegraph and The Daily Mail. In the

UK over 10 million people aged 35 - 54 read these newspapers on a weekly basis

(Newsworks, 2015).

Sponsorship

Each year BQM is the official sponsor of the PGA Golf Championship in Wentworth, Surrey.

On the outskirts of London, the pillar event in May is a fantastic opportunity to promote our

brand and specifically Eden. The Golfing elite compete for one of the European Tour's

biggest prize purses and attract an enormous amount of fans. Sky Sports will be

broadcasting the four day event live, making it accessible to our target audience. Our logo

features on player interview and press conference billboards, along with caddy vests, flags

and hospitality tents. Competitions shall be held throughout the tournament for fans such as

the ‘longest drive’ challenge and winners can receive prestigious prizes. Eden will be the

official transportation car of the tournament (see Appendix 7 for image of sponsorship).

Internet advertising

Our online marketing campaign will exploit tools such as Google Ads and AdChoices to cater

to our target audiences search history. Adverts will appear on Google and people's social

media pages, meaning information and links to the BQM website and Eden page will be

more susceptible.

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Price A standard model of Eden starts at £29,999 inc. VAT including the UK Government discount

scheme (GOV.UK, 2015). Eden drives 200 miles on a full battery; however for £2500 extra

customers can purchase the E-Range Extender which guides drivers to a further 100 miles.

In addition, our funding partnership with Chargemaster PLC, enables Eden customers to

access a large number of public charge stations with the the ChargeCard (usable with Apple

Pay). This is free to all Eden customers and can be topped up online or via the EdenGo. A

public charge cable can be purchased for £125.

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References ANONYMOUS. 2015, National Readership Survey Market Overview: Readership. [online]. Newsworks, London. [Viewed 15/11/2015]. Available from: http://www.newsworks.org.uk/Market-Overview ANONYMOUS. 2015, Plug-in Car Grant. [online]. GOV.UK, London. [Viewed 04/11/2015]. Available from: https://www.gov.uk/government/publications/plug-in-car-grant ANONYMOUS. 2015, Weekly Viewing Summary. [online]. Broadcasters Audience Research Board. [Viewed 14/11/2015]. Available from: http://www.barb.co.uk/whats-new/weekly-viewing-summary?_s=4 Ansoff, I. (1957) ‘Strategies for Diversification’, Harvard Business Review, Sept.-Oct., 113-24 Doughty, S. (2013) Are you a precariat, new affluent worker or elite? Study reveals there are now SEVEN social classes in the new jargon-filled British class system. [online]. The Daily Mail, London. [Viewed 23/10/2015]. Available from: http://www.dailymail.co.uk/news/article-2303333/Great-British-Class-Survey-reveals-UK-7-social-classes-Are-precariat-new-affluent-worker-elite.html

Fleischmann, C. 2015, UK Digital, Social and Mobile Statistics for 2015 #smlondon. [online]. Social Media London, London. [Viewed 14/11/2015]. Available from: http://socialmedialondon.co.uk/digital-social-mobile-statistics-2015/ Foster, C, 2014. Electric cars the benefits and the barriers. [online]. Virgin. [viewed 20/11/2015]. Avaliable from: http://www.virgin.com/disruptors/electric-cars-the-benefits-and-the-barriers GOV.UK, 2015. Plug in car and van grants. [online]. Government Services. [viewed 24/11/2015]. Avaliable from: https://www.gov.uk/plug-in-car-van-grants/overview Kallstrom, H. 2015, Raw materials – the biggest cost driver in the auto industry. [online]. Market Realist, New York. [Viewed on 31/10/2015]. Available from: http://marketrealist.com/analysis/stock-analysis/consumer/autos-consumer-retail/charts/?featured_post=159585&featured_chart=203249 Lane, B. 2015, Electric car market statistics. [online]. Next Green Car, Bristol. [Viewed

10/11/2015]. Available from: http://www.nextgreencar.com/electric-cars/statistics/

Murray, M, 2015. Falling energy prices? This is the best way to take advantage… [online].

