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Product:
SUV Car
Brand Name:
Equal Balance.
Why Equal Balance? -This is because our car is designed targeted for families. Balancing and stability of the car plays a big role in this.
Car Name:
FFV (Family Friendly Vehicle).
Why FFV? -Our motive is to target families and working adults. Hence, the name FFV because it is a car specially designed for families.
Tagline:
Keep your family SAFE in style.
Our product is basically a SUV car.
It is a 5 sitter and an affordable urban vehicle.
It might sound like any other ordinary SUV but it is not.
This car consist of 4 safety airbags instead of 2.
The back airbags are located right behind the seat of the driver.
This is why it is safe for not only children but also for the whole family.
Target Audience:
Working adults with family who just started out in the working field and able to afford an above-average car. The working adults will be ranging from late 20's to 40's who has a family already or in the midst of building one. The car best fit with families with 2 to 3 children.
Unique Selling Point (USP):
Our targeted audiences are small families or working adults who wanted to step out from their comfort zone and are stable enough to afford an “above average” car. Its price ranges from RM90k to RM110k. Therefore, it is considered as a mid-ranged vehicle. We also target families with small children. With that, they can travel around comfortably as the back seat consist a lot of leg space. We also included 2 extra safety airbags behind the driver seat so that children behind will have extra protection too just in case. We have a total of 4 safety airbags in FFV. Not only that, our car also has extra compartment, beside and behind the driver seats. This is to favor women and their children to have extra space in the car to locate more stuff such as water bottles, everyday necessities, food and other storage space. It is very suitable for families during the weekend or even schooling days.
Current Situation Analysis
1) A family who is buying their first car:
A newly wed with 2 young kids has been living on public transport for the past few years. The wife has been riding a bicycle every morning and afternoon to send her 2 kids to kindergarten back and forth. As for the husband, he has been using public transport for work everyday travelling from a small town to the city. The husband has been struggling a lot with low income and transportation issue that’s why he’s been struggling with choosing an affordable family car. Our FFV comes with a very affordable price and a special installment plan which any fresh graduates can consider. The husband can now travel to work with ease and assist his wife in sending the kids to kindergarten.
2) A family that is planning to change their current old car to our FFV:
A former race car driver that drives a 2 door sports car has been struggling with his family because of his car that does not have enough space for his wife and kids has to upgrade to a more desirable car for his family. He craves car with performance but an SUV has never came to his mind until the arrival of our very own FFV. Our FFV is a big SUV with high Eco boost performance for better driving pleasure and also very favorable for family with its spacious boot. So now he enjoys the performance the car provides and the convenience the car is for his family.
3) A guy who wanted a bigger car for work purpose:
Ah Chong is an ambassador for an IT company and he is required to travel outstation frequently for events and promotions for his products. He has been struggling with over budget fuel consumption and his sedan car is too small to fit his IT products with the lack of boot space. After discovering the FFV that has a very Eco friendly engine with low fuel consumption he saved up a lot of fuel. Not to mention the driving stability chassis system which gives him additional comfort for long distance drive. The extra boot space allows him to transport his product equipment with ease and safely due to the handling performance it provides.
Mission Statement:
To distribute a safe and reliable family car, providing customers with high quality products, services, and information; to present our company in an honest and trustworthy manner in all transactions.
Vision Statement:
To be the market leader and the lost cost distributor of high quality SUV vehicles in the Malaysian market. The right material, to the right place, at the right time, for each customer.
Competitor Analysis and Product Positioning
(Honda CR-V)
With the price range of RM135,982 - RM165,170, Honda Malaysia (HM) announced that its 2014 sales grew by 50% year-on-year – from 51,550 units in 2013 to 77,485 units, beating the 76k target that sounded ambitious when it was first announced.
That huge jump propelled Honda to be the top non-national passenger car brand in Malaysia for the first time ever. Taking into account pick-up trucks (which Honda doesn’t have), the HR-V brand is second only to Toyota in total non-national vehicle sales, and is fourth overall. Honda is also the biggest gainer in 2014, commanding an estimated 11.6% market share, a 3.7% bigger slice of the pie compared to 2013.
