Competitive Analysis Fiat 500
Competitive Analysis Competitor 1: MINI COOPER HARDTOP SWOT ANALYSIS * Strength * Style: very unique, can be instantly recognized as a Mini, grabs customers’ attention. * Design: The emphasis was on making them stylish, forming an important part of the MINI’s personality, but easy to use and easy to understand. * Safety: – Setting new small car safety standards, – A full array of airbags, including front and side airbags for the front passengers including head protection airbags too. * Target market: Geared towards not a certain demographic but different demographics of people.
* Good warranty: Warranty period is for 4 years or 80,000 kilometres, whichever occurs first. – 12 year warranty for body (corrosion), for all vehicles first registered after 1 January 2004 – 2 years for Original MINI Parts – 2 years for Original MINI Accessories * Good post-purchase service: – A free 3-year/50,000 km (whichever occurs first), no-charge scheduled maintenance.
– CONDITION BASED SERVICE (CBS): Set maintenance schedule for customer by tracking how often, how adventurously and how far they drive. – For a one-off payment, customers get a whole range of services that are valid nationwide. Strong effect on customers’ lifestyle: -Selling men’s and ladies’ apparel, accessories, travelling products, electronic gadgets, model minis, etc. to affect customers’ lifestyle and foster loyal customer. – An Owner’s Lounge on the web site that only MINI owners can access – A community (MINI Space), interact well with Facebook for dealers and users to share news, events and ideas.
* Weaknesses * Higher price: the prices are higher than its competitors’ (almost double the prices of Fiat 500 and Smart) * Not attract men as well as women Opportunities * Fuel efficiency, low carbon emission fits the emerging trend of eco-consciousness. * Appeal to the countries where gasoline is expensive and where need a small car. * Threats * Have competitors like fiat 500, smart for two. * Shrink of automobile market STP MINI will appeal to a wide cross-section of customers – of different ages and from different backgrounds. What they share is an enthusiasm for driving and the look of the car.
However, there are three particular groups to whom we think the MINI will appeal.
Generation Y (18-31): This group is distinctive in their attitudes and consumer behavior. They love to try new things and to define their own fashion. MINI fits their image and their attitude to life. Let’s motor and have fun. * Generation X (32- early 40’s): Mini Cooper attracts people in this group who wish to be young and sporty. In this group, Mini Cooper is pretty affordable.
At same time, they can share Mini with their children. * Mini enthusiasts: They just like the overall style and design of MINI COOPER. They believe MINI COOPER represents their life attitudes.
Competitor 2: SMART FORTWO SWOT ANALYSIS * Strength * Safety – Full-size driver and passenger front air bags, driver and passenger knee air bags, window air bags – Passenger seat occupancy recognition system * Environmental awareness: Protection of the environment is one of the main corporate objectives of the smart brand – Using unmixed materials for instrument panels, wheel arch lining and underbody paneling allow simple disassembly and high quality materials recycling. – Wheel arch linings of our vehicles are made of 100% recycled plastic.
Fuel efficiency: Comparing Fiat 500 (30 / 38 mpg) and Mini cooper (29 / 37 mpg), Smart fortwo is the most fuel efficient (33 / 41 mpg). (city/hwy) * More Economic: Price ($13,124 – $17,950) is much lower than Mini cooper ($24,140 – $42,770) and slightly lower than Fiat 500 ($14,995 – $21,790) * Weaknesses * Designed for driving in cities, therefore not perform well on highways * Engine makes a lot of noise * Opportunities * Fuel efficiency, low carbon emission fits the emerging trend of eco-consciousness. * Threats * Seems fading fast * Have tough competitors like Mini cooper and Fiat 500. STP
Smart is designed to constantly improve consumers’ mobility in the cities of the world – in form and function. In this way innovation opens the way to urban mobility of the future. There are two target markets.
* Urban families: As the small size, light weight and economic design, households would like to drive smart as a tool of shopping, commuting and picking up children. * People who have strong eco-consciousness: Due to the environmental friendly concept of Smart, people who are sensitive about the impact of their consumption has on their natural environment. Smart’s eco-minded will attract them.