TrueCar Marketing Plan
TrueCar Marketing Plan
TrueCar Marketing Plan Have you ever found yourself in the middle of purchasing a vehicle and wonder if you were getting a fair deal? TrueCar aims at alleviating that issue by providing consumers with real-time, pertinent data that better guides them through their purchase decision. Additionally, they have transformed the way dealers attract their customers and inevitably sell cars. The following paper will show how TrueCar has captivated the segment with their strategic marketing plan.
Executive Summary
TrueCar’s objective is to alleviate the stress of purchasing a vehicle by ensuring that their members receive a fair market price. In addition to the consumer benefits, they also strive on bringing customers to dealers by promoting their TrueCar Certified Dealer Network. With over nine thousand dealers, operating in fifty states, individual users now have the power of data at their fingertips (PR, N., 2014c). TrueCar uses an intelligent, data-driven online platform, operating on a common infrastructure, powered by proprietary data and analytics. In addition to their website platform, they also align their efforts with affinity group marketing partners such as USAA and Consumer Reports, financial institutions, and other large enterprises (i.e. Boeing and Verizon). By benefitting consumers with real-time purchase pricing along with estimated pricing on harder to find vehicles, in-network dealers get more visibility to well-informed consumers. The end result is a symbiotic relationship between the member and dealer; equating to a more satisfied customer and higher unit sales volume (TrueCar, 2014).
Mission
TrueCar’s mission is to transform the car-buying experience for consumers and the way that dealers attract customers and sell cars. They help empower their members by promoting a fair, market-based pricing strategy controlled by a data-driven process and platform. TrueCar benefits consumers by providing information related to the
TrueCar Marketing Plan Have you ever found yourself in the middle of purchasing a vehicle and wonder if you were getting a fair deal? TrueCar aims at alleviating that issue by providing consumers with real-time, pertinent data that better guides them through their purchase decision. Additionally, they have transformed the way dealers attract their customers and inevitably sell cars. The following paper will show how TrueCar has captivated the segment with their strategic marketing plan.
Executive Summary
TrueCar’s objective is to alleviate the stress of purchasing a vehicle by ensuring that their members receive a fair market price. In addition to the consumer benefits, they also strive on bringing customers to dealers by promoting their TrueCar Certified Dealer Network. With over nine thousand dealers, operating in fifty states, individual users now have the power of data at their fingertips (PR, N., 2014c). TrueCar uses an intelligent, data-driven online platform, operating on a common infrastructure, powered by proprietary data and analytics. In addition to their website platform, they also align their efforts with affinity group marketing partners such as USAA and Consumer Reports, financial institutions, and other large enterprises (i.e. Boeing and Verizon). By benefitting consumers with real-time purchase pricing along with estimated pricing on harder to find vehicles, in-network dealers get more visibility to well-informed consumers. The end result is a symbiotic relationship between the member and dealer; equating to a more satisfied customer and higher unit sales volume (TrueCar, 2014).
Mission
TrueCar’s mission is to transform the car-buying experience for consumers and the way that dealers attract customers and sell cars. They help empower their members by promoting a fair, market-based pricing strategy controlled by a data-driven process and platform. TrueCar benefits consumers by providing information related to the
References: Bernard, T. (2012, February 10). Car Dealers Wince at a Site to End Sales Haggling. New York Times, p. B1. Retrieved from http://www.nytimes.com/2012/02/11/your-money/car-dealers-wince-at-a-site-to-end-sales-haggling.html?pagewanted=all&_r=0 TrueCar.com Bloomberg Businessweek. (2014). TrueCar Inc. Retrieved October 5, 2014, from http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=TRUE Brin, D.W McParland , T. (2014, April 10). KINJA. The Truth About TrueCar Savings . Retrieved September 28, 2014, from http://carbuying.jalopnik.com/the-truth-about-truecar-savings-1559397086 Ward 's Dealer Business PR, N. (2014a, June 10). TrueCar Reaches 75% Of U.S. Households Through Its Affinity Auto Buying Programs. PR Newswire US. PR, N. (2014b, September 23). TrueCar Expands Dealer Council, Now Represents All Major Automotive Brands. PR Newswire US. PR, N. (2014c, September 25). TrueCar Certified Dealer Network Reaches All-Time High 9,000 Dealers. PR Newswire US. Ruggles, D. (2012). TRUECAR TRULY IRKS MANY DEALERS. Ward 's Dealer Business, 46(1), 17. C+R Research. (2014). The Digital Influence: How Online Research Put Auto Shoppers In Control. Retrieved September 24, 2014, from http://dealers.cars.com/assets/pdf/auto_marketing_digital_influence_study.pdf Edmunds.com Shepardson, D. (2013 , February 14). Urban Science. U.S Auto Dealers Raise in 2012. Retrieved October 7, 2014, from http://www.urbanscience.com/library/in-the-news/288-us-auto-dealer-network-rose-in-2012.html Guinvena , S Cain, T. (2014 , April 1). Good Car Bad Car. USA Auto Sales Brand Rankings - March 2014 YTD. Retrieved September 29, 2014, from http://www.goodcarbadcar.net/2014/04/usa-auto-sales-brand-rankings-march-2014-sales-figures.html Edgar Online Datamyx.com. (2014). Automotive Digest. A Guide to Data-Driven Marketing for the Automotive Industry. Retrieved September 27, 2014, from http://automotivedigest.com/wp-content/uploads/2014/04/Datamyx-Study.pdf