MRKT20052 Marketing Management And Digital Communications Essay.

The report will discuss in detail about the business plan of a super luxury car called as Pagani Huayra. The car is an Italian automobile and is a mid-engine sports car manufactured by the company called Pagani. The company has seen a lot of success in its past offering called with a name of Zonda and the base price for this product was €850,000. The name was after Huayara-tata which also means a Quenchua wind god. This car got begged the position of Hyper-car of the year in 2012 in magazines like Top Gear and received a lot of appreciation when it was tested by Richard Hammond on the show Top Gear (HINTERMANN, 2017). The care also beat all the fastest road car records on Top Gear Test Track by setting a record of 1:13.8.

Following are the step required in a marketing plan:

1. Situation analysis: this is first step of marketing plan where an overview of the situation existing in today’s time will be evaluated and it will set important benchmark as the company will adapt and further refine the plan in near future.
2. Target audience: this step will describe the target audience. Like for examples, in the report the target audience are high income group people and industrialists who can afford the car (Mulleví Pelfort, 2016).  
3. Goals: this step will set the company’s marketing goal for the next fiscal year. The important thing is to set the goal as realistic and measurable as possible that can be easily evaluated.
4. Tactics and strategies: this phase will establish the plan and it is important to take a lot of space in this section to provide an overview on marketing strategies and list of every corresponding tactics that will be employed to implement them.
5. Breakdown of budget: the last step is to plan a brief breakdown of the overall cost related with each of the tactics. The plan is to show at three trade shows every year and consist of the cost that can participate in the shows.

Following is SWOT analysis of Pagani Huayra: -

1. The model is a mix of sporty-ness and luxury combined which generally cannot be seen in any other kind of product.
2. Strong market position as well as brand equity
3. It is a very expensive product and come with limited availability which add uniqueness in the brand and brand value as it is taken as status symbol (Mulleví Pelfort, 2016).

1. Pagani Huayra has limited or no presence in emerging economies where the number of rich people are rising.
2. Since it comes under limited manufacturing which means that it can miss out of possible customers.

1. Pagani Huayra can carry the heritage as well as design and make it more environmental friendly automobile with electric or hybrid kinds of transmission.
2. It is important to form a strategy that targets all affluent class from all possible emerging economies (Ricca & Robins, 2012).
3. The company can also become a part of premium events by sponsoring it and increase the visibility of the brand.

1. People these days mainly preferring some environmental friendly cars and it can create problems for Pagani Huayra.
2. There is also increase in price of the fuel and government regulations are getting stricter.
3. There is rise in awareness as well as penetration in competing with many premium brands.

The car was built in 2004 and known as a high-performance sports car. It was associated with DaimlerChrysler but later they separated. The car contains seven hundred horse power with a twin turbo engine. The engine was specifically designed by Maybach-Motoebau Gmbh (Ricca & Robins, 2012).

The price of this car is $4.5 million. As per the reports, the car looks venomous and amazing. The vehicle come under very fast car with 6.5 litre and V12 engine that provides seven hundred and forty horsepower with five hundred and seven-pound feet torque.

The car is worth $3.4 million and the car also starred in the movie Fast and Furious 7. It was styled with jewellery encrusted headlights and have scissor like doors. The car is built on 3.7 litre with twin turbo that provides seven hundred and seventy horsepower with seven hundred and eight pounds of torque (Jafari, 2014).

The car is worth $3.4 million and has German machine wizardry. The car was introduced to mainly dominate the road and has 1200 horsepower capacity and could run with 254 miles per hour.

The aim of Pagani Huayra is establish as one of the greatest brand in automobile with great appeal worldwide. Th mission statement says that the company desires to become most successful in premium car category. At the same time, the company wants to reach the top of the list that will offer great amount of solace to come up with new and most innovative kind of product (Jafari, 2014).

Following are three marketing objectives:

1. To increase the sales worldwide.
2. To become number one in the competition
3. To make the position stronger by the end of 2017 by reaching more and more affluent people.

1. The company is planning to generate maximum revenue via advertising and tactics to increase visibility among target audience. The revenue goal for the company is to generate $25 million in sales during first six months of the launch.
2. The cost will be tracked on every step and right methods will be adopted to control the wastage so that Pagani Huayra can become more price competitive in marketplace (Bohnsack et al, 2014).
3. Profit: the profit projection is most important part of the revenue projection and the profit will be monitored along with revenue. Maximum profit means high number of sales and the company aims to do exactly that.

The Pagani Huayra was the one of the fastest car on the test track of Top Gear. The care beat the past record of 1:15:1 which was set by the car called Ariel Atom V8 in the year 2011. The car is among the hyper-cars and shares the space with cars like Aston Martin Vulcan, Bugatti Veyron 16.4 Super Sport, Pagani Zonda F and many other. The car is also unofficially much faster than the Le Ferrari. But in 2016, Pagani Huayra was beaten by McLaren 675LT (Ruff, 2015).

