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MARKETING & MANAGEMENT

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Introduction

Marketing and management skills play an important role in the context of organizational performance. This study is intending to evaluate the marketing strategies of an organization in the context of its management and organizational practices. This study will revolve around Collins Honda to discuss the marketing and management practices. This will evaluate the marketing strategies of the organization along with its macro and microenvironment.  It is also willing to analyze its market as well as respective industries. Based on the research, a recommendation will be provided in order to increase the effectiveness of the marketing and management practices of Collins Honda.

Part-1

Car leadership Market Audit: Car leadership market provides independence to Australian customers. Like other industries car industry of Australia has major impact on the market. Australian Motors Group sales used car to Australian customers. For that they have to figure what they could do to the company. Car dealership is local distributor of car who sells cars among the particular area. On very first the car dealer used to use many channels to sell the cars which include departmental stores, traveling representative, and mailing order. Direct sales by car makers to consumer were less. As suggested by Huang & Sarigöllü (2014), car dealer is mainly there for selling part. Most car manufacturers came from servicing and use cars and less from use cars. Most manufacturers wanted to shift their focus from franchising to technology and branding. Used car industry has represented the main part of the automobile industry. This market is larger than other big retail sectors. Used car retailer recommends the potential customers to see the reputation of the before buying a car. Used car price is based on the license of the car. Dealer gives the price to the customer.  The major growth of internet has increased the used car selling. Before the internet era, the information was only available in dealers.

Collins Honda offers their customers cars with efficient quality from inside. This could be counted because of the implication and application of modern technology in the organizational process. They offer a wide range of cars and SUVs. In order to earn customer feedbacks and win their belief, Collins Honda provided valuable and unbiased information about the vehicles including their competitor’s.  The organization is putting emphasis on the application of modern technology and safety of the customers and their service reflects these policies. As suggested by the provided data, it has been recognized that the market of used car has been increased by 2% in 2016 compering with the data of 2015. This increment suggests the growing interests of the companies in the market. Toyota Hilux is the major competitor for the Collins Honda in this aspect. Regarding the Australian market, New South Wales has shown a great improvement in the market, whereas there is a massive downfall in Western Australia. Business purpose and private purpose are the major target market for the second-hand car in the market of Australia. It has been also targeted by Collins Honda as its target market. The size of business purpose of this market is 41.2 % in 2016 which was 4.2% more than the market size of previous year. On the other hand, private purpose has been facing a downfall as it reached 49.9 % by facing a downfall of 4.1% (acaresearch.com.au 2018).

Part-2

Market analysis

 

The market of a business varies from place to place depending on a number of factors which are given below.

Demographic: Democracy in Australia influences any business to grow at a faster pace. According to Gerring et al. (2015), the influencing factors of democracy are income and age of people. In Australia, the percentage of people of age group 24 to 45 is 30% which boosts the workforce in Australia. Collins Honda Found the demographic factors as the positive side in order to give growth to the business in Australia. The human resource management of Collins Honda found it easy to find proper skilled and talented worker in order to give a better service to the consumers in Australia.

Economic:  Increase in the GDP talks about the economic development of Australia. From the year GDP of Australia is increasing at a faster pace which crossed 1.5T in the year 2010 (aph.gov.au, 2018). This economic growth of Australia implies the economic growth of the people of Australia. As suggested by Bussière, Delle Chiaie, & Peltonen (2014), this has worked as the key point for increasing the expanse of people of Australia. From the year 2005, it is seen that sell of cars has also increased which has given growth to the automobile industry and the bodies related to automobile industry.

Technological: Technological advancement has somehow affected the business of used car selling. In the new generation, the cars come with great facilities in a compact package. As mentioned by Elliston, MacGill & Diesendorf (2014), technological advancement made some of the car manufacturers to develop new technology and design to manufacturing new cars according to the trend. This system affected the availability of the spare parts of the old vehicles. This has left a negative impact on the mind of the consumers in order to buy used old cars.

