Question

Information search assignment

i. Automobiles

ii. Energy drinks

iii. Fast food restaurants

iv. Auto insurance providers

My choice are Automobiles.

For the product category separately answer the following questions:

1. Name and specifically discuss the brands that are in your (a) awareness set, (b) consideration (evoked) set, (c) inert set, and (d) inept set. For the set this should include - Which brands, why this many, why these specific ones - Don’t just make a list of these brands!
2. Discuss in what ways you think each of your four sets will differ/be the same as other students’ in this class (i.e., compare/contrast the specific brands, number of brands, etc.)
3. Finally: Choose one of the brands you listed above and discuss how this information set information could be relevant to that company’s specific marketing activities for the brand (i.e., how could the information about the four sets from part 1 and 2 be used by the marketer?
4. 2 Page long please  

Answer 1

AUTOMOBILES

DEFINITION :

• Automobile engineering is a branch of engineering which deals with everything about automobiles and practices to propel them. Automobile is a vehicle driven by an internal combustion engine and it is used for transportation of passengers and goods on the ground. Automobile can also be defined as a vehicle which can move by itself. Examples : Car, jeep, bus, truck, scooter, etc.

How Automobiles Work :

• The automobile is one of the most fascinating devices that a person can own. Automobiles are also one of the most pervasive devices, with a typical American family owning two automobiles.
• An automobile contains dozens of different technologies -- everything from the engine to the tires is its own special universe of design and engineering. Therefore we have dozens of different articles at How Stuff Works that explain all the intricacies of our automobiles. Here are some of the highlights.

Engines

• How Car Engines Work
• How Diesel Engines Work
• How Stuff Works Engines Page

Transmissions

• How Manual Transmissions Work
• How Clutches Work
• How Automatic Transmissions Work
• How Torque Converters

(a) Awareness Set:

The brands of which a consumer is aware; normally, the awareness set will be less than the total set of brands.

It is the set of products that the customer is aware of and for automobiles these are the following brands below which have a remarkable presence in this industry and any car fanatic has come across those brands.

1. TATA Motors (Known for affordable and robust cars)
2. VOLVO (known for its safety first design)
3. RENAULT
4. TESLA (known for electric cars)
5. FORD (Veteran in car manufacturing)
6. VOLKSWAGEN
7. MITSUBISHI
8. NISSAN
9. PORSCHE (Known for fast racing cars)
10. LAMBORGHINI (Highly valued racing car)
11. MERCEDES-BENZ (High speed engine)
12. HONDA
13. HYUNDAI
14. LAND ROVER
15. AUDI
16. BMW
17. CHEVROLET
18. ASTON MARTIN
19. BENTLEY
20. FERRARI
21. JEEP
22. FIAT

(b)Consideration (Evoked Set):

• A group of relevant brands that a prospective consumer is favorably familiar with when they are thinking about making a purchase. The goal of many marketing campaigns is to establish their business brand firmly among the evoked set of products considered by most target consumers when making a purchase decision.

This set of products includes a narrow down items on the basis of an individual’s personal screening criteria. This criteria is based on previous experience, affordability and brand awareness. Here the list includes:

1. TATA MOTORS
2. VOLVO
3. VOLKSWAGEN
4. AUDI
5. FORD
6. NISSAN
7. HONDA
8. HYUNDAI
9. BMW
10. JEEP
11. FIAT

(C) Inert Set:

This set of products might not be in the evoked set but still it get might considered for some reasons that grab the consumers attention.

• FERRARI (Unmatched class and nor affordable to every one)
• ASTON MARTIN (One of the most premiered car in Hollywood)
• BENTLEY (Royal feeling of this car)

(D) Inept Set:

This set of products are excluded from the consumers buying list because of some bad reviews or bad experiences with it. (It is sorted out considering my countries market scenario of this brands)

• CHEVROLET (Consumer satisfaction is less in many cases)
• FIAT ( Very less market presence)

COMAPRE/CONTRAST OF MY LIST OF AUTOMOBILES:

• The brands that are mentioned in the awareness list are mostly relatable to the layman. Those brands has definitely come across our minds with an average knowledge of automobile industry.
• In contrast my set of evoked/inert/ inept set are sorted on the basis of realistic approach and for this you need to have a considerable knowledge of automobile industry.

