Competition Management Theory and Practice

Question: Discuss about the Competition Management Theory and Practice. Answer: Introduction Presently high amount of competition can be found in any type of business. However, in order to become successful in long term competition, a company has to work ethically. All companies have to develop an appropriate guideline to control the behavior of employees and employers. These guidelines can also help to maintain ethical footsteps in business operations. This assignment has been developed in order to find out the challenges that a business entity has to face, when an ethical issue related with work or workplace occurs. It has been analyzed that, most of the organizations struggled to maintain organizational image and its reputation while these types of ethical issues occur. 7-eleven is the selected organization in this assignment. It has been found that the company 7-eleven is one of the most renowned and recognized business chains that has occupied majority of its market place. It has been analyzed that the company had started its journey in the market of Australia during the year of 1977 with only a single store (7eleven 2017). After that, the company had expended its business immensely. Presently the company has more than 630 stores in Australian market (7eleven 2017). The company has utilized majority of states and renowned cities of Australia. It includes Western Australia, New South Wales, Queensland, Australian Capital Territory and Victoria. The company has approximately 190 million transactions annually. Presently the company is facing some major ethical issues that have hampered companys business operation significantly. In addition, it had been found that these ethical issues have also drawn the attention of customers of the company. For this reason, the company was not able to maintain is organizational image. For this reason, the revenue growth of the company was significantly damaged. Hence, in this assignment, ethical issues faced by the company had been identified. It had also been discussed how these ethical issues have affected reputation of the company and performance of employees. Discussion In recent times, 7-eleen was accused for not paying proper wages to its employees which is an ethical problem for the organization. According to Sivaraman and Turner 2016, a joint investigation was held by The ABC Four Cornets and Fairfax that found that 7-eleven was forcing their employees to work long hours and was not even paying their wages properly. However, the management of the organization tried to distance itself from the problem by saying that the problem was caused by a handful number of franchisees. According to Fraser, (2016), the stores of the organization stay open seven days per week. It is evident that wage costs of operating such a store must be significant. However, the report suggests that in a financial report that was supplied to the 7-eleven head office located in Australia, it was mentioned that total wages of sex employees was a little over $64,000. It was also found that the employees of the organization were paid half the $24 an hour or less (Terry-Armstron g, 2016). Besides it was also found that organization was doing the same with its employees who were immigrated to Australia. Some of them were even international students. As a result of this investigation, the franchising model of the organization came under the public spotlight, mainly the professed unfair financial pressures placed on franchises and, in turn, their staff to make sure profitable and viable businesses. According to May et al., (2014), Australia is the one of the most regulated franchising sectors in the world where The Mandatory Franchising Code of Conduct aims to deliver a level playing field ad franchisees and franchisors. At the time of any dispute, the office of the Franchising Mediation Advisor can support with dispute resolution. However, in the case of 7-eleven the franchises violated all the rules and regulations. In order to argue this ethical problem of the organization, two concepts of managerial ethics will be discusses in this part of the essay. Business ethics is known as the application of some ethical principles and standards to business. However, ethical principles in a business must not be different from those moral principles that business people must apply to their own personal conduct. However, a debate is always there about whether ethical principles must be applied if the consequence is a decline in profit. From the case of 7-elven it is clear that the organization did not follow any ethical principle in order to improve their profitability. According to Michaelson et al., (2014), ethical behavior means not harming others. In the case of 7-eleven, the organization harmed the employees therefore there is no doubt that their behavior was unethical. To describe their ethical problem, two concepts of managerial ethics will be adopted which are immoral managers and amoral managers. Immoral managers, according to Patino, (2012), are the best examples of self-serving greed that can be termed as simple business. These types of managers have very few principles and they view reliability ax religious term which is not applicable in the real world. These types of managers can do anything and everything to accomplish their personal goals and the objectives of the organization. On the other hand, managers who are amoral believe that it is not important to consider ethical principles while making business decisions. They think that it is absolutely legitimate for business organization to do anything they will so long as they stay within in legal and regulatory bounds (Smith et al., 2013). These types of managers are either deliberately or not deliberately amoral. Managers who are intentionally amoral normally observe ethical considerations as an act of charity. However, they also believe that ethical standards which require doing more than what is required by the law ar e not realistic in this competitive business world. One common behavior of the intentionally amoral managers is most their decisions are lawyer