MKT-315-RS-Marketing-Plan-Analysis-and-Presentation-Part-1 Crawford Brittany PDF

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Marketing Plan Analysis and Presentation: Part 1 – Research Template Directions: Visit the website for the company you have selected and obtain a copy of the annual report. Locate three to five additional resources that will provide data and information related to the brand story; the company vision, mission, and marketing objectives; and strategies and tactics the company is currently using to meet the marketing objectives. You will also use this information to complete a SWOT analysis. Apply your research findings when completing each item below. Company Name: Carvana Co. Brand Story: In 250 words, provide a thorough description of the company and brand. Reference and cite your research sources within the summary. Carvana Co. is an e-commerce platform created to buy and sell used cars with ease to the consumer. The company was formed in 2011 by Ernest Garcia III, Ryan Keeton, and Ben Huston (UNITED STATES SECURITIES AND EXCHANGE COMMISSION, 2017). The company’s goal is to make buying a used car as simple and quick as possible. Carvana does this by utilizing an array of technology that is used throughout the car buying process. This technology helps to cut down on overhead cost that is common with traditional used car dealerships. They brand themselves as the easiest place to buy a car because they provide straight-forward and upfront pricing without hidden fees, a large selection to choose from, and they do so without the added pressure of a car salesman (Carvana Co., n.d.). The company uses their website to sell used cars to consumers. Consumers can use their search filters to limit their search based on specific criteria such as car make, model, trim, etc. This allows Carvana to only show relevant vehicles that meets the specific consumer’s needs. Once the consumer finds the car they prefer, they are able to purchase the car in as little as ten minutes. Carvana provides users with delivery or they can pick up the vehicle at one of their many car vending machine locations. Additionally, Carvana offers an easy sell/trade-in option as well. This experience is similar to the buying process as it’s all done over their website or app and is quick and painless for the consumer.

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Company Vision: Carvana’s vision is focused on providing customers with the best experience, best selection and the best value (Carvana Co, 2019). Company Mission: Carvana’s mission is to change the way people buy cars by providing our customers a car-buying solution that is fun, fast, fair and powered by technology (Carvana Co., 2020). Company Marketing Objectives: Carvana utilizes a multi-channel approach to marketing in order to increase brand recognition. Company Marketing Strategies and Tactics: In 250 words, provide a high-level summary of the strategies and tactics the company is currently using to meet its marketing objectives. Include discussion about the market and consumer data that was used in formulating the strategies and tactics. Reference and cite your research sources within the summary. Carvana uses a broad range of marketing tactics in an effort to expand their brand recognition and to ultimately grow the company. The company currently utilizes a combination of paid advertising through national television, SEO, retargeting ads, customer referrals, digital video, direct mail, PPC, and much more (Carvana Co., 2021). The company understands that in order to continue expanding their customer base, they will need to increase marketing spend in a number of places. As of Dec. 2020, Carvana had a presence in over 70% of the US population which was up approximately 8% from the year prior. According to the US Census, car buying is the largest retail market in the United States, making up over 20% of all transactions (Carvana Co., 2021). Even though it’s the largest market, consumers are still highly dissatisfied with the experience of buying a used car. This is where Carvana’s simple car buying solution can help the business continue to grow and expand in the coming years.

SWOT Analysis: Using the data and information from your research, complete a SWOT analysis for the company. Reference and cite the topic materials for details on conducting SWOT analysis.

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Strengths  Product and technology innovation

Weaknesses  History of losses ($1.4 bil as of Dec 2020)

 Continued market expansion into more US cities and markets

 Limited inventory may not match all consumers needs

 Decrease in cost to acquire new customers



Opportunities  Improve platform even more based on data from online transactions

Threats  COVID-19’s impact to the economy 

 Competitors do not offer as easy of an experience when buying cars 

Ability to keep up with company’s current growth

 Competition from others in the industry

Continue to improve brand awareness, beyond the larger US metropolitan areas

Citation of Sources: Provide APA citations for the company’s annual report and the other research sources utilized in completing the assignment. Nam e of Sour ce Carv ana 2020 Annu al Repo rt

Citation Information

Carvana Co. (2021, February). Form 10-K (No. 001–38073). UNITED STATES SECURITIES AND EXCHANGE COMMISSION. https://otp.tools.investis.com/clients/us/carvana/SEC/sec-show.aspx? Type=html&FilingId=14746586&Cik=0001690820

Carv ana Abou t Us

Carvana Co. (n.d.). About Us. Carvana. Retrieved April 11, 2021, from https://www.carvana.com/about-us 3

Bloo mber g articl e

Stock, K. (2018, September 20). Car Shopping by Click Hits Critical Mass. Bloomberg. https://www.bloomberg.com/tosv2.html?vid=&uuid=eeea3600-9aef-11eb-904277b6e042e0ae&url=L25ld3MvYXJ0aWNsZXMvMjAxOC0wOS0yMC9jYXItc 2hvcHBpbmctYnktY2xpY2staGl0cy1jcml0aWNhbC1tYXNz

Initia l SEC filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION. (2017, April). AMENDMENT NO. 2 TO FORM S-1 (No. 333–217085). SEC. https://www.sec.gov/Archives/edgar/data/1690820/000119312517125104/d297 157ds1a.htm

Carv ana Code

Carvana Co. (2020). Carvana Code. https://investors.carvana.com/~/media/Files/C/Carvana-IR/documents/code-ofconduct.pdf

Intro to Carv ana

Carvana Co. (2019, March). Intro to Carvana. Carvana. https://investors.carvana.com/~/media/Files/C/Carvana-IR/documents/intro-tocarvana-march-2019.pdf

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