The Automotive Industry
Julianna Egner, Mac Bishop, John Nitti, Logan White
April 11, 2011AEM 4550 – Economics of
AdvertisingJura Liaukonyte
Agenda Industry Analysis Advertising Analysis
o For Dealershipso For Brands
Advertising Strategies Recalls & Brand Reputation Recent Advertising Innovations Investment & Advertising
Recommendations
Why the Automotive Industry? Automobile industry a staple of the U.S.
economy Americans have developed a deeply
patriotic connection to this auto manufacturing tradition
Over $100 billion in revenue in 2010 Industry expected to grow Billions of $ spent on advertising every
year Health of the industry impacts
nationwide advertising
Industry Analysis
Industry Definition Sub-divided Industry:
1. Car and Automobile Manufacturing - Companies that manufacture car and automobile chassis
2. Light Truck and Sport Utility Vehicle Mfg. – Companies that manufacture light trucks and utility vehicles, such as vans, pick up trucks, and sport-utility vehicles
Produce vehicles in assembly plants
Major Products and Services Compact and subcompact sedans Luxury Cars Mid-size and full-size sedans Sports cars
Major Products and Services
CUVs (crossover vehicle) Large Pickup Trucks Small Pickup Trucks Large Vans Small Vans SUVs
Current Industry Condition Recession brings trouble for the big
three: Ford, Chrysler, GMo Bankruptcyo Restructuringo Large losses or dismal profits
Reasonso Reliance on SUVs and larger cars
Signs of Relief In 2011, industry profit margins will be
relatively healthy at 2.0% Car industry revenue to grow at an
estimated rate of 4.2% annually to $102.3 billion by 2016
o Shifting consumer preferenceso General recovery in demand
Improving consumer sentiment Credit availability is recovering
Why People Buy? Past: All about price Current: Price, running cost,
environmental effects Motor vehicle affordability on the rise Green revolution
o Consumers will continue to demand environmentally friendly cars
o Price of gas will rise in 2011
Distribution Model
Light Truck and SUV >
< Car & Automobile
International Influence Imports represent 51.0% of domestic
demand for automobiles Exports generate 19.1% of industry
revenue
Operating Conditions Technology
o Design, Innovation (hybrid, plug-in hybrid electric vehicles ) Engineering, and Production method
o Most auto manufactures are working on a hybrid or plug-in electric
Regulation and Policyo The Government compiles complaints from
consumers and will prod a manufacturer to recall a vehicle if warranted.
o Obama administration – efficiency mandate o Cars - Average 39 mpgo Light trucks - Average 30 mpg
Competitive Landscape 174 total companies as of 2007 HHI for top 50 firms=1448.8 Car CR4 = 55.6
Light Truck/SUV CR4 = 73.5
Industry Structure Market Concentration: Medium Competition in Industry: Medium Barriers to Entry: High Competitive differentiation:
o Priceo Qualityo Efficiencyo Supply-chain integrationo Industrial relationso Types of cars manufacturedo Product innovation
Industry Data - Cars
Industry Data – Light Truck & SUV
Global Competition Finding an efficient
business model to operate in this globalized industry environment is key.
Example: One Ford: streamlined design
and manufacturing platform across Ford’s global markets
GM’s joint venture with China’s Shanghai Automotive Industry Corporation
Market Concentration
Toyota17%
GM15%
Ford12%
Honda12%
Hyundai10%
Others34%
Market Share
Competitor Highlights Toyota:
o 2009 – 2010: U.S. market share fell from 19.5% to 16.8%
o Panicked and angry car buyers opted to purchase cars from other companies
o Toyota Prius first mass-produced hybrid gasoline-electric car – major success for Toyota.
o Toyota Motors is world's largest automotive manufacturer (overtaking GM in 2008)
GMo 2006 – 2011: U.S car sales fell at a troubling
10.3% annualized rateo Total U.S. car sales fell 4.3% annually
Competitor Highlights Ford
o CEO restructuring the company’s business practices since 2006 o Put Ford in a better position when the recession hit.
o “One Ford” initiative has helped Ford share designs and other efforts across global divisions
Hondao Notable for its unusually high spending on research-and-
development (R&D) o Equivalent to about 5% of revenue
o Competitive in hybrid market – Honda Insighto Did not achieve the commercial success of the rival Toyota Prius.
