Fluent Essays

The Milestone 3 paper will describe the marketing mix for your project, including product, promotion, distribution, and pricing. Paper length: 3-4 pp. not including title page and references.7 MARKETING PROBLEM: SITUATION ANALYSIS Marketing Problem: Situation Analysis School Course Title Student’s name: Instructor’s name: Introduction Tata motors limited is one of the largest automobile companies, which offers a wide range of passenger, commercial, and defense vehicles to its clients and customers. While founded in 1945, the company has formed a more comprehensive range of networks worldwide and it is divided into segments such as the hatchback, SUV, and sedan. The company aims at ensuring customers safety and comfort, and it faces a market problem in its reduced sales. Over the years, the company has incurred debts and uses a loan to finance its operations. Poor product positioning, marketing, and advertising strategies have impacted its sales including poor ratings by local dealers. This paper will indicate a situation analysis on the TATA Motors limited. The situation analysis shows the internal and external factors of the business, strengths and weaknesses, relative market shares, and the critical elements in the situational analysis. Strength of Tata Motors Tata Motors is one of the leading companies in the automobile industry. It is one of the most trusted brands and has high market penetration in Asia. Also, its great quality for customers’ satisfaction has given them a good potential for entering new markets; in most instances, the entering to new markets in Asia have been successful. The company provides repair services to a large consumer base, and offers expert service provisions, making it trusted and recognized. Tata Motors also has a highly diversified product portfolio – through innovation that enables the customers to have a wide range of products from which they can choose (Garg, 2019). Tata motors have a legacy that indicates a strong brand over the years and strives on ensuring that they build a strong brand portfolio. The company has created reliable suppliers and dealers – over the years, established an alliance with suppliers of raw material. Hence, it’s able to avoid challenges in raw material supplies. The company has built a strong relationship with the dealers who enable product and brand promotion. Weakness of Tata Motors Weakness help indicates where the company needs to work on and improve, the company various weaknesses which include its limited international presence compared vis-à-vis, other car manufacturers. Opportunity The company has various opportunities to expand in the automobile market, however, this would give the company an edge into entering the global market that will enable them to increase its competitiveness with its competitors. Social influences on consumer behavior and behavioral influences on organizational buying will allow for new markets, vibrant sales, and diversifying products to meet consumer’s needs. Threat The changes forces and threats that have impacted the Tata motors company include globalization, increased competition, technology, mergers aMARKETING OBJECTIVES AND STRATEGIES 1 Marketing Objectives and Strategies College Marketing Strategies Title Student’s name: Instructor’s name: Introduction TATA Motors is one of the leading automotive industries in India. It is nationally known for the production of cheap affordable cars. For instance, the TATA Nano is an example of the cheapest car in the world. However, TATA also produces some luxury cars such as the Jaguar, and land rover that is somehow famous (Garg, 2019). For this reason, TATA motors manufacture vehicles to satisfy the needs of its customers. Although the company is well known in some countries, the brand lacks international exposure. This is because the company has a limited marketing strategy and thus it is not among the famous automotive companies in the world. Marketing objectives Because successful marketing relies on understanding the nature of your product and defining a specific marketing objective, however, the first marketing objective would be to increase brand awareness up to 50\% within the USA base market. For over decades the US market has been the core for the automobile industry, so exploring the US market and creating brand awareness would go a long way to span the product life cycle. Also, producing good quality products that satisfy consumer wants and needs without ignoring their values might skyrocket sales and thus the decision on sale trend can be predicted. Marketing management believes that consumers that feel satisfied with a product or service, stand a chance of recommending anyone that comes his way seeking for same product or service. Also, there’s a great chance for the consumers to patronize the product or service. Conversely, if TATA Motor can adhere to this, then it appears that they are on the right trajectory to increase brand awareness within the US market. Also, expanding to a new market can be achieved by opening branches in a new geographic area. When a product is introduced into a new market with existing competitors, the marketing manager might consider offering promotions to attract consumers For example, the company can offer a discount card for gas and gasoline to TATA motors customers for six months. This will attract many individuals who will not want to miss such an offer. TATA motors can also offer an extended manufacturer warranty for its product. The next objective is the growth of the market share of TATA motors which is currently at 7.07\% (Grover, 2020). The comparison of a company to its competitors is done using the market share. Therefore, having a high market share can increase the number of customers who love the brand (Rana, 2019). Another objective is to diversify their products. Manufacturing different types of cars for different classes of people can ensure