1) What are the Various Target Markets for the New Beetle available to Volkswagen? Describe each both demographically and psychographically. What are the pros and cons of each option? What are the appeals of the new Beetle to each group?
a. Baby Boomers over 50, have nostalgia for the bug as this was most likely their first car and it will bring back fond memories of the past PRO’S: loyal following from their generation previously CONS: This demographic may want a different car if they have already had this car in the past b. The young generation looking for a car that promotes self expression PRO: longer lifetime value than the baby boomers CONS: This age group may not be able to afford this car c. People who want a unique experience, want to be different, looked upon as being “individuals” d. People looking for a car that’s nice yet affordable
2) What positioning (Marketing approach) options are available to Volkswagen for each of the target markets? Describe Each. What are the risks and opportunities of each? How would you differentiate each from competition?
e. Offer upgrades to the beetle Opportunity: This would cater to the baby boomer generation who can most likely spend more Risks: with these additions it would cost as much as a low end luxury car, which may make people want to stray to other cars in that sector. How to Differentiate: Offer upgrades at a lower cost to that of competitors costs f. More online advertising through social media Opportunity: to engage the younger generation. Risks: perhaps do not have the proper data collection on the younger generation social media lists who would be interested in a Beetle. Differentiation: Focus on the “feeling” the beetle gives you for the younger generation and the “nostalgia” the beetle provides for the older generation g. Joint campaign with Apple Partner with apple to offer a free iPad with a purchase...