Term Paper on "Marketing Plan for Chery Automotive"

Quoted Instructions for "Marketing Plan for Chery Automotive" Assignment:

I will email the Intro I have completed, what I need is this section. Please don't do an intro since I got the introduction or conclusion, I will do it after combining other sections.

Our Product is Chery Automotive Automobiles and they are entering USA market. This section is part of a Marketing Plan for Chery Automotive.

Market Analysis

In this section you want to communicate to the reader a general understanding of the environment in which your product will be sold, and those forces outside your organization that will have an effect on the development and execution of your strategies. The key points to address include the definition of the market space in which you operate, your competitors, trends that will affect your market, and how the consumers are segmented.

2.1. Market Definition

Define the market in which your product will be sold. It is best to start with a broad description of the potential market, so as to include the most likely current consumer segments that purchase your type of products, as well as potential untapped market segments (i.e., that have a need/want your product can fulfill) who may want to buy your type of product if targeted accordingly. In addition, this broad classification will help to identify more organizations/products that will compete for your share of the market - be sure to include substitute products (i.e.,, those that are not exactly the same type of product, but consumers may consider as a means to fulfill the same need/want as your product) and potential new entrants into the market. As you work your way through this process, you can then narrow the definition of the market as necessary to make it more and more relevant, measurable, and manageable. The importance of this section is to identify the external opportunities and threats in which your organization will be confronted. Listed immediately below are some questions to consider for this section (keep in mind that you can include other information you deem relevant and beneficial for the reader):

*****¢ How would you describe the market in which your product exists?

*****¢ What are the basic needs/wants the market's consumers want fulfilled?

*****¢ In which NAICS (North American Industry Classification System) category is your product classified?

o What is the description of products classified in this category?

o What is the size (total sales $ and number of units) of the market?

o What is your market share of this market?

o What is the recent, current and projected rate of growth in this market?

*****¢ What products (direct and indirect/substitutes) do the market's consumers consider to fulfill their needs/wants?

*****¢ Who are the key suppliers in the industry?

o What type of power and/or threats of forward integration, if any, do they possess that will make it difficult or easy for you to compete and execute your marketing plans?

2.2. Segmentation

The process of segmenting your market has two goals: 1] identify homogenous groups of consumers that think, feel, and/or act in a similar manner, with respect to the purchasing of your type of product, and are significantly different from other groups; and 2] identify groups of consumers that are large enough to justify a separate marketing approach. While these groups can be characterized by a variety of dimensions, the main goal here is to provide the reader with an understanding of the consumers in the market via profiles that depict who they are, and why and how they buy your type of product. Listed immediately below are some questions to consider for this section (keep in mind that you can include other information you deem relevant and beneficial for the reader):

*****¢ How can you best describe the consumers that buy this type of product?

*****¢ Demographics

o Behaviors

o Benefits sought

o Psychographics

o Attitudes

o Lifestyles

o Other characteristics?

*****¢ How can these consumers be categorized into groups with similar characteristics such that it would be beneficial to construct different market strategies to get their attention, generate interest, and motivate them to buy your product? Whenever possible, use research data to support these distinctions.

*****¢ Create a profile of each segment by giving each one a descriptive label and then listing the main characteristics that distinguish it from the other segments?

*****¢ What are the population sizes of these segments? At what rate are they growing?

Marketing Plan Worksheets

Further Breakdown, there might be some duplicates from the top.

A. Target Market

1. Who is your target market and why?

2. What are the basic wants/needs your consumers' want fulfilled?

3. In which NAICS (North American Industry Classification System) category is your product classified?

a. What is the description of products classified in this category?

b. What is the size (total sales $ and number of units) of the market?

c. What is your market share of this market?

d. What is the recent, current and projected rate of growth in this market?

e. What products (direct and indirect/substitutes) do the market's consumers consider to fulfill their needs/wants?

f. Who are the key suppliers in the industry?

4. What type of power and/or threats of forward integration, if any, do they possess that will make it difficult or easy for you to compete and execute your marketing plans?

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