A well-developed and clear marketing strategy is very imperative to any company. In addition to this, developing the proper marketing mix could be the difference between success and failure for any running company. Promotions are part of any marketing process. In its effort to develop the right marketing mix, Moller International ought to adopt a number of approaches in aspects such as recruitment, compensation and sales promotional methods (Moschis, 1994). Like any newly established business looking to carve out its niche in the market, Moller skycar will also face its fair share of challenges. In its exploits to come up with the right marketing mix that would ensure profitability and financial success in the lucrative automobile business, it will be forced to try out a myriad of approaches before they could find the right one.
Moller Skycar should use multiple channels to promote its products. The first channel that the company should uses to promote its product is the in Compensation Structure, where staff is well compensated. The workforce is the single most important asset of any organization. For a company that is starting out and looking to secure a sizeable share of the market, the workforce is very important. Unlike machines that can work at a certain optimum level consistently, human beings are susceptible to mood swings and changes (Moschis, 1994). As a result, it is imperative that the workforce remains motivated and upbeat. In a world where money is at the heart of everything, particularly material objects, its importance cannot be overemphasized.
Properly compensating one’s employees will ensure that the company reaps the very best out of them. It will also motivate the employees to seek success in all that they do.
In addition, Moller International should administer good sale force management. The sales force is the driving force behind the success of any company or organization. The ability to integrate many different individuals from diverse backgrounds and with even more diverse interests and mould them into a single and powerful force with one goal is the key to success in any organization. This is because the ability of these individuals to work together for a common goal is essential to the success of the company. Primarily, is proper training of the sales force. Rather than focus on the job being done, it is key that an organization focuses on the mentality with which the employees are carrying out their duties. Instead of basing employee training on selling so many Skycars, the company should center its training on creating a winning mentality in its employees, both permanent and part-time. In this way, the employees will have the right attitude while doing their job-the kind of attitude that takes companies off the ground. Having such as attitude will ensure the entire workforce is working for a common goal.
The second channel that the company should use to promote Moller Skycar is the social media platform. The company has already used online platforms, social media and mobile in the advertising, more so being hosted on world’s great news channels like CNN and CBSN. Moller International should maintain a high-level product in print advertising. The company should also use celebrities to endorse its products, for instance, Companies like Audi and KIA have advertised their products in movies and music videos in the recent past. This will give the company a global recognition and visibility since we are now living in a digitized world.
To boot, the Skycar should have partial supply. It goes without saying that when the supply is low, and the demand is high for any given product, then the prices can easily be manipulated by the company, hence an inclined turnover for the product. This also brings to light the exceptionality of the product. With its distinctive features, Moller Skycar will tend to attract elite customers, hence making the price of the product to go up.
Another promotional Strategy is the price. This approach is primarily geared at realizing profitability while paying close attention to affordability. For Moller Skycar to succeed in its existence, it will have to strategically set prices that are at a normal market level. This will give all types of customers a chance to access the product. Alternatively, Moller can decide to hoist the market price for the very first few buyers, and then later lower the price with the purpose of attracting more prospective customers. Lower prices in addition will facilitate fast moving of the Skycar, and ultimately Moller International will have enough revenue to total on the production cost.
Moller Skycar promotional strategy is supposed to be insistent, in a way that the product will be extensively known in the world. By taking the above-mentioned strategies, I believe that the product will be a great success, not only for the company, but also in the innovative world, as many innovators have built various flying equipments with little or no success. Establishing a proper promotional structure Moller International will probably influence its growth patterns.