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This Publication Is The Marketing Plan For Volkswagen, Including Analysis and Research of Volkswagen
This Publication Is The Marketing Plan For Volkswagen, Including Analysis and Research of Volkswagen
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This publication is the Marketing Plan for Volkswagen, including analysis and
research of Volkswagen.
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Executive Summary
Volkswagen Group is a German multinational automotive manufacturing company
headquartered in Wolfsburg, Germany (Jurevicius, 2013). Founded in 1937 but only began
production in 1945 after being converted from an armament factory (Volkswagen, 2016).
Volkswagen’s perennial top sellers worldwide include the Jetta and Golf models (Forbes, 2016).
By May 2015, Volkswagen has 119 production facilities across 31 countries, and sells its
vehicles in 153 countries (Volkswagen, 2015). As of May 2015, it has 592,586 employees
producing 41,000 cars worldwide every weekday (Volkswagen, 2014). In the same year it
generated a net income of $268.55 billion US dollars and a market capitalization of $126 billion
US dollars (Forbes, 2015). Their immense growth has led to an industry ranking in both 2nd in the
world and in Singapore, in sales and market share (Volkswagen, 2016).
The purpose of this plan focuses towards generating greater brand awareness, gaining a larger
market presence to achieve higher sales-revenue. Through market research and data from interim
and investor reports, it aims to retain and increase customers, generate greater sales and profit
margins.
The following will be elaborated in the tables presented in this plan. Figures shown are based on
predictions of the next three years attainable by meeting the objective of being customer focused.
Procuring new customers and retaining existing customers would be essential in the process of
improving its positioning while reducing competition and increasing sales.
An analysis of the intrinsic and extrinsic conditions that impact the organization would first be
analyzed, followed by a marketing mix to spur growth and bran repositioning and finally
financial forecast will be projected with evaluative tools to evaluate the effectiveness of plans
and monitor them.
With the implementation of the proposed marketing strategies, Volkswagen can expect to see an
increase in local market share and brand equity. Therefore, leading to a greater success in its
revenue growth and enhanced positioning.
1.0 Introduction of Volkswagen Group
Volkswagen Group Singapore is an automobile retailer, and has two dealerships which offers
sales and service facilities (Volkswagen Singapore, 2016). This plan focuses on the Volkswagen
Golf model and the reason is because Singapore is more of a sedan car market, leaving the
hatchback Golf unable to match-up and compete with competitors sedans (Leow, 2016).
In 2015, it was ranked 7th in terms of sales in Singapore, whilst managing to clinch 2nd spot in the
overall car group rankings (Focus2move, 2015). This analysis will analyze the internal and
external environment of the organization, the firm’s capabilities, customers, and business
environment in order to generate strategies to outdo their competition in Singapore. This retains
and increases customer base, resulting in increased profits and company equity in Singapore.
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2.1.1 Economic
The different economic factors hold a significant impact onto the automobile industry. The lack
of control over these factors affects the way Volkswagen operates. Additionally, consumer
demand and behavior in managing income are affected by these factors. This affects the
organisation’s profitability:
Prices of Commodities (E.g Oil, Steel)
Changes in Interest Rates
Economic Growth
Changes in Disposable Income
Fluctuations in Exchange Rate
Level of Unemployment
Inflation Rate
Today, Volkswagen has different subsidiaries within its portfolio (such as Ford, Lamborghini,
etc.) serving the different segments in Singapore. Thus it is imperative to position the Golf to
meet the needs and capture majority of the Singapore car market.
