Alax Corporation - a sports cars manufacturer is in the field of manufacturing racing car for the last 120 years. 6 years back, it introduced a very expensive new sports car – CX09. The target market of this car was determined as very rich non-professional racers who want to enjoy speed and thrill on city roads. The distinctive feature of this car was that it could also be used for normal drives. Due to this feature, with the passage of time, CX09 has become a successful brand in the local market. Now, CX09 has successfully entered into the growth stage of its life cycle. Owing to rapid growth in the sales and its popularity, other local car manufacturers have also entered in this niche market. This has alarmed Alax as the competition may be intense in the days to come.
To cope with this situation, the Marketing Division of Alax is planning to organize a small conference to devise strategies. In the conference, the company is planning to invite a few students from local business universities. If you are invited there then what strategies at this growth stage of CX09, with reference to pricing and advertising, would you suggest to the company?
(Note: You must give your suggestions supported with logical arguments, only in bulleted form)
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thnx alot for ideas.
i think price skimming strategy will be used here
Please see my points and give comments
Farhan Karim Shaikh gud keep it up
solution is attach here plz prayer for me
the company should offer attractable product prices. > the advertisement should not only be for the richest people, all the classes which can afford should be offered with attracted prices and qualities. > the difference between the CX09 should be cleared, off course, in a positive way so that choosing the product could be made easy for the customer. >company should also work for the betterment of the product as there is always a space for the betterment.
junaid gud keep it up
GDP # 2 MGT211 Introduction To Business
Student ID#: mc120200074
Marketing Mix Strategy of CX09 Alax Corporation
thanxx for sharing
MGT211 Introduction To Business
Some Suggestions are by me
As per my understanding following points needs to be highlighted
1) Focus on innovation & creativity on the same product or develop new products
2) Focus on quality to keep customer satisfied
3) Security of own assets due to competition in the market!
4) Introduction of new economic version for other different market segments etc e.g. economy class
Following are my suggestions:-
a. Never compromise on quality to keep good name in market.
b Introduce new features and innovation this will help us to attract more customers.
c. Provide better/free after sale services for good customer relationship.
d. Introduce new market/sale strategy to attract more customers like "new offers", "lucky draws".
e. Efforts to introduce new version having similar features for lower economy class this will help us to save our assets.
thank u so much for the help :)