Vehicle Target Markets

Vehicle Target Markets

Name

University of Phoenix

MBA 570

Date

Vehicle Target Markets

The purpose of this analysis paper is to discover the differences and similarities between the target markets of a Nissan Sentra, a Ford F-150 truck, a Dodge Grand Caravan, and a BMW Z4 Roadster.

The automobile industry has always tried to target groups of people that would be able to afford the sticker prices of vehicles being produced. Here are the target markets defined with the cars selected.

Nissan Sentra

Nissan Sentra is a compact Sedan that has a base price of $15,750.

Features include: "a wide array of optional premium equipment - leather-appointed seating, Intelligent Key keyless entry system, Bluetooth Hands-Free Phone System and premium Rockford Fosgate-powered audio system with 6-disc autochanger, 8-channel amplifier and 8 speakers." Also the car gets 33 MPG from a 140 horse power 2.0 four cylinder engine that relies on a six speed manual transmission and six air bags. (2006)

The target group here is the single high school or college students (16-25 years old) that want to carry everything around and not miss out on any social gatherings. The car is being sold as a mobile knap-sack for those that are socially busy. The divide and hide trunk resembles a mobile locker of sorts. The idea is to be able to live out of the car that competes with the Toyota Corolla and Honda Civic. The focus is "to bring a new level of style, roominess, responsiveness and versatility to seduce this time the young social target buyers, not just convince them with its price and reliability." (2006)

Ford F-150

Ford F-150 is a truck designed hauling and off-road adventures. The base price is $17, 520 up to $36,000. Features include seating for six, 18-21 MPG, towing capacity of 9,500-11,000 lbs. This product is designed for pulling toys and for the working class of men. The target market is middle aged males between the ages of 26-54 years old with an income of between $40,000-$75,000. It defines the target buy showing that it "hauls more, tows more" and is "built for more." (2008)

Recent media events claim that "Ford's goals included:

* Reach Ford's target audience of truck buyers (males ages 25-54),

* Create brand awareness and differentiation to maintain leadership position,

* Build critical sales of the new F-150 model." (2006)

Dodge Grand Caravan

The Dodge Grand Caravan is being sold as the best selling mini-van with both front and side crash test ratings of five stars. The Caravan starts at $22,470 as an affordable family vehicle designed to entertain he kids with dual TV screens and table it is made for travel and family comfort. The target group appears to be mothers and minority groups with a mid range income. Targetmarketnews.com is quoted as stating that "Chrysler said the Grand Caravan advertising campaign would be a "celebration of moms and families" and aims to position the minivan as the "ultimate family vehicle." The automaker will reach out with a Mom Test-drive program, blogs" Chrysler has made plans that include "... reaching out to women as well as African-American and Hispanic consumers." (Valcourt, 2007)

BMW Z4 Roadster

BMW Z4 Roadster is the "power to free yourself" This sports coupe starts at the price of $36,400. It gets 28 MPG, and seats only two. It is a convertible meant to appeal to the upper class and retirement age person that is looking to be like a child. "If, on the other hand, you want to emerge from every drive, giggling like a kid, sweating, slightly juiced and with a grin big enough to post a wok into, get down to your BMW dealer now." So the kids have moved out and old couples being to live like kids again. (2006)

Similarities

* Target markets need transportation.

* Each is designed for a different target market.

* Each is advertised in a manner attracting the market targeted.

* Target