Marketing background of a company plays a very important role in the business process. If the marketing background of a particular company is known to all the customers it would be helpful for them to compare the quality and the pricing of the products with the other competitive organisations. It also states the marketing background of a car manufacturing company of UK, namely Jaguar. This study helps to understand the products of the company and pricing strategies. Moreover, the report includes the targeted customers of Jaguar, pricing strategies, marketing mix and recommendations for improving the marketing policy.
Since 2015, Jaguar has made a good position in the automotive marketing industry of United Kingdom (Jaguar UK, 2017). Not only in UK but also it has several branches all over the world and tries to maintain its good reputation over the years. Once again, in 2017, the company has become successful in the competition with the other rival organisations. The main reason of becoming successful is the production of domestic cars in the year of 2016.
Jaguar has a good reputation in sustainable practice. As per Miquel-Romero et al. (2014, p.665), the main aim is to maintain a balance between the social, economic and environmental elements in order to satisfy the customers at a global range. Since the year 2003, the company has adopted a new strategy of making lightweight cars with the help of biodegradable metals in order to reduce the environmental pollution (Jaguar UK, 2017). The company uses a maximum of its revenue for making eco friendly engines, which emit less carbon dioxide and reduce the air pollution.
The main target audiences of Jaguar are the people over 40 years of age with the high record of retail customer (Jaguar UK, 2017). The slogan of the company is “Born to Perform” is unable to meet the customer's’ needs in the recent time. One of the best products of the company was Jaguar XJ, which was not up to the mark.
According to Möller and Parvinen (2015, p.10), there are several rival companies of Jaguar in the market like, BMW and Mercedes. The marketing department of the Jaguar needs to position the products with higher brand value compared to the products of the rival companies. Positioning strategies, which can make the company different from its rivals, are styling of the cars, brand image, promotion process, marketing and most importantly the performance. As demonstrated by Banterle et al. (2014, p.115), all the factors are very important in order to make good revenue in the competitive market.
Jaguar provides its targeted customers with a huge range of products. In 1999, Jaguar published the first car model, namely S-Type. This model is no more in the market and several other models have taken place of it. The recent models, which are currently helping the company to gain its revenue, are F-Type, Jaguar XE, XF, XJ and R models (Jaguar UK, 2017). These models are highly successful in fulfilling the customer’s demand and make them satisfied.
Three key elements of product policy of Jaguar are dependability, quality and reliability. In opinion of Rothaermel (2015, p.55), Jaguar makes the cars as per the order of their customers. Therefore, the customers do not need to wait for the products for a long time. The CEO of the company has stated that their motive is to satisfy all the customers with a very good experience. Before getting published in the market, all the products have to go through several steps like checking, double checking, necessary steps if required and finally the remedy of the problem.
The basic pricing strategy of Jaguar is cost or price based. Super premium pricing is the basic idea of the pricing strategy. The products are very expensive but they have the competitive pricing compared to the rival organisations. As per Aamodt (2016, p.52), tThe company follows the same pricing strategy for all the countries irrespective of the financial condition of the citizens. For instance, Jaguar has office in India. India is a developing country with poor financial condition compared to that of UK.
Jaguar is such a company, which has several branches across the world. Since 1993, the company manufactures several cars in order to satisfy the customers. The company has faced a lot of challenges in product pricing and acquiring the strategies for new product pricing. The first model of the company was Jaguar S-Type, which served the customers till 2008 and after that has gone out of market. After the first model, the company has introduced several new models to its customers. While fixing the price of the new models, the managing committee of Jaguar has experienced several challenges. The main threat was the competitive price range of the rival products, which are not worth to the product quality of Jaguar.
Jaguar has a good reputation of producing fast, smooth and luxurious vehicle for their customers. Unlike BMW, Jaguar has a particular class of target audience, who can spend a lot of money on their private vehicles. The vision of the company does not involve the mass. Apart from this, the company is unable to provide the customers with higher mileage at a low price. According to Raslavičius et al. (2015, p.788), not only the maintenance cost, the customers and the users also need to spend a huge amount of money on petrol and diesel. In spite of the high cost, Jaguar has become successful in the competition with the rival company BMW.
It is very important for any company to adjust the product price according to the needs of the customers. Jaguar is not an exception. Though the target of the company is class instead of mass, they try hard to meet the customer satisfaction. Sometimes, the customers demand less expensive products with higher market value and product quality. These are the situations, where Jaguar has failed to satisfy their customers. The company needs to pay more attention on the adjustment of normal prices of the products along with the other strategies.
As per Griggs et al. (2013, p.306), in order to promote a clear concept of clean environment, efficiency of the cars and the quality of the cars, Jaguar has applied some important designing prices in the process of their production. All the workers associated with the company get a clear idea about the pricing of the products and other factors.
After manufacturing of a product, the promotion comes in the scenario. As demonstrated by Holden et al. (2017, p.225), it is the responsibility of the manufacturers to let the customers know about the launching of that product. The manufacturers can use different ways for the purpose of promotion. These activities include advertising, online marketing and public relation. Jaguar has used all the possible ways of promoting a product. They have hired specialists for public relationship and acquired the online marketing strategy for the best result.
Along with the home country, Jaguar has grown its market in the Asian countries also. With the growth of the smaller markets, the company has opened more dealerships and showrooms according to the requirement. The company has selected some particular channels for the distribution purpose (Jaguar UK, 2017). The two key elements of distribution are:
1. Maintaining exclusivity
2. Selective Distribution
BMW is the main rival of Jaguar in the automotive car manufacturing industry. As per Mintz and Currim (2013, p.39), BMW targets the mass of the country, whereas, Jaguar targets only the class, who are able to spend a lot of money on their vehicles. Due to this reason, BMW has an advantage over Jaguar. Still Jaguar has not compromised the quality of the products in order to maintain the competitive price. Another rival company is Mercedes. Unlike BMW, Mercedes does not target the mass and makes the market of Jaguar more competitive.
From the course work, it is clear that Jaguar needs some improvement in its marketing strategy. First, the company needs to pay attention on the all customers who have a desire to buy their products but are unable because of the higher price. Another improvement is required in the area of mileage. After spending a huge amount of money o the maintenance of the car, customers often refuse to pay frequently on petrol and diesel. Due to this particular reason, the company got a bad reputation in the market. These are the recommendations for the betterment of the marketing background of Jaguar.
In order to get a clear idea about the marketing background of a company the past results and a detailed analysis is very important. This study helps to understand the products of the company and pricing strategies. Moreover, the report includes the targeted customers of Jaguar, pricing strategies and marketing mix. The study concludes with the recommendations for the betterment of the marketing background of Jaguar. If the marketing background of a particular company is known to all the customers it would be helpful for them to compare the quality and the pricing of the products with the other competitive organisations.
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