driven. They always try to find out loopholes in legal systems in order to gain advantage for the organization. Then there is an unintentionally amoral manager who does not want to pay any type of attention to the concept of business ethics (Stanwick Stanwick 2013). These types of managers do not give any type of serious attention to the unethical consequences of business decisions that can look as amoral. With the amoral managers the biggest problem is that when they are confronted by the unethical results of their amoral acts, they find it easy to justify the need for immorality in pursuit of profit rather than find a way to change their business strategies based on ethical principles. From the case of 7-eleven it can be said that organization and is managers were following the unintentionally amoral attitudes towards its employees. According to the investigation, the organization is to pay workers a total of $4.36m (Wotruba et al., 2015). However, the workers were underpaid $24,000 each. However, this situation was denied by the Allan Fels chief of the panel who said that the complaints of underpayment came from 60% stores only. However, the question is why the organization did this with its workers. According to Ford and Richardson (2013), an agreement was signed between the management of the organization and franchisees. According to that agreement the franchises are expected to pay nearly 55% of revenue to the head office (Weaver, 2014). However, it was not possible for the franchisees to provide that and gain profits at the same time. That is why, they started to gain profits by underpaying the employees. From this scenario, it is clear that the managers of the organization were unintentionally amoral. Managers who are intentionally amoral take unethical decisions using the law and order. For example, the intentionally amoral managers think if there is a legal loophole that can be found to open an overseas bank account in a bank that will protect the identity of the depositors or not. That means if the managers of the franchisee companies wanted to keep their profits while paying 55% revenue, they would find a way that is legal (Uche et al., 2016). However, the story that was revealed by the investigation clearly showed that what the managers did was absolutely unethical. Like unintentionally amoral managers, the leaders of the organization did not pay any type of attention to the concept of business ethics. Their aim was to increase the amount of profitability of the organization and they wanted to accomplish it somehow. That is why; they started to underpay the employees. The investigation also revealed that the organization was also responsible for implementing cash-back scheme in the workplace. According to this plan, the employees were paid right amount of reward that they deserve. However, later they were forced into paying back part of their reward to their employers. From this decision it can said that the organization by any means tried to improve their profitability. They did not care whether the step taken by then is ethical or not. However, Sivaraman and Turner (2016) argued that most of the franchisee carry others brand but are independent businesses. Therefore, it is not right to blame the franchises. Franchisors can easily demand that were acting according to the rules and regulations of Franchising Code of Conduct and they are in line with their franchise agreements and disclosures. When a problem occurs, it is easy for the franchisors to say that legally it is not their problem. However, it is true that the franchisors will face the mai n problems. They will face problems in terms of public perception of their business and brand and also on franchisee and staff recruitment and retention. One good thing about 7-eleven is after finding out about the problem, the organization did not hesitate to come forward. After revealing that all the problems were caused by the franchises, the organization could easily step away and could ask the franchisee companies to pay for their mistakes (Fraser, 2016). However, the organization took the matter into their hands and announced that they would repay all underpaid employees once those are verified. So far, 7-elven has successfully paid nearly 120 workers and has also entered into a compliance partnership with the fair work ombudsman to enhance its practices related to business ethics. As the franchisees were manipulating time sheers, the organization introduced new electronic timekeeping (7eleven.com.au, 2017). The management of 7-eleven also announced that they will terminate those franchisees that violated the legal rules and regulations and forced the workers to work under low payments. From this situation it can be said that the managers of the organization are Moral Managers. Moral Managers is another concept of managerial ethics that states that these types of managers are dedicated to high standards of ethical behavior both in his own personal actions and in his decision of how to handle and organizations activities. The management of the organization through a spokesman of their own told Guardian Australia that the company was unaware of the incident (Michaelson et al., 2014). The organization in any situation did not support the decisions o the franchisee companies. Therefore, it can be said that the organization is following business ethics properly. Analysis In this research work, the main topic is work ethics. In this section, it had been critically evaluated how business ethics is related with leadership style and decision making skills. According to Albert and Merunka (2013), ethics is the belief or value of a company based on which all the business operation are conducted. For instance, 7-eleven always try to maintain customer relation. It is one of the major ethical concerns for the company. Barry (2016) mentioned that employee performance of an organization has significant impact on customer relation. If employees of an organization can offer best quality of service to their customers, then customers become satisfied (Barry, 2016). However, offering high standard of service is not the only