The Marketing Mix of Volkswagen Group
Q2. Using one specific multinational enterprise with which you are familiar, examine the ways in which it has used the international marketing mix in its overseas operations. Explain the reasoning behind the choices it has made. Suggest any changes it might make to the international marketing mix over the next few years. Explain your reasoning.
International Marketing Mix of Volkswagen Group in India
Part 1: Background
The Chartered Institute of Marketing (CIM) defines marketing as ‘the management process responsible for identifying and satisfying customer needs profitably’.
The American Marketing Association’s definition is: ‘The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals.’
According to Wall, Rees and Minocha (2009) the three major elements involved in the marketing role are:
1. Customer orientation 2. Integrated effort, which means a focus on marketing throughout the organisation. 3. Goal focus, particularly on longer-term strategic aims
Marketing is based on identifying, anticipating and satisfying customers’ needs effectively and profitably.
It encompasses
-Market Research
-Product Planning/ Development
-Product Pricing
-Product Marketing
-Sales
-Promotion
-Distribution
-Customer Care
-Branding
-Merchandising
-Retailing
-Website Marketing and much more.
We can define marketing as a process of performing market research, selling products and/or services to customers and promoting them via advertising to further enhance sales. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Another way to define Marketing is as a process by which
-One identifies the needs and wants of the people.
-One determines and
International Marketing Mix of Volkswagen Group in India
Part 1: Background
The Chartered Institute of Marketing (CIM) defines marketing as ‘the management process responsible for identifying and satisfying customer needs profitably’.
The American Marketing Association’s definition is: ‘The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals.’
According to Wall, Rees and Minocha (2009) the three major elements involved in the marketing role are:
1. Customer orientation 2. Integrated effort, which means a focus on marketing throughout the organisation. 3. Goal focus, particularly on longer-term strategic aims
Marketing is based on identifying, anticipating and satisfying customers’ needs effectively and profitably.
It encompasses
-Market Research
-Product Planning/ Development
-Product Pricing
-Product Marketing
-Sales
-Promotion
-Distribution
-Customer Care
-Branding
-Merchandising
-Retailing
-Website Marketing and much more.
We can define marketing as a process of performing market research, selling products and/or services to customers and promoting them via advertising to further enhance sales. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.
Another way to define Marketing is as a process by which
-One identifies the needs and wants of the people.
-One determines and
Bibliography: Wall, S. Rees, B. and Minocha, S., 2009, International Business, FT Prentice Hall, 3rd ed. Volkswagen, 2010, Driving Ideas - Annual Report 2009 [online] Available at: http://www.volkswagenag.com/vwag/vwcorp/info_center/en/publications/2010/03/Annual_Report_2009.-bin.acq/qual-BinaryStorageItem.Single.File/Y_2009_e.pdf Luee P. 2008. Luxury cars makers eye Indian Market, Economic Times, [online] Nov 19 Available at: http://www.business-standard.com/india/news/gujarats-luxury-car-market-catches-fast-lane/23/53/381087/