Channel of Distribution and Pricing
Being a new brand, we would want to try out with our own showrooms and exhibitions. By having our own showrooms and exhibitions, we would have to pay for more expenses which is not very ideal for the company as we have no brand reputation. But, we are willing to give it a try and test the market at the same time. We would start off with only one showroom. In the following years as we expand, then we will slowly increase the number of showrooms to conveniently serve our customers better. We will also create an online website by uploading pictures and the specs of the car online. From there, we would also have road shows advertised on the social media. Ideally we would place our road show campaigns with other events for an example: F1 race. There we will save up rental money and electricity bill and we would only have to pay a certain amount to the event organizer to have our products exhibited. Once we have a better reputation, we would have our showrooms expanding slowly as we are still a new product. We would like to introduce ‘drive-to-you’ service where consumers go to our website and tell us that they want to test drive our product, there our employees would drive up to meet our clients personally with an extra fee. Our product advantage is that we are a new brand and we can charge our consumers on a cheaper price. We can charge our customers around RM70-90k ranging from specs.
SWOT Analysis
Strength- Our objective is to design a SUV that is tough and fuel efficient. The standard SUV costs about 100k and above which would be not ideal for a fresh grad or a young family trying to adjust their financial situation. With our product, consumers get to enjoy the luxury of having an SUV that is not only cheaper but also fuel efficient. Consumers also get to enjoy the full specs of a standard SUV like good steering control and the durability of the car. A standard Honda CRV ranges around 120k-140k but our product would be definitely cheaper than standard market price. Our strength is our price and the safety design for families with small children.
Weakness- Our weakness would be being a new brand, consumers might not trust us as much. Therefore a good advertising strategy and marketing skills are very crucial in this entire launching of our product. We might not even have many products available as people might not be very interested in choosing our SUV because of our brand which is unknown to the market yet.
Opportunity- The chances of us getting known by the general market is very vast. It would give us the opportunity to create new models if this SUV is successful.
Threats- Companies like Honda, Mazda and Toyota have a wide range of SUV that are versatile. It would be a major concern for us to compete with companies like these as they have established themselves very well.
SUV Car
Brand Name:
Equal Balance.
Why Equal Balance? -This is because our car is designed targeted for families. Balancing and stability of the car plays a big role in this.
Car Name:
FFV (Family Friendly Vehicle).
Why FFV? -Our motive is to target families and working adults. Hence, the name FFV because it is a car specially designed for families.
Tagline:
Keep your family SAFE in style.
Our product is basically a SUV car.
It is a 5 sitter and an affordable urban vehicle.
It might sound like any other ordinary SUV but it is not.
This car consist of 4 safety airbags instead of 2.
The back airbags are located right behind the seat of the driver.
This is why it is safe for not only children but also for the whole family.
Target Audience:
Working adults with family who just started out in the working field and able to afford an above-average car. The working adults will be ranging from late 20's to 40's who has a family already or in the midst of building one. The car best fit with families with 2 to 3 children.
Unique Selling Point (USP):
Our targeted audiences are small families or working adults who wanted to step out from their comfort zone and are stable enough to afford an “above average” car. Its price ranges from RM90k to RM110k. Therefore, it is considered as a mid-ranged vehicle. We also target families with small children. With that, they can travel around comfortably as the back seat consist a lot of leg space. We also included 2 extra safety airbags behind the driver seat so that children behind will have extra protection too just in case. We have a total of 4 safety airbags in FFV. Not only that, our car also has extra compartment, beside and behind the driver seats. This is to favor women and their children to have extra space in the car to locate more stuff such as water bottles, everyday necessities, food and other storage space. It is very suitable for families during the weekend or even schooling days.
Current Situation Analysis
1) A family who is buying their first car:
A newly wed with 2 young kids has been living on public transport for the past few years. The wife has been riding a bicycle every morning and afternoon to send her 2 kids to kindergarten back and forth. As for the husband, he has been using public transport for work everyday travelling from a small town to the city. The husband has been struggling a lot with low income and transportation issue that’s why he’s been struggling with choosing an affordable family car. Our FFV comes with a very affordable price and a special installment plan which any fresh graduates can consider. The husband can now travel to work with ease and assist his wife in sending the kids to kindergarten.
