Audi Essay

Growth strategies

Market development:

Audi is continuously thinking about new plans to extend their business. Audi produced a watch, the Audi watch. It attracts a new target-group but also keeps their current customers close. An Audi customer is more likely to buy a Audi watch because it fits their car. This is an example of a current product in the new market.

Market development:

The Audi R8 is also an example for market development. The price of an Audi R8 is a few times higher than a 'normal' car from Audi. They are targeting to people who want a fast car for a high price. This example shows that Audi uses their current product in a new market. In this case, the new market is the new target group; people with a higher income. In this case, the product is the Audi R8. Made for people with a higher income that wants a unique, fast, expensive car.

Survival strategies

Influence buyer behavior:

Audi is influencing the buyer behavior by advertising on TV and via billboards. The TV commercials from Audi are the biggest way to influence buyers. They show what features the car has, most of the time they use fast commercials with a lot of action and music.

Brand extension

Audi is extending their brand by making Audi watches. Audi drivers are more likely to buy an Audi watch because it fits their car. Almost everyone knows and trusts Audi, so this is a great way of extending their market. Audi is a more expensive car compared to other brands, this is why their watches have a slightly higher price than other watches. It fits their whole brand image.