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Marketing Essential Essay Sample

Financial Summary

Financially, Mercedes-Benz USA is doing quite well and has increased its current business compared to the previous quarter year by 10% to stand at 4.2 billion Euros (Daimler, 2014).The business grew to around 16% in the United States and the contract size in the region rose to a staggering 36.6 billion Euros. During the first half of 2014, consumers’ installment payments in the US totaled to $50 million owing the assistance of the innovative app my’MBFS’ which is 20% more than the previous financial year (Daimler, 2014).

Mission Statement and Market Overview

Despite the mission statement of Mercedes-Benz USA not being publicly present it operates on a number of values that they refer to as ‘What Drives Us’.  The same satisfies the intention behind a formal statement. The six values forming mission statement include: (1) audacity to refuse to make compromises,(2) Instinct to safeguarding what matters,(dedicated to honoring a legacy,(3) vision to considering every detail,(4) ready to perform duties,(5) perception to outdo targets
As of 2010, the mother company of Mercedes-Benz Daimler Group came together with various German companies and agreed to a mission statement for responsible business deeds. The six principles of the shared mission statement are: (1) the entity needs to serve the interest of the people, (2) the body requires competition if at all it is to serve the good of the people, (3) business serving the interest of the people relies on merit, (4) business serving the interest of the people needs to take place on a global scale, (5) business serving the interest of the people needs to be responsible.
Mercedes-Benz USA reached the highest year sales volume in its history which represented around 5.7% increase over the sales experienced in 2013 (Mercedes-Benz,2015). Mercedes-Benz USA has grown into a countrywide organization and employs a large number of people and also has dealerships using significant number of people (Plunkett, 2013).

SWOT Analysis for Mercedes-Benz USA

Strengths

Mercedes-Benz is a very strong brand name in the automobile industry and widely preferred by many. Mercedes also has desirable features that draws more customers and helps in the establishment of brand loyalty or loyal customers. Presence of widespread dealerships facilitates easy dissemination of services to their clients upon demand. Still on the same, the genuine spare parts can easily be obtained unlike for other brands where fake or counterfeit products are in the market. Mercedes-Benz USA has a number of models providing ample products that customers can choose (Merson, 2011). The vehicles are durable and hence do not wear off quickly and can serve people for quite some time before being road unworthy. Mercedes-Benz USA has efficient advertising and also reliable brand quality unlike some of its competitors that in turn spurs sales.

Weaknesses

Mercedes-Benz is quite an expensive car and as such, the brands are only limited to a particular group. Hence, cannot be affordable by the middle-class group. High product prices especially for machines calls for high maintenance cost. In regard to the same, the maintenance cost for Mercedes-Benz is high and also covers less mileage.

Opportunity

The global market for automobiles is rapidly expanding owing to the improved living conditions and also reduced prices for oil. It means that Mercedes-Benz is in high demand especially for those in need of luxury. There is an increase in the purchasing power parity that tends to favor the sale or importation of Mercedes Benz (Merson, 2011). Mercedes-Benz is a strong global brand and utilizes the same to tap markets in UAE, China and emerging economies of Africa.

Threats

Mercedes-Benz faces stiff competition from other automobile companies like Hyundai and Toyota, which calls for change in marketing strategies and even improving the quality. It costs the company vast sums of money in order to keep up with the current market trends. The government regulations in place are disfavoring the brand and also taking a toll on the profits. The ever-fluctuating oil prices are discouraging consumers from purchasing Mercedes-Benz since they are ‘guzzlers’. At the moment, there are other widespread and convenient means of transport like the electric train. Most people prefer other means due to the absence of traffic jams and less costly in the end.

An idea for a new product or service for Mercedes-Benz USA

The generation of an idea mostly depends on the company’s internal sources like R&D, marketing and revenues. The management brainstorms on the new ideas in an effort to generating viable product concepts. Mercedes-Benz faces stiff competition and hence has to be innovative in order to stand out in the market. Mercedes-Benz USA may decide to utilize the aspect of the organizational buyer whereby they sell to other business (B2B). The organizational buyer works for the company and later on paid to make the purchase. For example, the organizational buyer may buy some Mercedes-Benz models and resale them to consumers. The services of the organizational buyer will not be hard to come-by owing to the good economic performance, quality, and reputation.
Marketing objectives and strategies including how Mercedes-Benz USA can move towards sustainable marketing.

Mercedes-Benz USA aims at increasing returns on investment and increasing its sales and taking up a large portion of the market share. As a marketing strategy, Mercedes-Benz USA has laid eyes on social networking and also partnering with prominent personalities to selling their brand. Mercedes-Benz posted photos on Instagram in order to drive sales up. Using Instagram as part of their marketing strategy was termed as the greatest success in years owing to the increase in new buyers. As part of their marketing strategy, Mercedes-Benz has added unique features to its popular hybrids which include: spot detection, lane-keeping aid, night view and also attention assist which helps in the driver in monitoring the road. The above attributes have made the various models come out on top of the rest in the pack and intends to up its game despite rivals brands’ marketing strategies and lay emphasis on innovation and safety.

3-years forecast and budgets

Despite the future being uncertain, the next three years seems to be favoring the automobile maker owing to the effective strategies in place and also on the decreasing oil prices. Consumer’s purchasing power is improving as well as the standards of living and demand for luxury cars will increase and hence clients will come knocking on their doors. As for the budget, it is no doubt that the budget will soar owing to the increasing competition for raw materials from rival companies. Advertising is nowadays becoming costly due to the increased automobile companies selling their products at reduced prices to consumers and hence incur more in order for consumers to recognize their new models.

References

Mercedes-Benz (2015). Press Release. (Online). Available at <http://www.mbusa.com/mercedes/about_us/press/> (Accessed on 20th February 2015).
Merson, R. (2011). Guide to managing growth turning success into even bigger success. Hoboken, N.J., Wiley. (Online). Available at <http://site.ebrary.com/id/10492726/ > (Accessed on 20th February 2015).
Plunkett, W. R. (2013). Management: meeting and exceeding customer expectations. Mason, OH: South-Western Pub.

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