Hyundaio Second largest Asian automakero Sales rose 7.2% annually since 2006 while the U.S. market
decreased 4.3% annuallyo Have kept prices low while radically improving vehicle
design
Brand EquityBrand Values from Interbrand’s Best Global Brands 2010
Rank Prev. Rank
Brand
Brand Value ($m)
Change Revenue
($B)
11 8 26,192 -16% 204.44
12 12 25,179 6% 69.00
15 15 23,219 3% 80.14
20 18 18,506 4% 92.55
50 49 7,195 3% 128.95
53 55 6,892 6% 168.13
63 65 5,461 9% 46.97
65 69 5,033 9% 78.46
72 74 4,404 4% 80.75
91 88 3,562 1% 2.15
Advertising-to-Sales2010: Revenues = $76,664 for cars, $94766
for light trucks = $171.43 billion $13 billion spent on advertising
= 7.6 Ad-to-sales ratioo Medium A-S-Ro Highest: Liquor (15.6%)
Organization Integrated supply chain
o Designo Engineero Manufacture many of the components
and partso Marketo Sell
Supply network: steel, raw materials, other components
Advertising Analysis
Overview Many different advertising strategies in
their ad campaignso Informativeo Combativeo Persuasive o Celebrity Endorsemento Emotional Appeal
$13 billion spent on advertising in 2010 Advertising spending is expected to
persist at 2.2% of revenue in 2011
Auto Industry Advertising 2 layers to advertising in the auto
industry1. Advertising by dealerships2. Advertising by brands Dealerships Brands
Local Nationwide
InformativeHigh Quality
Lower Quality
Persuasive
Combative
Establish Personalrelationship
Dealership Advertising Dealership Advertising
o Primarily informative in natureo Demand is more price elastico Ads are more focused on price than car
attributeso Ads are almost always local and usually
feature the boss of the dealership— “personal connection”
o Ads are lower in quality and much less expensive to produce
o Often loud, repetitive, and low qualityo Notable slogan: “No Hassle, No Razzle
Dazzle” from a local Ithaca dealership
Dealership Ads http://
www.youtube.com/watch?v=A82AmZ3Glmk
Dealership Advertising Trends Dealership advertisements reflect
consumer preferences in local area Consumer preferences influenced
o Climateo Incomeo Reason for purchase (car use)o Car culture of city
Data on dealership advertising 2008-2010
o Sub-sample of different markets nationwideo Associations between brands and cities, etc.
Dealership Advertising by City
Dealership City
Top Advertised
Brand
Total Amount Spent ($)
Atlanta, GA Ford F-Series 1,277,509Dallas, TX Ford F-Series 9,693,999
Denver, CO Ford F-Series 2,727,011Houston, TX Ford F-Series 7,223,330
Los Angeles, CA BMW 3-Series 8,570,245
New York, NY BMW 3-Series 6,345,458
Top advertised brands by market
Normalized Dealership Adv.Highest Total Dealership Spending by City
City Population (mil) Adv. Spending Adv. Per Capita
Los Angeles 9.9 $102,669, 540 $10.37
New York 8.4 $44,609,248 $5.31
Houston 2.3 $39,159,786 $17.03
Dallas 1.3 $38,815,813 $29.86
San Francisco .9 $33,640,608 $37.38
Philadelphia 1.6 $18,582,866 $11.61
Phoenix 1.6 $16,601,331 $10.38
Ford F-SeriesTotal dealership advertising spending for the F-Series by city
ALBUQUER
QUE
BALTIM
ORE
BOSTON
CHAMPAIG
N
CHICAGO
COLORADO S
PRGS
DALLAS
DENVER
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NO
HONOLULU
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CITY
LEXIN
GTON
LOUIS
VILLE
MINNEA
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PADUCAH
PITT
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SEATT
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N
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HITA
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
9000000
10000000
BMW 3-SeriesTotal dealership advertising spending for the 3-Series by city
ATLANTA
BALTIM
ORE
BIRMIN
GHAM
CHARLOTT
E
CINCIN
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COLUMBUS,
OH
DAYTON
FRES
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ITY
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CITY
SAN FR
ANCISCO
SPOKANE
WACO
0
1000000
2000000
3000000
4000000
5000000
6000000
7000000
8000000
9000000
Advertising Spending by City Top Spender: Los Angeles
o Total spent by dealerships 2008-2010 = $102,669,540
Why?o 17.8 million people in metropolitan areao Extremely strong car culture – revolutionary
