Introduction
The Grand Motor Company was founded in 1897 by Albert J. Edwards and Frank D. Edwards. The Company is headquartered in Leicester, England, and manufactures and sells motor vehicles. It is a family-owned business that produces and sells a range of automobiles, including cars, vans, and trucks. The Company has a strong reputation for quality and service, and its products are sold in over 50 countries worldwide (zaubee.com, n.d.). The firm has more than 3,000 workers, producing various vehicles under brand names, including Chevrolet, Buick, Cadillac, and Oldsmobile (zaubee.com, n.d.). Grand Motors Company is a full-service automotive dealership serving the Greater Los Angeles area for over 50 years. It offers a wide selection of new and used vehicles and a state-of-the-art service department.
The market of Grand Motors Company is located in Leicester. The Company is a leading provider of automotive products and services in the United Kingdom. It has a strong presence in the Midlands and the North of England. The corporation also has a wide range of products and services that it offers to its customers. For example, it provides various financing options, a wide selection of new and used vehicles, and a comprehensive range of aftersales services.
Additionally, it has a solid customer base in Leicester and the surrounding areas with a well-established reputation in the market. It is well-known for its quality products and services. The Company is also a preferred supplier of vehicles to many of the major car dealerships in the area. It has a strong relationship with its customers and a good track record of providing excellent customer service—more points (Google.com, 2022). The Company has a large workshop and showroom, making it easy to browse and find the perfect vehicle for its target consumers. Moreover, Grand Motors offers delivery and collection services, making them convenient for customers.
Marketing Strategies: PESTLE Analysis
PESTLE analysis is essential for understanding the macro-environment in which a business operates. It can be used to identify opportunities and threats and assess external factors impact on the business. The Company has been in business for over 25 years and sells new, and used cars. The macro-environment in which Grand Motors operates is favorable for the car industry. The population is growing, and there is an increase in the number of people aged 18-34, which is the prime car-buying age group.
The economy is also growing, so people have more disposable income to spend on luxuries like cars. However, some external factors could have a negative impact on Grand Motors. The most significant threat is the rise of electric vehicles. Electric vehicles are becoming more popular, which could eat into Grand Motors’ sales. The Company needs to keep abreast of developments in the electric vehicle market and adapt its marketing strategy accordingly. PESTLE is a marketing strategy used by Grand Motors in Leicester to determine the political, economic, social, technological, legal, and environmental factors that may affect the Company (Barbara et al., 2017). This information is then used to decide how to operate in the market. In the case of Grand Motors Company in Leicester, the following PESTLE factors could be considered:
Political Factors
The United Kingdom is a stable democracy with a long history of political stability and respect for the rule of law. The current political climate in the country is stable, with no significant changes or disruptions expected in the near future. This is positive for Grand Motors, as it provides a stable environment to do business. The UK’s choice of leaving the European Union (EU) has established uncertainty in the business environment. However, it has also created opportunities for companies like GMC to invest in the UK and create jobs (Prabhakaran et al., 2020). The United Kingdom’s government has supported the automotive industry and provided incentives for companies to invest throughout the United Kingdom. The country is a significant market for GMC’s products, and the Company has a strong presence in the country. The UK is a signatory to several international trade agreements, making it easier for Grand Motor Company to export its products to other countries. The country has a favorable taxation regime for businesses, making it an attractive location for Grand Motor Company to invest.
Economic Factors
The United Kingdom has a strong economy. The country is a member of the European Union and has a strong relationship with the United States. One of the economic factors favoring Grand Motors Company in the UK is the access to a skilled workforce. A skilled workforce is essential to Grand Motors Company because it allows the Company to produce high-quality vehicles (Yuningsih et al., 2021). Additionally, a skilled workforce allows the Company to be more efficient and productive, which can help improve the bottom line. Additionally, a skilled workforce can help attract and retain customers, as they are more likely to be satisfied with the products and services.