The Telegraph, London. [viewed 24/11/2015]. Available from:

http://www.telegraph.co.uk/finance/personalfinance/energy-bills/10970226/Bills-soar-by-up-

to-193-how-to-beat-the-rise.html

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Nichols, W. (2014) UK electric car sales surge in 2014. [online]. The Guardian, London. [Viewed 19/11/15]. Available from: http://www.theguardian.com/environment/2014/oct/07/uk-electric-car-sales-surge-in-2014 Tonkin, R, (2015). Nowcasting household income in the UK: Financial year ending 2015. [online]. Office for National Statistics. [viewed 24/11/15]. Available from: http://www.ons.gov.uk/ons/dcp171778_421593.pdf

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Appendices Appendix 1- Full Target audience BQM Eden’s target audience:

- Families with children. - Ages 35 - 55 Male and Female - Mainly based in locations such as London and Birmingham and surrounding towns. - Those who are highly educated, middle class with disposable income. - Will stay up to date with current news and events and be active on social media

platforms. - Need a car for everyday use such as dropping children to school, shopping etc. - Enjoy doing things together as a family such as: day trips, holidays, sports etc. - Be environmentally aware and may invest in an electric car to save money in the long

run. In addition, would be aware of the impact that their individual actions have and may want to be a role model for children.

Appendix 1 (Doughty, 2013).

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Appendix 2- Ansoff’s Matrix Table

Markets

Existing New

Existing Market Penetration or Expansion

Market Development

Products

New/Related Product Development

Enter New Markets

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Appendix 3 - Analysis of Additional three P’s

Physical Environment

In our well known car venues in and around London various dealerships in Suburban and

London central areas, Eden will receive a special corner to highlight the product and will be

surrounded by natural items like little plants and warm, friendly yet classic colours.

People

In order to provide our customers with the best service experience we will have pre-launch

product trainings with all of our salesmen along with test drive opportunities in order to

provide our salesmen with first-hand experience and a founded knowledge of our new

product. This is key to our product as we are well known for our service and high quality of

our vehicles. We believe that salesmen can only serve our customers’ right if they know

exactly what they are selling. The customer service process will be supported by several

dates where BQM technology representatives will be present at events, dealerships and

other venues to talk about the Eden and invite people to test drive the car. All of this will be

under our hashtag #WelcomeToEden.

Process

Delivery of cars can be arranged for new customers to get an exclusive offer to pick up their

car in our factory and experience the BQM world and wonder through our heritage and

history.

Appendix 4

1. Euro NCAP is the European New Car Assessment Programme which assesses vehicle safety. The rating system is highly regarded and supported by the European Commission.

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Appendix 5 - Full Cost Breakdown

Promotion Type Cost Timing

Billboards £2.5 million ● 6 week period - before, during & after

Television £5 million ● 5 adverts a day, 7 days a week

● 6 week period - before, during & after

Radio £1.5 million ● 10 adverts a day, 5 days a week

● 6 week period - before, during & after

Print Media £30,000 ● 6 week period - before, during & after

Sponsorship of Golf £15 million ● 4 day event

Internet Advertising & Social Media

£1.5 million ● Ongoing after release

Chargemaster Funding £5000 per unit-total spent depend on sales

● First 6 months then reviewed

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Appendix 6 6.1 - Promotional Campaign Images

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6.2 - Billboard Example

Appendix 7 - Image of Sponsorship An Byeong-hun - The winner of the 2015 BQM PGA Championship at Wentworth Club, Surrey.

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Name: Manuel Muessener, B516923

Role in Team Joint Team Leader

Contributions to team report:

I took an active role as one of the team leaders and responsibility for

scheduling meetings, leading team discussions and further assign tasks to

each group member. In terms of the written report I helped to establish a

consistent writing style.

In terms of the written report, I contributed by creating ideas for the car logo,

writing parts of Part A and the Marketing Mix. Moreover, I conducted research

at most stages of the report, especially on the electric car markets and took

initiative to find marketing ideas to promote our product.

Things you found valuable about working in a team:

Every team member has its strength and weaknesses. To identify how every

member can contribute to the assignment in the best way, was a valuable

experience and enriched our overall outcome of the marketing plan.

Further, distributing the workload in equal parts and learns how to make every

team member feel heard and valuable to the team was a good experience.

Things you found challenging about working in a team:

Sometimes it was difficult to implement the ideas and thoughts of each team

member. Scheduling meetings that suit everyone was challenging from time to

time as well.

The most important thing you have learnt about team working:

Communication was probably the most important thing. In every aspect

communication was crucial no matter if it was in the context of scheduling

meetings, the right tone in group discussions, lead conversations to final

decisions or make every team member have the same right to be heard.