The company aim to dominate the automobile market through the development of affordable and environmentally friendly vehicles.
There are over 3,000 dealers distributed to each state, which facilitates the distribution of new cars.
Product Strategy
The Chevy vehicles have distinct futures compared to others.
For instance, Chevy has more interior space since Bolt’s battery is in the form of a flat pack as opposed to the typical T-shaped block found in most electric cars.
The car is capable of accelerating to 60 miles per hour in 6.5 seconds and can ride on rough roads.
The vehicle has a touch screen of 10.2 inches installed in the cabin, which adds more comfort to the users.
4G LTE Wi-Fi, Android Auto, and Apple Car-Play are customized features in the Chevy cars.
The Chevrolet Bolt EV of 2018 has a spacious interior and zippy performance.
Pricing
Chevy uses a pricing strategy to compete with other companies, such as Tesla.
Chevrolet’s new version, which retails at $37, 495 is more economical when compared to Nissan’s Leaf, which retails at $29,000 because Bolt and Nissan’s Leaf have a range of 238 and 107 miles on a single charge, respectively.
Chevy Bolt also enables users to add new features when they wish to upgrade in future but at a comparatively low price.
Distribution Strategy
Chevrolet has ensured that every state has a certified dealer of the Bolt EV that will cater to the demands of the customers.
The dealers are educated on how to maintain a good relationship with the client and, hence, maintain customer loyalty.
Current Marketing Situation
The company deals with automobiles and related accessories.
The owners of Chevrolet are the General Motors.
Approximately 42 per cent of the total sales of the general motors is attributed to Chevy.
Various championships, such as NASCAR and the British World Touring Car Championship, are evidence of advanced functional vehicles marketed by Chevrolet.
Segmentation Targeting Positioning In The Chevrolet Marketing Strategy
Chevrolet understands the specific wants and needs of the customer through the use of geographical and demographic segmentation variables.
The company ensures that each customer’s specifications or requirements for cars are met through the use of a differentiating targeting strategy.
The primary focus of Chevy is the user’s comfort, as well as ensuring that the automotive services and products offered are of high value.
Market Description
Affordability, comfort, gas mileage, and safety are the future that distinguishes the auto brands.
Chevy Bolt competes favourably in the market since it offers electric cars at affordable prices.
Traditional consumers can purchase cars at Chevy because some vehicles retail at $35,000 or less, hence widening the Chevy Bolt market.
The Chevy Bolt addresses customer needs in the targeted segment, such as the green pioneer, the urban daily drivers, the Midsized Sedan Customer, and an environmentalist on the budget.
For example, urban daily drivers can charge and pack their cars easily since the car only needs to be charged twice a week, and the car’s length is 164 inches.
Competitive Review
Chevy is the only company that retails fully functional electric cars at an affordable price in the market.
The current leaders in the production of electric cars are General Motors and Tesla.
The market will soon have the Tesla Model 3 car, which will pose more competition to Chevy Bolt.
Chevy Bolt was the second in the sales of electric cars according to a 2017 US survey on the sales of electric cars.
Channels And Logistics Review
Chevy has prioritized the production of the Bolt EV to meet the market demand.
Every month, the company sells approximately 3,000 units.
The company is anticipating to produce two new models within 18 months.
Chevy will market 20 new models before five years elapse.
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