2) A family that is planning to change their current old car to our FFV:
A former race car driver that drives a 2 door sports car has been struggling with his family because of his car that does not have enough space for his wife and kids has to upgrade to a more desirable car for his family. He craves car with performance but an SUV has never came to his mind until the arrival of our very own FFV. Our FFV is a big SUV with high Eco boost performance for better driving pleasure and also very favorable for family with its spacious boot. So now he enjoys the performance the car provides and the convenience the car is for his family.
3) A guy who wanted a bigger car for work purpose:
Ah Chong is an ambassador for an IT company and he is required to travel outstation frequently for events and promotions for his products. He has been struggling with over budget fuel consumption and his sedan car is too small to fit his IT products with the lack of boot space. After discovering the FFV that has a very Eco friendly engine with low fuel consumption he saved up a lot of fuel. Not to mention the driving stability chassis system which gives him additional comfort for long distance drive. The extra boot space allows him to transport his product equipment with ease and safely due to the handling performance it provides.
Mission Statement:
To distribute a safe and reliable family car, providing customers with high quality products, services, and information; to present our company in an honest and trustworthy manner in all transactions.
Vision Statement:
To be the market leader and the lost cost distributor of high quality SUV vehicles in the Malaysian market. The right material, to the right place, at the right time, for each customer.
Competitor Analysis and Product Positioning
(Honda CR-V)
With the price range of RM135,982 - RM165,170, Honda Malaysia (HM) announced that its 2014 sales grew by 50% year-on-year – from 51,550 units in 2013 to 77,485 units, beating the 76k target that sounded ambitious when it was first announced.
That huge jump propelled Honda to be the top non-national passenger car brand in Malaysia for the first time ever. Taking into account pick-up trucks (which Honda doesn’t have), the HR-V brand is second only to Toyota in total non-national vehicle sales, and is fourth overall. Honda is also the biggest gainer in 2014, commanding an estimated 11.6% market share, a 3.7% bigger slice of the pie compared to 2013.
Channel of Distribution and Pricing
Being a new brand, we would want to try out with our own showrooms and exhibitions. By having our own showrooms and exhibitions, we would have to pay for more expenses which is not very ideal for the company as we have no brand reputation. But, we are willing to give it a try and test the market at the same time. We would start off with only one showroom. In the following years as we expand, then we will slowly increase the number of showrooms to conveniently serve our customers better. We will also create an online website by uploading pictures and the specs of the car online. From there, we would also have road shows advertised on the social media. Ideally we would place our road show campaigns with other events for an example: F1 race. There we will save up rental money and electricity bill and we would only have to pay a certain amount to the event organizer to have our products exhibited. Once we have a better reputation, we would have our showrooms expanding slowly as we are still a new product. We would like to introduce ‘drive-to-you’ service where consumers go to our website and tell us that they want to test drive our product, there our employees would drive up to meet our clients personally with an extra fee. Our product advantage is that we are a new brand and we can charge our consumers on a cheaper price. We can charge our customers around RM70-90k ranging from specs.
SWOT Analysis
Strength- Our objective is to design a SUV that is tough and fuel efficient. The standard SUV costs about 100k and above which would be not ideal for a fresh grad or a young family trying to adjust their financial situation. With our product, consumers get to enjoy the luxury of having an SUV that is not only cheaper but also fuel efficient. Consumers also get to enjoy the full specs of a standard SUV like good steering control and the durability of the car. A standard Honda CRV ranges around 120k-140k but our product would be definitely cheaper than standard market price. Our strength is our price and the safety design for families with small children.
Weakness- Our weakness would be being a new brand, consumers might not trust us as much. Therefore a good advertising strategy and marketing skills are very crucial in this entire launching of our product. We might not even have many products available as people might not be very interested in choosing our SUV because of our brand which is unknown to the market yet.
Opportunity- The chances of us getting known by the general market is very vast. It would give us the opportunity to create new models if this SUV is successful.
Threats- Companies like Honda, Mazda and Toyota have a wide range of SUV that are versatile. It would be a major concern for us to compete with companies like these as they have established themselves very well.
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