2.1.2 Technological
Innovations from R&D have brought about advancements in the technological landscape. These
advancements have provided opportunities to redesign and improve the production process and
the operating infrastructure. This brings about improved product quality, greater efficiency and
lower associated costs. These technological trends includes:
R&D Creates Alternative Sources of Fuel (Electricity, Hydrogen, Fuel Cells, Hybrid Power
Cars)
Improved Technology Reduces CO2 Emissions
Automation and Technology (E.g Web procumbent technologies, JIT Management, advanced
logistics software) Increases Production Efficiency and Lowers Cost
Integration of Internet-Enabled Technologies in Automobiles e.g. GPS
Shift towards Driverless Technology
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2.1.3 Political & Legal
The government has imposed strict regulations when it comes to trade, environment impact and
incentives to buy cars. These legal implications poses limitations that stifles the business
environment in Singapore (Agalawa, 2009), and affects consumer behavior. These include:
Import Laws poses limitations on the import of certain automobiles and components
Government Tax (e.g. ERP and COE) to limit number of cars on road
Tax Rebates for environmentally-friendly vehicles
Penalty for Carbon Surcharge
Vehicle Emissions Standard
This applies to the recent Volkswagen emission scandal, which has a negative impact on
Volkswagen’s brand equity. Volkswagen sales in Singapore have dropped to 7th position from
the previous position of 2nd (Leow, 2016).
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five players (including Volkswagen) occupying 49% of the global automobile market (Adam,
2014). Whereas the large players occupy a large market share, the industry is highly fragmented.
Volkswagen and its competitors (Toyota, Honda, etc.) compete for local market share and resort
to competitive pricing (Volkswagen, 2015). Additionally, the Volkswagen Golf competes in the
hatchback market with competitor hatchback models from Toyota, Mazda and Honda (Navoda,
2012). Whereas brand loyalty produces a certain level of consistent sales and mitigates the threat
of competitor products to a certain extent, the low costs of switching to competitor brands
combined with number of competitors creates a high intensity of rivalry.
Competitors who also design similar hatchback models in the market (In Singapore):
Toyota
Honda
Mercedes
Mazda
BMW
Due to the similarity in the designs and specifications of the Golf against other competitors,
buyers are not limited to a few choices of cars. The availability of competitor cars combined with
the low cost of switching brands, provides buyers with high bargaining power.
However, cars are not the only means of transportation; with public transportation an alternative.
Cars are considered ‘luxury’ transportation modes, and the influence of buyers is divided across
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the fragmented market. As no single group of buyers hold significant influence on products sold
and pricing levels. As a result, this factor moderates the bargaining power of buyers.
Additionally, brand equity is an important point of differentiation given the high involvement
nature of automobiles. Many automobile brands with Volkswagen included, are generally well
established in Singapore, and possess a degree of brand loyalty. Thus, the high barriers of entry,
strong brand recognition, established market share across different segments provides
Volkswagen with competitive advantages over new entrants.
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financial ability. As a result, the threat of substitutes is dependent on economic stability, thus it is
identified to be relatively moderate.
Opportunities Threats
Consumer Preference Towards ‘Green’ Fluctuation of Fuel Prices
Vehicles
External
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run, there are plenty who resent using. Part of this resentment has to do with the prestige that a
car brings in Singaporean culture, where the socially prevalent goal is to attain the "5 Cs": car,
condo, cash, credit card, and country club (Kirk, 2013). With that in mind, cars are highly
desirable in Singapore. This makes pricing and value the most vital factors when it comes to
selecting a car (Woo, 2007).
Demographics Geographic
Age: 25-50 Years Old Lives in Singapore
Employment: 80.5% Employed Total Car Market: 550, 000
Marital Status: 22.2% Single/Divorced Total Market: 56, 000 (10%)
Education: 32.3% Degree Holders Target Market: 10, 000 (1.8%)
Mean Income: SGD $4,001 (<50th Percentile)
Psychographic Behavioral
Values Familiar and Established Brands Vehicle is a Necessity (Need)
Conscious About Image High Usage of Vehicle on a Daily Basis
Long-Term Orientation Value-Conscious
Travel and Sports Enthusiasts, Familiar With Conducts Pre-Purchase Research Online
F1
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According to figures from LTA (2016), vehicle sales for 2016 are expected to reach 56, 000
vehicles. Based on hatchback sales data and increasing popularity of hatchback models over the
past two years, the target market is estimated to consist of 10, 000 (LTA, 2015).
