Table of contents
- Ranger Automobiles Pvt. Ltd
- Customers and a Targeted Market
- This Industry’s Growth Trends
- Our mission is to price power
- Our Purpose
- Communication and Computer Software
- Resource Requirements
- Marketing Strategy
- Plans for Advertising and Promotion
- MEDIA FOR ADVERTISING
- The Challenge
- How do we intend to take advantage of our competitors’ flaws?
A business sketch is a formal statement of a set of company objectives, the reasons for believing they are feasible, and a blueprint for achieving these goals. It might also include information about the firm or organization that has attempted to achieve those objectives in the past.
The for-profit or non-profit objectives being tested might be for-profit or non-profit. Economic objectives are often prioritized in for-profit company planning. Nonprofit and government business strategies tend to focus on service purposes, while non-profits may also focus on profit maximization. Changes in consumer, client, tax-payer or big community appreciation and branding might be the focus of a business strategy. A marketing strategy is a business graph with the main aim of improving understanding and branding.
Bentley Motors Limited is a British company based in the United Kingdom that creates, produces, and manufactures luxury automobiles under the Bentley brand. Mr. W. O. Bentley founded Bentley Motors Limited in Cricklewood, North London on the 18th of January 1919. In 1931, Rolls Royce Motors purchased Bentley from its manufacturers and continued to produce it until the 1980s, when they went bankrupt and sold it to Vickers. Vickers purchased the firm from Volkswagen in 1998, after 18 years.
It is now a subsidiary of Volkswagen AG, with headquarters in Crewe, England. The handmade nature of Bentleys, as well as their classic looks, have made them famous. They also have other distinguishing features such as superior comfort, a subtle and exciting riding experience, and a track record of continued performance. They’ve won the famous 24 Hours of Le Man’s trophy six times thanks to their graphical principles.
Bentley Speed 6, Bentley-412-Liter, Bentley Continental, Bentley-Arrange, and Bentley Turbo-R are some of the most famous Bentley models. As of 2016, Bentley only manufactures the Continental Flying Spur, Bentayga, Continental GT, and Mulsanne models, as well as their variants. The majority of Bentleys are still built at London’s Crewe factory, while certain Continental and Flying Spur models are built in Germany.
For many people, owning a Bentley is about more than just getting from point A to point B; it’s about “arriving” there with style and grace, courtesy of a contemporary marvel of modern technology and traditional handcraftsmanship at the pinnacle of English luxury. Bentley is a well-known businessperson.
In its structure and visual philosophy, it swirls between ideologies and the notion of “Britishness.” With this differentiation, Bentley has thrived in the worldwide luxury vehicle market. Bentley’s team of expert artisans in leather, metal, and wood craftsmanship complete every vehicle they produce. To provide the pinnacle of luxury and a vehicle that is specially designed for their loved ones, the meticulousness of today meets the passion of their ancestry.
“A Bentley symbolizes a profoundly personal adventure, both comfortable and exhilarating.” It entails the motorist entering a world of high-end luxury. It symbolizes the brand’s people’s abilities, enthusiasm, and pride. Their attention to detail can be seen all the way down to the initials engraved into the upholstery of each vehicle. “A one-of-a-kind quality mark.” (About Us) Bentley Motors
Every car is handcrafted in Crewe from the ground up, and its exquisite journey to White Workshop begins there. One automobile takes around 400 hours to build. Under the supervision of the masters in metalwork, 570 kg of metal and aluminum are melted and welded by eighty-three people. Hand-polishing the joints till they are completely unnoticeable is done by a dedicated staff. It seems to be composed of one solid piece of steel once it has been painted.
Out of 120 Bentley’s drawn-out palettes, colors are chosen according to character order. The holder’s personality is reflected in each color. Each vehicle is corrosion-proofed before being hand-painted to provide a uniform finish. Finally, for a characteristic mirror finish, it’s sanded, polished, and buffed for roughly 12 hours using the softest lamb’s wool.
Bentleys are known for their lavish woodwork, which includes 10 different kinds of veneers on a walnut, cherry, or oak foundation. After selecting the veneer, it is reflect matched, sanded, and cured for 72 hours before being polished.
Each week, the leather-based workshop sources almost 3000 bull skins. Hides are imported from Northern Europe, and professionals inspect and label each hide. To handcraft, all of the leather insides takes around 150 hours of labor. Their initials are etched within the upholstery at the conclusion of the process.
