10 step mktg plan mitsubishi mirage #15 mimistodomingo

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10 STEP Marketing Plan for Mitsubishi Mirage

Mimosa O. Sto.DomingoOctober 2013

This 10 Step Marketing Plan is part of the mandatory requirements of Prof. Remigio Joseph De Ungria’s AGSB marketing management class.

The data included in this report are based on publicly available data such as those on internet websites, news, package declarations, public reports.

When appropriate, data are “masked” so as not to create unexpected conflicts.

Disclaimer

1. Mitsubishi Mirage PTM are price-conscious young professionals situated in the city2. Who are after safety, fuel economy and comfort3. Can choose between Hyundai i10 and Suzuki Celerio 4. Gap is the perfect balance between standard equipment, price position, fuel efficiency and safety features5. The 2013 industry target sales is 210,000 units; Mitsubishi holds a 34% market share –71,400 units (source: http://www.mb.com.ph/roadmap-sees-300k-auto-market/)

Steps 1 to 5

Back to basic…

6. The Mirage is a small car that makes a big statement

7. Priced between Php 503,000 to Php 648,000 (source: http://www.mmpc.ph/pricelist.php)

8. It uses personal selling, advertising, sales promotion, events and experiences and interactive marketing

9. Has dealership nationwide and has international presence

10. Uses the Low Cost Producer strategy

Steps 6 to 10

SMALL is the new BIG

1. Mirage PTM are price-conscious young professionals

25 – 35 years old, single, slotting between the A and B car segments

Living in the city First-time car owners who doesn’t

care much about style but rather efficiency and reliability

Middle-income earners

Young professionals are starting to sort their priorities

6Reference: Maslow’s Hierarcy of Needs Marketing Management, 11th ed, Philip Kotler

They declare their independence

They look after themselves

2. Young professionals have practical needs, wants & demands

They look after their security and are gaining higher self esteem.

They prefer Mirage for it provides them mobility and it gives value to their money

Simple and honest car that doesn’t try to be something it is not

3a. Mirage has a fair share of competition

Direct: Hyundai i10, Suzuki Celerio

Indirect: Mini, Sedan

Variables: Budget, Features

Price

Engine

400k – 500k 501k- 600k 601k-700k

1.1L

1.2L

In terms of price and engine

Costumer Service Index for PH auto brands

Factors

Service Quality

Service Advisor

Vehicle Pick up

Service Initiation

Service Facility

as of 2013

Benefit Positioning vs. Brand Matrix(ranking - 1 as the highest)

Functional benefits Mitsubishi Mirage

Hyundai i10

Suzuki Celerio

Carmaker

Engine 1.2L 1.1L 1.1L

Legroom and headroom

1 3 2

Spacious cabin 1 3 2

Higher resale value 1 3 2

Fuel efficiency and eco friendly

1 3 2

4. Mirage is built on the philosophy of keeping things simple, affordable and efficient

It portrays a very minimalist design, with simple and conservative styling, “frill – free”

It has lost the edgy character of the previous-generation Mirage

“World-class environment performance” is its main selling point, a.k.a. “eco-car”

5a. Automotive industry roadmap estimates a 210,000 units domestic market in 2013

2014 – 2016: 30,000 additional units / year YTD September 2013: 153,143 units

Market Share Standing:1. Toyota Motors Philippines 43%2. Mitsubishi Motors Phils Corp 24%3. Honda Cars Philippines 8%4. Ford Motor Philippines 7.3%5. Isuzu Philippines Corp 6.6%

5b. Using Mitsubishi Mirage data, market size is estimated at 204,672 units

August 2013Units sold – 5,305YTD Ranking – 5th.Market share – 4%YTD Total: 136,448

2013: 204,672

5c. Consumer data indicates a market size of 174,930 units

August 2013:Personal car sales is at 5,122 units, up by 46.3% from last same month last yearCommercial vehicle sales rose to 8,578 units Combined sales YTD August 2013 totaled 116,617 units

5. 2013 Market size in units

1. Competitor data= 210,000

2. Company data = 204,672

3. Customer Usage data = 174,923

6a. Photo of product category

6a. Mirage vs. i10 vs. Celerio

6b. Small but able

6b. Small but able

6b. Small but able

7. Price range is 488K – 648K

Mitsubishi Mirage Hyundai i10 Suzuki Celerio

MODEL /

ENGINE

GLX (MT)

GLX(CVT)

GLS(MT)

GLS(CVT)

GL(MT)

GLS(MT)

GL(AT)

GLS(AT)

GA(MT)

GL(AT)

1.1 488,000

528,000

558,000

598,000

498,000 579,000

1.2 503,000

553,000

598,000

648,000

Average Price

575,500 543,000 538,500

8a. Mitsubishi uses variety of channels to connect

2

4

1

3

5

8a. Advertising – TV Commercials

8a. Advertising – Print Ads

8a. Sales Promotion

8a. Events and experiences

8b. This is how competitors do theirs

8b. This is how competitors do theirs

9. The Mirage is available in dealers nationwide

10. This is how Mitsubishi Mirage drives

Low Cost Producer Production of the new Mirage will be

centralized at the newly built Factory 3 expansion at Mitsubishi’s Laem Chabang facility in Chonburi, Thailand.

The factory has a capacity of 150,000 units a year; a production run that nearly totals number of vehicle sales in the Philippines in a year.

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SUMMARY

1. Mitsubishi Mirage PTM are price-conscious young professionals 2. Who are after safety, fuel economy and comfort3. Can choose between Hyundai i10 and Suzuki Celerio 4. Gap is the perfect balance between standard equipment, price position, fuel efficiency and safety features5. The 2013 industry target sales is 210,000 units; Mitsubishi holds a 34% market share –71,400 units (source: http://www.mb.com.ph/roadmap-sees-300k-auto-market/)

Steps 1 to 5

Back to basic…

6. The Mirage is a small car that makes a big statement

7. Priced between Php 503,000 to Php 648,000 (source: http://www.mmpc.ph/pricelist.php)

8. It uses personal selling, advertising, sales promotion, events and experiences and interactive marketing

9. Has dealership nationwide and has international presence

10. Uses the Low Cost Producer strategy

Steps 6 to 10

SMALL is the new BIG