From the very beginning of automobile industry, product and branding strategies are considered as one of the major functions performed by the manufacturers. What is interesting that, with the passage of time, its importance is increasing significantly. Even though the voyage of automobile commenced in 1335 by Guido da Vigevano, in true sense there was not any considerable development until 1885, when Karl Benz invented the first practical automobile. Since then the automobile industry has gone a long way consisting of a number of renowned companies.
In this industry, the core product is transportation and communication facility backed by actual and augmented product. ...view middle of the document...
Brand developing strategies includes line extension, brand extension, multibrand, new brand. Environment is also related with branding strategies. So in this industry, companies always try to introduce new and quality product and build and maintain strong brand.
Origin of the Report:
As per for the successful completion of course F-204, (Principles of Marketing), we are required to prepare a report on a related topic. It is from this inspiration and according to our instructor, Shabnaz Amin; we started to prepare our report on “Product & Branding Strategies”. For this purpose, we chose the world Automobile Industry. This is a very lucrative topic to learn about the real business life and we found the topic very informative and appealing.
Objectives of the Report:
The main focus of this report will be on analyzing the product and branding strategies of Automobile Companies. The aim of the report is to give a general overview of development of automobile industry and the multidimensional strategies related to product and branding taken by the companies in this sector.
Our objective is to provide a formal report on the theoretical knowledge learned in the class on real business life perspective.
Our distinct objectives are:
* To find out the nature of product.
* To analyse the various product & branding strategies.
* To learn about the practical implementation of theoretical strategies.
* To provide information about the recent and probable future trends.
Scopes of the Report:
This report provides an overall situation of branding culture in automobile industry. It finds out the reason behind why the product and branding strategies are so important to both launch and develop a product or brand. While talking about the performance of these strategies, the report also highlights the historical background and the process of taking these strategies in this sector.
Methodology of the Report:
This report has been prepared on the basis of related articles, personal studies, data collected from different sources, expert opinions etc. In preparing the report, only secondary data have been used. We have shown a few analyses conducted by ourselves based on available data. Besides these, the particular sources of information are mentioned in bibliography part.
Limitations of the Report:
Our target was to prepare an exact report delivering the real condition of product and branding strategies used in Automobile sector. But unavailability of primary information proved to be the most disturbing constraint in preparing the report. Data collection was proven to be most hazardous. This was not readily available. We have gathered data from various online resources and libraries by visiting many times. This was an exciting topic to prepare a standard report but there were not enough particular studies on this topic. But, we have tried our level best to prepare this paper with sincerity. Our effort will be a successful one when this...