highway system, mediocre mass transito Cars crucial to livelihood in the city
o Highest income disparity but extreme wealth in the area
Brand Advertising Brand Advertising
o More persuasive in natureo Demand is more price inelastico Ads are more focused on car attributes
than priceo Ads are typically national or regional,
covering a much larger area than dealership ads
o Ads are higher in quality and much more expensive to produce and air
Total Ad Spending
0% 0%6% 18%
1%
18%9%12%
6%0%
11%
0%0%0%
12%5%
Total Ad Spending by Parent Company
BMW AgChrysler Group LlcDaimler AgFord Motor CoFuji Heavy Industries LtdGeneral Motors CorpHonda Motor Co LtdHyundai CorpMazda Motor CorpMITSUBISHI MOTORS CORPNissan Motor Co LtdPorsche AGSpyker Cars NVSUZUKI MOTOR CO LTDToyota Motor CorpVolkswagen Ag
Total Ad Spending Auto industry “Big Three” top spenders
on advertising:1. Ford – 18%2. GM – 18%3. Chrysler – 12%
Biggest advertising threats:1. Toyota – 12%2. Nissan – 11%3. Honda – 9%
Average Ad Spending by BrandVolkswagen highest spender = $167,510 per ad
BMW AgChrysler Group Llc
Daimler AgFord Motor Co
Fuji Heavy Industries LtdGeneral Motors CorpHonda Motor Co Ltd
Hyundai CorpMazda Motor Corp
MITSUBISHI MOTORS CORPNissan Motor Co Ltd
Porsche AGSUZUKI MOTOR CO LTD
Toyota Motor CorpVolkswagen Ag
$0
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$40,
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$60,
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$80,
000
$100
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$120
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$140
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$180
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Average Ad Spending by Parent Brand
Average Ad Spending by Brand
Highest spenders per ad:1. Volkswagen2. Ford3. Nissan4. Honda5. Hyundai
Implicationso Primarily foreign automakerso Trying to win larger part of the market
o Buying more expensive ad spots, large audiences
o Foreign brands higher reputations recently
Brand Ad Spending Trends Ford Fusion – Gas powered
or Hybrid Emphasis on Fuel Efficiency “We Speak Value. We Speak
MPG”
Ford FiestaFord FocusFord FusionFord MustangFord TaurusLincoln MKSLincoln MKZVolvo C70Volvo S80
Buick EnclaveBuick LacrosseBuick LucerneCadillac CTSChevrolet AveoChevrolet CamaroChevrolet CobaltChevrolet EquinoxChevrolet HHRChevrolet ImpalaChevrolet MalibuPontiac G5Pontiac G6Pontiac G8Pontiac Grand AmPontiac SolsticePontiac VibeSaturn AstraSaturn Aura
GM – Chevrolet Malibu Gas powered, but fuel
efficient – 33 MPG “Fuel economy that a
comparable Toyota Camry can’t match”
Brand Ad Spending Trends
Lexus ESLexus HSLexus ISLexus LSScion TCScion xBToyota CamryToyota CorollaToyota PriusToyota Yaris
AcuraAcura RLAcura TLAcura TSXHonda AccordHonda CivicHonda FitHonda Insight
Toyota Prius – Put hybrid vehicles on the map
“Harmony between man, nature and machine”
Toyota Corolla – Comparable to the Honda Accord
Honda Accord – Honda’s bestseller
Honda Insight – Honda’s hybrid
Lower starting price than Prius ($18,200 v. $23,050)
Brand Ad Spending Trends
SUN MON TUE WED THU FRI SAT$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000$163,743
$111,557$102,690 $101,367
$110,035
$57,404
$80,707
Average Cost /Ad by Day of Week
Brand Ad Spending Trends
Aftern
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Daytim
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Aftern
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Daytim
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Early
Frin
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Early
Frin
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Early
Mor
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Early
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Morni
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s$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Average Spent/Ad by Time of Day
*Sunday Early Fringe = 6pm*Prime Access 1 = 7pm (post evening news)*Late news = 11pm
Implications Sunday highest ad spending by brands –
Why?o Sporting eventso Awards showso Largest audience – home with family, etc.