Additionally, the UK has a well-developed infrastructure that has supported the various operations of the Grand Motors Company. The United Kingdom’s well-developed infrastructure is vital to the Grand Motors Company. The infrastructure includes a sound transportation system, a reliable energy supply, and a telecommunications network (‌Friesendorf & Uedelhoven, 2021). The transportation system includes a network of roads, railways, and airports. The energy supply is reliable and provides a consistent supply of electricity. The telecommunications network is reliable and provides good coverage.
The United Kingdom has a well-established culture of innovation and entrepreneurship, which has played an essential role in the prosperity of the Grand Motors Company in the international markets. This has made the Company attractive to foreign investors, as it shows that the UK is an excellent place to do business. This is important for Grand Motors to compete in the global economy.
Social Factors
Some of the social factors in the UK which may promote the growth of Grand Motors Company include the following. The United Kingdom has a population of over 65 million people, making it a large potential market for the Company. Additionally, the country has a relatively high disposable income, meaning that people may be more likely to purchase products from the Company. There also exists a large number of car owners throughout the country, meaning that there is a large potential customer base for the Company (Barbara et al., 2017). Moreover, the country has a relatively high level of car ownership per capita, meaning that people in the UK are more likely to be interested in purchasing cars from the Company.
Technological Factors
The level of technology within the United Kingdom is high, with a strong focus on research and development. Some technological factors in the United Kingdom have contributed to the success of Grand Motors Company. Some of these factors include the availability of a skilled workforce, which has given the Grand Motors Company access to a large pool of skilled workers in the UK, which has helped them grow and expand their business globally. Next, the use of innovative technology has also aided in the growth of the Grand Motors Company. The corporation has utilized innovative technology in its manufacturing process, which has helped them produce high-quality vehicles (Barbara et al., 2017). Lastly, the robust transport infrastructure within the UK has also promoted the growth and expansion of the Company. The UK’s well-developed transport infrastructure has helped Grand Motors Company distribute its vehicles nationwide.
Legal Factors
There are many legal factors that have promoted the growth of Grand Motors in the UK. Firstly, the Company has been able to take advantage of the UK’s favorable corporate tax regime. This has allowed the Company to reinvest its profits and grow its business. Secondly, the Company has benefited from the UK’s skilled workforce and can access a pool of talented workers (Yuningsih et al., 2021). Finally, the Company has taken advantage of the UK’s stable political and economic environment, which has provided a favorable environment for business growth.
Environmental Factors
Several environmental factors have promoted the growth of Grand Motors in the United Kingdom. First, the UK has a strong economy and a stable political environment. This has allowed Grand Motors to invest heavily in its manufacturing and R&D facilities in the UK. Second, the country has a highly skilled workforce and a well-developed infrastructure (Yuningsih et al., 2021). This has helped Grand Motors quickly scale up its operations in the country. Third, the UK is a large automobile market, and Grand Motors has been able to tap into this demand. Finally, the United Kingdom has a favorable tax regime for companies like Grand Motors.
The Ansoff Matrix
The Ansoff matrix can be described as a strategic-based planning tool that aids businesses in determining their products and market development strategy. The matrix is named after Igor Ansoff, who created it in the 1950s. The Ansoff matrix has four key strategies that businesses can use to grow:
Product Development
The product development process at Grand Motors Company in the United Kingdom typically begins with identifying a need or opportunity in the marketplace. The Company then conducts market research to determine whether there is a viable market for the product and whether the product would be profitable. If the market research indicates a potential for the product, the Company begins the development process (‌ Friesendorf & Uedelhoven, 2021). This process includes the development of the product concept, the design of the product, the testing of the product, and the final production of the product. Grand Motors Company has been working on expanding its global presence in recent years, and the product development team has played a crucial role in this effort. The team has helped develop new products that meet customers’ needs in different markets, and they have also worked to ensure that these products comply with local regulations. The team has also developed new marketing materials and strategies to promote the Company’s products in different markets.
