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Strategic Problem and Issue Identification
The Project Midas team has a number of issues to address before marketing the Chevrolet brand in Europe. For instance, this brand is not known by many European customers. This gap is critical towards coming up with a powerful marketing strategy for this car brand.
Many European car buyers “have several preconceptions of American cars” (Kerin and Peterson 649). They also believe that such American cars are uneconomical.
The marketing team also faces a number of challenges. For example, the poor performance of the Daewoo brand will affect the team. General Motors (GM) managed to win the trust of many European customers. However, the team should identify new strategies in order to make Chevrolet a leading brand in Europe.
The team is required to embrace the best brand positioning strategies. A number of challenges will also affect these strategies. The Project Midas team is “required to carry over names for dealers, operating policies, and individual-product models” (Kerin and Peterson 634).
A powerful strategy is required for the new Chevrolet brand. The important goal is to identify a powerful positioning strategy that can produce these goals.
These goals include “complementing GM’s multi-brand portfolio in Europe, retaining the global image of the Chevrolet brand, and resonating with European car consumers” (Kerin and Peterson 634).
Analysis and Evaluation
The provided case study identifies the major issues affecting the Project Midas team. To begin with, many European car buyers have been admiring the Daewoo brand. The Daewoo brand “is admired by members of the European middle class” (Kerin and Peterson 639).
According to many clients, Daewoo Company was also producing good cars. The introduction of the Daewoo Matiz proved successful for the company. However, Daewoo Company became bankrupt in 1999. The formation of GM Daewoo Auto and Technology Company supported the performance of the brand in Europe.
The firm used a powerful positioning research to attract the right customers. The brand also became admirable in the content. This achievement shows clearly that GM can market the Chevrolet brand in Europe successfully.
The Chevrolet brand presents a powerful image to every potential customer. The number of threats faced by the Daewoo brand can make the Project Midas team unsuccessful.
For instance, GM Daewoo lacked a proper advertising strategy in Europe. The company did not “embrace new product development strategies” (Kerin and Peterson 648).
The depreciation of different Korean brands in Europe affected GM Daewoo’s performance. There is also “a huge disconnect between the customer belief about the realities of the GM Daewoo and the Chevrolet brand in Europe” (Kerin and Peterson 649).
The Project Midas team should therefore consider the realities presented in the case study. GM Daewoo has encountered several weaknesses and challenges. These weaknesses should be converted into strengths in order to make the Chevrolet brand successful.
The Project Midas team should embrace new strategies in order to emerge successful in Europe (Kerin and Peterson 636). The firm should consider the strengths of the Chevrolet brand in other markets.
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A powerful advertising strategy will ensure more buyers understand the quality associated with this car brand. The company should also produce both diesel and petrol cars in order to attract more customers.
A powerful awareness campaign should be used in order to make this car brand successful in Europe (Kerin and Peterson 648). GM should also target different classes in the continent. This approach will ensure Chevrolet becomes a successful brand.
Kerin, Roger, and Robert Peterson. Strategic Marketing Problems: Cases and Comments. Upper-Saddle River, NJ: Prentice Hall, 2009. Print.