Chrysler Aspen Hybrid Suv
Essay Preview: Chrysler Aspen Hybrid Suv
Report this essay
Liberty University
Marketing Final Paper
BUSI520
May 10, 2012
Executive Summary
This paper will discuss the 2014 Chrysler Aspen Hybrid to be released in the fall of 2013. The paper will discuss the features of the vehicle and the marketing plan to be utilized by Chrysler. The Chrysler Aspen Hybrid is a luxury class sport utility vehicle that will provide many upgrades in the standard features package offered to the consumers. Chrysler will introduce the 2014 Chrysler Aspen Hybrid as a fuel efficient, environmentally friendly answer to the requests of todays consumers.
Chrysler Aspen Hybrid SUV
The product to be discussed for this report is the Chrysler Aspen Hybrid for 2014. The vehicle will be introduced as a luxury crossover hybrid. In an era when fuel efficient vehicles are in demand, Chrysler will introduce a vehicle that will meet the demands of the energy conscious without compromising style and comfort.
Chrysler Aspen Hybrid SUV Description
The 2014 Chrysler Aspen Hybrid offers a wide range of standard features in other vehicles considered upgrades and numerous upgrade options, to include, has 40/20/40 split heated bucket seats in the second row with enough room for eight to travel comfortably with adequate cargo space. The Aspen also has upgrades to the safety features as standard equipment options. The features include an Electronic Stability and Roll Mitigation and a Park Sense system (Chrysler Aspen, 2011).
Chryslers History
Walter Chrysler introduced the first vehicle in 1924, followed by his founding of the company in 1925. After many highs and lows over the years, Chrysler was purchased in 1987 by American Motors. After another series of financial hardships the company was purchased by Daimler-Benz in 1998. Daimler sold 100% of its stake to Cerberus creating Chrysler LLC, which was the first privately held American Auto Company in 50 years. (Ashmalla, Camp & Able, 2011, p. 164). Unable to overcome the financial issues, Chrysler took a government bailout in 2009, which was made possible by the investment of Fiat (Maynard, 2009).
The Traditional 4Ps
Product
The 2014 Chrysler Aspen Hybrid is a larger, luxury Sport Utility Vehicle, released to compete with the Cadillac Escalade and the Toyota Highlander. It will employ two-mode hybrid technology and standard features comparable to the upgrades of the other models. The 2014 will present a new design to appeal to consumers needs for luxury and space while going beyond their expectations with fuel efficiency.
Place
The 2014 Aspen Hybrid will be introduced at the 2013 Detroit Auto Show and then rolled out to select dealerships in the fall of 2013; however, all dealerships will provide an option for the customer to order direct from the factory. With the new age of social media, Chrysler will create websites to sell online nationwide. The online option will provide the customers with the ability to view inventory and parameters for feature options, to purchase the vehicle based on their needs.
Price
The Chrysler Aspen Hybrid SUV will be the leader in the luxury crossover category, combining space, luxury and power with the best fuel economy in its class. It will weigh less than a Cadillac Escalade with its unit-body frame design and provide a smoother ride. This, along with a more sophisticated hybrid engine will enable the Chrysler Aspen Hybrid SUV to offer unparalleled fuel economy of any luxury SUV in its class (Chrysler Aspen, 2011).
Promotion
The Aspen will be released into the market in a variety of ways. Chrysler, like other automakers, will have a marketing budget ratio based on revenue earned or approximately 2.5% to 3.5% of revenue (McKee, 2009). The promotions will be designed to get the Aspen Hybrid into the public eye for a new appreciation of what the vehicle has to offer. The vehicle will be taken to public road shows, malls and festivals to allow customer a first hand look at the luxury and performance it will offer. Advertisements will be placed on television and radio, as well as, web links to reach the various market segments. Radio announcements will be used due to the high exposure it provides and billboards and pamphlets will also be used to increase visibility and design appeal.
The New 4Ps
People
One of the most important aspects to the marketing plan for the company and the New 2014 Aspen Hybrid are the employees. Marketing can only be as good as the employees within the company (Kotler & Keller, 2012 pg. 25). Customers want to buy from people that they like and feel comfortable with. They want to work with a sales person who is knowledgeable and appears well. This is how the Aspen Hybrid will find life in the marketplace to meet the needs of the consumer and exceed their expectations; the employees involved in the sales transaction will be trained and provided information to set them apart from the other industry competitors. Processes
These processes allow Chrysler to market the Aspen Hybrid in a way that will catch the eye of the consumer and entice him or her to gather further information and make a purchase. Chrysler will use the information from the past failed Aspen release to effectively design a marketing plan that will reflect the needed improvements and bring better results for the 2014 Aspen (Marketing Simple, 2012). Chrysler has teamed up with the U.S. Environmental Protection Agency in commercializing a new hybrid technology aimed at increasing fuel efficiency in minivans and SUVs (Boudette, 2011, p. B4). Chrysler is listening to the demands of the consumer and collaborating with the EPA to provide consumers with a higher quality, greener and less expensive option. Resources and training will be implemented to develop a strong showroom floor team, as well as, an internet sales team. Although, there will be a cost to ensure proper development of the team, we can anticipate that the returns will be great as they will be able to address the customers with a strong competency level (Auto Solutions, 2011).
Program
The program to introduce the new Chrysler Aspen