Discuss about the Case study on KIA Motors Corporation
Marketing management is significant discipline of the organization that involves execution of methods, techniques and ways of procuring and systemizing the resources (Kotler and Mcdougall, 2016). The present work highlights the analysis of provided case study on KIA Motors Corporation which is in South Korea with 12 manufacturing and assembly. The purpose of current work is to understand the key steps taken by KIA as a part of its marketing management strategies.
Customer relationship management is about building up the bond between the customers and the organization. It is a way that appeals buyers in many ways in order to reach the target products to the customers. On the other way round, it is a way that enables supplier to know about the demand, need and desire of the customer through various prospectuses (Kotler and Mcdougall, 2016). From point of view of sellers, it involves assessing various ways of strengthen relationship that fosters long term connection in developing the buying and selling process in the market.
Getting involved with the customers is the one significant way that involves knowing about the will and need of the customers. Listen them is the second way that helps the buyer to assess the requirements of the customers and their expectations. Lastly, the level to demonstrate their capability and effectiveness of products and services in order to show the right need for the right choice.
Kia Motors UK has more than 166 dealerships which is build by its heritage process of delivering the values that it carries towards its customers. As per case study, it can be inferred that they strongly focuses on its marketing strategies that embarks the major arena of brand awareness (Cass and Julian, 2013). It demonstrates the capability of KIA to make its customers better understand with the product through very possible means. Through the promotion strategy that includes a new sponsorship in cricket and long-term partnerships in football and tennis shows the efforts of KIA in maintaining long term relationship with its customers.
As depicted from the provided case study, KIA does not have same level of heritage brand level in the entire world. It shows the Unique Selling proposition of the brand in itself. Along with the same, Customers are identified in terms of their need by enabling the process of research and development programs. In competition to its suppliers, KIA work on bringing new, fresh and dynamic things in the market place (Kotler, 2010). They have smart set of objective which highlights entry in various market segments. All means of promotion campaigns are floated that are selected wisely to make their target message reach to the customers. Thence, all the macro environmental factors such as customers, suppliers and competitors are well considered by KIA in order to serve effective and efficient capability in the market.
Targeting and Positioning
KIA is fourth largest in terms of its position establishment in the market. The reason behind gaining this commendable position lies in its targeting and positioning marketing strategies (Brooks and Simkin, 2012). Promotional means are well applied in order to stay ahead with the other competitors who are offering similar products in the market. For instance, as reveled from the provided case study, TV advertisement campaign that are promoted are inclusive of ‘small yet mighty’ cat for the new Picanto and the ‘future proof’ Kia cee'd, emphasizing the 7 year warranty. It is worth to notice that they never focus on targeting mass audience rather the specific group of customers are targeted in building value proposition and selling of desire product or car.
KIA has been successful in acquiring the remarkable positions in the market through the two major areas. They have established their position in the market by fulfilling the need of customers. For this, they acknowledge the factor that is majorly being considered by every buyer. High quality is demanded by every buyer when only products and services are reviewed (Blery and Sfetsiou, 2010). KIA made it its value proposition in analyzing the quality ways that can add standard to its car manufacturing and services. Secondly, great design of Kia cars is worked upon by the company. The major focus is given on heritage look and provisions. This aspect is unique in terms of competition as designs are hard to manage and develop by parallel and upper existing brands in the market.
Product: Since the inception of idea regarding what the product is about and will be developed is included under this head (Mason and Staude, 2012). KIA manages product marketing mix component by ensuring the need of right product. 7 years of unique selling proposition of the KIA is provided along with great designs. This is followed by high level of customer satisfaction and concerns.
Price: Another factor involves the costing that is accrued in selling the product to the buyer inclusive of profits and other inputs. It also involves strategy that is about applying better way of selling product in consideration to profit margins (Birtwistle, Nobbs and Fiorito, 2013). KIA manages price strategy by enabling competitive prices that provide an advantage over its competitors.
