Product Strategy

Topics: Introduction, Ford Mustang, Chevrolet Camaro Pages: 2 (501 words) Published: November 9, 2008
Product Strategy

From customers' perspective, the benefits of owning a Camaro 2010 are that it gives a customer the pleasure of owing a luxury car with an affordable price of approximately $22,995. The purchase of this product can also benefit customers by saving their budget on gas due to its high fuel-efficiency for a sport car. Since this will be a new release of Camaro in a long time, rumors are going around and playing a huge role in its advertisement. This has a positive effect on attracting one of our targets, young adults, who value on getting an attention of opposite sex by having something perceived as “cool”. They believe that being an owner of a new sport car helps them to enhance their image and status. Our second targets, baby boomers, those who are born in the mid to late 50s, want their cars to represent their social status while still being fun to drive. Camaro 2010, a sport car with a high driving performance, fulfills both of their wants. Our third segmentation, success hungers, is desperate for something that can bring up their reputation and self-esteem, such as a sport car, which represents their success.

Although the first Camaro was introduced in 1966, the popularity of the brand still remains strong enough to introduce its new one, Camaro 2010. This suggests that Camaro successfully passed its introduction stage when its first generation entered the market as a competitor of Ford Mustang and managed to sell 7199 units in 1968. The growth stage for Camaro was when its sales kept increasing by 200,000 units per year in 1970s. Camaro reached its maturity stage in 1994 when they sold 110,000 units, which is the legendary record that has never been defeated. The model of Camaro almost stayed the same from 1999 to 2002 due to a decline in sales and a low expectancy of regaining its power back. GM made a decision that is to stop the production of new Camaros from 2002. This temporary termination of production indicated that Camaro had...
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