Essay on Aston Martin in Turkey
In recent decades, Aston Martin has developed to be an iconic marque symbolized with luxury and elegance since 1913 (Aston Martin, 2015). However, Aston Martin has slowed down the market demand in Europe and North America (KPMG, 2013: 12). Nevertheless, Aston Martin plans to do an investment to expand the global market (Tift, 2015), Meanwhile, because Turkey is the fastest rising country for luxury cars, it seems advisable to target Turkey as a potential developing market (Porturkey, 2013). This report will attempt to evaluate the expansion of Aston Martin in Turkey with macro PESTLE analysis, followed by SWOT analysis, a market entry strategy and concluding recommendation for future marketing strategies based on the …show more content…
Turkey has a special location which connected with Europe and Asia, it still stay the EU accession process, because a number of political obstacles including relations with Cyprus (World bank, 2015). As a result, western and eastern parts of Turkey have great disparities in the quality of infrastructure, western Turkey is close to the Europe and has relatively good infrastructure, the people is here earn more than eastern turks (OECD 2011: 9). Hence, western region development of society is a significant factor for Aston Martin to choose target market in Turkey.
Although inflation targeting has been subsided so far, the purchasing power of turks is relatively lower compared with Europe, almost 75% of population does not own a car yet, and more than half domestic consumption of customer products is imported (Abylkassymova et al, 2011: 8). Less than 1.6-emission vehicles dominated 90% new car sales market share, one of reason is that Turkey’s gas and oil is the most expensive in the world (Invest in Turkey, 2014: 17). Although Turkey has a large blank market of new cars sales, the purchasing power still low, Aston Martin as a luxury car segment should focus on people in western