Lotus Rental Cars Executive Summary Introduction Lotus Rental Car’s Chief Financial Officer is looking for ways to increase profits and the consumer base by adding alternative fuel vehicles to the Lotus fleet. With fuel costs continuously rising, the need for alternative fuel vehicles is more attractive to consumers as a source of lower fuel prices. This appeal is not only to the regular rental car user but for the ecological minded occasional driver as well. Ecology and fuel efficiency are the cause for more people to start shopping for hybrid vehicles. Vehicle manufacturers are able to increase revenue with the sales of hybrids while increasing production to keep up with the demand.
The better engineering of the mustang and its design to be lighter helps the car go at much faster speeds. Also the motor happens to be more efficient and it has a better combination of parts as well. Not to mention I personally have experienced the efficiency and speed the mustang has against the Camaro. In the overall prices, the 2013 mustang costs $22, 200 and the 2013 Camaro costs $23, 345 which is a $1,145 dollar difference. The mustang is also more appealing to my eyes and many who own them.
There is a very larger price difference between these two classes of cars. What your paying for in an economy car is to get you from point A to point B in a little bit of comfort. In a luxury car you are paying for performance, safety, more advanced technology, and superior design. These qualities are needed for the car to be considered good but they increase the drivers quality, comfort and luxury wherever they are driving. Many economy car companies attempt to replicate the look and feel of many luxury cars.
Thorr Motorcycles appeared exceptionally successful in its marketing attempt, which moved their higher end motorcycle models to the next grade. Thorr Motorcycles maintained a 40 percent market share because of iconic brand loyalty. For extended period, sales had decreased. This appeared largely because of constant changing market demographics that seemed characteristic of a
Allstate holds 10.5%, while GEICO is a close runner-up with 8.2%. These rankings suggest the truth, which is that both of these companies are aggressively competitive and versatile insurance carriers. While GEICO specializes in auto insurance, it offers an increasing array of products to compete with Allstate’s impressive product diversity. Currently, Allstate offers a far broader array of insurance products, which may be advantageous if you’re looking for a multiple insurance policies or multi-policy discounts. GEICO, on the other hand, currently specializes in automobiles, which could be a major benefit if auto insurance is the only thing you need.
Age and lifestyle are hand and glove to faithful CruiserThorr customers. The motorcycle conveys a message of status, power, timelessness, and masculinity that customers between 35 and 50 respond to most. Although the CruiserThorr appeals to all ages, the cost of the motorcycle causes consumers, younger than 35, to purchase economical alternatives from Thorr Motorcycles’ competitors. The perceptional map reveals that the CruiserThorr, although stylish and appeals to a particular lifestyle, no longer can compete with the pricing and service offerings of its competitors. Although the suggested marketing plan includes quality engineering as a key
Therefore, status symbols are very important. Companies worldwide manufacture status symbols because American consumers want them. In the summary of “Masters of Desire”, a Cadillac example was used as a status symbol. It was explained how the Cadillac fell behind in the European market for prestige cars but when they came out with advertisements for a new car called the Allante, they priced it as a top of the line Mercedes Benz automobile from Europe. Mercedes Benz was known for its luxury cars really well since the 1960’s.
The article, “The Parable of the Democracy of Goods”, by Roland Marchand states that by convincing middle class consumers of the desirability of the “best” products and then offering those products at an affordable price, the middle class can have those same luxuries. This Hyundai advertisement epitomizes the formula described in the article, “The Parable of the Democracy of Goods” by insinuating that its desirable to have a car that looks valuable, without having to pay the price tag. The big bold print on the top of this Hyundai advertisement reads, “Our new 3-door. It looks like a million but costs $995,005 less”. This is an excellent headline for an ad because it gets your attention, and gets the point across at the same time.
Macro environmental factors also played a crucial role in the sales of the Prius. Demographically, Toyota directed the vehicle towards the consumer who could afford to pay a higher ticket price for the fuel efficiency and environmental benefits. These well-educated consumers recognized the Prius as the front runner in the hybrid field, and were willing to pay top dollar (and in many cases above the asking price). Economics played a major role, as the price of fuel skyrocketed and consumers abandoned the full sized vehicles that
Along with the right advertising campaign and efficient R&D, Honda had become the dominant motorcycle brand in America. Company was changing Strategy according to situation or time changes, which was more flexible. Does the story told by the Honda executive in the (B) case differ from the one you expected after reading the (A) case? Yes. Honda (A) indicated a perfect deliberate Strategy.