Market Penetration
The Market penetration at Grand Motors Company in the UK is the Company’s strategy to increase its market share in the United Kingdom. The Company plans to do this by offering new and innovative products that appeal to customers and by increasing its marketing and advertising efforts. Additionally, the Company plans to expand its dealer network to make its products more accessible to consumers. Grand Motors Company plans to increase its market share in the United Kingdom by offering outstanding products, increasing marketing and advertising efforts, and expanding its dealer network (Snoeck & Wautelet, 2022). It has a strong presence in the UK market, with a significant share of the new car market. It also has a wide range of products, including hatchbacks, saloons, SUVs, and luxury vehicles. The Company has a strong dealer network and an extensive service network. The corporation has a good reputation for quality and reliability. Finally, the firm is also a significant exporter of vehicles to other markets. The Company has a strong financial position, with a strong balance sheet and a strong cash position.
Market development
The Market Development at Grand Motors Company in the UK is outstanding. The Company has been able to establish a strong presence in the UK market and has been able to grow its market share significantly. The Company has a substantial product range and a good reputation in the market, and it also has a good distribution network and has a solid customer base. GMC is also well-positioned to continue its growth in the UK market, thus giving it some competitive advantage (Friesendorf & Uedelhoven, 2021). In recent years, Grand Motors has been working on expanding its presence in the global market. The Company has established manufacturing facilities in China and India and has also been working to develop new markets in Africa and the Middle East. Grand Motors has also invested in research and development to create new and improved vehicles.
Diversification
The Company has a wide range of products and services, which gives it a broad customer base. Additionally, the Company has a strong presence in domestic and international markets, a diversified workforce, and employees from various backgrounds and cultures (Friesendorf & Uedelhoven, 2021). Next, the Company has a diversified supplier base, which gives it a competitive advantage. Lastly, the Company has a solid financial position, with a strong balance sheet and a good credit rating, thus making it b successful in its marketing endeavors.
New Product Development
Grand Motors Company in the UK has a new product development process designed to be agile and responsive to customer needs. The process is based on the “lean startup” methodology, which emphasizes customer feedback and iterative development. The process begins with a customer need or problem the Company seeks to solve. The Company then develops a minimum viable product (MVP) and tests it with potential customers (Snoeck & Wautelet, 2022). Based on customer feedback, the Company iteratively improves the product until it meets customer needs. The entire process is designed to be flexible and responsive to customer feedback, making it an ideal choice for developing new products.
Some of the benefits of the new product development process at Grand Motors Company in the UK include: The process is designed to be responsive to customer feedback, which helps ensure that the final product meets customer needs. Moreover, it is also flexible, which allows the Company to quickly adapt to changes in customer needs (Snoeck & Wautelet, 2022). Lastly, the process is based on the “lean startup” methodology, which helps ensure that the product is developed efficiently and effectively.
However, there are also a few potential weaknesses in the process. Firstly, the process is lengthy and time-consuming in that it can take up to 6 months for a new product to go from concept to launch. This can be a deterrent for some potential customers who may not have the patience to wait that long. Secondly, the process is quite expensive as there exist costs associated with research and development, marketing, and production. This can make it difficult for the Company to turn a profit on new products, especially if they are not well-received by customers (Marzi, 2022). Thirdly, the process is quite risky as there is no guarantee that a new product will be successful, no matter how much research and development has gone into it. This can lead to losses for the Company if a product fails to sell. Lastly, the process can be disruptive to the Company’s existing operations as launching a new product can take away from the resources and attention devoted to existing products. This can lead to a decline in the quality of existing products and customer satisfaction.
