Advertising and promotional plan
This plan is for promotion of Glean Excel, one of the few emerging group of sports cars that combine human and self-driving. Owned by Taflin Plc, the luxury sports car has sensors that can scan the environment to about 1.5 kilometers away with the embedded software reacting accordingly; be it whether to speed, slow or stop with safety being a priority. It is estimated that the demand will be from luxury sports car buyers and from those who enjoy the safety and convenience of a self-driving car.
Taflin makes luxury sports cars and various auto parts. With the manufacture of a self-driving sports car that can allow a person to take control, the company is targetingpeople who would like a luxury sports carthat they can enjoy driving outdoors and who are assured by the safety and comfortoffered by a self-driven car. These aresportspeople, businesspeople and executives that include millennials, Generation Y and Generation X between 25-50 years old.
Product category
Glean Excel is the only one of the company’s brands with self-driving capabilities. There are plans to embed self-driving software in future models of the other brands which include an entry-level sports car and two luxury sports cars that target the premium market. Taflin cars are luxurious sports cars for people willing to pay for quality.
Technological designs, avant-garde design and safety make Taflin’s products stand out in the marketplace. Glean Excel captures the latest developments in technology, design and safety.
Glean Excel is a product at the introduction stage. It is one of two self-driven car brands existing today, with the other being the Tesla Model S.
Demographics and psychographic information
The demography targeted by the Glean Excel brand is people between 25-59 years old with a household income of over $120,000. The technological, racy stance of the car appeals mostly to males. The owner of a Glean Excel is likely to be a businessperson, an executive and or a sportsperson.
The typical owner of the Glean Excel will be an ambitious individual who likes to win. The bon vivant who appreciates motorsport and automobiles will also be attracted to the Glean Excel as will the technology geek. There will also be the elitist who is looking to add a unique sports car to their collection. Some will buy the Glean Excel to mark achievement(Zoeller, 2016).
Market segmentation
Customers can choose any of four cars that suit their market segment, currently starting with the 4C Coupe for the premium sports coupe segment to the Glean Excel for the super sports car segment.
Taflin offers the following four luxury sports cars to the four respective market segments.
- Taflin Coupe 4 – Premium sports coupe segment
- Taflin Intimate 10 – Premium sports sedan segment
- Taflin Glean – Super sports car segment
- Glean Excel – Premium self-driving super sports car segment
Through the Taflin Coupe 4 that sells at $35,000, Taflin captures its customers young. As their incomes increase, second buyers buy the Taflin Intimate 10 and then on to the Taflin Glean. The Glean Excel that will be retailing at $80,000 will be the ultimate car for self-actualization. It ensures that the company adopts a multi-segmented strategy ensuring reaching all the company’s various market segments(McDonald, 2012). Integrated messages about the company’s various car brands will ensure consistent communication about the technologically-savvy, luxurious, sporty Taflin brand.
Unique Selling Proposition
Taflin is renowned for practical technological innovation in the making of its sports cars and various auto parts. The company is a trendsetter in designing, automation and material use. This ensures its products are famous for their style, performance and safety.
Taflin evokes innovation, racing, ambition and prestige. Benefits associated with the company include performance, safety and success.
Competition
The main competitors of Taflin’s self-driven car are manufacturers of self-driven cars. These include Tesla and Google, with Apple joining the fray soon.
Other competitors of Glean Excel are premium models of luxurious sports car brands. They include cars made by Porsche, Audi, BMW, Mercedes and Ferrari. The Glean Excel is also similar to other luxury car brands from Bentley, Lamborghiniand Rolls Royce (Zoeller, 2016).
Promotion strategy
The promotion of Glean Excel will involve laying out a promotional strategy that involves a team with representatives from the marketing, production and administrationdepartments. The team will hold regular meetings to analyze the market with regard to the political, economic, social and technological factors that would impinge on promoting and selling the car. A SWOT analysis will also inform the team of the strengths to highlight and the opportunities to take as well as the weaknesses to stifle and the threats to anticipate(McDonald, 2012).
That Glean Excel is one of the pioneers of self-driving super sports car segment means that it will attract a lot of publicity when it is finally launched. The car will have simultaneous launches in New York, Los Angeles and Toronto. After two months it will also be launched worldwide in Berlin and Beijing.
Taflin is also to start participating in The NASCAR Premier Series, formerly known as the Sprint Cup Series but now renamed Monster Energy Cup Series. This will hasten brand equity growth in North America. The company will also look to participate in Formula One racing with a view to global awareness and appeal. Technological innovation will stand the company in good stead to perform well in these races.
Taflin will engage a brand ambassador to highlight its Glean Excel brand. This will be a famous actress whoappeals to the demographic group and is likely to positively influence their car buying pattern. The brand ambassador will promote the Glean Excel brand in the media: be it bought, owned or earned media(Zoeller, 2016).
The company will buy space on print, digital and social media to promote its newest brand. It will also highlight Glean Excel on its websites, social media accounts and on its publications. During the marketing campaigns, Taflin will also conduct market research from its audience to collect data that will help it optimize its marketing efforts.
Taflin distributes its products internationally with dealership in the world’s major cities. These channels will be used to distribute its latest car(Zoeller, 2016).
Budgeting
That Glean Excel is at the introduction stage of the lifecycle means that a lot of funds will be required in its marketing. Hence a bottom-up approach will be used so that the employees involved in the marketing mix can develop ideas and determine the needs for effective promotion. This will also enhance teamwork and collaboration (McDonald, 2012).
The team involved in the car’s promotion and budgeting will often meet with Taflin’s management to review the promotion budget and evaluate the effect of the promotion. This will include looking at the promotion ideas, resource availability and the company’s expectations.
The estimated promotion budget will include $500 million for racing, $200 million for advertising in the media, $5 million for the launches and $2 million for the brand ambassador.
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