Use the Internet to research at least two (2) companies within the selected product category. Take note of the leading companies in this product group, as well as the types of marketing, pricing, and consumer-oriented promotional strategies that these leading companies within the product group use.
Write a paper in which you:
1.Compare and contrast the promotional strategies used by two (2) different companies for a similar product within the category that you selected.
2.Recommend two (2) ways in which a company within the selected product group could use marketing information to differentiate itself in the marketplace to gain an advantage over its competitors. Provide a rationale to support your recommendations.
3.Propose two (2) uses for consumer-oriented promotions that could assist a company in both the short and long term for the product group that you selected. Provide a rationale for your response.
4.Analyze the strategic manner in which the leading company in this product group has made its pricing decisions by using one or more of the four (4) pricing objectives. Suggest two (2) actions that other companies within the same product group may take in order to differentiate themselves and gain a competitive advantage. Provide a rationale for your response.
5.Determine the most effective advertising medium for a company in the selected product category. Support your response with two (2) examples of the effectiveness of the chosen medium.
6.Use at least five (5) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.
This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.General Motors & Volkswagen Group
The automotive industry is largely dependent upon the economic wellbeing of a country. The booms and slumps of economies impacts the automobile manufacturers to a large extent. When booms occur, the demand for innovative and new vehicles is high, while in economic slumps the automobile industry demand decreases. In order for the companies to be able to survive and cope with all the impacts, the marketing strategies and efforts of a company need to be consumer specific, and focused on their customer’s needs, their target market.
Volkswagen Group, a German brand born in 1937 is ranked as the second greatest company in the automotive industry. Their efforts go from creation of designs, production and distribution to financing, fleet and leasing management. The range of their products consists of passenger cars, commercial automobiles, motorcycles, engines, and other. VW Group is prominent for collaboration with world’s greatest names in the automotive industry Porsche, Bugatti and Audi (Copping, 2014). The other greatest name in the industry is General Motors (GM), established in 1908 (General Motors Corporation, 2014), a multinational company from the US that deals with design, production, distribution and marketing of their services globally. General Motors produces vehicles in 37 countries under 13 brands in total among which are Opel, Buick, GMC, Cadillac, Chevrolet and others.
General Motors has been present in the industry since the early beginnings with their philosophy embodied in the excellence of their vehicles, their corporate culture and consumer focus. They are present in both Latin and North American market, as well as Asia Pacific and European market.
1.Compare and contrast the promotional strategies used by two (2) different companies for a...