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Essay / Audi Essay - 1062
Currently, in the automobile market, there is an increasing consumer demand for energy efficiency. Energy efficiency is a growing concern for the modern consumer; this has led to the penetration of hybrid and electric cars in the automobile market. The Audi Group is a German automobile manufacturer (owned by the Volkswagen Group) that designs, engineers, manufactures and distributes luxury vehicles. Audi's mission translates to "We delight customers around the world." (AUDI AG, 2014). Audi aims to provide fuel-efficient luxury cars. Audi is a dominant brand in the New Zealand market; With Audi sales up around 25 percent from last year (McNicol, 2013), it is evident that the demand for luxury cars is significant. The growing demand for fuel efficient fuel creates a growth opportunity for Audi. Market AnalysisAudi manufactures luxury cars for a small but important niche market. The luxury car market targets high earners with disposable income. The luxury car market is reaching its peak with a large number of high-income earners investing in luxury vehicles, especially in the New Zealand market where luxury car sales are outpacing the growth rate of car markets cars and SUVs (McNicol, 2013). Consumer trends in luxury car markets show growing demand for hybrid and fuel-efficient electric cars. Competitor Analysis Audi, along with BMW and Mercedes-Benz, constitute the three best-selling luxury car brands in the world. world. BMW is one of Audi's biggest competitors; BMW has a strong and loyal brand, created by consistency of high quality products. BMW has also created a strong brand image: many customers buy BMW to be connected to the idea of wealth and class associated with the brand. BMW, unlike Audi, has not adopted as quickly...... middle of paper ......nefit Audi. Audi can take advantage of the demand for economical fuel by heavily marketing its hybrid electric cars. Audi should develop a marketing campaign to capture the attention of the “green target market,” which is a group that Audi has focused less on. Currently, Audi has a competitive advantage over its competitors because it has been researching, developing and manufacturing hybrid cars for decades. Audi needs to incorporate an image change into its marketing campaign because many customers view Audi only as a luxury brand and not as an environmentally friendly group. Many are unaware of Audi's extensive research and history with hybrid models, which is something Audi should be promoting in today's market. By adopting these recommendations, Audi will continue its growth by integrating a new target market which will increase its customer base and therefore boost its sales...