Evaluation of Kia’s Current Marketing Strategy and Marketing Mix
2270 words 10 pagesIntroduction
Kia Motors Corporation (KMC), founded in 1944 is Korea's oldest manufacturer of motor vehicles. Today, the Corporation is part of the 4th largest automotive group in the world, having exported over 5 million cars to more than 155 countries around the world. Kia’ goal is to become a top 5 volume car brand. In order to achieve this status they must increase their market share, both fleet and retail, break through into the corporate fleet sector and sell over 100,000 cars a year.
KIA has four key focus areas. Firstly, to deliver quality cars and services so that they are recognised by the media and their customers. Secondly, to become a challenger brand through building a compelling and differentiated, yet fun and dynamic image …show more content…
Furthermore, Kia adopts a different pricing strategy at each stage of the PLC. When the car is first introduced the price will be the highest, after this point the company analyses the market response and introduce promotions and offers accordingly. However, in terms of the market, Kia uses the penetration pricing strategy to enter the market quickly and deeply, thereby attracting a large number of buyers relative to its competitors.
Currently Kia has 166 dealerships across the UK from which it distributes its products. Although this is a relatively high number, KMUK have plans to expand to over 170 sites and target key areas which are not currently being represented, such as Guildford and Surrey.
Dealerships can be an opportunity as well as a threat. Customers who visit dealerships are usually strong prospects in the final stage of making their decision. If they receive exceptional customer service and have a good customer experience at the dealership, the customer will be more likely to purchase the product but if they do not, dealerships become a threat to the company and jeopardise the brand image. In light of this, Kia should ensure that requests such as booking a test drive are followed up by dealerships via confirmation emails and there after sales department get feedback from customers regarding their dealership experience.
In the introduction stage of the PLC (in which the product is first distributed and