Marketing Plan Outline: hybrid vehicles

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-A brief description of the product/service being offered.

My selected product is hybrid vehicles of Honda Motors, one of the largest and trust automobile brands in the world.

-An analysis of the market in which the product/service will be offered:

Size and demographics of the markets.
Potential competitors (if any)

The hybrid cars will be offered in United States.

Hybrid cars are automobiles of the future. The worsening environmental pollution and rising fuel prices at $100 per barrel is already and alarming signal to car lovers all over the world that it is time to start considering vehicles on alternate fuels or hybrid vehicles. Although new hybrid car technologies are being developed on a regular basis, a lot of improvement still needs to be done to come out with a hybrid model that will take the car lovers by storm and will push more and more car owners to opt for hybrid cars.

As hybrid cars become cheaper and commercially more viable, more and more car owners will start realizing the potential benefits of hybrid cars and will replace traditional cars with hybrid ones. Manufacturers will also need to make lot of effort in terms of reducing cost, enabling after sales support and educating people to successfully run hybrid cars.

Government authorities can also promote hybrid cars by offering incentives to the industry and people for opting hybrid cars. It is via such consolidated efforts from the industry and government that hybrid cars will take a prominent position in consumer's mind. The industry will need to make concentrated efforts to overcome barriers related to technology, pricing and commercial viability in order to make hybrids popular among the masses.

J.D. Power estimate the hybrid car market will account for 3.5% of the U.S. market by the year 2010, whereas, other researchers such as ABI Research & Automotive Technology Research estimated the hybrid market penetration between 5-6% of the overall U.S. light-vehicle market.

The major competitor for Honda in the hybrid car is certainly the market leader or pioneer in the Hybrid car segment, i.e., Toyota with its best seller hybrid like Toyota Prius. Further, other car manufacturers like GM are also pursuing aggressive hybrid strategies and have launched world class hybrid cars. The competition is ...