Time of day with highest ad spending:1. Sunday Fringe 2 – ends of sporting events,
etc.2. Prime Access 1 – Post evening news,
entertainment television, game shows3. Late News – Post sitcoms, dramas
Advertising by Program Type
AWARD/P
AGEANT/
PARADE/
CELEB
RATION
COLLEG
E BASK
ETBALL
- GAME
COLLEG
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ETBALL
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ST-G
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ACING
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PROFE
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ALL -
PRE-
GAME
SLIC
E-OF-
LIFE
$0
$100,000
$200,000
$300,000
$400,000
$500,000
Average Advertising Cost/Program Type
Advertising by Program Type Program type with highest average cost:
1. Professional Football – Game2. Professional Football – Post-Game3. Award/Pageant/Parade/Celebration
Primarily air on Sundays Fits with data on time of day spending
o Highest ad spending Sunday Fringe 2 o Sundays around 6pmo Coincides with end of games and beginning
of post-games
Where Brands Advertise BMW – 79% advertising during Golf Mercedes – 15% advertising during Golf
14% during News Forum/Interview shows
GM – 45% advertising during college and professional sporting events
Toyota – 21% advertising during drama shows 15% during Professional Football Games
Conclusion: Luxury brands advertise to target educated consumers of higher socio-economic status
Advertising Strategies
Brand Informative Advertising Conveys simple search attributes to
consumers Consumers look for product specs and
special features when making purchasing decisions
Automotive Industry:o Fuel efficiencyo Technical features – engine size, horsepower,
etc.o Price pointo Available financing
Brand Informative Advertising Highlighted attributes differ between
product categorieso Luxuryo Economyo Truck/SUVo Hybridso Sporto Minivan
Informative: Luxury Target new features usually focusing on
technological and performance upgrades Primarily in TV commercials
Mercedes: http://www.youtube.com/watch?v=Ho4PI9zaZy4&feature=related
Informative: Economy Economy class brands’ informative
advertising highlights vehicleo Fuel efficiency (MPG) o Price o Performanceo Warranties
Informative: Economy
Informative: SUVs & Trucks SUV & Truck advertising focuses on
qualities such as:o Fuel efficiency (MPG) o Towing Capacityo Usability features
Informative: Hybrids Informative Advertisements in the
hybrid segment focus on o New hybrid technology and how it works, o Ecological benefits of hybridso Fuel efficiency (MPG)
Informative: Minivan Similar to economy, but also focuses on
o Kid friendly attributeso Ease of useo Storage capabilities o Long distance travel capabilities
Persuasive Advertising Goal: to portray your respective brand’s
vehicles as different from those of your competitors so as to alter consumers’ tastes and create a perceived product difference o Emotional Appealso Image Changing
Perceived product difference allows brand to charge more for their productso Decreases elasticity of demand relative to
price
Emotional Appeals Social (Status) Fear Humor Lifestyle Endorsement
Social Appeals Ads will target the idea of “fitting-in”
o Toyota - recent campaign with the Highlander
http://www.youtube.com/watch?v=80pNUxIczig
Fear Appeals Within the automotive industry, most of
the fear appeals mention safety attributeso Show the harsh realities of accidents and
their possible effectso Highlight brand’s unique safety features
Fear Appeals Acura:
o http://www.youtube.com/watch?v=6p9ZHG8Fac0
Mercedes:o http://www.youtube.com/watch?v=_jqnR2
pucm4&feature=related
Humor Appeals Humor is an element that is used in
around 30% of advertisements across industries
Benefits:o Excellent tool to catch the viewer’s attention o Can help in achieving better recall –
potential to increase sales In auto industry, sometimes parody the
use of sex appeals
Humor Appeals Volkswagen:
http://www.youtube.com/watch?v=GTqM1LLxMSg
Lifestyle Appeals Many brands strive to target the lifestyle
of their customers or the lifestyles their customers would like to haveo Sporty/outdoorsy o Family orientedo High status
Advertisements highlight activities associated with target lifestyle
Lifestyle Appeals
BMW: http://www.youtube.com/watch?v=Jt66-2ix43k
Endorsements Celebrities and well known personalities
often endorse certain products Endorsements can help drive sales Potential to increase advertisement
recall if celebrity is appealing to the consumer
Endorsements http://
www.spike.com/video-clips/bnhcqi/cadillac-tiki-barber
http://www.youtube.com/watch?v=CE2lIBQn2KM
Image Changing Automakers trying to change their brand
image in response to rising fuel prices and to appeal to a more environmentally-conscious nation.
o SUVs now made as hybrids—they are trying to change image from gas guzzling to eco-friendly haulers
Example: Mustang & Mileage
Mustang’s recent commercial—who would’ve thought 5 years ago that advertising for a model like Mustang would ever focus on MPGs?
