Chrysler Aspen Hybrid Suv

Chrysler Aspen Hybrid SUV

The product to be discussed for this project is the introduction of the Chrysler Aspen Hybrid for 2014. The 2014 Chrysler Aspen Hybrid Sport Utility Vehicle will be introduced as a luxury crossover hybrid. In an era when fuel efficient vehicles are in demand, Chrysler will introduce a vehicle that will meet the demands of the energy conscious without compromising style and comfort.

Product Description

Chrysler Aspen 2014 has the potential to be the most sophisticated Sport utility vehicle ever produced in the United States markets. The Aspen Hybrid offers a wide range of standard features in other vehicles considered upgrades and numerous upgrade options. The Aspen Hybrid has 40/20/40 split heated bucket seats in the second row with enough room for eight to travel comfortably with adequate cargo space. The Aspen has safety features such as an Electronic Stability Program, Tire Pressure Monitoring, ParkSense system and the Electronic Roll Mitigation as standard equipment. The interior also comes equipped with 11-degree reclining seatbacks, adjustable air outlets and dual cup holders. Also standard is SIRIUS Satellite Radio, power rear lift gate, DVD entertainment system at rear, a remote start and a full-screen navigation radio (Chrysler Aspen, 2011). The Aspen Hybrid is also designed with a new hydraulic hybrid engine that will surpass the level of fuel economy that the conventional two-mode hybrid engines currently use.

Product & Firm History

The Chrysler Corporation was founded in 1925 by Walter Chrysler after the first vehicle was introduced by him in 1924. Over the years Chrysler has experienced many lows and highs. Chrysler suffered financial challenges in the 1970's but also enjoyed success in the 1980's with the minivans and K-cars. In 1987 Chrysler purchased American Motors which caused financial problems again and a reorganization of the company and found financial success again with the production of the Jeep and Dodge Viper. In 1998 Chrysler was purchased by Daimler-Benz of Germany. From 2007-2009 Daimler sold 100% if its stake to Cerberus creating Chrysler LLC, the first privately held American Auto Company in 50 years. (Ashmalla, Camp & Able, 2011, p. 164). Chrysler was unable to overcome its financial problems and took a government bailout in 2009 to reorganize the company. This bailout was only made possible by the interest of Fiat to hold shares in the company (Maynard, 2009). Chrysler's partnership with Fiat, a popular Italian automaker, is helping Chrysler reemerge as a strong automotive competitor again.

The Chrysler Aspen was the first full size sport utility vehicle offered by Chrysler. It was initially introduced for model year 2007 with a hybrid model introduced for model year 2009. When it was introduced by Chrysler, it was only available in one series with a variety of equipment packages to choose from to create a vehicle for the purchaser. The vehicle was poorly received in past years. Chrysler discontinued its production in 2009.

The Traditional 4Ps

Product

In 2009, Chrysler attempted to compete with larger, luxury SUVs like the Cadillac Escalade and Lincoln Navigator with the Chrysler Aspen. Chrysler used two-mode hybrid technology but unfortunately, it only saved the consumer an additional 5,000 miles per gallon and cost an additional $3,000 to purchase. The driving quality was poor and third row passenger seating was too cramped for adults to use. The revamped Chrysler Aspen Hybrid of 2014 will sport a new design that will appeal to consumers' need for luxury and space while going beyond their expectations in regards to fuel economy.

Place

Chrysler will first target current Aspen and Dodge Durango owners and provide them with a barrage of information about the revamped Chrysler Aspen Hybrid. Chrysler will unveil and give customers a chance to see the new Chrysler Aspen Hybrid at the 2013 Detroit Auto Show. The Aspen Hybrid will then be rolled out to select dealerships in the fall of 2013; however, the customer will be able to go to any Chrysler dealership and order his or her own Aspen. The 2014 Chrysler Aspen design offers a diverse array of consumer options that will interest them from both a financial and convenience vantage point. The Chrysler Aspen Hybrid SUV will be introduced into the market at dealerships nationwide. The dealerships will consist of retail and wholesale establishments.

We also have the new age of social media to consider. Websites will be created to sell online nationwide. The online sales environment will allow consumers to view inventory and select a vehicle based on their needs. The online option will save them time and energy and provide them with parameters for the options and cost of their vehicle to avoid the showroom floor or to provide them with the information for better negotiations.

Price

The Chrysler Aspen Hybrid SUV will be the leader in the luxury crossover category, combining space, luxury and power with the best fuel economy in its class. It will weigh less than a Cadillac Escalade with its unit-body frame design and provide a smoother ride. This, along with a more sophisticated hybrid engine will enable the Chrysler Aspen Hybrid SUV to offer unparalleled fuel economy of any luxury SUV in its class. These features will allow Chrysler to price the Aspen Hybrid closely to its competitors and still provide the consumers with a better value than the original model.

Promotion

Chrysler, like other automakers, will have a marketing budget ratio based on revenue earned or approximately 2.5% to 3.5% of revenue (McKee, 2009). The Chrysler Aspen will be introduced in a variety of ways as this will be the reintroduction of the vehicle into a market that did not receive it well previously. The Aspen has been redesigned to meet the needs of safety, comfort and economy. The promotions will be designed to get the Aspen Hybrid into the public eye for a new appreciation of what the vehicle has to offer.

The Aspen Hybrid will be taken to public road shows as well as being shown in malls and festivals. The vehicle is suited to provide luxury for families and style and performance for the younger generations.

Advertisements will be used to promote the vehicle in the marketplace. Advertisements will be placed on television and in publications to reach the population. They will be designed to show the sporty comfort and safe performance of the vehicle. The advertisements will also be promoted on web links and within related websites.

Radio announcements