Executive summary This report will be utilised to attempt to develop a marketing strategy for Mitsubishi motors to further understand their current situation. The product that is being used in this report is the Mitsubishi Lancer series. The report has three components to it: The first section will analyse Mitsubishi Motors as it is currently. Looking at the company as a whole and different reasonings behind why Mitsubishi motors must adapt to new environments. These could include changes to rules and regulations, public opinion and technological advancements. Mitsubishi motors tried to appeal to all these influences to provide the most appealing and affordable products for their consumers. The second connection refers to recommendations and research in which Mitsubishi motors can undergo in order to better understand their consumers and understand whether their product is competitive within the market. The third section refers to the breakdown of the market components. It covers appeal, affordability and use. These components allow for a more precise breakdown and allow for further understanding of the market. Continuing the analysis of the segmented market, they are broken down into subcategories of a fairer deal, socially aware and basic needs. These segments analyse how Mitsubishi can expand their market by appealing to these characteristics. 1 | Pa ge
Table of Contents Introduction. 3 Section 1: THE MARKET PLACE AND INFLUENCING FACTORS 3 Mitsubishi motors 3 Beginning of the Lancer. 4 Trends .. 4 Safety. 4 Law changes. 4 Key competitors 4 Subaru 4 Honda 4 Table 2 Competitor analysis. 5 Other factors. 5 Trend with demographic groups. 5 Trends with Technology. 5 Section 2 RECOMMENDATIONS FOR ADDITIONAL MARKET RESEARCH. 6 WHY AND HOW? 6 Section 3 CONSUMER SEGMENTATION 6 Table 3 Consumer characteristics 6 Table 4: segmentation framework for Mitsubishi motors Lancer series 7 Segment Attractiveness. 7 Table 5 segment attractiveness table. 7 Conclusion 8 Reference List. 9 2 | Pa g