BSB42415 Marketing and Communication Sample Assignment

Research Methodology (10 Marks):

I have selected the Primary Research and Secondary Research option to conduct the market research. Primary Research has the total control on the procedure and the research is streamlines to the extent of its objectives and scope is concerned.

Primary Research for the most part gather information specifically from unique sources. Data is gathered direct through studies,surveys,interview, meetings, and conversing with clients and different organizations, we can observe the information at the on real time basis the scene where accumulation of information is going on. In this manner, we can be sure that the recorded information is a true impression of the real world.

The research can be formal as well informal and can help to find our clients' needs , the way our business can enhance, what are the strengths and weaknesses and what options and practices different organizations are utilizing.

The primary research we are using is email surveys and questionnaires.

To the improve the obligation of the research I will utilize Secondary Research like internal Secondary Data comprising of data accumulated from inside the client databases and report from past primary research, external Secondary Data comprising of data assembled from government measurement and data media sources.

Tools for data collection (attach survey questionnaires in appendix) (10 Marks):

I will create polls and questionnaire from Survey Monkey and convey through email, social media like Facebook and Google Plus and existing clients to make utilization of checklist and rating scales. This will provide assistance to simply and measure individuals' practices, qualities that we are searching to do the examination of our new electric automobile.

Data Analysis and Report (10 Marks):

The Survey conducted will provide data and information that 36% of the Australian respondents consider the price tag of an Electric Vehicle (EV) important. Moreover, an aggregate of 38% of the respondents expressed they would think about buying a reasonable Electric Vehicle, while just 12% expressed not to buy an EV by any stretch of the imagination. As per 35% of the respondents, the general utilization of EVs in Australian would be successful at a similar price tag of EVs with regular vehicles.However, as many as, 25% of the respondents don't think of buying EVs in the general acknowledgment as far as fuel still is moderate and affordable.

The polls conducted also showed that consumers are more price-sensitive when choosing Electric vehicles than when choosing conventional fuel vehicles.

The information gathered demonstrates that the major share of respondents would not pay a premium price for an EV over a traditional vehicle. Subsequently, keeping in mind the end goal to make EVs more cost-aggressive with traditional vehicles, the battery cost need to be subsidized by the businesses or the government. Also, factor for example, financing costs, and government incentives m and quality appraisals has great significance for purchasers while purchasing another vehicle.

Product Details (10 Marks):

Product features

Toyota electric auto Bolt flawlessly coordinates with the high torque of a battery-controlled New lithium-ion battery and also give 320-480km of range for each charge.

Cell phone and Key card opening, it utilizes short range radio-frequency identification signal to communicate with the automobile. Utilizing the key card can authorise the cell phone, enabling it to speak with the 'Bolts' by means of Bluetooth. You can control certain feature with mobile phone, including the entryway locks and starting the car. You should keep a card in wallet or handbag on the off chance mobile turns off.

Modern interior

The Smart seat configuration gives space to extend for everyone in the car. Colourful dual Multi-Information Display with adjustable screens and accessible 11.6 touch screen show. With accessible Qi-perfect wireless cell phone charging.

Reliability

Auto Express' reliability evaluations are based on their Driver Power study of more than 30,000 Car owner. The Rating is are the same for all proprietors of the Car.

Individual owner's evaluations and Comments.

Toyota electric auto Bolts rating is somewhat of a Driver Power rollercoaster ride, in 2012 where at ninth place, then plunge to 26th, then increase to seventh, and now down to a low of 36th position in 2018. However, 36th place is far from disastrous performance, Bolts owner's rated the quality, running expenses and simplicity of driving all exceptionally, making it a wonderful ownership experience.

Affordability

Toyota hopes to have the most affordable electric auto available when it start the Bolts campaign one month from now. The Bolts will introduce the Toyota's eminent electric innovation to different type of purchasers at more affordable cost. The $45,000 Bolt's is the best-priced auto electric car.

How consumer will get benefited from the product

The Bolts has been made tough to drive in any terrain, making it easy to drive in difficult situation. The Hi-tech system can control itself at the time of emergency

Bolts can travel out up to 480km out in a single solitary charge and the battery is additionally equipped for enduring 8 years and can travel in excess of 160, 000 km all through the battery life duration.

