7.0 Strategic Marketing (STP)

The Drive ai company requires an excellent strategic marketing plan through which can make their company’s market importance. It is a new self-automated driven car company, which comprise of artificial intelligence system. This is a new company, which have started their business from the year 2015; therefore, it is very essential for them to understand their target market and to implement an effective business strategy to enhance their company’s profit. The company not yet started their sales till date, and due to this, they have to take a valuable market strategy during their initial times (Riley, 2019).

7.1 Mission

The mission of Drive ai is to improve their company’s sales, recognizing the target customers and to determine their expectations from their products and services. The company is determined to increase its commercial viability, demand through which they can improve their brand marketing. Drive ai. offer guest services to nearly 10000 people of hall park to make public relations

7.2 Marketing objectives

The chief marketing objectives of Drive ai are

To implement an effecting promotional activity through which they can attract buyers for their cars.

The company targets to make their market share by targeting those customers who find lazy to drive or those who do not own their own car.

The company mainly targets the two famous states of America Texas and California and are likely to intend more states across the country (Morgal et al. 2019).

The company aims to apply an effectual promotional strategy through, and they are expecting to compress on an improved scale by the year 2020.

The company aims to give fierce competition to other self-automated car companies like Voyage, Toyota, and Tesla and earn maximum profit from them.

Drive ai wants to input the on-road testing program and transportation services to some village communities to commence their company’s business.

They are trying to implement unique marketing strategies as comparable to their competing companies to attract the maximum number of customers.

7.3 Financial Goals

The financial goals of Drive ai. Company are

The company aims to commence their sale within the present year and to make a minimum profit by the fiscal year 2022.

The company desires to give fierce competition to other self-driven car companies and expects to make maximum sales to overcome their manufacturing expenses.

Drive ai. Till date has collected around 77 million US dollar funding as business capital. Therefore they require competent financial strategies to amplify their sales in the distant future (Hapsari, Stoffers & Gunawan, 2017).

It is required to channelize their business capital in various marketing activities to enhance customer base.

7.4 Segmentation and Target market

Drive ai are about t initiate their marketing activities in California and Texas in their initial days. They are trying to involve village communities near outskirt areas where the transportation system is quite difficult, senior citizens who feel tired to drive and to those people who still do not own their personal car. Most of the individuals in the USA hold their private car; therefore the company might find it tough to make a maximum profit as they have expected till the financial year 2022. Drive ai however initiated transportation service and test drive programme in Frisco city as a trial course but their sale estimation over the years are still unknown. The company have to try their best to make their position in the market and to implement their marketing activity as soon as possible

7.5 Positioning of the Voyage Auto Inc Company

The company is still unknown to the customers, as their company not stated their selling yet. Other companies like Tesla, Voyage have already gone so far by these past years however Drive ai. is still trying to search their first ever buyer. To make their market share and the market value they must try to seek buyers or trustful company with which they can associate to commence their business. They thrive on launching their first ever-manufactured car; therefore; they must try to implement such strategic promotional activity due to which they can make a maximum sale as much as possible. This strategic planning will help their company to create a strong and effective position in the market.

7.6 Strategy Pyramids

Figure: The three levels of Strategy pyramid (Atwal & Williams, 2017).

The strategic pyramid helps to determine the market needs and their requirements, which will be beneficial for the organization. In the top level of the pyramid is a strategy that means company requires a productive marketing strategy through which they can initiate their promotional activities. In the mid-level of the pyramid, it comprises tactics which means that the company has to make a marketing strategy that can influence a maximum number of customers and can determine their competitors in the market (Doherty, Kearns & O’Rourke, 2015). The bottom part of the pyramid is a programme, which means the company requires to implement the strategic plan that they have prepared to maximize their company’s profit.

8.0 Marketing Mix or operational marketing

Marketing mix or executive marketing is an essential tool through which the organization can implement their marketing strategies. The four Ps of marketing is very useful as it makes the marketing programmes easier. It parts the marketing activity with other activities of the company due to which the marketing panel can put more importance on their brand promotion. It also helps to determine the important resources customer information and market condition, which can make their, marketing programme effortless.

The following figure helps to determine the 4ps of the marketing mix.

Figure: 4ps of marketing mix (Cacciolatti & Lee, 2016).

8.1 Price: The management of the Drive ai. is planning to launch their first ever model Nissan Nv 200 and Lincoln MKZs which will worth approximately around 60 thousand dollars. The technologies, which they applied in their cars, are quite innovative and advance which they expected to be liked by all (Marketing Mix – The 4 P’s of marketing, 2017).

8.2 Promotion: Drive ai. have applied AI(Artificial intelligence) technology and that is why they are quite confident that it will create a new benchmark in the market. The company have created their own official website and trying to hold their company’s account in the social media apps. The company is also planning to endorse their brand offline through offset printing.

8.3 Products or Service: The technologies that have been incorporated in their cars are quite progressive and tech implemented. The self-driven capability will give its customers the facility enjoys their ride without any difficulties. The cars are capable to navigate and provide route control facility. The software (AI) Artificial Intelligence that has been utilizing in the cars is specially designed for a road map through which the car arrives at its exact destination. This software is very useful which can reduce the car accidents and car damage.

8.4 Place: The Company is going to target the residential of Texas and California and expect to enhance its business in other parts of America. They have also targeted the remote areas of California and other village community areas of its nearby states. Frisco County near the Texas state the company have initiated to influence 10000 people among the village communities by implementing a guest-driving program. This marketing strategy will be very useful in evaluating and promoting their products features to the audience and to attract a maximum number of customers (Kanagal, 2015).

Reference

Marketing Mix – The 4 P’s of marketing. (2017, December 27). Retrieved March 30, 2019, from www.marketing91.com: https://www.marketing91.com/marketing-mix-4-ps-marketing/

Riley, D. (2019, February 28). Report: Self-driving car technology startup Drive.ai is looking for a buyer. Retrieved March 30, 2019, from siliconangle.com: https://siliconangle.com/2019/02/28/report-self-driving-car-technology-startup-drive-ai-looking-buyer/

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science, 1-26.

Hapsari, C., Stoffers, J., & Gunawan, A. (2017). The Influence of Perceived Cultural and Business Distance on International Marketing Strategy Decisions; A Case study of Telkom Indonesia International. International Review of Management and Marketing, 7(3), 238-245.

Cacciolatti, L., & Lee, S. H. (2016). Revisiting the relationship between marketing capabilities and firm performance: The moderating role of market orientation, marketing strategy, and organizational power. Journal of Business Research, 69(12), 5597-5610.

Doherty, A., Kearns, J., & O’Rourke, V. (2015). Integrating mobile into marketing strategy. Journal of Digital & Social Media Marketing, 3(3), 279-287.

Kanagal, N. B. (2015). Innovation and product innovation in marketing strategy. Journal of Management and marketing research, 18, 1-25.

Atwal, G., & Williams, A. (2017). Luxury brand marketing–the experience is everything!. In Advances in luxury brand management (pp. 43-57). Palgrave Macmillan, Cham.