As the Volkswagen Golf is not the lowest priced car in the market, the average buyer is between
25-50 years old, single/divorced, owns a degree, and earns a stable income of at least SGD
$4,001 to be able to afford this car (MOM, 2015).
The target consumer views a car as a necessity for daily transportation, and is most likely to be a
travel and sports enthusiast (Hawksford, 2016). The average buyer is also familiar with Formula
One, and is likely to be updated with sports news regularly. In addition, he/she is relatively
expressive and conscious about societal acceptance over his/her image portrayal. As a result,
he/she desires the familiarity of established brands.
Lastly, the buyer is careful when making decisions, with long-term value important to the
individual. As a result, these buyers are likely to conduct post purchase research online, prior to
the purchase decision.
4.1 Positioning
Based on the analysis conducted of Volkswagen and its competitors, we identified the following
key attributes the target market seeks: 1) Long-Term Value, and 2) Sporty Image.
Long-Term Value is derived from both the point of purchase, in addition to operating cost (from
fuel-efficiency). This provides greater emotional benefit in terms of post-purchase satisfaction.
We recommend that Volkswagen be positioned accordingly as compared to its competitors:
Toyota Yaris, BMW 1 Series, Hyundai Accent, Mazda 3, Honda Fit (Refer to Figure 1.0 & 2.0).
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Value-Repositioning
Figure 2.0: Recommended Position within Hatchback Market (VW)
High Quality
BMW
VW
Toyota Honda
Low High
Price Mazda Price
Hyundai
Low Quality
Under the recommended positioning strategy, Volkswagen will be positioned as the premier
hatchback in terms of perceived value (Figure 2.0). Greater value positioning is created from
improving quality whilst at a constant price level. The Golf will be differentiated over
competitors by being positioned closely with competitors (e.g Mazda, Honda), to invite direct
value comparison.
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Image-Repositioning
Figure 3.0: Recommended Position within Hatchback Market (VW)
Sporty
BMW
Mazda VW
Conservative
For today’s value-conscious, octane-loving drivers, Volkswagen can position its Golf to offer a
more sporty and fuel-efficient as compared to competitors, so as to offer the best long term value
to consumers in the market.
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5.0 Marketing Mix:
In line with the marketing objectives, the focus of the marketing mix will be towards providing
greater value, and creating a stronger brand image.
5.1. Product:
Product Class: Transport Vehicles
After releasing the first Volkswagen Golf car in Singapore, Volkswagen has been adding new
technology and refreshing the exterior and interior designs of the car. In 2015, Volkswagen
launched the Volkswagen Golf 1.4 TSI (DRG) range that is lighter and more fuel efficient. The
latest range also includes the most advanced engine, safety features and a cool exterior outlook.
In 2015, there's the new Golf Variant, Golf R-Line that has family friendly, with new features
like the panoramic sunroof (Volkswagen Singapore, 2016).
By adding new innovations to the existing golf car on a regular basis, like the technological
features, advanced engine, exterior and interior designs, Volkswagen is able to extend the Golf
car product life cycle (Lorette, 2016).
As seen in figure 4.0, product extension (red upward curve) phase brings sales growth, and
occurs after the maturity stage (orange neutral curve).
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Figure 4.0: Product Life Cycle
Features:
Qualities:
1. Cruise Control
2. Rear-View Camera
3. Automatic Post-Collision Braking
4. Cruise Control
5.
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Warranty:
Customer Service:
24-hour, 7 days a week Roadside Assistance and tow service through Volkswagen Centre
Singapore at +65 6305 7299.
