I researched the following company/organization www.miniusa.com, From a MARKETING CONSULTANT PERSPECTIVE, and here are 3 key marketing strategies they are currently doing well and 3 key marketing strategies I suggest going forward?
I will be considering all aspects of marketing (not just “Promotion”), including specific examples of what they are doing well, and incorporating marketing principles (from Strategic Marketing Concepts).
Current Marketing Strategies
- Promotion through discounts: This firm has done extremely well in how they market their products to their customers. Key among them is the use of discounts to attract new customers and retain the old ones. The numerous promotion campaigns run by the company ensures that they reach a larger customer base in an already congested market (Whitney, 2020).
- Proper customer engagement: The company is also doing well in the area of customer engagement. While product development is important in the automobile industry, it is all useless when customers are left out in the designing and marketing programs. Customers posses the key to the success of this firm and to a large extent, they have been directly involved mainly through the internet.
- Adoption of modern car trends: One thing that this firm has outdone most automobile companies is adapting to changing trends in the car market. Just recently, this firm launched its electric car which has been a great marketing strategy and selling point for the company.
Marketing Strategies Going Forward
- Use of social media: The emergence of the internet has revolutionized how business today is carried out (Brenner, 2020). Technology has created new avenues through which business is being carried out and so far so good. If this company can make good use of the space available in social media, they will be in a position of reaching more people and have a larger market base for their automobile products.
- Remarketing: Unlike other markets, the automobile industry is a bit complex and customers need constant reminders on products available in the market. For this firm to remain relevant in the market, it will be a noble idea for them to come up with a series of free or paid ads which will act as a constant reminder of the products available and their effectiveness.
- Affiliate marketing: Looking at this firm critically, affiliate marketing would provide massive fuel for growth. This will however involve approaching the right partners who will in return refer more customers to the products of the firm which in the end results in increased profits.
Reference
Whitney, M. (2020, June 12). Automotive Marketing: 9 Strategies to Drive More Sales. https://www.wordstream.com/blog/ws/2019/04/03/automotive-marketing
Brenner, M. (2020, July 23). 17 Digital Marketing Trends You Need to Know for 2020. https://marketinginsidergroup.com/marketing-strategy/2020-marketing-trends-you-need-to-know/