Maserati Ghibli Launch

MASERATI GHIBLI LAUNCH 7

MaseratiGhibli Launch

MaseratiGhibli Launch

CompanyDescription

TheMaserati car company has a long history of car manufacturing,especially sport cars. The company’s official distributor is theNaza Italia. Naza Italia initiated the official launch of theMaserati Ghibli in 2014 in Malaysia. From the 1940s, the Maserati carmodels have been manufactured in Viale Ciro Menotti, Italy. Maseraticontracts different distributors in different car markets as part ofits outsourcing strategy that aims to tap the high end market. Themodern Maserati models are: the Quattroporte sedan and Gran Turismo.The later is sportier than the former. In 1997, Maserati Company wasexperiencing financial problems that needed an immediate buy-out tosave the company from filing for bankruptcy. Consequently, Ferrariand Fiat joined in and bought fifty percent stake each. In 1999,Ferrari bought the entire share and took control of the entirecompany with a new management. Maserati is not yet as profitable asexpected but its fortunes are gradually improving. In 2005, Ferrariresold Maserati to Fiat S.p.A, giving Fiat and large stake in thecompany.

Products

Maseratispecializes in luxury cars. Luxury cars are capturing the high-endmarket such as sport cars and executive saloons of different models.The most prominent models currently being manufactured by Maseratiare: Quattroporte, Ghibli, The Alfieri, and the Levante. The GranTurismo model is also underway to increase the number of modelaffiliates for the company. The Quattroporte is a four wheel drivesport car with high performance horse power. The Ghibli belongs tothe executive saloon category launched to meet the company’sambitious plan achieving the highest car sales in years to come whilecompeting favorably with other luxury car manufacturers. TheGranTursimo is in the grand tourer category both with sport and MCfeatures. The Levante model is an all-wheel drive cross over SUV forexecutive use. Finally the Alfieri is a V-6 or V-8 engine model. Allthese models are the current motor vehicle products of the companythat target the luxury car market.

Industry

Luxurycars such as the Maserati Ghibli 2014 account for 11% of the totalcar sales. They also account for 185 of the total spending on newcars. However, the Maserati models are not the mainstream becausethere are other popular giants such as the Acura, Porsche, BMW,Volvo, Lincoln, The Lexus, The Audi, and Mercedes-Benz. Thus, theMaserati needed to use penetrative strategies that would motivatecustomer indifference over other luxury cars.

Competitors

Maseraticar face competition from other car manufacturers. Specifically theGhibli faces competition from other top-ranging cars such as the BMW5 series, the Marcedez-benz E-Class (Kapferer, 2012). The competitionpossibly emanates from the higher price of the Ghibli. It is morethan the BMW 5series, which is currently performing well on theinternational market. The Maserati Ghibli is also more expensive thanthe Mercedes-Benz E-Class. Currently, the E-400 series is trendingthat price meaning that the company has to employ smart marketing topenetrate this market. However, the Jaguar XFS 3.0 V6 is the strongercompetitor than the BMW X5 and Marcedez-benz E class because it ispriced almost the same level as the Maserati Ghibli with a slightdifference.

TheCompany’s Strategy when Launching the Product

Maseratiused the social media strategy to launch the Ghibli luxury car. Social media platforms through blog sites and other social mediachannels ensured that fans have access to the brand identity of thecompany. In fact one of the main goals of the using fan webcommunication as a launching was to enable potential buyers, carenthusiasts, owners, and opinion leaders to interact and share moreabout the Ghibli car model, while keeping the company style in linewith the marketing objectives of Maserati. Maserati used anintegrated system of web communication, the press, and marketingprocesses so that a large number potential buyers of the market isreached. On the fan page, there were presentations of different carmodels presented with different interactive tabs on which individualfans made their contributions on the improvements and the strengthsthat the Ghibli has over previous models. After the web interactions,the discussion set the stage for public exhibitions where the fanswere allowed t physical see the new model. For instance, the GhibliDigital Launch website had live streaming pictures of the car thatcould be accessed by any interested buyer worldwide. The livestreaming pictures are still on the website(http://www.aicod.com/case_history/automotive_1/maserati.aspx)from the time of the launch.

Themarket Analysis

Theglobal market for Maserati luxury models has been very dynamic in therecent past. This may not be any different for the Ghibli modellaunched in 2014. The U.S market was the most successful during theeconomic crisis, but the Italian market shrunk paving for China totake over as a destination for the highest number of car units in allthe five categories. Considering that Europe has not fully recoveredfrom the crisis, sales for the Ghibli are likely to be higher in theUnited States than in Europe. The Middle East also posted positiveresults in 2012 and 2013 with a 37% increase in sales. (lo Storto,2014) China’s luxury car market is also on the increase. Maseraticar models also improved in sales for the last two years. Inconclusion, the best target markets for the new Ghibli models are theMiddle East, The United States, and China.

4Ps of the company

Product-the Company produces other Maserati sedans brands but the Ghibli ofbeing the most affordable for customers. It also has a unique designbearing no outward semblance to other Italian sporting cars.

Price-The pricing strategy for the brand is different depending on themarket segment. The average price is $67,000, but may vary based onthe supply chain of a given country.

Place-Maserati has different distributors in different countries. Usinglocal distributors is vital because they understand the market muchbetter.

Promotion-The prominent promotional strategy for the company is an interactiveweb communication between customers, the press, and car dealers.

SuccessAnalysis

TheCompany is gaining momentum as a manufacturer of luxury car brands.It growth targets are 50,000 units for 2015 and another 75,000 unitsfor 2018. According to the Chief Executive Officer, Herald Westar,the growth goals are realistic because the market is increasinglygrowing commensurate with car sales. If the Ghibli model has tosucceed, it has to follow the overall growth rate of the company.

Recommendation

Maseratihas a small market share compared to other luxury car manufactures. Marketing strategy should, therefore, target regions that havefavorable performance in terms of sales. Market penetrativestrategies should aim to portray the Ghibli as an alternative brandover the common brands in the market. A luxury car owner in the U.S,Europe, and China would probably be having a Lexus, Porsche, theMarcedez-benz, and many other that have a large market share. Thus,the Maserati Ghibli needs to come out as the best alternative forthese brands. Luxury car customers buy them for ostentation hence,reducing the price against the competitors may not yield the desiredresults(Fabry, 2003).The best strategy to further penetrate the market is to use uniquedesigns and incorporate more user comfort features that make thesport car different from others.

References

Fabry,L. (2003). Trends in European Foreign Automotive Investments.BusinessBriefing: Global Automotive, Manufacturing and Technology.

Kapferer,J. N. (2012). Theluxury strategy: break the rules of marketing to build luxury brands.Kogan Page Publishers.

loStorto, C. (2014). Two-Step Method Useful For Support of TechnicalBenchmarking Practice in the Automotive Market. EngineeringEconomics,25(3),320-332.

http://www.aicod.com/case_history/automotive_1/maserati.aspx

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