Legal: Australian National consumer law has regulated the sells process of used cars in Australia which has categorized the used cars depending on the required repairs. It has restricted the dealers of used cars to sell the providing required essential repairs and guide the consumers in a right way (accc.gov, 2018). Collins Honda maintains the rules and regulations on the customer affairs and gives importance to the quality of the service which has to build a trust in the mind of the consumers which has helped Collins Honda to expand its Business.

Natural: Nature of Australia works as the positive factor in order to inspire the people to go for long rides and use cars. People of Australia do not live in an area which does not arise any problem to keep cars at the residence.

Socio-Cultural: As mentioned by Parvazian, Gill & Chiera (2017), there is a tendency in the mind of the people to use cars which provokes the people of Australia to buy Cars.

Political: Political instability leaves an effect on the economy of Australia which affects the growth of any industry in Australia. It is expected that if the Coalition form government in Australia might face a hike in GDP by A$ 50 billion. This might help in increasing the business of Collins Honda.

Part-3

Audit

The company is maintaining general account to follow its accounting records which include asset liabilities, revenue, owners’ equity and expenses. The 4ps strategy of marketing models describes product’s USP, and how is different from the other market competitors. These 4Ps are as follows.

 Product: first one of the four Ps of marketing is product. Product of this organization is car. According to the words of Mintz & Currim (2013), this service fulfills the need of the service user. A car is a luxury item; this company mainly provides it for their customer. Honda sales best product around the globe that is the proof this product is unique. Car marketing strategy starts from the core of the product function. The car benefits the customer to maintain their economic status.

Price: Price is the second major part of marketing. Core understanding of the product offers to establish make the decision about pricing of the product. Price determination has its impact on the company profit, supply, and margins. As the car is the product it’s pricing based on the technology that has used in the car. It also determines the competitors' price. Car brand may need to be positioned based on varying technical price points.  Price has influence on other 2Ps of marketing strategies.

Promotion: When product and price are determined, the third part of the marketing is Promotion. Promotion includes the several ways of marketing. In the word of Khan (2014), in promotion part Company needs to identify the USP of the car and how it is different from other cars. Promotion involves elements such as advertising, social media marketing, video marketing, email marketing, public relations, search engine marketing, and other marketing strategies. Each touch point must be supported by a well-positioned brand to truly maximize return on investment.

Place: Place is major part of the marketing. As this affects the market majorly the company have selected best place to start their company. They have included online selling process to target more potential customers. Though it is critical find exact marketplace this company made the solution of this problem by giving online marketing option. As suggested by Zott & Amit (2013), in these days situation, it is difficult to complete transaction online this company made some technical part to support and complete this process.

Car dealership industry rank top among the business industry. SWOT analysis helps the dealers to sense the strength, weakness, opportunities, threats of the company. It will help this organization to be in the best position to mitigate the challenges. This SWOT analysis differs if the market changes.

Strengths: Colin Honda needs to set goals different from other competitors to see the strength. As the price of the used car is less than new car and quality the company provides same as the new it gives them a major strength. Colin Honda gives the customer several types of vehicle which is the biggest advantage of the company. This company also sell electric and hybrid car in the company to provide the customers who prefer green vehicles. SUV cars are more relevant for the families that are why customer with big families selects it.

Weakness: Buying used sometimes can be risky because its quality has not checked sometimes. Sometimes it is difficult to negotiate fair pricing as the customer wants to buy the car with low amount of cost (Yang et al. 2014). If the company does not research well about the car it can be major failure. Market location where the company is situated can be a big weakness. But Collins Honda does not suffer from this weakness.

Opportunities: Collins Honda gets opportunities by the different manufacturing company, such as dealer incentive which helps to reduce care costs and also helps the dealer to save the money to pass on the customer by giving discount. This dealer seizes the opportunities to set them out from the competition. This organization stands out from the competition by offering licensed car with warranty to the customer.

Threat: Economic condition can be the major threat to the Collins Honda Company. Economic condition can create gas shortage and raise the price (Yuan, 2013). Used car dealer needs to find better economy to sustain their business. Rival car dealers can be threat to the company. 

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