Bloggers: “Who the hell buys a Mustang for the mileage?”
http://www.youtube.com/watch?v=ZAX550biM7c
Honda Odyssey & Dads Honda Odyssey
o Reinventing the image of the minivan. Soccer-Mom Cool Dad
Combative Advertising Method used in mature markets Goal: To shift consumers preferences
towards the advertising firmo Redistribution of consumers among brandso No expansion of the market
Differs by segment in the auto industryo Luxuryo Economyo Sports Carso Hybrids
Combative: Luxury
Advertising focused in major cities, especially Los Angeles and New York (higher income areas)
Notable Battle: Audi vs. BMWo Perhaps the most clearly visible example of
combative advertising in the entire industryo Audi puts up a billboard in the LA metro
area, BMW then responds with another right next to it
Combative: Economy Nationwide Notable Battle: Toyota Camry vs. Honda
Accord New Battle: Kia Optima vs. Toyota Camry
o Camry has been the “go-to” economy vehicle in America, often first in consumers’ minds
o Kia trying to get into the game with the Optima
o Competitive advantage: Kia focuses ono Lower priceo Features the Camry doesn’t have (aerodynamic
styling and Sirius satellite radio)
Kia Optima http://www.youtube.com/watch?v=wc9A
j7RTUlY
Combative: Sports Cars Notable Battle: Subaru vs. Audi/BMW
o Audi and BMW more prestige and better reputation for manufacturing sleek and fancy-looking sports cars
o Subaru chosen to focus on performance, specifically engine capability, as its competitive advantage
Combative: Hybrid Notable Battle: Lexus vs. Infiniti
o Lexus - originally the main player in luxury hybrids
o Infiniti now getting into the gameo Advertise how they are passing other
hybridso Producing unassuming vehicles that exceed
consumer expectations— “not what you think”
o Advertised as hybrid with performance
Infiniti Hybrid http
://www.youtube.com/watch?v=pzWyd10icS4&feature=relmfu
Mixed-Method Advertising Combining elements from various
advertising techniques and strategies Eminem for Chrysler
o http://www.youtube.com/watch?v=SKL254Y_jtc&bid=5079147&adid=233347236&pid=57249858&KWNM=super+bowl+commercial&KWID=150763308&channel=PS
Audi “Progress is Beautiful” campaigno http://www.youtube.com/watch?v=LQ6R7
c3cnEE
Recalls & Brand Reputation
Product Recalls & Reputation
Recall: when a manufacturer notifies all owners of a specific vehicle of a condition or defect that could affect safety or safe operation. Impact brands’ quality reputation –
reputation based on the quality of the product provided by the brand
o Quality reputation suffers the most from product recalls
Benefits of a Good Reputation
Reputation used as a solution to uncertainty for consumers
Reputation a signal of quality Benefits to brands:
o Ability to charge higher prices (inelastic)o Higher growth and saleso Higher status in the minds of consumerso Protection against new entrants to the
market Reputation of a brand creates
expectations for its products
Liability of a Good Reputation
Rhee and Haunschild (2003) Explored relationship between brand
reputation and the impact of recalls on:o Market shareo Profitso Consumer perceptions/attitudes
Studied recalls between 1975 and 1999o Of the 46 automakers sampled, 1,853 recall
eventso Average of 2.26 recalls per automaker per
year
Liability of a Good Reputation
Severe recalls tend to decrease brand’s market share in following month
Non-severe recalls result in no damage to an automaker’s market share
o Why? Small recalls can be perceived as the automaker taking initiative to fix a problem
High reputation automakers more likely to be damaged by recalls
o Why? 1. Consumers greater expectations for these brands 2. Media focuses on recalls of reputation
firms
Toyota Recall 2009-2010
Problem: ‘sudden unintended acceleration’ Claimed ill-fitting floor mats caused pedals
to stick True cause of sudden unintended accel.
