10 step marketing mark lee

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10 STEP Marketing Plan for Mitsubishi Montero Sport

Mark LeeOctober 29, 2010

5 Steps for Part 1(PTM and positioning)

1. Primary target market are SUV enthusiasts

2. Who need an affordable but luxurious, stylish and durable SUV

3. Toyota Fortuner is the close competitor

4. The gap is the safety feature 5. Market size is 2nd to Toyota

5 Steps for Part 2(Marketing Mix & Strategy)

6. Mitsubishi Montero Sport comes in Gas, Diesel, 4x2 and 4x4

7. Price is at par with closest rival 8. 0% interest installment, TV ads,

test drives 9. Nationwide 10. Uses a differentiation approach

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Positioning to the Primary Target Market

Part 1:Steps 1 to 5

1.Mitsubishi Montero’s primary target market (PTM) are the SUV enthusiasts

Demographics (26 above, M/F, social class AB, single or married))

Lifestyle (hobbyists, businessman, car enthusiasts)

Behavior (buying cars once every 2 years, car loan, first car)

I have a safe car

I have a new luxurious car

2. My PTM’s NWE

Car buyers needTo belong (social), Self-Esteem, Self

actualization

Car buyers choose Mitsubishi Montero Sport because of safety, prestige, luxury, comfort and price

Car buyers expect to have a smooth drive, safe drive, fuel efficiency and luxury within bidget.

3a. Mitsubishi Montero has many formidable competitors

Direct: Toyota Fortuner, Isuzu Altera, Ford Everest

Indirect: other non- SUV cars

Variables: Age, Price, packaging, specific use, convenience of use, availability, Occasion of use, brand

Mitsubishi Montero positioned itself as a differentiator.

Price/ Age Matrix

0-13 yrs 13-24 yrs 25-49 yrs 50yrs up

High price

Low Price

Montero

InnovaViosFortuner

Price vs. Age Matrix

4. Mitsubishi Montero positions strongly in a differentiation market opportunity

Mitsubishi Montero Sport is the only SUV that

Rated highest when it comes to safety Luxurious design with affordable price Most comfortable SUV in its category

Toyota Fortuner is the nearest competitor.Advantage of engine mechanisms.

5a. Estimate the market size using competitor data

1. With 2008 sales of close to 50,000 units, the country’s top auto company is poised to corner about 40% of the market

2. Toyota also sold the most number of commercial vehicles at 29,808 from 24,340 in 2006 for a market share of about 39%http://www.gmanews.tv/story/78509/toyota-philippines-

eyeing-10-hike-in-saleson-brisk-economic-activity

5b. Estimate the market size using company data

Honda Cars Philippines, Inc. came next to Toyota in vehicle sales, selling 17,321 cars from 13,885 in 2006. It cornered 15% of the market.

Mitsubishi Motors Philippines Corp. was third with 15,005 vehicles sold from 12,518 in 2006.

5c. Estimate the market size using customer data

1. Usage per day or per year

Customers buy a car once every 2 years or once a year

5. Motor vehicle market

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The Marketing Mix Strategy

Part 2:Steps 6 to 10

6a. SUV category is dominated by 4 major brands

6b. Product Description

Basically, the 2009 Mitsubishi Montero Sport is a medium-sized SUV with a ladder-type chassis that is available with either a 4X2 or a 4X4 drivetrain. There are three variants available: the basic Montero Sport GLS 4X2, the mid-range Montero Sport GLS 4X4, and the top-of-the-line Montero Sport GLS SE 4X4.

7. Price

The price of the 2009 Mitsubishi Montero Sport GLS 4X2 is PHP 1,330,000, while the GLS 4X4 will set you back PHP 1,500,000. The GLS SE 4X4 tops them all at PHP 1,680,000.

8a. Promo

8b. Competitor promo

9. Place

10. Mitsubishi Montero

Mitsubishi Montero’s main strategy is to dominate the differentiation market of SUV enthusiasts.

It benefits from the distribution leverage of Mitsubishi Motors, Diamond Motors Philippines.

Has an excellent, premium priced, excellent product distributed nationwide.

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SUMMARY

5 Steps for Part 1(PTM and positioning)

1. Primary target market are SUV enthusiasts

2. Who need an affordable but luxurious, stylish and durable SUV

3. Toyota Fortuner is the close competitor

4. The gap is the safety feature 5. Market size is 2nd to Toyota

5 Steps for Part 2(Marketing Mix & Strategy)

6. Mitsubishi Montero Sport comes in Gas, Diesel, 4x2 and 4x4

7. Price is at par with closest rival 8. 0% interest installment, TV ads,

test drives 9. Nationwide 10. Uses a differentiation approach

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10 STEP Marketing Plan for Mitsubishi Montero Sport

Mark LeeOctober 29, 2010