THE SELECTED BRAND: AUDI

• AUDI has a remarkable presence in most of the countries carrying a significant brand value.
• AUDI is in the awareness set of most of the common people. This name known to people who have least knowledge of automobiles.
• AUDI always narrowed down to evoked set as this brand is one of its class.
• Very less people keep it in Inept set because of its consistent legacy.
• In addition it is observed that marketers are able to place AUDI in Evoked set of consumer mind. As the evoked set is highly considered by most target consumer when making a purchase decision. The marketers will use this set of data to placed AUDI in both affordable and luxurious statement. As automobile comes under luxurious needs , marketers will take the advantage of permanent position of AUDI in evoked set and boost sales and revenue. Such market inducement leads to bandwagon effect where people tends to buy the same automobile that is trending in the industry.

MARKETER’s ADVANTAGE:

• From the above set of consumer buying parameters, a marketer will come to know where its brand stands. A marketer gets its valuable feedback from the insights of the consumer from the above sorting parameters. This valuable feedback can be used for betterment of the product and profitable strategies as well
• Marketing is critical to the development of strategic planning for many organizations. Marketers are directly involved with the development of processes that communicate and advertise the value of services and products to clients.
• Marketing may involve sales, advertising, and the strategies adopted by marketing teams to promote products and services to customers. There are several important advantages associated with utilizing marketing within an organization, including development of new product ideas, increased sales, brand recognition and cost savings.

Brand Recognition:

• One of the most notable functions of marketing is creation and promotion of corporate brands, according to Honeywell International, which participated in a $14 billion merger with Allied Signal in 1999.
• This resulted in capabilities that now incorporate business offerings in several new areas including aerospace, electronics, home and building control, specialty chemicals, consumer products and transportation industries. The success of the merger and subsequent success of the company was due largely to brand recognition. To stay competitive, companies have to reach out to as many consumers as possible through as many channels as possible.
• Consumers have to know who to buy from. A brand is instantly recognizable through a variety of factors, which may include a slogan, name, symbol or reputation, as was the case in Honeywell International, Inc.

New Product Ideas :

• In today’s technologically advanced global market, consumers shop until they find products that are innovative. Marketing provides the advantage of showing customers the latest and greatest a business has to offer. Companies that have taken advantage of marketing in big ways include companies such as Apple, which is always showing off the latest and greatest new technological electronic or computer gadget to come to market. This can result in a big boon in sales. Customers are going to buy innovative products. Marketers have to work diligently to offer products that consumers want and then advertise them.

Increased Sales:

• Marketing brings increased sales when managed correctly. This typically comes in the way of high rates of customer traffic. This may come from Internet traffic generated by various means, including from email campaigns, traffic that comes from business blogs, social media forums, product launches online or from marketing efforts offline. These may include retailers that work to promote services that feature selected products during certain seasons. Coupons or other special discount offers are another way that marketers offer advantages to organizations by increasing sales and the bottom line by improving consumer interest in products.

CLASSIFICATION OF VEHICLES :

Automobiles or vehicles can be classified on different bases as given below :

On the Basis of Load :

(a) Heavy transport vehicle (HTV) or heavy motor vehicle (HMV), e.g. trucks, buses, etc.

(b) Light transport vehicle (LTV) e.g. pickup, station wagon, etc.

(c) Light motor vehicle (LMV), e.g. cars, jeeps, etc.

On the Basis of Wheels :

(a) Two wheeler vehicle, for example : Scooter, motorcycle, scooty, etc.

(b) Three wheeler vehicle, for example : Auto rickshaw, three wheeler scooter and tempo, etc.

(c) Four wheeler vehicle, for example : Car, jeep, trucks, buses, etc.

(d) Six wheeler vehicle, for example : Big trucks with two gear axles each having four wheels.