However, the number of people that have the power to purchase the product of the company is low because of its high quality and prices. Thus, it would be beneficial for the company to focus on decreasing the prices of its products and introducing some low-cost model. The customers in Turkey will like the products of the company and has the ability to purchase it. The automobile industry of the country is rapidly growing due to the increase in the customers. It would be beneficial for the company to target the customers who will purchase the product. In order to attract more customers, the management should focus on the fuel efficient and environmentally friendly cars. The customers will be attracted with the entire range of car models such as DB9, V8 Vantage, DBS, Rapide and V12 Vantage (Du Plessis, Strydom & Jooste, 2012). The increasing need of unique and innovative product has encouraged the company to expand its business operation in Turkey. The profitability of the company will increase and the goals can be achieved.
The SWOT analysis of the Aston Martin is provided in the following points as it enables in determining the appropriate structure of the work. This explanation of the analysis is provided below: –
Consists of strong legacy and high brand equity
Consists of strong engineering and the designing team
Innovative and using the cutting edge technologies with consisting of attractive features (Ramachandra, Chandrashekara & Shivakumar, 2010)
Lesser market penetration with a comparison to the other car manufacturers
The limited product portfolio is still emerging in the form of the economies (Appannaiah & Reddy, 2010).
Apart from these weaknesses, the high loan rates are a part of the weakness of the Aston Martin which is lagging in the market due to its weaknesses. The narrowly defined market is becoming the major weakness of the company. This is raised due to the financial boom in the Asia and the Aston Martin is not targeting the affluent in the market.
Increment of the global markets
Growth rate can be easily increased with profitability
Growth in the economy can be depicted.
New market entry can be easily made by the company (Pinnock, 2010).
Apart from these opportunities, the company has many advantages being a public company. The reduction of the debts can be undertaken by expecting the reduction of the capital and the funding can be easily made by the company for the research and the development. Therefore, the opportunity to appeal to both the female customers and the young demographic can be easily facilitated (Sheehan, 2011). The Aston Martin relies on the middle-aged enthusiasts who are identified as the main stay behind the past sales of the company.
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