Futura has established themselves as one of the leaders in the Electronic Vehicle market and a leader in innovations. In order to further their control of the EV market, we have developed a strategy to produce an entry level, luxury electronic vehicle that maintains Futura’s core values which allows them to compete on a broader scale with electronic vehicles and hybrids.
After taking everything into consideration, we believe that our strategy will allow Futura to gain market share, gain brand awareness, generate brand loyalty and earn profits through our new programs. We have developed the following plan for Futura:
We will develop a brand new, entry level luxury sedan that is fully electric and named the Gen3. It will still have the core components to a Futura vehicle, but created with a budget in mind to grow the potential target market. This will allow more customers to get their hands on a fully electric vehicle at an affordable price, while still being able to grow the Futura brand. We have also introduced a variety of programs in order to improve brand loyalty as well as giving more options for purchase, including Amplify Your Ride and the Test Drive America campaigns. We will also launch an integrated marking campaign with advertisements in magazines and though web sources.
The first car will ship in early 2015 and will be issued to those who reserved the vehicle in the second half of 2014. We will host the Test Drive America campaign in the second half of the year after the car has been fully announced. This will give potential drivers the chance to drive the car and to place a reservation.
The demand for Gen 3 will be estimated based on the growing EV/Hybrid market over the next 5 years. We have to ability and resources to increase demand if the market grows beyond our estimation. With the expansion of our Supercharger station that was previously in the works our electric vehicles will be more appealing to the mass market. The strategy is proposed to grow Futura’s market share in the EV/Hybrid marketplace by 5% over the next five years and provides
a 20% ROI per year in the future.