That single W12 engine, which is likewise handmade, is at the core of every Bentley supercar. After completion, each engine is subjected to regressive testing before being approved off by an expert.
Ranger Automobiles Pvt. Ltd
Ranger Automobiles Pvt. Ltd. is a private limited company that started as a dealership. Its strategy is to cater to the industry’s top rate categorization area of interest. The agency would be a Bentley dealer for the Volkswagen Group, based in the United Kingdom.
Within the company, there are several unexplored controllable markets that need high-quality, elegant, and world-class vehicles. The company is launching its operations in Bangladesh due to the increased market opportunities in Bangladesh as a result of the rising United States, where the population is expected to rapidly increase.
Customers and a Targeted Market
Ranger Automobiles Pvt. Ltd. has hurdles operating in both developed and developing markets. It is clear from the start that the target customers are high-profit organizations looking to buy into the Bentley brand’s symbolism and history, even though the potential customers would intuitively understand that they could get a car with comparable overall performance and specification for less than half the price. We recognize that the goals and desires of target groups in emerging countries may vary from those of target groups in established nations, who are often older or retired men who are highly competent and make a lot of money. In contrast, Bentley’s targeted market in emerging nations is often young, less educated entrepreneurs who share a number of essential characteristics. They have a steady appetite for Western-branded luxury goods, and they regard ideal pleasant as a quintessential attribute associated with these goods—quality can also refer to design, materials, technology, overall performance, and craftsmanship, as well as attributes such as a country’s tradition and heritage, distinctiveness qualities, and perceived superiority and exclusivity. Bentley started up its fee suggestion primarily based on “Britishness” in its recently discovered markets while maintaining its unique value proposition of luxury, overall performance, and exclusivity in its traditional markets, recognizing the differences and opportunities to be had from differentiating its targeting efforts.
This Industry’s Growth Trends
In a foreign nation, the market for our products is growing at an unprecedented rate. The Bentley Bentayga sport-utility vehicle may also be the world’s most opulent SUV, with a sticker price almost seven times that of the average automobile sold in the United States. However, it seems that the hefty charge element isn’t deterring purchases. – From Time Magazine’s Denver Nicks (2016)
According to the research company IHS Automotive, sales of high-priced automobiles are likely to increase significantly by 2020, maybe by as much as a fifth, as a result of rising demand from China and the United States.
Our mission is to price power
Our pricing power will be limited at first by what other Car vendors charge. However, we are the first auto dealer agency in Bangladesh to import Bentley cars to the country. In our country, there are limited competitors for Bentley automobiles. We anticipate that our business will grow as a result of positive word-of-mouth recommendations from our esteemed clients. As a result, I anticipate that our reputation will provide us with some price leverage. We’ll start by introducing a few specific Bentley models in Bangladesh to gauge interest in this product in our nation. The following are the models that will be used.
Bentley Continental GT Auto (cost: $78,000)
Bentley Continental GT 6.0 W12 Auto (price – 69000$) Bentley Continental GT 6.0 W12 Auto (price – 69000$) Bentley Continental GT 6.0 W12
76000$ Bentley Continental Flying Spur 6.0 W12 Flying Spur 4dr Auto
Bentley Continental GTC SPEED 6.0 W12 CONVERTIBLE Auto (price – 170000$) Bentley Continental GTC SPEED 6.0 W12 CONVERTIBLE Auto (price – 170000$) Bentley Continental GTC SPEED
Bentley Mulsanne 6.75 4dr Auto (price – 240000$) Bentley Mulsanne 6.75 4dr Auto (price – 240000$) Bentley Mulsanne 6.75 4
If we achieve our desired goal, we want to expand our business by bringing in more luxurious models.
Our mission is to provide a ride to every customer that exceeds their expectations in a polite, professional, and timely way, hence increasing genuine consumer value. We will serve our customers as if they were members of our family, assisting them in meeting their transportation requirements. By achieving our target, we will be able to establish an environment that supports long-term growth and appreciates the accomplishments of our employees, and we will encourage our team members to succeed and develop. We’ll create a welcoming, enjoyable, and family-friendly environment. We’ll establish and maintain a presence in the neighborhood. We’ll be involved in local and regional organizations and activities with vigor. We wish to be your automobile sales and service supplier for the rest of your life. “Dedicated to Quality, Committed to Excellence” is our motto.
