Chevy Worksheet

Over the last 100 years, Chevrolet has been successful in developing a broad portfolio of products due mostly in part to the company’s strong brand equity (Ferrell and Hartline, 2014, p. 406). Chevrolet’s brand has proven to be an evident strength in the company’s product mix (p. 406). A vehicle’s brand provides many intangible attributes related to quality, design, utility, and self-image for buyers which lead to significant brand loyalty (p. 406). Chevrolet’s brand loyalty has been a great strength in its product mix. Chevrolet’s marketing strategy of introducing a new car model each year was strength of the company’s product mix as it allowed Chevy to overtake Ford in sales (p. 406). The company is projected to gain U.S. market share over the next for years as dozens of new trucks and crossovers are launched (Irwin, 2016). An estimated 88 percent of the company’s light-truck and car portfolio is sent to be redesigned by the 2020 model year which should lead to increased profitability (Irwin, 2016). …show more content…
407). In fact, some vehicles that Chevrolet thought would succeed actually failed miserably (p. 407). Safety issues, poor quality, and product recalls have been some of Chevrolet’s biggest weaknesses in its product mix. These weaknesses were seen in vehicles such as the Corvair and the Vega. The Corvair presented steering issues while the Vega did not meet the quality expectations of consumers (p. 407). Faulty ignition switches have been linked to at least 13 deaths, have caused Chevrolet a loss of $1.3 billion, and have been the cause of recalls (Bhasin, 2015). Facts such as this affect the company’s brand image (Bhasin,