The automobile industry is a very dynamic and exciting example of the development of new products. Against the background of the legendary Beetle, who sold over 21.6 million times, Volkswagen decided to build a new, modern version of the car. The target market for the New Beetle was defined as the Baby Boomers and the Young Generation which declares a main difference between the two cars. As the old one was a car for the people, the new one was for the chosen people who earn enough money. With total costs of $ 590 million the product development process ended in 1998 when the car was launched to the American market first. It met with success there but costumers in Europe reacted differently when it was introduced a few months later. The unique design of a fun car was not the main attraction for Europeans to buy the car and the price was not accepted over here as in America. But accompanied by a huge marketing strategy, with the main goal of arousing emotions, Volkswagen achieved their objectives altogether. Volkswagen sold over 600,000 New Beetles from 1998 to 2003 and raised the brand awareness at the same time. Due to the crisis on the automotive market at the moment and the market caution I would recommend Volkswagen reconsider the price level of the car and they may be able to achieve higher sales outside America.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Company profile
- Identification of competing products
- Marketing Strategy
- Description of the strategy
- Target market
- Marketing Mix
- Product Development Process
- Assessment of Performance
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This coursework aims to analyze the development process of the Volkswagen New Beetle, encompassing its marketing strategy, product development, and performance assessment. The focus is on understanding how Volkswagen successfully revived the iconic Beetle model for a new generation.
- The evolution and marketing of the Volkswagen New Beetle, building on the legacy of the original Beetle.
- The marketing strategy employed to target specific consumer segments.
- The product development process and its key stages.
- The factors contributing to the success or failure of the New Beetle in different markets.
- The company's financial performance and its position within the global automotive industry.
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides a brief overview of the Volkswagen company, highlighting its size, global presence, and key product lines. It also identifies competing products within the same price range as the New Beetle.
The chapter on marketing strategy explores the approach taken by Volkswagen in positioning the New Beetle. It emphasizes the emotional appeal of the design, reminiscent of the legendary original Beetle. The chapter also discusses the target market, the marketing mix used, and the overall strategy for promoting the car.
The chapter on product development process outlines the stages involved in developing the New Beetle. It focuses on the key decisions made and the challenges encountered throughout the process.
Schlüsselwörter (Keywords)
This coursework focuses on the development and marketing of the Volkswagen New Beetle, including its marketing strategy, product development process, performance assessment, and its position within the global automotive industry. Key terms and concepts include: new product development, marketing strategy, target market, marketing mix, product life cycle, brand awareness, and emotional marketing.
- Quote paper
- Anonym (Author), 2005, Marketing Strategy of New Beetle, Munich, GRIN Verlag, https://www.grin.com/document/38937
