Assessment 2 - Project Report Research Question: " How higher marketing expenses and enormous R&D budgets directly impacts on selling of Auto industry" This is an individual, written assessment, to be...

HOW HIGHER MARKETING EXPENSES AND ENORMOUS RESEARCH AND DEVELOPMENT BUDGETS DIRECTLY IMPACTS ON SELLING OF AUTO INDUSTRY
Executive summary
The automobile industry as in the cu
ent times has seen incremental growth in the sales. The escalation of Marketing expenses and growth in the budget of research and development team our view of the vital factors that have impacted the sales of auto industry. The cu
ent study aims to analyse the impact of marketing strategies and growth in the budget of research and development on the selling in auto industry. The study also aims to outline the direct impact of marketing expenses and Research and Development strategies incorporated by auto industry to retain loyal customers and build new consumers for increasing growth of the automobile enterprises. The cu
ent study will procure data from secondary sources in order to draught a research report and draw a comprehensive finding analysis based on the secondary sources obtained from academic sources for the study. The study also aims to build recommendations on the basis of finding analysis that extensively outlines the core of the results from data obtained from secondary resources.
Table of content
Introduction    4
Literature review    5
Research methodology    9
Finding and analysis    11
Conclusion    13
Recommendation    13
Limitations    14
References    14
Introduction
The automotive industry has been impacted by the globalisation and increasing levels of competitiveness. In order to maximize satisfaction level of customers and also increase growth and profit the automobile companies have adopted implementation of marketing strategies that focuses on marketing and has an entire dedicated team for research and development processes meet the evolving needs of consumers. The customer centred approach has led to explosion in the marketing and Research and Development budget which has significantly gone up in the cu
ent era. The study focuses on co
elation existing between marketing expenses and sales of automobiles and also understanding the interlinking of high research and development budget and its impact on the sale of automobile.
Topic justification/ Rationale
The cu
ent research topic aims explore the impact of high marketing expenses and research Development budget on sales auto industry. The study is relevant in the cu
ent times as marketing cost and its dynamic are link directly to levels of customer satisfaction the royalty and customer retention. The customer retention and satisfaction is highly required in the automotive industry since the industry is highly dependent on the consumer. The main objective of automotive industry is to increase Customer Portfolio and also achieving customer loyalty and retention of the existing customer in order to promote sales of the automobile. Marketing strategies suggest advertisements play an important role. The research and development team helps in incorporating necessary changes according to the evolving needs of consumers to retain existing consumers and
ing new consumers. It is essential to constantly discover and research the needs of consumers related to automotive choices and incorporate changes according to the segment the automobile industries catering to. Does the higher level of Investments in activities of marketing and Research and Development will help in increasing the growth and performance of Enterprises. It is essential to understand that performance and growth of automobile Enterprises is highly dependent on the satisfaction level of consumers and strategic marketing decisions have suitable answers to address the consumer’s interest.
Research Aim
The aim of the research is to identify the direct impact of higher marketing expenses and Research Development budgets in increasing the sale of auto industry.
Research question
· What is the impact of increased marketing budget of an auto industry on market sales?
· How high research and development budgets will boost the selling of auto industry?
Literature review
Introduction
In the cu
ent age of digital technology marketing strategies have been undergone gamut changes especially in the field of automobile industry. As suggested by Ruff (2015), marketing strategies are devices on the basis of highest priority related to efforts made by automobile dealership in the field of marketing that aims for improving conversion of consumers. The marketing strategies also aim to increase the leads in the level of volumes and also revenue increments. The marketing efforts can be proved beneficial with the research marketing vendors who can analyse and make strategic decisions regarding implementation of direct marketing strategies that will aim to increase rate of conversion of consumer and
inging in new consumers to the market. The research and development team in automobile industry plays an important role for formalizing and researching evolving needs of the consumers and also keeping check on the competitor’s unique selling features in order to incorporate them into their automobile line. As suggested by Leigh and Blakely (2016) The research and development team is the founding stone of strategic decision making team in automobile industry as they not only help in undertaking research for understanding the needs of consumers for achieving customer satisfaction level but also help in procuring feedbacks related to success and failure of the particular automobile line.
Marketing strategies to be implemented for the better outcome
The marketing strategies play an important role in converting the rate of consumers and also affecting the sales and growth of the automobile Enterprises. The marketing strategies that can be implemented for better outcomes include-
· Inbound marketing which is essentially designed and developed for dealers website or stores. These marketing strategies are aimed at attracting consumer attention on social websites and digital media platforms which includes Google advertisements blogs on auto related industry social media platforms for people looking for information. The digital marketing and advertising has penetrated deep into the industrial marketing strategies and play an important role in developing awareness among consumers regarding existing and new products launched by the company (Weinstein (2016).
· Outbound marketing is focused on providing important information to potential customers who includes traditional form of advertisements in newspapers, radio and television. The marketing strategies involving outbound marketing are also essential for automobile industry especially in those areas where digital marketing is still to stretch its span (Bohnsack, Pinksee & Kolk, 2014).
Window decals have been one of the prominent marketing strategies that have been employed by automotive industry for increasing their sales and reaching out to customers multiple time in order to general awareness for the new product (Kale, 2017).
· Preloaded service discounts and gift cards.
The marketing strategies of providing preloaded service discounts and gift cards help in drawing a huge number of consumers towards the automobile industry. It is touted as one of the effective marketing strategies that produce better outcomes in the automobile industry (Sekaran & Bougie, 2016).
· Loyalty rewards and programs
The marketing strategies can be then also involved loyalty programs on return visits which can help in increasing the conversion ratio of consumers. These loyalty rewards and programs can consist of number of freebies that can be offered by automobile dealership war
inging in new consumers and also leading to increase in the sales of automobile (Pavlinek, 2015).
· Onsite car care clinics
The...