Product Levels
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5.2. Place:
The Golf will be manufactured and distributed from China to Singapore (Volkswagen, 2016). To
effectively distribute the Golf to the Singapore market, we have examined the following key
areas to recommend an appropriate Place strategy:
Degree of Market Exposure
Distribution Strategy
Distribution Channel
The strategy allows for the highest degree of control over other distribution strategies. This
provides opportunities to focus on committed and specialised personal selling, combined with
extensive after-sales service to maintain the exclusive quality of the Golf.
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Figure 5.0: One-Level Distribution Channel
Under the recommended strategy, Volkswagen will hold legitimate power and direct control over
the distribution network. This provides various competitive advantages; with greater control over
the quality of personal selling; allocation of resources towards Volkswagen products; and
collection of consumer feedback. The low number of intermediaries reduces the points of
transactions, which creates a more efficient logistical flow.
5.3. Promotion:
The objective of the promotional mix is planned accordingly to the product life cycle. These
consists of: 1) Raise Product Awareness, 2) Create ‘Sporty’ Image, 3) Create ‘Fuel-Efficient’
Perception.
The integrated communication plan will be effective to communicate brand values, increase
association towards the Golf, and meet the desires of the target market. The association of
attributes to the product/brand is effective in developing product image. We believe that these
abovementioned promotional mediums will meet the marketing objectives and drive greater
sales.
The aim of the promotional strategy is to market the Golf based on the core values of the
company. Each of the tools will help consumers identify with the organization’s core values, as a
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result influencing attitudes and behavior. This is contrary from the current promotional strategy
in focusing on product offerings. In doing so, this is more effective in appealing to consumers
inner self, thus influencing outer selves – purchase decision (Zinkhan and Hong, 1991).
The tools used are customized to maximize an effective reach towards the target market, and will
make use of the following:
5.3.1 Advertising:
Advertising is an effective medium in raising product awareness throughout a geographically
dispersed area.
Online Advertising
Singaporeans are highly connected to the internet (80% internet penetration) and this provides
opportunity to reach more people cost-effectively (DIL, 2015). Based on the behavior of the
target market, SEO will be used to direct online traffic towards the Volkswagen website. The
website will be essential to communicate information and comparison with competitor models.
Additionally, websites with travel-related or sports-related content (especially relating to
Formula One) will be targeted, to maximize the cost-effectiveness of advertising coverage. These
advertisements will be used to direct further traffic towards the Volkswagen website.
Public Transport
Advertisements on public transport (MRTs and Public Buses) are able to reach towards the target
market of first-time buyers (using public transport), and existing drivers (on the roads). Static
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advertisements in high commuter traffic areas (MRT Stations and Bus Stops) are effective in
concentrating advertising efforts at a concentrated mass; especially when located in visible
contact areas. Additionally, ‘moving’ advertisements on public buses extends the number of
advertisements contact points across individual routes. As a result, advertisements cover a larger
market.
Additionally, expert channels are a desirable medium that effectively appeals to customers’
‘values’ (SmartInsights, 2012). Brand advocates such as Lewis Hamilton are likely to be
recognized by the target market, and hold a high degree of referent power. To maximize cost-
effectiveness, we recommend selecting sportsmen who exemplify Volkswagen’s brand values
and are closely associated towards the demographics of the target market. This will be effective
in creating the desired brand image, and influence purchase decision.
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and stimulating interest. The Golf will be sponsored for specific events/activities that possess the
relevant attributes that creates an orientation towards a sporty-image. Such events identified
include F1 and Singapore Motor show.
Experiential engagements are identified to be more effective than direct marketing, in terms of
developing consumer identification with the brand and creating brand image (Bigham, 2010).
5.3.5 Publicity:
Public relations (PR) would be used to generate publicity and communicate brand values. These
will develop the Golf towards the desired market positioning, whilst building good relationships
with the market. Singaporeans regard PR as a highly trusted source of information (DIL, 2015),
and this provides opportunities to create a positive and fuel-efficient brand image from articles
written by journalists whom the PR has liaised with. This is important in lessening the impact of
the existing negative image associated with Volkswagen.
