Demonstrate comprehension of core marketing concepts.

Apply knowledge of key marketing theoretical frameworks to actual business situations. Demonstrate business/market research, analysis, and presentation skills. This activity focuses on Karma Automotive. "Karma Automotive, founded in 2014, is a southern California based producer of luxury electric vehicles. Headquartered in Irvine, California with a production facility located in Moreno Valley, Karma sells vehicles via its dealer network in North America, Europe, South America and the Middle East." (Source: Karma Automotive) Related URLs:

1. Karma Automotive

https://www.karmaautomotive.com/karmab2c/en/

2. EV Sales Data-I - International Energy Agency (IEA)

https://www.iea.org/data-and-statistics/charts/global-electric-car-sales-by-key-markets-2015-2020

3. EV Sales Data -II

https://www.ev-volumes.com/

4. Green Car Reports Article

https://www.greencarreports.com/news/1133143_us-ev-sales-have-been-record-breaking-so-far-in-2021-despite-supply-chain-issues

5. Car and Driver Article on Best Selling EVs https://www.caranddriver.com/features/g36278968/best-selling-evs-of-2021/

In addition to the above URLs, you must conduct additional research to develop a deeper understanding of the trends in the electric vehicle industry. Use additional research to support your answers for each of the questions listed below. There are plenty of free sources on the web and in the university library, therefore, please don't pay for any data/information. If a site asks for subscription or pay-per-read, please use an alternative source. (support your answer with reference )

Q.2. (a) Which of the following levels of segmentation (see Figure 2) is Karma Automotive currently employing? Use research to justify your answer. (support your answer with reference )

Figure 2:

Levels of Segmentation :

Full Market Coverage - serving all segments with all the products they may need (support your answer with reference )

Mass Marketing - selling one product to all segments (support your answer with reference)

Single-Segment Specialization - focus on niche market (support your answer with reference )

Multiple Segment Specialization - akin to differentiated marketing (support your answer with reference)

Individual Marketing - micro or one-to one marketing (support your answer with reference)

Q2.(b) What recommendations would you make to the company going forward with regard to the levels of segmentation (in Figure 2.)? Explain your answer and include any related risks/downsides associated with the recommendation. (support your answer with reference )

Figure 2

Levels of Segmentation :

Full Market Coverage - serving all segments with all the products they may need (support your answer with reference)

Mass Marketing - selling one product to all segments (support your answer with reference)

Single-Segment Specialization - focus on niche market (support your answer with reference)

Multiple Segment Specialization - akin to differentiated marketing (support your answer with reference)

Individual Marketing - micro or one-to one marketing (support your answer with reference)

Q.3. Identify and explain in detail the current product life cycle stage for electric vehicles (overall and not just luxury electric vehicles). Use research/data to support or justify your answer.

(support your answer with reference )

In developing your answer, you must discuss what is happening to product, pricing, promotion, and place/distribution (at the industry level) in the stage you identified. For instance, in the introduction stage, there are not many variations of the product. Similarly, you must discuss the state of competition and consumer adoption trends that are likely to be associated with the PLC stage you identified. Hint: Review the PLC chart in Chapter 9 to better understand the PLC framework. Answer Format: Use a heading for the PLC stage followed by a brief explanation. Then use sub-headings followed by explanation/passage for each of the 4Ps plus competition and adoption elements.