faulty accelerator pedals
Recall: 22.4 million automobile owners received recall notices in 12 month period ending Summer 2010
o 8.54 million for faulty pedals and floor mats
Recalls and Advertising Combat recalls with:
Incentives Toyota offered an
average of $2,256 in incentives
Competitors also offer incentiveso GM offered up to
$1000 if traded in a Toyota
Advertising Apologetic ads
o Superbowl 2010 Stressed brands:
o Commitment to safety
o Importance of customer satisfaction
Advertising Response
<< “As you may have heard, in rare cases, sticking accelerator pedals have occurred in some of our vehicles. We believe we are close to announcing an effective remedy. And we’ve temporarily halted production at some of our N. American plants to focus on the vehicles we’ve recalled. Why? Because it’s the right thing to do for our customers.”
Toyota Recall 2009-2010Toyota Pricing Data (April 2008-April 2010) No apparent break in the relative price of
Toyota cars Recalled Toyotas lost 1% of their price
advantage over unrecalled Toyotas Never larger than 2% change in price
o Never outside the margin of error
Conclusion: If recalls matter, small, short lived effect
o Appears directly after initial media coverage of the recall event
Ford & Bridgestone/Firestone Summer 2000: Tire tread separation on
Bridgestone/Firestone tireso Number one tire for Ford Explorerso Recalled 6.5 million tires August 9, 2000
Prime example of short lived impact of recall
o Survey of consumers attitudes toward Ford on August 16, 17
o 50% polled said “less likely” to buy vehicle with tires
o 25% SUV intenders who shun Explorer blame recall
Impact of Apologetic Ads Apologetic Ads – newspaper advertising
campaigno Ford President stating “Our goal is your safety
and trust” Focus Groups August 12 & 13 to measure
effectiveness of recall ad campaigno 34% participants said impression of Ford
improvedo 5% said impression of Ford worsenedo 25% said more likely to consider a Ford next
time they buy a vehicle based on how the company handled the situation
Recent Advertising Innovations
Online Advertising Joining trend towards online advertising Now utilize all main forms of online
advertisingo Banner adso Search Engine Advertising (keywords)o Rich media – full length car ads preface
videos viewed on Youtube and Huluo Social Media – Facebook and Twitter
Social Media – Facebook Facebook creates online community for
lovers of a brand Automakers utilize Facebook to engage
consumerso Easy exchange of information between the
two partieso Dialogue that was not possible beforeo Easy word of mouth marketingo Encourage user generated content and
interaction with the brand’s offerings
Example: Toyota USA – Facebook voters determine which 100 do-gooders win Toyotas
Social Media - Facebook Corporate initiative at Ford
o CEO stated: “Social media is the future” Ford Explorer launch
o Used Facebook as integral part of the launch
o Real-time Facebook reveal with New York City launch event
Social Media – Twitter Twitter can keep followers updated
around the clock on brand news
Recommendations
Future Advertising Strategies Crucial to create a concrete identity of
brand through advertising Move towards strengthening core
productso Continuing emphasis on fuel efficiency
Concrete identity that leaves old players of auto segment in dust
o Brand community like Saturno Advertising with many appeals like Audi
Creation of strong brand community makes even harder for consumers to leave
Future Advertising Strategies Move towards ads with more emotional
appeals – ads that leave the greatest impact
Mixed method advertisingo Humor appealso Social & Lifestyle appealso Image changing – new luxury, etc.o Highlighting innovation
Social media – better connection with consumers, greater reach & cheaper!
Advertising Investments Advertising goal – reach large,
interested audience with least expenditure audience
o Earn highest return on investment Advertise more on college sports, less
on professional sports o Similar audienceo Cheaper placementso Also on Sunday, most popular advertising
day
Advertising Investments Family oriented cars Children’s/Family
entertainment, daytime o Target momso Even target kids – see cool minivan, tell
parents about Luxury hybrids increase advertising
across the board to competeo Prestige + Eco-friendly, previously unavailable
Move advertising $ to similar programming that is less expensive
o Professional Football post-game pre-gameo Cheaper, but same target audience
Questions?