Changing Consumer Preference Strategy

This report provides a marketing strategy that alters the 22-27 year old female Young Optimist (Levine, 1997) consumer preference away from a second hand BMW 320 to a new Honda City VTi-L.

Findings were explored through understanding of the target consumer and applying this through the customer value evaluation, value proposition, goals and objectives, marketing mix strategies and justification.

Honda pursues a sustainable competitive advantage through building the four overarching strategies that create and deliver value from the marketing program.

Below states the unique selling point Honda provides under each value strategy:

• Best service - customisation and personalisation in its products and service

• Best product - engine quality, reliability.

• Location - high traffic showroom positioning and strong online presence

Honda's value proposition 'the power of dreams' which resonates with the target consumer as they are in the life stage of mapping out their future. Honda, is also already known for, and promises a quality powerful engine that is durable and will last a lifetime.

BMW although is offers luxury and image their value proposition of 'the ultimate driving machines' talks more to someone mechanically minded and doesn't directly resonate with the customer.

Honda's goals and objectives are: to create and deliver customer value as to become a global leader in sales and safety by 2016.

The primary target market for Honda City VTi-L is Young Optimist. This refers to young people who pay attention to the images and want to make right choices. They attend universities, busy with planning career and also think about their future.

It is recommended that this consumer purchase the Honda City VTi-L. Although the appeal for the BMW is the luxury and brand image the brand provides, Honda is still a reputable brand. Moreover, the brand image of owning a brand new car versus a second hand car along with the price similarity and the...