Pagani Huayra was officially came out with many pictures through a press release in 2011 and the official debut was at Geneva Auto Salon in the year 2011. The car also featured in the exclusive range of video rights for Pagani Huayra in 2011. It was exclusively part of Need for Speed in 2011. The car also become the part of Jalopnik in January edition for Forza Motorsports 4 along with other vehicles like Ford Pinto and many other.

The company is promoting itself with as a part of specific quality from them and are willing to pay extra for it. The company is also expected to provide some exclusivity since the car must not be part of the masses (Kolk & Tsang, 2017). Therefore, advertisement on TV are sleek and are part of high quality than other car advertisement where viewers are asked to apply the logic of the products. The advertisement will aim on the look, engine and the technology used by the car.

The car is obviously part of very high-priced product and has top of the mind positioning. Therefore, it is premium priced car. The car does not aim to possess by everyone as they are highly expensive as compared to other automobile and the image and technology.

The digital communication these days is the most powerful kind of medium primarily used to communicate with the consumers. The emergence of social network, Pagani Huayra can try to create a sturdy base on all platforms like Facebook, Twitter, YouTube and Instagram. To gain large audience on enable the company to advertise Pagani Huayra and try to gain appeal of affluent people across the world. Imagery plays a key characteristic of marketing specifically with the help of Instagram and Pin interest. Being a luxury car, Pagani Huayra associate with wealth and in turn with designer cloths which gives the brans a certain degree of exclusive features (Hanelt et al, 2015). Such factors make the brand highly desirable, specifically when the celebrities promote the brand.

1. Know the clients: the company will have to take effort in knowing customer who are also ideal customers.
2. Document the customer thinking and behaviour: particularly, the company must about the reason customers decide to buy which becomes the key reason for making the sales. If the path they think will be followed, one can easily replace the product right in front of them while taking decision (Nunes et al, 2016).
3. Creation of unique position strategy: what can be heard in today’s market is the simple message and it is important to recognize the biggest issue in the marketplace and then tell people how to deal with the issue and communicate in less time.
4. Action: it is important to act at right time and affirmations, meditation and visualization all work at one place when action is added in formula (Nunes et al, 2016).

Marketing plan must include following steps:

1. Establishment of values of indicators which can be the subject of right observation as well as calculation. It consists of market share, sales volume and rotation of stocks.
2. Deciding the level of tolerance in different ranges from planned set of values
3. Measurement of the values based on set indicators.
4. Comparing the planned values with actual values, to decide deviations and provide explanation associated with the cause or reason (Donnelly et al, 2017).
5. Formulating of the proposals to remove any kind of detected deviation or change of set of values associated with various indicators.

Kind of Controls in Implementing the Business Plan

The important kind of marketing control are discussed below:

1. Control of annual plan: this level is performed by middle level management with analysis of sales, market share and financial indicators and many more.
2. Profitability control: this activity is performed by marketing controller and covers profitability of the product, customer segments and many more (Donnelly et al, 2017).
3. Efficiency based control: it is performed by many marketing executives, as well as line manager and Human resource department.

Pagani Huayra is among the most powerful cars however, the primary differences is in the detail and anything that can be made lighter has been but not at the cost of performance and the kind of performance (Donnelly et al, 2017).

Bohnsack, R., Pinkse, J., & Kolk, A. (2014). Business models for sustainable technologies: Exploring business model evolution in the case of electric vehicles. Research Policy, 43(2), 284-300.

Donnelly, T., Begley, J., & Collis, C. (2017). The West Midlands automotive industry: the road downhill. Business History, 59(1), 56-74.

Hanelt, A., Piccinini, E., Gregory, R. W., Hildebrandt, B., & Kolbe, L. M. (2015). Digital Transformation of Primarily Physical Industries-Exploring the Impact of Digital Trends on Business Models of Automobile Manufacturers. In Wirtschaftsinformatik (pp. 1313-1327).

HINTERMANN, L. (2017). Pagani Huayra BC: the gearbox validation process.

Jafari, H. (2014). Investigation on epoxy resin yielding under pure hydrostatic stresses and a novel method to reduce microcracking(Doctoral dissertation, University of New Hampshire).

Kolk, A., & Tsang, S. (2017). Co-evolution in relation to small cars and sustainability in China: Interactions between central and local governments, and with business. Business & Society, 56(4), 576-616.

Mulleví Pelfort, D. (2016). Disseny i implementació d’un sistema de control d’un aleró (Bachelor's thesis, Universitat Politècnica de Catalunya).

Nunes, B., Bennett, D., & Shaw, D. (2016). Green operations strategy of a luxury car manufacturer. Technology Analysis & Strategic Management, 28(1), 24-39.

Ricca, M., & Robins, R. (2012). Meta-luxury: Brands and the Culture of Excellence. Springer.

Ruff, F. (2015). The advanced role of corporate foresight in innovation and strategic management—Reflections on practical experiences from the automotive industry. Technological Forecasting and Social Change, 101, 37-48.