However, the Grand Motors Company is a leading automobile company in the United Kingdom and is the fourth largest in Europe. GMC manufactures and supplies motor vehicles in the United Kingdom and exports vehicles to other countries in the world. The corporation has a good reputation in the UK and is a leading exporter of vehicles. The Company has a good marketing strategy in the UK and has been successful in the past. However, GMC needs to expand its operations in the international marketplace (Yordanova, 2022). The firm needs to develop a marketing strategy to help the Company expand its operations in the international marketplace. Grand Motors also needs to develop a marketing mix to help the Company expand its operations in the international marketplace. The Company needs to develop a marketing mix to help it expand its operations in the international marketplace.
Recommendations and Conclusion
Businesses’ marketing management operations have faced certain transformations due to the changing business conditions worldwide. Grand Motor Company has always been a radical force throughout history, and the Company can only continue to continue leading a new age in the global automotive sector by making even more innovative changes and breakthroughs. Grand Motor Company has maintained its success with the procedures that are now in place. Grand Motors has employed PESTLE analysis as one of its marketing techniques to identify the potential impacts of political, economic, social, technological, legal, and environmental variables on the business. Decisions regarding how to conduct business in the market are then made using this knowledge. Grand Motors Company has also employed the Ansoff matrix, which can be described as a strategic-based planning tool that aids businesses in determining their products and market development strategy. The new product development process at Grand Motors Company in the UK has also been made to be quick and adaptable to customer demands. The strategy is based on “lean startup,” which emphasizes iterative development and user input.
There are a few recommendations for an adequate marketing strategy for Grand Motors in the UK to expand the business in the global market. First, the Company should develop a better strategy for understanding the global market. In order to expand the business in the global market, it is essential first to understand the global market (Lizarelli et al., 2021). This includes understanding the different cultures, customs, and preferences of consumers in different countries. GMC should also do more research based on the competition. It is vital to research the competition in the global market. This will help develop strategies to differentiate the products and services offered by Grand Motors. The corporation should also develop a global marketing strategy. A global marketing strategy should be developed to expand the business in the global market. This strategy should include a plan for reaching the target market, what products and services to offer, and how to price the products and services. Lastly, the Company should monitor and adjust the global marketing strategy: It is essential to monitor the progress of the global marketing strategy and make adjustments as needed. This will help ensure that the strategy is effective and produces results.
Reference List
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Lizarelli, F.L., Torres, A.F., Antony, J., Ribeiro, R., Salentijn, W., Fernandes, M.M. and Campos, A.T., 2021. Critical success factors and challenges for Lean Startup: a systematic literature review. The TQM Journal.
Marzi, G., 2022. On the nature, origins and outcomes of Over Featuring in the new product development process. Journal of Engineering and Technology Management, 64, p.101685.
Prabhakaran, A., Mahamadu, A.M., Mahdjoubi, L., Andric, J., Manu, P. and Mzyece, D., 2021. An investigation into macro BIM maturity and its impacts: a comparison of Qatar and the United Kingdom. Architectural Engineering and Design Management, 17(5-6), pp.496-515.
Snoeck, M. and Wautelet, Y., 2022. Agile MERODE: a model-driven software engineering method for user-centric and value-based development. Software and Systems Modeling, pp.1-26.
Yordanova, Z.B., 2022. Lean startup method hampers breakthrough innovations and Company’s innovativeness. In Emerging Issues and Trends in INNOVATION AND TECHNOLOGY MANAGEMENT (pp. 1-20).
Yuningsih, E., Gunawan, R. and Silaningsih, E., 2021, April. Increasing Competitiveness of Micro, Small and Medium Enterprises Through the Application of Green Marketing Mix to Support for Tourism Sector. In ICEBE 2020: Proceedings of the First International Conference of Economics, Business & Entrepreneurship, ICEBE 2020, 1st October 2020, Tangerang, Indonesia (p. 271). European Alliance for Innovation.
zaubee.com. (n.d.). GRAND MOTOR COMPANY LTD – 220 Loughborough Rd, Leicester, GB. [online] Web.
Appendix
PESTLE Analysis
The Ansoff Matrix
