Question

Carmaker kia has used its 10-year/100,000 mile warranty program to improve consumer perceptions of the reliability of its vehicles. this would be considered a __________ strategy.

Answer 1

Carmaker Kia has used its 10-year/100.000 mile warranty program to improve consumer perceptions of the reliability of its vehicles, they are clearly using positioning marketing strategy, they are trying to position their vehicles giving a benefit others wouldn´t give, such as a long warranty, and at the same time offer a competitive price so clients would need to think and balance, price, benefits and quality. 

Answer 2

Carmaker Kia has used its 10-year/100,000 mile warranty program to improve consumer perceptions of the reliability of its vehicles. This would be considered a product repositioning strategy.

Further Explanation:

Product repositioning strategy:

Market strategy is a type of strategy in which the company tries to make the product available to the customer by giving them a special discount and offer good quality products. Product repositioning is a type of marketing technique in which the company repositions the existing product by making certain changes in the products. The changes can be high-quality componentsused,the efficient product is made and advanced technology.  

In this situation, the carmaker Kia makes a car with a 10-year useful life. It attracts the customer and changes the viewpoint of customers. Now the customer relies on the car as it provides a life of 10 years which is greater than the normal useful life of the other car.  

The company opts for this type of strategy in case of product is existing and the quality of the product is improved which attracts the customer.      

Marketing Mix:

It refers to the tools of marketing that are used the company to achieve marketing objectives in its target market. The marketing mix consists of four P; they are namely:

• Product: It refers to anything capable of satisfying consumers' wants or needs. It can be intangible like services, experiences, and ideas or tangible like goods. It includes branding, packaging and labelling, product assortment (product lines, product mix, product range) and services.
• Place: It refers to how easily and conveniently, the consumer can access the product.It includes warehousing, transport, and logistics, channel member, market coverage and location decision
• Price: It refers to the amount a consumer is willing to pay for the product. It includes price strategy, price-setting, allowances, price tactics, and discounts  
• Promotion: It refers to the communication channel used by the company to endorse its product and services. It includes message strategy promotional mix and channel strategy.

Learn more:

1. Learn more about marketing mix

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2. Learn more about a competitive market

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3.Learn more about market intermediary

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Answer details:

Grade: Middle School

Subject: Marketing

Chapter: Product repositioning  

Keywords:carmaker, Kia, used, 10-year/100,000 mile, warranty, product repositioning, improve, consumer preceptions, reliable, vehicles, marketing strategy, marketing mix, price, place, promotion.