ethical concerns that management of the organization is facing. The management of the company has to provide all the necessary benefits and facilities to workers in order to maintain ethics at workplace. All the business managers of a company lik e 7-eleven has to follow some specific acts while developing business operations. It includes acts such as Health and safety Acts, Data Protection Acts, Anti-discrimination Acts, gender equality acts and Right to information Act. Managers of a company have to treat every employee with dignity and respect (Alberts et al., 2015). Albert and Merunka (2013) stated that leadership is another important aspect that can support and promote ethics at workplace. It is the responsibility of an ethical leader to guide every employee towards organizational goal. It had been analyzed that employee performance is highly dependent on leadership quality and style. It has been found that a leader can follow different types of leadership styles depending on the individual characteristics. They are such as democratic leadership style and autocratic style. Ardichvili et al. (2012) mentioned that in democratic leadership style, leaders provide opportunities to workers so that they can express their point of view. The leaders take decisions after taking advice from subordinates. On the other hand, in autocratic leadership style, leaders take their own decisions without consulting with subordinates. Barry (2016) mentioned that, this type of leadership is effective in emergency situation or when a company is able to gain profit. Ho wever, this type of leadership style can lead to discrimination and partiality and give rise to ethical issues (Alberts et al., 2015). It also forced employees to follow the order given by their higher authority blindly. They are not provided enough space so that can express their own point of view in the decision making process. For this reason, employees lose interest in work and they are not able to provide effective service to customers. On contrary, it can be mentioned that business decision is the process that depends both on employees and employers. Ardichvili et al. (2012) stated that, in most of the successful organizations, before taking any important decisions managers involve employees in the decision making process. Audi (2012) mentioned that, it also makes sure that managers can take ethical decisions. For example, in order to motivate employees to take less leaves, at first the management team has to discuss employees about their issues. It will help managers to understand the aspects that can motivate employees to take less leaves. For example, providing work from home facility and extra incentives for not taking leaves can motivate employees to take less leaves. In order to lead workers to organizational goals, business leaders have to develop effective communication with every worker in order to know their issues and challenges (Barry, 2016). Hence it can be mentioned that values and beliefs of managers and the leadership style has significant impact on the decision making approach. In case of 7-eleven, it had been analyzed that leaders of the organization do not follow organizational ethics while taking decisions. It had been found that human resource management team has selected less talented, less skilled and undergraduate employees, who are not even qualified to work in the company. It gave rise to issues related with discrimination at workplace. In addition inequality can also be found in the payment system. It had been found that most of the employees of the company were underpaid. For this reason, most of the employees failed to maintain their livelihood in appropriate manner. The managers did not follow organizational ethics while taking these kinds of decisions. It had increased dissatisfaction among employees, which hampered individual performance of employees and as well as overall organizational performance. Audi (2012) mentioned that, in order to become an effective leader, a person has to follow the ethics of business and principles. They have to develop strong relationship with employees depending on which they can take collective decisions so that they reach the target market in more efficient manner. Hence, it can be stated that all these terms business ethics, leadership and decision making are interrelated. Hence, in order to take appropriate business decisions, business leaders cannot deny the significance of business ethics. Conclusion In this assignment an in-depth analysis has been provided to find out how the management of company can maintain ethics at workplace. It had been found that contribution of employees in a company cannot be denied. However, some of the mangers and leaders of company 7-eleven has denied this aspect. It led the company to a serious ethical issue, which hampered the business operation of a company in significant manner. It had been found that huge amount of employees within the organization were humiliated and exploited. The managers and leaders of the company did not provide much importance to work ethics and values. Discrimination and inequality in the payment system are the major ethical concerns that the company was facing. In order solve these issues; the management of the organization has to follow certain rules and regulations. They have to promote equality and respect within the workplace. They have to treat every employee equally and with respect and dignity. They also have to involve employees in the decision making process and follow democratic leadership style. It will involve employees much with the organization and make them feel valued. They have to understand that providing work from home facility and extra incentives for not taking leaves can motivate employees to take less leaves. In order to lead workers to organizational goals, business leaders have to develop effective communication with every worker in order to know their issues and challenges. Hence it can be mentioned that values and beliefs of managers and the leadership style has significant impact on the decision making approach. Managers have to listen to employees to know their