Identify strategic issues: Based on your marketing audit below of CNH INUSTRIAL , identify key strategic issues or challenges faced by the company. These could include issues related to market positioning, target audience, product/service offerings, pricing, distribution channels, promotional activities, competitive landscape, etc.

 

Audit of CNH Industrial's marketing:

Marketing Environment Analysis: a. Internal Factors:

Strengths include a solid distribution network, a wide range of products, technological know-how, a strong global presence, and reputable brands like Case IH, New Holland, and Iveco.

Limitations in market share in some countries, reliance on certain markets, and a slow uptake of digital marketing are weaknesses.

1. Outside Influences:

Opportunities include rising consumer demand for environmentally friendly and sustainable products, rising demand in emerging markets for agriculture and construction equipment, technology improvements (such as automation and precision farming), and prospective joint ventures for market expansion.
Threats include fierce competition from national and international competitors, shifts in the economy that affect industry demand, strict pollution and safety requirements, and potential interruptions in the global supply chain.

Step 2:

Product: a. When evaluating the marketing mix.

To meet a variety of customer needs, CNH Industrial offers a broad range of products in the construction, transportation, and agriculture industries.

To keep up with changing consumer tastes and legal requirements, the organization should concentrate on creating and promoting sustainable and energy-efficient solutions.

To boost product innovation, quality, and distinction, more money should be put into research and development.

1. Cost:

Based on a market analysis and considering variables including production costs, competition, and customer value perception, CNH Industrial should implement a competitive pricing plan.

Leasing and financing programs, as well as variable pricing alternatives, can increase accessibility and affordability for customers.

1. Location

One of the company's strengths is its robust dealer network and global distribution network.

Ideally, CNH Industrial

1. Advertising:

To increase brand recognition and foster consumer loyalty, CNH Industrial has to improve its marketing communications.

Effectively reaching and engaging target audiences can be achieved by utilizing digital marketing channels, social media platforms, and content marketing.

Collaborations with influencers, trade exhibitions, and business events can increase the credibility and visibility of a brand.

Step 3:

Marketing performance evaluation: a. Sales and revenue: Assess regional and product-specific sales performance, contrasting it with historical data and industry benchmarks. Analyze market share trends and revenue growth rates.

1. Customer Satisfaction: Surveys and comments are collected to gauge customer satisfaction levels, pinpoint areas for improvement, and promptly address any issues raised by customers
2. Brand Perception: Use market research and social listening technologies to keep tabs on brand perception and reputation. Analyze target customers' brand awareness, perceptions, and loyalty.
3. Marketing ROI: Analyze key performance metrics including return on investment, customer acquisition cost, and customer lifetime value to assess the success of marketing campaigns and activities.
4. Competitive Analysis: Evaluate the market share, positioning, and competitive tactics of the main rivals to pinpoint areas where CNH can gain an advantage.

 

Step 4:

Improvement Suggestions: a. Adopt Digital Transformation: Invest in digital marketing tools including online advertising, social media marketing, and e-commerce to increase customer interaction and reach a larger audience.

1. Sustainability is the focus: To meet rising consumer demand and regulatory requirements, develop and promote environmentally friendly and sustainable solutions across all product lines.

Enhance client loyalty, create individualized experiences, and give post-sale assistance by implementing customer relationship management solutions.

1. Increase Market Coverage: By utilizing the current distribution network and customizing products for regional needs, find and enter new emerging areas with significant development potential.
2. Enhance innovation and differentiation by continuing to invest in R&D to launch cutting-edge products and technologies that set CNH Industrial apart from rivals.
3. Encourage Partnerships: Work together with business associates, IT companies, and governmental organizations to take advantage of synergies, enter new markets, and promote innovation.

CNH Industrial may improve its marketing strategy, boost its position in the market, and maintain long-term growth by performing a marketing audit and putting these recommendations into practice.