A vision statement is a written representation of the level of excellence to which we may aspire as a company. It is a future-oriented description of an agency in its finest country.
Customers and team members will be consulted. We’ll ask questions (rather than making assumptions) in order to understand your specific requirements, objectives, and expectations. We shall want to understand before we seek to comprehend.
We’ll operate in an atmosphere of trust and respect for one another. We shall be compassionate and sensitive to requests while also being truthful and timely in order to avoid false expectations.
We’ll think in terms of surpassing customer expectations while also doing what’s right; in other words, we’ll strive to go the next step beyond customer satisfaction and into customer enthusiasm.
We’re going to do it. In order to cultivate a win-win culture for both customers and investors, speed is essential.
We’ll check up with the customer to see whether their expectations were met or surpassed.
We will continue to look for methods to improve our skills and the quality of our goods and services in the eyes of our customers.
By anticipating the needs of our customers and employees, we will be proactive.
value statement specifies a role that a company must perform in order to achieve its goal quickly.
Our team members are our most valuable asset. Open and honest communication will foster trust and enable men and women to contribute their unique talents to the team’s improvement.
We are committed to becoming the finest in the industry. Half-hearted attempts will not be tolerated. We’ll choose quantifiable goals, work hard to achieve them, and celebrate our accomplishments.
An environment that is helpful: Everyone in our environment, including crew members and customers, is really cared for, supported, and handled with.
Safety: Our Customers and staff members shall be kept safe at all times. If a potentially harmful situation is identified, it is the responsibility of each team member to ensure that it is remedied.
Team members accept responsibility for their activities. We assume the duty, accountability, and authority to overcome barriers and achieve success beyond our wildest expectations. We’ll work objectively to quickly and totally solve problems. We’ll do our part to help.
Communication and Computer Software
We want to use all of the current computer and communications technology to put Ranger Automobiles Pvt. Ltd on an equal footing with my major rivals. The equipment’s preliminary specifications and pricing range are shown below.
We want to use all available communication tactics in order to reach out to our customers as quickly as possible and to increase the flexibility of our customer service. The following communication methods will be used by us.
Panasonic – DECT 6.0 Expandable Cordless Phone System with Digital Answering System – Black will be used, and it will cost about 8000tk.
For our fax transmitting operations, we will utilize a Brother MFCL2700DW Compact Laser All-In-One Printer with Wireless Networking and Duplex Printing, which will cost us about ten thousand tk.
Because we’ll be walking through a high-end store, we’ll be using high-end computers as well. Every employee will get a 21.5-inch iMac for this purpose, which will cost about 81000Tk per computer.
For 24 hour usage, we will utilize the greatest ISP in town.
Managing a business
We plan to run our company as a partnership in the future. Because human individuals with one-of-a-kind talents and abilities may work together in a partnership firm. The day-to-day tasks are certainly simpler to handle. A partnership is a good way to start since it entails a private contract.
Consultants with specialized knowledge
Before we begin doing business, we believe it is critical that our team of professional advisers be in place. Following is a list of these experts:
A.K. Islam is a lawyer (Bangladesh Supreme Court) Mustafiz Rahman is a bookkeeper (Ex-Accountant, DBBL) Shafqat Hoque (Insurance) (Green Delta Finance Ltd.) A.H. Ahsan (banker) (Ex-Officer, Bangladesh Bank)
Licenses for trading: Dhaka North City Corporation is a government-owned corporation based in Dhaka, Bangladesh.
Number of tax IDs (TIN): 162026307803 (National Board of Revenue)
The registration number for the VAT: 26471258423 (National Board of Revenue)
Certificate for Import Registration (IRC) – 16855574865 (Office of the chief controller of imports and exports)
Copyright Registration – Copyright Office
We plan to employ Green Delta Insurance Company to safeguard our company. Mr. Shafquat Hoque will compile a list of all insurance policies for us.
In Bangladesh, our showroom will be located in Gulshan-1, Dhaka. For our display, we are purchasing a 3000 square foot rectangle shaped zone. One basement is dedicated to the parking lot, which may accommodate up to 20 automobiles. Our showroom has three floors and can accommodate over 80 new Bentley automobiles.