5.4. Price:
Demand for the Golf is price sensitive, as a continental car faces competition. Many competitor
brands sell hatchback models that possess similar functions with lower prices; in the current
market. Volkswagen will differentiate the Golf in terms of product offering and value as part of
this strategy.
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Price Objectives
Value-Add
Maximize Current Profits
Maximize Market Share
Be a Quality Leader
Pricing Method
Value-Added Pricing- Volkswagen will charge a competitive price for a high-quality offering.
This is done through reengineering the company’s operations so as to produce at a low cost while
keeping the high-quality of the car maintained.
We refrain from lowering the price level; which erodes brand value over the long-term; to attract
customers. By offering greater post-sales coverage over the Golf, it offers greater peace of mind
over purchase decision; which is identified to be valued as it meets value-conscious needs. This
delivers greater value over a longer-term horizon, and will win loyal customers over by offering
extra services not offered by competitors.
Expected Revenue
Based on average monthly sales data of Volkswagen collected from LTA (2016), the projected
sales volume for 2016 hatchback sales is projected at 1,116 units (Figure 6.0). Based on the
recommendations in the market plan, we are projecting an increase in average sales volume by
15% annually for the next 5 years; which will increase sales volume by 75% of 2016.
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Figure 6.0: 5-Year Financial Forecast
Financial Year 2016 2017 2018 2019 2020
% Change from base year 15 30 45 60 75
Vehicles(Units) 1,116 1,283 1,476 1,698 1,951
Marketing Budget:
The recommended marketing budget for the Golf will be SGD $8.0 million. This figure is based
on 12% of projected revenue for 2016 (Figure 6.0).
Laurel Mintz (2015) CEO of marketing firm, Elevate, recommends allocating 6-12% of
projected revenue for the marketing of an established brand like Volkswagen.
The majority of the budget will be allocated for the marketing plan, with SGD $1.3 million (2%)
to provide a degree of allowance to capture short-term opportunities in the mass market and
develop brand recognition.
Table of Implementations
Task Description Personal Start Date -
Responsibilities Completion Date
Online Advertisement Banners, Search Johan 20th April 2016 – 27th
Advertising Engine Optimization April 2016
Television Liaising with MediaCorp and Christopher 20th April 2016 – 27th
Advertising television cable service providers. April 2016
Printed Media Liaising with Straits Times and Luqman 20th April 2016 – 27th
local automobile magazines to April 2016
introduce printed advertisements.
Bus Collaborating with SBS, SMRT Leon 20th April 2016 – 27th
Advertisement and LTA to place advertisements April 2016
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on buses and in trains, as well as
at bus stops where there high
volume of commuters.
Interactive Collaborate with LTA to place Johan 29th April 2016 – 5th
Marketing interactive advertisements at bus May 2016
stops.
Personal Selling Training and Development of Christopher 29th April 2016 – 5th
Product Knowledge, deployment May 2016
at showroom and roadshows.
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8.0 Evaluation of Plan
This section highlights the criteria for success and lists the process to monitor the strategies
implemented. Evaluation of the strategies is important to manage the unpredictability of the
external environment. This allow for changes to be applied when needed, to achieve the desired
marketing objectives.
It is proposed that by implementing these strategies and evaluating the outcomes of the
implementations, Volkswagen will be able to achieve the targeted marketing goals and
objectives. This will develop stronger brand equity and larger market share in the Singapore
market within the next 5 years.
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Appendices
Figure 1.0
Internal
Strength 2.1.1 Strong global presence
Having its operations in 153 countries worldwide, Volkswagen
became the second largest automaker by output in the world in
2014 with 10.23 million units sold and 202.2 billion euros in
revenue (Statista, 2014). With such immense reach to the mass
market, Volkswagen has been successful in capturing the
majority of the market with only Toyota able to compete in
terms of global presence (Murphy, 2015). Furthermore, the
financial report of Volkswagen in 2015 highlighted the
company’s positive growth in car market where its sales
revenue rose by 10.3% from the previous year to $52,735
million (Potsch, 2015).