issues and challenges and try to solve them as fast as possible. It will motivate employees to fulfill organizational objectives. In the scenario of 7-eleven, i t can be seen that the organization had no idea about the ill-treatment of the employees by its franchisees. Therefore, it is also important for the franchisors to keep a frequent communication with the franchisee companies so that it can have information about the steps of the franchisee companies. References 7-Eleven: Wage abuse claims puts scrutiny on Fair Work response. (2015). Financial Review. Retrieved 28 September 2016, from https://www.afr.com/business/retail/fmcg/7eleven-wage-abuse-claims-puts-scrutiny-on-fair-work-response-20150830-gjavxh Albert, N., Merunka, D. (2013). The role of brand love in consumer-brand relationships.Journal of Consumer Marketing,30(3), 258-266. Alberts, J. K., Nakayama, T. K., Martin, J. N. (2015).Human communication in society. Pearson. Ardichvili, A., Jondle, D., Kowske, B., Cornachione, E., Li, J., Thakadipuram, T. (2012). Ethical cultures in large business organizations in Brazil, Russia, India, and China.Journal of Business Ethics,105(4), 415-428. Audi, R. (2012). Virtue ethics as a resource in business.Business Ethics Quarterly,22(02), 273-291. Barry, N. (2016).Business ethics. Springer. Ford, R. C., Richardson, W. D. (2013). Ethical decision making: A review of the empirical literature. InCitation classics from the Journal of Business Ethics(pp. 19-44). Springer Netherlands. Fraser, M. (2016). Investigating 7-Eleven: Who are the real bad guys?.Griffith Journal of Law Human Dignity,4(2). May, D. R., Luth, M. T., Schwoerer, C. E. (2014). The influence of business ethics education on moral efficacy, moral meaningfulness, and moral courage: A quasi-experimental study.Journal of Business Ethics,124(1), 67-80. Michaelson, C., Pratt, M. G., Grant, A. M., Dunn, C. P. (2014). Meaningful work: Connecting business ethics and organization studies.Journal of Business Ethics,121(1), 77-90. Patino, A., Pitta, D. A., Quinones, R. (2012). Social media's emerging importance in market research.Journal of Consumer Marketing,29(3), 233-237. Sivaraman, G., Turner, P. (2016). The 7-Eleven wages scandal: The need for law reform.Precedent (Sydney, NSW), (135), 53. Smith, W. K., Gonin, M., Besharov, M. L. (2013). Managing social-business tensions: A review and research agenda for social enterprise.Business Ethics Quarterly,23(03), 407-442. Stanwick, P., Stanwick, S. D. (2013).Understanding business ethics. Sage. Terry-Armstrong, N. (2016). 7-Eleven: A case study of a flawed franchise model.Busidate,24(2), 8. Uche, C. B. N., Oghojafor, B. E. A., Akaighe, G. O. (2016). A Comparative Analysis of Managerial Behaviour in the Public and Private Sectors in Nigeria.Journal of Emerging Trends in Economics and Management Sciences (JETEMS),7(3), 116-123. Weaver, G. R. (2014). Encouraging ethics in organizations: A review of some key research findings.Am. Crim. L. Rev.,51, 293. Wotruba, T. R., Chonko, L. B., Loe, T. W. (2015). How Do Codes of Ethics Affect Managerial Behavior? The Impact of FAmiliarity. 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Marketing Mix Strategy of the Volkswagen Touareg TDI - UK

Question: Describe about the Marketing Mix Strategy of the Volkswagen Touareg TDI, UK? Answer: Target Market Target market is defined as targeting the group of customers according to the marketing and classification of products. It is divided into four categories- geographic, demographic, psychographic and behavioral market (Cadogan, 2009). In case of Volkswagen Touareg DTI in UK the consumers belong to middle and upper class who are obtaining for this type of sport utility vehicle (SUV). This is one of the best locations for the young ones aged between 25-35 years who loves adventures. This SUV is targeted for individuals who love off road rides as this type of car is sturdy in nature for people visiting for adventure places. This drive is powerful and the mainly targets the men in this section who have disposable income. This segment of target market is extreme low or high meaning the age group varies between 25-35 years and after 50 years. They can be retired professionals who want to enjoy the warmth of nature and even singles can also enjoy the service provided. It represents lifestyle of the individual as they feel connected with the service Touareg DTI is providing them. The relationship of the product depends on masculinity as the car is hard and muscular in look providing the feeling it is made for males. They are being loyal to the product they drive as the luxurious feel.ing of the car as it is a five seater car. This happens as the youth can drive it with family or friends to an adventurous outing for sharing the similar attitude (Ferrell and Hartline, 2005). Plan Objectives The various objectives of Volkswagen Touareg DTI are as follows: Volkswagen aims to increase the sale of the product by 5% in the next year which will act as increase in sales revenue This can be achieved by contributing 6% thorough promoting the products via online tools such as Facebook, YouTube, search engine optimization (SEO) etc. This will help in increasing profit of brand by increasing return on sales by minimum 7% so to study the financial reportseffectively By the end of 2018 Volkswagen Touareg DTI aims to be one of the top models of automobile market in UK (Jain, 2000). The production of the product will increase in volume by 3% to fit the demands for the customers and fulfill their needs To make the customers more aware of the product the target market will increase by 8% as per the existing market Differentiation and Positioning Differentiation Differentiation refers to forming products which are specialized for particular sections by gaining competitive advantage in the market (Mullin, 2006). It depends on the target market of the product for its differentiation and the three competitors of Touareg DTI are: Land Rover- Range Over Sport utility vehicle are gaining more advantage in the market form full size cars. The price of Range Rover is starting from 79,950 but the biggest disadvantage is its