More space for basic need, baggage, and so on. Electric motor is designed essentially distribute power from one engine to every wheel, which they could perform separately. Hence, Bolts is an increasing speed in time has the highest best speed, which, can be accomplished the target effortlessly.

Electric autos clearly are without any carbon emission since it runs totally on electric power. It is additionally easy and cost effective to refill, either charge it at Toyota charging station (for nothing out of pocket) or at home by personal charging station which is available in carport. By driving, Bolts will decrease both air contamination and noise pollution, hence saves the earth and saves the cash.

The unique selling point of the product

The $45,000 price of the best-priced, smart and hi- tech electric car like Smartphone and Key card unlocking, Modern interior and distinctive styling, with sharp angle and a sleek silhouette. A comprehensive safety package includes auto braking as standard.

Product Analysis (5 Marks):

Strength

Toyota's greatest leverage is the immense quality of the product. The Vehicles made by the organization are strong and dependable, and the evidence of their strong quality is the statistic which expresses that about 80% of all Toyota sold in 20 years are still on the streets today.

Exquisite interiors and revolutionarily outlined exterior.

Weakness

The danger of a decline in its potential insurances claims and reputation because of genuine security embarrassments. In 2014, Toyota reviewed and recalled 6.5 mln vehicles worldwide to settle an assortment of issues, including broken steering wheels and seats.

High maintenance cost being electric vehicle and marginally high cost when contrasted with oil variations is also a main issue.

Competition Analysis (10 Marks):

Strategies to differentiate product from competitor’s product (5 Marks):

The procedure will be used to strive to be focused through a blend of value and evaluating. We will built high quality and affordable value boards that could rival any of the costly brands; at that point, which will be sold specifically to the client. We will use high quality of customer service benefits which will make our business grow on the basis of quality and value point.

Tools of communication and giving the information:

The Marketing communication through internet plays an important role. We will use non-verbal communication like email, which will be sent to potential buyers and will enables buyers to purchase through the automatic response online which would include a downloadable e-brochure. All advertisements will bear the automatic web address to make it easy for buyers to find it. Besides that, print adverts will be placed in quality newspapers especially those newspapers with weekend car editions such as The Daily Telegraph, The Australian etc.

Segment Market (10 Marks):

Importance of segmentation.

We believe that market segmentation is essential for us as it will allow us to focus our resources and expertise toward a specific target to improve the product and to get a competitive edge we are segmenting the market based on the following strategies/segmentation:

Price segmentation

This group of consumers will typically spend a little bit more on their motor vehicle purchase. They are looking for technically advanced cars that have the latest features, as well as higher quality finishes throughout.

Demographic segmentation

The consumers (private buyers) are the most important segment in the market. The consumer's age is between 30 to 50 years old. They could be either male or female. The family lifecycle is that they are likely to be married with children. They are educated adults who know the effect of electric cars to the environment. The income level of the costumers is to be seekers ($4376-$10,941) and strivers ($10,941-$21882). Therefore they are in upper middle class and have occupations that of high managerial or professional positions. Hence they not only are prepared to purchase an environment friendly car but they can also pay high go the comfort and future cost saving from the car.

Psychographic/ life style

The first one is the early adopters and technology pioneers these people are the one who are interested in the latest technology who are the first-runners who want to own the latest invention. The second type are the people who are environment friendly they are the one who recognize the global warming situation the pollution and the impact of motoring industry on them. They would like to do something about it by buying an environment friendly car. The third types of customer are the customers who are looking for the ideal combination of low-maintenance cost car in the long run and the highly economized fuel consumption at an affordable price.

Develop Market Positioning (10 Marks):

Toyota is existing brand and was the first successful mass produce the hybrid car on the market, Toyota gain a large portion of the market share in the area of electric car. Therefore Bolts positions itself not only as echo-friendly but also as a lifestyle with a practical way of travelling in the city with latest technology and smooth ride promoting huge safe on fuel.

Global warming affects us all and it is very clear that we should all change our sources of energy from carbon fuel power to electrical power. Electric cars are the car of the future, we saw this market niche a business opportunity and another position for the Bolts.

Toyota Bolts created high-quality and affordable price boards that could compete with any of the expensive brands; then, we sold them directly to the customer. We’ve followed up with great customer service, and our business is growing based on the quality of our product and our favourable price point.

Identify Target Market (10 Marks):

Profile Target Customer (5 Marks):