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Internal
Weakness 2.2.1 Competitive market make them unable to capture
significant market share locally
Singapore, although a small city, has a booming economy
which allows for increase expenditure on luxury goods. Also,
due to the image conscious society, Singaporeans go for image
boosting products to increase their self-image. Thus, brand can
be an important factor other than serviceability, design,
functions and safety of a car. Volkswagen has many
competitors from continental to asian car brands who are able
to offer the same product at an equal or even lower cost, such
as Toyota for example (Chin, 2010). Furthermore, the taxi,
bussing and MRT infrastructure improvements and entrants of
new operators have also offered more convenience to
consumers in a small country like Singapore and increased the
comparison with public transport as a convenient mode of
transport (Lee, 2015). With the differing modes of transports
and brands offering comparative products, it has hindered the
growth of sales locally.
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External
Opportunities 2.3.1 Consumer inclination towards “green” vehicles
Ford Motors did a study in its annual sustainability report in
2011 that highlighted the changing needs of consumers in
terms of owning vehicles. It reflected an increasing demand for
more fuel-efficient vehicles and consumer inclination for
products that are ethical in consumption and environmentally
friendly (Ford, 2011). Thus, Volkswagen could capitalize on
this trend and introduce more fuel-efficient models that also
emit much less CO2 across all its automotive brands.
2.3.2 Growing trend for hatchback and continental cars
Growing trend globally for hatchback cars. As it is a cheaper
alternative to owning a premium brand. For example, the
Mercedes came up with A-series hatchback at a relatively
comparable price to a Japanese car. Consumers choose this
option as it give a greater status and prestigious image and this
is very applicable to Singapore’s image conscious culture. At
the same time continental cars have the perception of greater
engineering technology and quality as compared to Japanese
cars. Smaller cars also are more fuel-efficient and suit the
urbanized environment like Singapore (MacLean, 2014).
25
External
Threats 2.4.1 Fluctuating fuel prices
The price of oil has fluctuated from $60 per barrel $146 in
2009 and subsequently descended again to below $50 in 2015
(GNP, 2015). When fuel prices drop, it could make hybrid cars
less desirable compared to current models and Volkswagen’s
investments on hybrid and electric cars would become losses.
On the other hand, increasing fuel prices would make non-
hybrid models less attractive to cost conscious consumers, as
they would demand smaller-sized cars that are more fuel
efficient (Adam, 2014).
2.4.2 Rising raw material prices
Raw material prices have been on the rise due to increased
demand and it is expected to continue to increase for as much
as 10% from a survey done by IRN Inc. in 2014 (Sedgwick,
2014). As raw materials like, metal, plastic and glass which
makes up 47% of components of a car the swelling of prices
will lift the costs for auto manufacturers and result in lesser
profits for Volkswagen (Kallstrom, 2015).
2.3.3 High ERP and COE Cost
Economist Intelligence Unit (2016) reported Singapore to be
the most expensive country to live in in terms of transportation,
household supplies, utilities to name a few. This is not helpful
with the imposition of regulatory measures such as the
Certificate of Entitlement (COE) and road usage charges like
the Electronic Road Pricing (ERP). The country also has one of
the most regulated automotive markets in the world due to its
geographic constraints and the need to regulate traffic density
(Frost, 2007). In order to regulate the flow of traffic in a small
city, the government has used such systems to reduce the
number of cars on the road and subtly discourage use of it.
Although the price of COE has dropped of late, the cost today
is an estimated $45,000 (OneShift, 2016). Such regulations
impede and discourage many buyers by making cars less
affordable.
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