Identify the strategic groups within the industry market.

• Who are the major competitors and
• what is the company’s position relative to those competitors?

Review the market of current and potential customers for the industry.

• What is important for customers in this market?
• What appeals might be used to attract consumers within the market?

Study the targeted customer base and strategies used to build customer relationships.

• What strategies are currently being used?
• What customer relationship strategies would you recommend?

For a company looking to penetrate the automotive market, certain aspects need to be considered to pull the consumer base successfully. The first element for consideration is competition, which would comprise established players in the industry. The automotive market has been classified as an oligopoly structure, where only a few players exert a dominant force on market shifts (Alex Yaw Adom, 2016). The company in question has to consider the industry players that are currently dominating the competition and look to supplement gaps in the market that such players are yet to address. One of the more powerful players in the market includes Toyota, a Japanese car market that has been able to extend its reach into the American market due to its proliferation of cost-effective vehicles and spare parts. One of the key elements that stand out for Toyota is its efficient supply chain system, where lean manufacturing and Just-in-time processing are integral to its business model (Uchil, 2014). A second competitor that can be able to provide competition by way of car manufacturing is Tesla, a company that is increasingly looking to overtake all players in the market due to its advancements in electric-power provisions. With the focus of Tesla being the high-end segment of the automotive market, the company continues to invest heavily in Research and Development, driving to increase.             

Pivotal to determining how to sway the consumer base towards the company's product is determining what are the aspects that consumers consider before investing in the product. In the case of the automobile market. According to a related research study on customer preferences for vehicle purchase, 59% of prospective buyers would conduct online research into the product that they look to purchase. Out of the research conducted, 71% of buyers consider the price of a vehicle while 46% of dealers would find about the nearest dealership and their reliability in sourcing genuine products. When it comes to the actual car purchase, customer preferences focus on innate aspects such as safety, which 65% of the customer base would likely consider a primary priority (Armstrong, 2018). The second factor includes fuel efficiency, which 64% of the consumer base considers to be integral to purchasing a vehicle. Other preferences include innate aspects of a brand, such as the level of comfortability, design of the car, and a brand preference that the consumer base.

Based on the nascent factors that were predetermined in the research, a prospective company looking to enter the market would need to consider certain factors for a successful market entry. A car product would need to have enhanced safety features that allow a diverse consumer base to gain the feeling of protection against incidents involving road accidents or car-jackings (Uchil, 2014). For the company to have accrued a powerful appeal with the consumer base, the fuel efficiency of the product would need to be considered, especially in light of rising fuel prices. Thus, the company needs to invest in extensive research and development initiatives with a view to enhancing the fuel consumption that the consumer base would expend.

, several strategies can be used to build customers relationships, especially in an online space.  One approach would involve establishing customer feedback systems, which are used to gain insight into the customer’s perspective both on an individual level and as a collective (Xhavit Islami, 2020). A second approach would entail establishing social media handles where customers can reach the company, a strategy that would help establish rapport with the consumer base. It is imperative that a social media handler respond promptly to questions or comments on behalf of the company, thereby showing that the company values its consumer base and really wants to gain their favor with respect to the products it possesses.