Promotion: This involves ways to attract and reach the target buyers. KIA is effective in using small group of mass audience in ensuring successful completion of its selling process (Marketing Mix – The Essential 7P’s To An Effective Online Marketing Strategy, 2013). From instance, as reveled from case study, they make use of a new sponsorship in cricket and long-term partnerships in football and tennis.
Marketing Mix Components
Place: This is about creating an arena where the process of marketing can be facilitated. KIA manages to use the option of dealerships. As mentioned in case study, they currently use 166 dealerships as a large and expanding number of outlets.
Differentiating is a way of adding features in the existing products with an objective to enhance better sales. In order to gain competitive advantage in the market, KIA uses strategy where major differentiation is created by focusing on planning aspect. They create group of small prospectus where all efforts are induced in knowing about their demand and requirement in connection with latest implication of styles and design patterns that are unique and heritage in style.
Positioning on the other hand refers to the way that enables the successful identification of respective product and service in the market place (Nessim, 2011). Need of customer is focused as they are where KIA works majorly. They position in consideration of undertaking quality and car designs as the major concerns. In lieu of the same, the manufacturing process is planned and customers are attracted.
Differentiated strategy is the kind where firm keeps major focus on developing promotional campaign among two or three market portions. In order to sell one key product, only two cities are considered which shows this type of strategy (Alexander, 2015).
Undifferentiated strategy on the other hand is the kind where no focus in put on any particular segment rather efforts are induced in reaching mass and ample of customers with no limitation.
Lastly, in contrast to above two, concentrated marketing strategy implied to pay attention on single audience where products and services are highly specific and significant (Principles of marketing, 2016). This generally includes luxury goods and concerns.
In my opinion, KIA should rely on concentrated targeting strategy as the price which are set to sell those cars are high which are actually not meant for every customers and mass. Thence, this type enables the seller to effectively locate and sell the cars. Therefore, it is effective and efficient.
From the above report it can be concluded that marketing is considered as one of the most crucial functions that marketing manager of an enterprise needs to carry out to sustain in the environment under which they operates their function. However, the report has also measures different environmental factors that mainly affect or influence the individual and businesses
Books and Journals
Alexander, N., 2015. UK retail expansion in North America and Europe: a strategic dilemma. Journal of Retailing and Consumer Services. 2(2). 75–82.
Birtwistle, G., Nobbs, K. and Fiorito, S. 2013. Buyer perceptions of quick response systems in fashion retailing. EAERCD Conference, Paris. 36(4). pp. 45-47.
Blery, E. and Sfetsiou, E., 2010. Marketing olive oil in Greece. British Food Journal. 110(11).pp.1150 – 1162.
Brooks, N. and Simkin, L., 2012. Judging marketing mix effectiveness. Marketing Intelligence & Planning. 30(5). pp.494 – 514.
Cass, A., and Julian, C., 2013. Examining firm and environmental influences on export marketing mix strategy and export performance of Australian exporters. European Journal of Marketing. 37(3/4). pp.366 – 384.
Kotler, P. and Mcdougall, G., 2016. Principles of marketing. Prentice Hall Canada.
Kotler, P., 2010. Principles for Marketing. 5 th Ed. Prentice Hall.
Martin, M. D., 2011. The entrepreneurial marketing mix. Qualitative Market Research: An International Journal. 12(4). pp.391 – 403.
Mason, B. R. and Staude, G., 2012. An exploration of marketing tactics for turbulent environments. Industrial Management & Data Systems. 109(2). pp.173 – 190.
Nessim, A., 2011. Consumer Behaviour, An Applied Approach.Prentice Hall.
Marketing Mix – The Essential 7P’s To An Effective Online Marketing Strategy. 2013. [Online]. Available through<https://marketingmix.co.uk/>. [Accessed on 25th April, 2017].
Principles of marketing. 2016. [Online]. Available through<https://www.marketingmixconferences.co.za/>. [Accessed on 25th April, 2017].
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