Submit Proposal for product or service, in which you will develop and present a marketing plan. Describe the product or service you plan on marketing, and suggest ways you plan on building customer value and relationships.
Professional Negotiation Services
The service in which I will develop will be professional negotiation services. The reason that I chose this is that I feel there is an unmet need in the car buying process for those people who don't have proper negotiation skills, experience, or simply don't realize that they can save money of the car buying process. The process would work like this for the consumer. The consumer would contact our agency, an agent will be assigned, the agent will gather research, and finally the agent would meet the buyer at the stated dealership in order to negotiate on behalf of the consumer. The services would be offered via specially trained agents that will be paid on a per service basis. The training will be conducted via Skype or Go to Meeting and focus on three areas that they can negotiate for a customer including the purchase price of the car, the trade in value of a car (if one exists), and the APR that is extended to the customer.
The first part of training would focus on data collection using sites such as Trucar and be contacting several dealerships in order to obtain price quotes. In order to get a higher trade in value the agents will be giving training on estimated value of cars, and will obtain trade in values through the use if Kelly Blue Book and Trucar. Finally, the agents will be trained in APR and financing options so they can secure the best possible financing solation for the consumer. An APR is ofen given to the dealership at a buy rate and sell rate. The buy rate is higher and resuts in the dealership making money by extending a higher APR, however the sell rate is lower and offers less commission to the dealership, so therefore the agents will always seek the sell rate APR.
By having agents trained in all three areas of the car buying process that require or can have negotiation we will be able to commit to our customers that we can provide savings of at least $1500 of the purchase price of the car no matter where they live. Our agents will work remotely from their homes and be required to offer services within a 25 mile radius. Ongoing training will always be provided on new products coming out, best times to buy a car, and what cars hold the most value. With ongoing training relating to the car industry our agents will become a wealth or knowledge and savings for our clients.
In order to build customer value and relationships we will offer a 300% money back guarantee, which will indicate that we can save at least $1,500 or we will pay the consumer $1,500 if we cant. The price for the service would be a flat $500 fee, where $300 goes to the company and $200 goes to the agent. In order to promote out product we will use television, radio, and print advertisements focusing on actual consumer testimony on how our services saved them money and made the car buying process easy. In order to build customer loyalty we will offer $100 off future services if used within 4 years, and also offer a $50 referral program. Anytime a new customer is referred to our organization they will get $50 off their service and a check will be mailed to the original source of the referral.
Through the use of our 300% money back guarantee, actual customer testimony in our advertisements, and the referral program relationships and customer loyalty can be established. In addition, once a consumer tries our service they will continue to come back due to a positive experience and the amount of money the organization was able to save them.
References
Suttle, R. (n.d.). New Product Pricing Strategy. Retrieved from www.smallbusiness.chron.com: https://smallbusiness.chron.com/new-product-pricing-strategy-2782.html
Wasserman, E. (n.d.). How to Price Your Products. Retrieved from www.inc.com: https://www.inc.com/guides/price-your-products.html
www.marketing91.com. (n.d.). Marketing mix of Nescafe. Retrieved from www.marketing91.com: https://www.marketing91.com/marketing-mix-nescafe/
