Marketing Essay Example on Kia Stinger

Published: 2022-03-21 21:50:39
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Target Markets

The Kia Stinger targets the individuals who are moving up with cars like Toyota Camry, Nissan Altima, and Honda Accord. The people moving in these types of vehicles are the ones who can afford 2018 Kia Stinger. Additionally, the car is modeled in a way that it fits the individuals moving in the above types of vehicles. The stringer's value and performance make a strong case for the buyers who are looking to set up. It also targets individuals who need smart, comfortable, economical, custom, and a sports car (Bonani, 2017).

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Product Review

Product features

This product is a little ballsy, and it has a swagger styling to the hatchback body to a rear-drive platform (2018 Kia Stinger GT | Sports Sedan - Model Overview| Kia, 2018). The vehicle has a front engine, four-door hatchbacks, five passengers, and all-or-rear wheel drive. It has a 114.4-inch wheelbase that is four inches which is shorter than that of Porsche Panamera and longer than that of 3-series. The seats and the hatchback body are hailed for low positioning. It has a length of 190.2-inch, width 73.6, and 55.1 height. The passenger volume is 98 cu ft while the curb weight is 3650-3900 lb ("2018 Kia Stinger GT | Vehicle Features | Kia", 2018). Its top speed is 130-167 mph.

The base engine of the car is 255-hp turbocharged, 360-hp twin turbo, and 2 liters inline four. Another feature is 7-inch touchscreen and driver aids which include automatic emergency braking, lane keeping assist, and adaptive cruise control ("2018 Kia Stinger GT | Vehicle Features | Kia", 2018). The 2018 Kia Stinger also has a custom mode which gives the drivers a chance of tweaking engine and the transmission responses, engine sound enhancements that is accomplished by its audio speakers, steering efforts, and damping rates.

Competitive Review

The main competitors are 2018 BMW series, 2018 Lexus IS, and 2018 Mercedes Benz C Class.

Competitors Product Features

BMW 2018 BMW 3 series The car makes it a strong case in performance for the luxury compact attention of the buyers. The gas mileage is 43MPG Hwy and 20 MPG City while the engine is Intercooled Turbo Premium Unleaded 1-4. It has a rear wheel drive, it is a compact car, its body style is Sedan, and it has an automatic w/OD (Bell, 2018). The passenger capacity is five.

Mercedes Benz 2018 Mercedes Benz C Class It is expensive and not very large. It has a fabulous style, fantastic power, and grip (Bell, 2018). It also has an Intercooled Turbo Premium Unleaded 1-4, its class falls in compact cars, the style name is C 300 Sedan, it has a rear wheel drive, body style is a sedan, the passenger capacity is 5, and it has an automatic w/OD. The gas mileage is 33 MPG Hwy and 17 MPG City.

Lexus 2018 Lexus IS The transmission of 2018 Lexus is automatic w/OD, the body style is a sedan, passenger capacity is 5, and it has a rear wheel drive (Bell, 2018). The other important features include having an Intercooled Turbo Premium Unleaded 1-4 engine and it falls under compact cars. The gas mileage is 32 MPG Hwy and 19 MPG City

Channels and Logistics

STRENGTHS, WEAKNESSES, OPPORTUNITIES, AND THREATS ANALYSIS

Strengths:

1. High quality

2.increase in demand for luxury vehicles

3.Good acceleration

Weakness:

1. High price

2.Lacks luxury

3.It has a rough-edged limit handling

Opportunities:

1. Growing market size

2.Changing lifestyle

3.Strategic alliances

Threats:

1. Strong competitors

2.Volatility in the price of fuel

3. Sluggish economy

Table X -Title SWOT analysis summary

Strengths

High Quality: The product is of high quality as it is vibrant, distinctive, and reliable (Clarke, 2017).

Increase in demand for luxury and sports vehicle: There is an increased demand for leisure and sport, and 2018 Kia Stinger is one which is a strength.

Good acceleration: The car has a good acceleration which makes it unique.

Weaknesses

1. High price: The price of the car is 5% higher than that of the competitors.

2.Lacks luxury: The vehicle lacks luxury, and it may not do well as most of its target market needs luxurious cars (Clarke, 2017).

3.It has a rough-edged limit handling.

Opportunities

1. Growing market size: The automobile sector has increased since 2012 and entering markets like BRIC and Asian countries will lead to an upsurge in demand for the car.

2.Changing lifestyle: The three dominant forces that roll in the auto industry include expanded regulatory requirements for safety economy, consumer demand, and increased availability of information (Clarke, 2017). The change in lifestyle make consumers demand unique and reliable cars.

3.Strategic alliances: Making strategic partnerships can help in marketing the car.

Threats

1. Strong competitors: There are some competitors in the automobile industry, and this result is in high competition.

2.Volatility in the price of fuel: The amount of fuel is a determining factor for the growth of 2018 Kia Stinger.

3. Sluggish economy: Recession, unemployment, and macroeconomic uncertainty are some of the economic factors that have been affecting the automobile industry.

MARKETING STRATEGY

Positioning

The product is promoted through electronic, print, and social media. An ad that is related to this product can be found is Twitter, Facebook, Youtube, and online banner (Bonani, 2017).

Product Strategy

The product is of high quality. The car is vibrant, distinctive, and reliable. It is dynamic in delivering inspiring customer experience the product has a unique design, enjoyable services, and smart technologies.

Pricing

The pricing of the product was identified by first targeting the right market and setting up efficient pricing strategy. After analyzing the market conditions, the company seeks to know how much a customer is willing to spend on the product. Competitive pricing policy is used when setting prices as there is high competition from rival products.

Distribution Strategy

The product is available for users in different countries. Additionally, one can order, and it can be shipped to one's home country. However, the headquarter of the company is in Seoul in South Korea. The sales and distribution of the car are done by Kia Motors situated in America (Bonani, 2017). The distribution channel of the company includes dealers located in over 180 countries.

Marketing Communication Strategy

The marketing communication strategy of 2018 Kia Stinger is through advertising, direct sales, public relation, and promotion.

Reference

Bell, K. (2018). 2018 Kia Stinger vs. BMW 3-Series, Cadillac ATS, Jaguar XE, Lexus IS, Mercedes-Benz C Class - The Car Connection. Thecarconnection.com. Retrieved 20 February 2018, from https://www.thecarconnection.com/compare/kia_stinger_2018_choices

Bonani, L. (2017). 2018 KIA Stinger makes world debut at North American International Auto Show.

Clarke, W. (2017). 8 Great Traits of the 2018 Kia Stinger... and a Fatal Flaw. NY Daily News. Retrieved 20 February 2018, from http://www.nydailynews.com/autos/street-smarts/8-great-traits-2018-kia-stinger-list-article-1.3560757

2018 Kia Stinger GT | Vehicle Features | Kia. (2018). Kia.com. Retrieved 20 February 2018, from https://www.kia.com/us/en/vehicle/stinger/2018/features

2018 Kia Stinger GT | Sports Sedan - Model Overview| Kia. (2018). Kia.com. Retrieved 20 February 2018, from https://www.kia.com/us/en/vehicle/stinger/2018/overview

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