space. The space is compact while having seven seating option and third row has the option of folding seats. This shows the flexibility of the car but the experience is old dated. They have two versions of the care- 3.0 litre and V6 diesel engine and a hybrid version of both above. It is lighter in weight because of the aluminum used by reaching from 0-60mph in 6.8 seconds. The car can adjust as per the road surface as it has Terrain Response system in it in using it with dynamic mode. This is achieved when the button is selected which adjusts the gear, ride height and throttle system as per the mode selected (Auto Express, 2015). It has rear camera attached to it for gaining the confidence to drive. Audi-Q7 The cost of the model is 50,340 and it can be opted on lease with $740/month with an engine of 333-hp 3.0 liter V-6. It has automatic gearbox which reaches to maximum to eight with a luxurious interior of 23 speakers attached. The car reaches 60mph in 5.5 seconds and at present it can go to 166 feet at a speed of 0-70mph. They have suspension, engine, and transmission providing comfort depending on the individual setting mode. The visibility of the car is good on outer front by having navigation through Google Maps by having LED headlights for seeing on the road. It comes with 12.3 inch TFT screen for making the customer interface by acting cleverly. They have an advantage such as virtual cockpit, recognizing the handwriting by having front ventilated seats with climate control feature (Caranddriver.,2015). The customers can also have $2400 package in which Audi will provide driver assistance which includes landing departure, recognizing traffic signals etc. It has seven seating spac e available with the travelers for taking maximum with their family with children. BMW-X5 The cost of SUV model is 56,725 with the top speed going to 147mph. The performance of the car can be judges with reaching 5.9 secs in 0-62mph as it is dynamic in nature. The con in the product is traffic lights as it comes directly to the face by way of reflection. The speed of X5 is the best as it can bend through spaces living up to the expectation of a SUV. The model comes with a pro to turn the car into Eco Pro mode which directly saves fuel by changing in certain features with a maximum speed of 47mpg. The deck of X5 is spacious as it can carry huge number of electronic items such as gadgets and gizmos. The car is backed in providing space for seating as it has only five seats in it by making it compact for travelers (Mills, 2015). FEATURES SUV CAR COMFORT It depends on the spacing which belongs to AUDI Q7 Land Rover- Range Over as per mode and updated technology. PERFORMNACE Audi-Q7 SPACE Land Rover- Range Over AUDI Q7 BUDGET AUDI Q7 DIESEL Land Rover- Range Over AUDI Q7 SPEED BMW X5 FUEL SAVE MODE BEST SUV BMW-X5 AUDI Q7 From the above table it can be seen that every automobile is catering to the needs of the travelers based on certain criteria. The needs of the customers are different are different in their perspective as compared with other models. In case of Volkswagen Touareg DTI the cost of the product is less with other competitors in the market. So it can be said that Touareg DTI can be purchased from the price and luxury perspective. This makes the brand more effective for customers to purchase as per the features and design of the car. Positioning The positioning of the brand model Volkswagen Touareg DTI is based on individuals whom prefer sturdy car. This is best suitable for people who love adventures off road as the car is powerful in its aspects (Paley, 2007). This is used only for adventure proposes mainly in rough roads to get the experience of being adventurous in the meantime. This is done for the customers who love driving in off roads by fulfilling their needs by advertising their product. The symbol of Volkswagen refers to trust reliability and character which having strong customer loyalty (Hooley et al., 2004). This helps in creating a bond of relationship between the individual and the product. The competitors have to be in terms with Touareg DTI to make their share grow in UK and it is mostly shared by youth generation i.e. male. He may be a college graduate or a working professional being single and enjoy the rides delivered by the product (Diwan and Bodla, 2011). The care weighs as per the style of the product in the automobile sector by managing customer value. The product is positioned in the market as getting the ultimate experience by driving and has to be on social media like T.V., Facebook, and YouTube for trailers etc. for making the customers aware of the car. They can position it as an easy drive off road vehicle by promoting it in UK market for gaining the experience of ultimate seating (Ellson, 2004). This positioning has made the market of Volkswagen as the most competitive market in terms of its competitor. The SUV model attached to the brand in form of various varieties act as a model to its market captured on the set. The model helps in generating an impact on the customers by utilizing the available resources with the product in the automobile market in UK (Puska, 2013). Revised Marketing Mix The marketing mix is a controllable variable depicting the 4Ps namely product, price, place and promotion. The marketing mix of Volkswagen is not different from other similar competitor but the brand equity of the company makes it stand out in the luxury car segment (Srinivasan et al., 2009). The Volkswagen Touareg TDI is midsized luxury car that is positioned by the company as luxury crossover SUV (Sports Utility Vehicle) in the UK luxury car market known for its penchant for luxury cars. The marketing mix is strategic marketing tool used by the marketing department of Volkswagen to cater to the identified segment of the target market more effectively. In the process the company designs a communication to capture the mind share of the target customers in UK with information about the product, its features and how it differs from the competitors like Land rover range rover, BMW X5 and Audi Q7, the pricing strategy offered by the company, the distribution channel (place) worked out by the company to make the product accessible to the target customers easily and the promotional measures undertaken by the company to deliver the information to the target customers effectively to maximize the profit and revenue for the company (Srinivasan et al., 2009). In this context the company had designed the marketing mix earlier but with the current scandal regarding emission regulation where the company was charged with the allegation of crossing the emission limit by 40% causing the environmental hazard and legal implication impacting the business of the company and drop in the sales volume and sales figure (Sriram et al., 2006). Based on this scandal and the consequent impact on the business of Volkswagen Touareg TDI, the marketing department of the company has decided to develop a revised marketing mix to enhance the profit and revenue of the company and improve the image of the Volkswagen Touareg TDI model amongst its target customers. The revised marketing mix for Volkswagen Touareg TDI is examined below where the product, price, place and promotional mix is evaluated and the required changes effected to make them more attractive for the target customers and improve the brand image of the car (Sriram et al., 2006). Product Volkswagen as luxury brand is known for its features comprising seating capacity, storage capacity and gas mileage, image of high quality, extended warranties with five different extended coverage contracts, delivery facility and installation of the product with seats, stereo, cruise control and engine and sustainability of the product (Yoo, and Hanssens, 2005). In context to the Volkswagen Touareg TDI the product evaluation will be done on three parameters performance, ride and handling and refinement. The model uses 258bhp 3.0-litre V6 diesel engine that pulls effectively from low revs and delivers better control during overtaking at all speeds. The suspension on SE model provided comfort and control. But the R-line has lowered suspension and big wheels that make the ride not very comfortable. Both engines are faintly coarse when driven in high revs. The standard eight-speed gearbox is automatic with smooth shifts. It has lots of kits with strong engine and control in the interior offer easy use (Mller, 2006). But compared to the BNX X5 has plusher interior and better swift handling while the Volvo XCS is more spacious compared to Volkswagen Touareg TDI. It will improve the emission of toxic gas to make it more environment friendly car. Price Volkswagen always positioned itself as a premium brand with premium pricing strategy. All the products of the company are highly priced with the average difference exhibiting 10% higher than the competitive brands (Herrmann et al., 2007). The justification for the premium pricing was upscale driving and ownership experience of customers. The growing competition in the luxury car segment did influence the pricing strategy and the company reduced the pricing to only 5% higher than competitor with justification that it is too expensive compared to the quality delivered. In context to the Volkswagen Touareg TDI it was evaluated that the earlier pricing strategy adopted for the model was adjudged expensive. It was further escalated by the emission regulation scandal and the company was losing the market share to Land rover range rover, BMW X5 and Audi Q7. The company has priced the 5 version Land rover range rover, BMW X5 and Audi Q7 in the range of 43,605 to 48,405. It was changed to 39, 470 to 43,918 for the five version and position it more attractive for the target customers compared to the rivals like BMWX3 and Land Rover discovery (Herrmann et al., 2007). The justification for the revised pricing strategy is the company will gain market share from its competitors. Price (Distribution Channel) Volkswagen like most of the other luxury car maker appoints dealers and super dealers to sell the cars. The distribution channel (place) in the automobile sector comprises of middleman and dealership that source the cars by directly purchasing or by taking help of local bank and selling them to direct customers. In case of Volkswagen the company provide the control to dealership and prefers to work like franchise and function based on the guidelines of the company (Hartmann, Nair and Narayanan, 2011). The aspects under this marketing mix focus on channel decisions, packaging, storage and transportation. In context to the Volkswagen Touareg TDI the company used the same distribution model to make the cars available to the target customers. As such there will no change in the place (distribution channel) adopted by the company in the revised marketing mix. Promotion The promotion mix strategy undertaken by Volkswagen focus on integrated promotional mix that include personal selling, advertising, sales promotion, personal selling, publicity and public relation to communicate with the target customers and build the brand image and create product awareness related with the Volkswagen Touareg TDI (Naik and Peters, 2009). Each of the elements of the integrated promotional mix adopted by the company will be evaluated to understand how it enhances the marketing mix and increase the market share and profit. At an industry level the company has own sales team that prospect, secure and grow the client base. In addition it sell to the authorized Volkswagen dealers and take care of the logistics and relationship (Winer, 2009). The dealership promotes the cars and sells to end customers. The advertising as promotional measures is used extensively by the company in print, electronic and digital media. Similarly the company organise different events including Volkswagen sign and drive event to promote the Volkswagen Touareg TDI. The company indulges in innovative publicity that helps the company to garner significant publicity in the UK market and registered in the minds of the target customers (Briggs, Krishnan and Borin, 2005). Volkswagen maintains in-house public relation department taking care of media hits, gaining publicity for brands and products and building the relationship by engaging in