Jaguar is a one of the most
luxurious brand in the car manufacturing company. It targets the
customers with high net worth individuals groups who love to live
their life with high status symbol in the society. Jaguar F-Pace is
the first model of SUV in Jaguar. Product strategy of Jaguar F-Pace
can be classified into three aspects that is mentioned below:
Market Needs:
- In this transforming world, Jaguar
brand is adapting itself as per the modern demand of the
market.
- This brand is targeting and
reaching the market where they focus on the audience who belongs to
upper class groups.
- Jaguar brand don't compromise with
the customer's need and always keep in its mind about their
customer's status in the society.
- This luxury car brand targets on
that kind of customers who can be influences on the basis of
Psychographics & Behavioural factors.
Corporate
Goals:
- Every corporate goal has a motive
to earn more profit in every financial year and make itself
profitable for the longer run. As Jaguar brand is always the most
popular brand in the people who live the luxurious in the society.
So, Jaguar brand targets specific group of people on timely basis
and change product strategy according to the new demand in the
market as per this group of people. Further, these targeted
audience belongs to upper class group in the society which means
these audience only want to fulfill their modern featured demand in
the car and ready to pay higher for their higher luxurious
satisfaction. Due to which company makes goal to fulfill their
customer's satisfaction and the same model of Jaguar F-Pace is
manufactured on the basis of today's audience's need.
- Cost-effectiveness should be the
intial goal of any corporate company. Jaguar should focus on the
cost-effectiveness strategy which can be profitable at maximum
level and sustainable in the long run in today's competitive
market. Maximum utilization of raw material should be the goal of
the company.
- Jaguar company should be updated
with the new innovative techniques which can be differentiated its
product from their competitors. It should focus on the improvement
in the high technology machines and highly skilled professional
which will lead to the company to take initiative advantage in this
competitive world.
Features &
Innovation:
- Jaguar F-Pace Car Model shows that
Jaguar brand is innovation itself with this change of technology
pace and satisfying their customer's need with innovative
technology, beautiful designs and features in this car.
- Jaguar uses differentiation
strategy in their new product with unique featured specific. This
differentiation approach of this brand make it different from their
opponent and Jaguar F-Pace car model is the part of differentiation
approach of this brand.
- Jaguar brand always keep in mind of
their young customer's demand and this Jaguar F-Pace model provides
to have sports car feel as launched in its every car. Additionally,
it is a promise of the brand to their customer's with best
innovative technology, high speed performance and feel of
luxury.