TrueCar Marketing Plan
4088 words 17 pagesTrueCar Marketing Plan
TrueCar Marketing Plan Have you ever found yourself in the middle of purchasing a vehicle and wonder if you were getting a fair deal? TrueCar aims at alleviating that issue by providing consumers with real-time, pertinent data that better guides them through their purchase decision. Additionally, they have transformed the way dealers attract their customers and inevitably sell cars. The following paper will show how TrueCar has captivated the segment with their strategic marketing plan.
TrueCar’s objective is to alleviate the stress of purchasing a vehicle by ensuring that their members receive a fair market price. In addition to the consumer benefits, they also strive on bringing customers …show more content…
Online exploration has simplified the consumer experience and shopping process with less haggling and negotiating in dealership showrooms (Ward’s, 2010). The market size is only limited by the total amount of franchised and privately owned dealers in the United Sates. Furthermore, the automotive industry has trended upward, year over year, on a global scale (see Table 1). No one company has market share, as it pertains to trusted third party sites for comparisons, analysis, and pertinent pricing information.
Total Number of Automobiles Manufactured Globally
Note. Wikipedia. (2014, October 16). Automotive Industry. Retrieved October 17, 2014, from http://en.wikipedia.org/wiki/Automotive_industry
Market Trends According to Cars.com’s most recent Buyer Influence Study, sixty-eight percent of auto shoppers rely on online sources to find cars or dealerships. Of this sixty-eight percent, more than two thirds use independent research sites such as Cars.com, Edmunds, Consumer Reports, and TrueCar.com to narrow down their search and land their next vehicle. Additionally, most shoppers will visit six to seven different third party sites, inevitably narrowing those down to only one or two go-to sites for information and purchasing power (C+R Research, 2014). In addition to the Cars.com study, eighty-two percent of shoppers prefer to have a