social networking sites like Face book, You Tube and Twitter. People, process and physical evidence But with the advent of service industry the traditional marketing mix of 4Ps is extended to 7Ps and it include people, process and physical evidence. In context to the Volkswagen Touareg TDI model marketed by the company these additional 3Ps also play significant roles (Lovelock, 2011). The people signify the marketing and customer service team who entertain the customer and make the purchase experience more rewarding. The company has trained the employees to cater to the customers effectively. The process of the company from manufacturing to marketing is well structured and helps the customer at every stage of the purchase (Briggs, Krishnan, and Borin, 2005). The company has dedicated customer service team to take care of complaints, grievances and feedback. The physical evidence is related with the design and appearance of the Volkswagen dealership so that it makes a lasting impression on the customers visiting the place and give them a sense of trust and comfort and thereby by mak ing them purchase the products from the outlet. In fact the three additions to marketing mix enhance the competitive advantage of the product like the Volkswagen Touareg TDI and impact the profit and revenue of the company positively. Recommendations The problem identified in the marketing mix is related with current scandal of emission regulation of the Volkswagen Touareg TDI. It was identified to be 40% higher than the federal emission regulation set by the UK government and the company needs to reduce the nitrogen oxide emitted by the engine damaging the environmental balance of the country (Close et al., 2006). It is part of the product defect and it constitute the first P of the marketing mix of 4Ps (Product, price, place and promotion). Based on the revised marketing mix developed by the company it is recommended that Volkswagen needs to modify the product and pricing strategy adapted by the company to cater to the target customers and improve the image impacted by the scandal of emission. The first recommendation is to modify the product defect and reintroduce the product in the UK market (Chintagunta, Nair, and Sukumar 2009). The second recommendation is change the pricing strategy by reducing the price hike higher by 3% to make more attractive and make the Volkswagen Touareg TDI value for money product. The third recommendation is design the new advertisement to communicate the revised marketing mix to the target customers effectively and attract them to buy the product. References Auto Express, (2015). Range Rover Sport Review. [online] Available at: https://www.autoexpress.co.uk/land-rover/range-rover-sport [Accessed 28 Jan. 2016]. Briggs, R., Krishnan, R. and Borin, N., 2005. Integrated multichannel communication strategies: Evaluating the return on marketing objectivesthe case of the 2004 Ford Fà ¢Ã¢â€š ¬Ã‚ 150 launch. Journal of Interactive Marketing, 19(3), pp.81-90. Cadogan, J. (2009). Marketing strategy. London: SAGE. Caranddriver.com, (2015). Audi Q7 - Car and Driver. [online] Available at: https://www.caranddriver.com/audi/q7 [Accessed 28 Jan. 2016]. Chintagunta, P.K., Nair, H.S. and Sukumar, R., 2009. Measuring marketingà ¢Ã¢â€š ¬Ã‚ mix effects in the 32/64 bit videoà ¢Ã¢â€š ¬Ã‚ game console market. Journal of Applied Econometrics, 24(3), pp.421-445. Close, A.G., Finney, R.Z., Lacey, R. and Sneath, J., 2006. Engaging the consumer through event marketing: Linking attendees with the sponsor, community, and brand. Journal of Advertising Research, 46(4), pp.420-433. Diwan, S. and Bodla, B. (2011). Development of empirically based customer-derived positioning typology in the automobile industry. Journal of Strategic Marketing, 19(6), pp.531-550. Ellson, T. (2004). Culture and positioning as determinants of strategy. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan. Ferrell, O. and Hartline, M. (2005). Marketing strategy. Mason, Ohio: Thomson/South-Western. Hartmann, W., Nair, H.S. and Narayanan, S., 2011. Identifying causal marketing mix effects using a regression discontinuity design. Marketing Science, 30(6), pp.1079-1097. Herrmann, A., Xia, L., Monroe, K.B. and Huber, F., 2007. The influence of price fairness on customer satisfaction: an empirical test in the context of automobile purchases. Journal of Product Brand Management, 16(1), pp.49-58. Hooley, G., Saunders, J. and Piercy, N. (2004). Marketing strategy and competitive positioning. Harlow, England: Prentice Hall Financial Times. Jain, S. (2000). Marketing planning strategy. Cincinnati, Ohio: South-Western College Pub. Lovelock, C., 2011. Services Marketing, 7/e. Pearson Education India. Mills, J. (2015). THE BATTLE OF THE SUPER SUVS: BMW X5 VS VOLVO XC90 VS AUDI Q7. THE SUNDAY TIMES. [online] Available at: https://www.driving.co.uk/news/the-battle-of-the-super-suvs-bmw-x5-vs-volvo-xc90-vs-audi-q7/ [Accessed 28 Jan. 2016]. Mller, K., 2006. The Marketing Mix Revisited: Towards the 21st Century Marketing by E. Constantinides. Mullin, R. (2006). Creating a marketing strategy [marketing development]. Engineering Management, 16(6), pp.40-41. Naik, P.A. and Peters, K., 2009. A hierarchical marketing communications model of online and offline media synergies. Journal of Interactive Marketing, 23(4), pp.288-299. Paley, N. (2007). The marketing strategy desktop guide. London: Thorogood. PuAika, A. (2013). konkurentne marketing strategije // competitive marketing strategy. 1(8). Srinivasan, S., Pauwels, K., Silva-Risso, J. and Hanssens, D.M., 2009. Product innovations, advertising, and stock returns. Journal of Marketing, 73(1), pp.24-43. Sriram, S., Chintagunta, P.K. and Neelamegham, R., 2006. Effects of brand preference, product attributes, and marketing mix variables in technology product markets. Marketing Science, 25(5), pp.440-456. Winer, R.S., 2009. New communications approaches in marketing: issues and research directions. Journal of Interactive Marketing, 23(2), pp.108-117. Yoo, S. and Hanssens, D.M., 2005. Modeling the sales and customer equity effects of the marketing mix. UCLA Anderson School of Management, 2.