Basement: The basement is mostly used for parking automobiles. The security guards will have their own room (with bath) in the basement, which will be roughly 2500 square feet. Nearly 20 automobiles may be accommodated in this location. The generator will be installed in the basement, where it will not disturb clients with its noises and odors. There will also be a lift that will provide access to the basement, allowing customers to easily interact with auto parking.
First floor: This flooring will have a supervisory area as well as a cash register. There will also be a waiting area on this level. There will be a sofa and other resting items in the waiting area for patrons to use.
First, second, and third floors: This three-tiered flooring will be embellished with a variety of colored papers. And these three floors can keep over eighty brand new Bentley automobiles that were brought straight from the United Kingdom.
Gulshan-1 was chosen for a variety of reasons
Gulshan-1 will be the location of our showroom. Gulshan-1 was chosen since it is the most beautiful area in Dhaka City. Everything in this property is well-planned and tastefully adorned. It is also a diplomatic and residential district. This region was home to the majority of the area’s upper-class or wealthy residents, who preferred to own fancy automobiles.
The principal amount will be paid off in five-yearly payments until the whole mortgage term is completed.
On the final principle amount, interest will be applied.
For the duration of the mortgage, the rate of interest will remain the same (12 percent ).
Equipment, furnishings, painting, reconstruction, rent, start-up labor, alternative license, six months running costs, and criminal and advisory fees associated with launching “Ranger Automobiles Pvt. Ltd.” totaled $100,000. These are the basic requirements for a nice understanding and experience.
Using e-commerce to purchase a car? It seemed improbable. Auto buyers want to look at the vehicle, test drive it, and maybe smell it. It’s no longer a product that you add to your shopping basket and pay for with a credit card.
So, how are car dealers using the Internet as a means of commerce? In any manner, you can think of. According to new data from the National Automobile Dealers Association, car dealers in the United States are improving their websites for sales and advertising to both end-users and the manufacturers that supply them.
Consider the following scenario:
70% of US sellers indicated they had complete control over certain revenue transactions, including pricing and delivery.
45 percent utilize e-commerce to advertise car components to vehicle owners (B-to-C), and 25% sell to various companies online (B-to-B).
A separate Internet sales team is used by more than half of the dealers.
Unsolicited leads, known in the industry as “surf-ins,” were produced on dealer websites on a monthly average of 320.
Each dealer received an average of 162 leads per month via web marketing.
As a result, we decided to utilize the e-commerce platform to converse with customers and allow them to e-book their preferred vehicles while sipping Champaign or another beverage. We have our own website, and we’ve decided to include an eCommerce section so that our valued customers can easily search and reserve their ideal car. The website’s user interface will be attractive and user-friendly, ensuring that our valued consumers have a positive experience when browsing our site. To expand our company, we want to partner with large and well-known classified platforms such as Bikroy.com, Carmudi.com, and classifieds.com.bd.
The following is a list of the bureaucratic and legal difficulties that a startup entrepreneur must face in order to incorporate and register a new business in Bangladesh, as well as the time and costs associated with doing so.
Verification of the prospective business enterprise’s strong points through the internet
Contact the Registrar of Joint Stock Companies and Firms for further information.
Pay for adhesive stamps at a certain bank.
Register your archives with the Registrar of Joint Stock Companies and Firms.
Make a seal for your business.
Fill out the VAT registration form.
Obtain a change of address license.
Bentley does not utilize any kind of mass media, such as television or radio, to market themselves; instead, they host many events, sponsorships, and partnerships, as well as participate in movie promotions. Traditional media such as publications and ads, as well as new digital media, are used to reach out to their clients. They use Facebook, Twitter, and YouTube to keep in touch with corporate supporters on a social level.
We made a drawing to expand a list of customers we acquired throughout our previous company. We will choose customers who are interested in high-end automobiles. Because Bentley does not utilize media such as television or radio, we will no longer use this sort of media.
We will be hosting events, sponsoring them, and contacting somewhat well-known film directors to fund their films, much like Bentley. We will also promote in popular periodicals, mostly business journals in our nation. We’ll also tap into the power of social media to advertise our products to a specific audience.
