Chose an enterprise that you would like to develop and write its story. What are the message, conflict, characters, and plot? Does the story of your enterprise fit one of the classic stories? How is the story of your enterprise unique? Describe the marketing mix for your enterprise. I would like to develop a car manufacturing and marketing business enterprise that would allow a transformation in the automotive industry along the lines of changes introduced by Henry Ford. Currently the automotive market is manufacturing and marketing vehicles that are becoming irrelevant and overpriced.
The average customer is without options and has to wait for a large change to occur and deliver him from the issue of overpricing and under utilization (Kerin & Rudelius, 2001). The message behind my business enterprise would be to provide optimized, appropriately priced vehicles for the average customer. The conflict that would be dominant would be to establish market credibility in an already overly competitive market that houses brands with decades of trust behind them. The new business enterprise would have to develop market and consumer trust by providing vehicles that are not prone to breakdown and require little maintenance to run overall.
The characters for the story will be the management of the new enterprise along with its development team, market competition as well as the consumers. The story begins in Detroit where a new car manufacturing plant is set up in a small garage. The new company’s strength lies in manufacturing smart cars that seat one or two people and use small engines or motors to power the vehicles. The innovative edge of this company is the batteries that are being used on their vehicles.
These new generations of batteries possess exceptionally higher energy densities than the competition can offer which means that the batteries are smaller but carry more power overall. Smart cars that are powered by these batteries (electrical vehicles) as well as smart cars that are powered by a small gasoline engine and these batteries (hybrid vehicles) provide a range of around 100 miles on one charge of the batteries. Moreover the batteries take little more than 2 hours to be fully charged again providing ease and simplicity for the customer.
The pricing of the smart car would be kept such that people would be encouraged to buy these smart cars in place of their regular gas guzzlers. This way the overall smart car market would eclipse the regular gasoline / diesel engine car market. The story of my enterprise fits the classical story of Henry Ford’s Model T development that allowed even the poorest to afford cars. However my story is unique in that Ford had little established competition to deal with but current giants such as GM, Ford, Toyota and Honda have the capability of driving a new business out of the market through cut throat competition (Banting & Ross, 2010).
Also Ford’s strength lay in the assembling techniques in use that allowed mass production but the prowess of my enterprise lies in developing innovative vehicle technology. The marketing mix of my enterprise would be composed of the 4P model including price, promotion, product and place (Needham, 1996). My product would be electric and hybrid vehicles whose lineage and models would be increased over time in response to market demand.
The price strategy would be kept such that the cars would be priced as per the competition although they would have greater utility. The promotion of the cars would be carried out using green expos, auto trade shows and advertising measures both in digital and print media. The cars would be launched initially in the more environmentally sensitive states such as California that is looking at a ZEV (Zero Emissions Vehicle) policy by 2014. Bibliography Banting, P., & Ross, R. E. (2010). The marketing mix: A Canadian perspective.
Journal of the Academy of Marketing Science 1(1), 1-11. Kerin, H., & Rudelius, H. (2001). Marketing, The Core, 4th Edition. New York: McGraw Hill Publishing. Needham, D. (1996). Business for Higher Awards. Oxford, England: Heinemann.