Course
Date
Key Outline Paper
Mission and Vision Statements
Mission
To provide vehicles with high quality which will be affordable, serve the consumer and are safe for the environment.
Vision
To become the best producer of affordable and environmentally safe automobiles in the world.
SMART Goals and Objectives:
To subsequently upgrade the plant for better service in production
To train employees constantly to understand the customers and how to market to them
To produce and deliver products to required parties promptly.
Industry Analysis
A record sale was made in 2016 in America and it gave the automobile market a very needed boost. However, the ever-increasing economic malady in majority of the other parts of the world, especially in the emerging economies , contributed to a flat year in general, dampening potentials for international automobile manufacturers and suppliers (Hirsh et al.).
SWOTT Analysis
Strengths
- Evolving industry:
- Technological Advancement and Constant Product Innovation
- Increased demand for Luxury vehicles.
Weaknesses
- Consumers' bargaining power.
- Automobile industry growth rate(Bhasin).
Opportunities
- The introduction of fuel efficient cars:
- Strategic alliances
- Changing consumer groups and lifestyle
- Market expansion
Threats
- Stiff competition
- Fuel price volatility
- Sluggish economy
- High R&D investment and high fixed cost
Trends
In 2017, the industry is inclined towards major disruptions (Issing). The manufacturing process and cars driven are being transformed by:
- Alternative fuels
- Innovative technology
- Fresh, lightweight materials
Perceptual Map
Designs will have to be ranked from the simple design to the top design
Safety will be measured from the lowest safety to the highest
I have chosen this criterion since most customers are interested in safety and designs of the automobiles.
Works Cited
Bhasin, Hitesh "SWOT analysis of Automobile industry". Marketing 91, Jul. 2017. http://www.marketing91.com/swot-analysis-of-automobile-industry. Accessed 25 Jul. 2017.
Hirsh, Evan, John Jullens, Akshay Singh, & Reid Wilk "2016 Auto Industry Trends". PWC, Jan. 2017, https://www.strategyand.pwc.com/trends/2016-auto-industry-trends. Accessed 25 Jul. 2017.
Issing, Stefan "3 Trends That Will Drive the Automotive Industry in 2017 and Beyond". Industry Week, Feb. 2017. http://www.industryweek.com/strategic-planning-execution/3-trends-will-drive-automotive-industry-2017-and-beyond. Accessed 27 Jul. 2017.