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The Industrial Revolution The Industrial Revolution was a period in history when mankind found innovative and efficient ways of producing goods, manufacturing services and creating new methods of transportation. This not only revolutionized the way the market system functioned, but also changed the way people perceived their status in society and what they required as basic necessities. However, the price that humanity was forced to pay for the emergence of the Industrial Revolution greatly outweighed the rewards that it brought alongside its origin. Prior to the Industrial Age, the Western European market operated on a simple "putting-out" system. The average producer was able to manufacture a product in the same area that he or she lived on and the demand for that product was usually set by a few local consumers. The process was easy and simple, provided that the product being created was always required by someone else. However, the invention of Machinery and all of its accompanying peripherals allowed producers to start manufacturing on a mass scale. With factories placed in central locations of the townships (known as centralization), the previous system was dismantled and categorized into steps. No longer would one person be required to build, market or transport their product since the new system introduced the art of specialization. Specialization allowed a person to perform a single task and guarantee them wages as a source of income. However, as wonderful as this might seem, this new system led to the emergence of a n working class (proletariat) and forced them to depend on market conditions in order to survive as producers. Although seemingly content at first, those who became employed by these factories were immediately subjected to deplorable conditions. Arnold Toynbee made a scholarly assessment of this new wave of socio-economic behavior and concluded that the working class is suffering due to a series of hardships that make their lives miserable. He cited low wages, long hours, unsafe conditions, no provisions for old age, a discipline determined by machine and whole families being left with a low income rate as being a recurring problem that exploited the integrity and efficiency of Industrialization. This subsequently led to a period of "depersonalization" which meant that the employer-employee relationship was deteriorating in exchange for this new system. No longer could a worker befriend his boss or maintain a stable friendship since the divisions between their market classes made this al most impossible. One relied on the other for subsistence and therefore this dependency gave the property owners an upper edge in terms of negotiating income and support. Since the proletariat owned nothing but his labour, his abuse was imminent at the hands of some ruthless bourgeoisie. Clearly, this revolution was not aiding all the citizenry of Western culture. Since European man had found a way to increase the amount of products being manufactured, he also found a way to speed up the process through specialization and Urbanization. The growth of giant factories in Manchester, England skyrocketed from 77,000 in 1801 to 303,000 in 1850. People began leaving their countryside rural areas in exchange for an Urban life lead by the clock. The farm worker became the factory worker literally overnight in order to compete with these new market forces that had swept across Western Europe. T.S. Ashton, a prolific historian, saw this transition as being a positive force during the inauguration of the Industrial juggernaut. He believed that with Industrialization and Urbanization there existed a greater stability of consumption since a regularity in employment meant that goods were always being produced and transactions were ensuring that a greater proportion of the population was benefitting. He lauded the existence of a large class of workers since guaranteed lower prices because more people were well above the level of poverty. Be this as it may, Karl Marx had a radically different opinion on the effects of Industrialization. He was disgusted by the fact that the new working class was always at the mercy of their own employers and depended too much on the market. This dependency, he preached, would lead to an uprising involving the collective powers of the proletariat. This prophetic warning would lead to many other revolutions, most notably the Bolshevik revolution in Russia, and opened a new age of human suffering and decadence. In conclusion, the Industrial Revolution presented mankind with a miracle that changed the fabric of human behavior and social interaction. Eventually, it even influenced political ideologies and spread across the four corners of the Earth. However, in its silent and seemingly innocent way, the majority of the population in Western Europe

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