Empowering Product Marketing In The Automotive Industry: The Key Role Of Product Marketing As An Innovation Booster. Towards A New Approach Amidst Major Disruptive Changes. (Volume 2)
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(as of Jun 17,2023 22:04:14 UTC – Details)
Volume One of this book has underscored how a strong Marketing and smart Product Marketing are vital elements of a winning strategy in the Automotive Industry – and elsewhere, provided they constantly and relentlessly focus on second-to-none customer satisfaction.
Volume Two is emphasizing through numerous case studies how Product Marketing should spur innovation on an ongoing basis in order to play its full and real part. Suppliers, OEMs and new outsiders Google, Apple, invest a lot in research, development, design and production of innovative solutions by predicting their acceptance to win new customers and reach new markets. New globalization challenges question the very fundamentals of the industry and anticipating future trends has become so hard that it turns out to be anyone’s guess. Volatility is the key word. The only certitude is unpredictability! As already pointed out in Volume 1, customers are getting increasingly more empowered and request more information whatever the channel they use. 85% of new vehicle customers start their buying process online and it is estimated that around 5% of all vehicles sold worldwide, i.e. around 5 million units, might be sold via online-only car sales by 2020. The multi-channel multi-platform new era is a win-win opportunity, adding the convenience of digitization to the physical experience of a car showroom where some customers may fall in love with their future car the same way they would at an Auto Show.
At the 1964 New York World’s Fair in Flushing Meadows – whose theme was “Peace Through Understanding”, dedicated to “Man’s Achievement on a Shrinking Globe in an Expanding Universe”. and symbolized by a 12-story high, stainless-steel model of the earth called the Unisphere, Ford unveiled the Mustang, a ‘freedom automobile’ which clearly was the outcome of a masterminded marketing study that smartly identified a yet unmet need for an “exciting car to an exuberant generation” according to McKinsey Quarterly, October 2014. Ford Division’s General Manager Lee Iacocca said the Mustang was bringing “total performance to a young America out to have a good time.” Unlike GM that displayed the Firebird IV, a futuristic concept car that anticipated “the day when the family will drive to the super-highway, turn over the car’s controls to an automatic, programmed guidance system and travel in comfort and absolute safety at more than twice the speed possible on today’s expressways.” Long-term vs. short-term, future vs. present… Nevertheless and in spite of a buoyant R&D but still marginal electric (and autonomous with its major challenge, hacking risks) vehicle market, the internal combustion engine is far from being over and should still represent the dominant technology of the foreseeable future.
“In other words, if a ubiquitous fleet of on-demand vehicles provided drivers with the transportation they need, would it also provide them with the feelings of independence that have attracted drivers for more than 100 years and continue to make cars popular in new markets? While the timing and impact of the forces we’ve described remain fluid, they seem likely to transform the automotive industry and perhaps alter our very concept of what an automobile is. But we also believe that people will still look to their cars as a means of self-expression, with some very human elements. Tomorrow’s winning OEMs will still manage to capture the public’s imagination, much as Ford and its Mustang did on the fairgrounds of New York half a century ago,” brilliantly conclude the authors of the McKinsey Quarterly article A Roadmap To the Future For the Auto Industry, Paul Gao, Russell Hensley and Andreas Zielke.
ASIN : B074MN8MDP
Language : English
File size : 10397 KB
Text-to-Speech : Enabled
Screen Reader : Supported
Enhanced typesetting : Enabled
X-Ray : Not Enabled
Word Wise : Enabled
Sticky notes : On Kindle Scribe
Print length : 406 pages