Plans for Advertising and Promotion
My first marketing budget for local print media will be $1,000 per month, which will be published in the following neighborhood newspapers: “Prothom Alo” and “Kaler Kantha.” I’m going to hire a top freelance Graphics Designer to create our brochure, business cards, and logo. The estimated cost of the introduction and first print run of the brochure and business forms is $5,000. The future direction of advertising, marketing, and promotion will be determined by my company’s growth rate.
In addition, I plan to join my local Rotary Club and Chamber of Commerce in order to network with local business leaders.
Our showroom will be in Dhaka’s Gulshan-1 neighborhood. Gulshan-1 is a diplomatic and residential district. This is where the majority of the upper-class folks dwell.
We provide the EMII device to customers who wish to buy a car in installments. We’ve also partnered with City Bank, which provides financing to customers who wish to buy a car from our dealership.
We have a provider center as well as a skilled technical team.
We give a two-year provider warranty as a courtesy to our loyal customers.
In addition, we provide authentic and original Bentley spear and components.
Our showroom will be promoted via our own website, online newspapers, magazines, social media, and other blogging sites.
For our dedicated customers, we have several income advertising offers, such as a discount on a certain car model or a free set of tires or rims. We also have a special deal for City Bank Platinum cardholders.
MEDIA FOR ADVERTISING
The most beneficial thing for “Ranger Automobiles Pvt. Ltd” is to choose the advertising medium, which are the advertising channels, such as online newspapers, social media such as Facebook, direct mail, magazines, newsletters, brochures, telephone, internet, billboards, and outdoor exhibits.
Newspaper advertising is defined by its flexibility, timeliness, good local market coverage, wide acceptability, and high credibility. Newspapers enable us to reach audiences ranging from local neighborhood groups to millions of people throughout the nation. As a result, the newspaper is the best medium for our company, Ranger Automobiles Pvt. Ltd.” Daily Prothom Alo, The Daily Star, the Daily Jugantor, Daily Naya Digonto, Daily Ajker Kagoj, Daily Janakantho, Daily Inqilab, Bangladesh Observer, Daily Independent, and Daily New Nation are the newspapers that will be utilized by ” Ranger Automobiles Pvt. Ltd.”
Geographic and demographic sensitivity is extremely, as is credibility and prestige, high-fine reproduction, a long shelf life, and a precise pass-along connection. In these cases, Ranger Automobiles Pvt. Ltd will employ magazines as a form of advertisement.
Use of Social Media
Social media has evolved into one of the most potent forms of advertising today. The majority of people in our country use Facebook. Facebook has the potential to be a very high-quality advertising channel. Not just Facebook, but also other microblogging websites like Twitter, Whatsapp, and Viber may be used as an advertising platform.
YouTube is a video-sharing platform that is free of charge. YouTube provides a cost-free platform for distributing creative promotional videos. Every day, millions of people visit YouTube to watch movies, songs, and fitness videos.
This kind of threat may be used to get attention. We can use YouTube to share our commercial, and it will be of extremely excellent quality.
A website is a relatively simple approach to getting to a customer’s door. We’ll create a website. We can access our showroom, vehicle list, and fees on this website. In addition, we provide several possibilities on our website for users to see our future items and information.
Fortunately, there is no Specific Competition to worry about, although my main competitors are
- Rakim’s Automobiles
- Luxury Automobile BD.
- BMW Bangladesh
- AUDI Bangladesh
- Mercedes Benz Bangladesh
How do we intend to take advantage of our competitors’ flaws?
My connected rivals are selling each Bentley car at a greater price, which no longer meets the needs of potential clients. They also don’t have any official Bentley components. Our experience in the automobile industry and servicing provides us with a distinct advantage. We can give our customers an official two-year component warranty, something our competitors cannot. We have highly trained employees and technicians that can supply customers with Bentley’s elegant transportation.
Once our company is up and running, we plan to adopt the following growth strategy. Before any development plans are undertaken, we estimate that it will take roughly 2-3 years to harvest sufficient ride and stage money.
The following will serve as a roadmap for our boom strategy:
We’ll be walking through an office and showroom that has the opulent look and feel of an Official Bentley Store. However, as time goes on, we want to improve our workplace and showroom to replicate the exact feel of an Official Bentley office.
We also want to establish other showrooms in the near future to expand our business and reach more individuals.
We graph to present some additional and other Top10 luxury vehicles of Bentley once we have fulfilled our ambitions for this commercial business with our picked Bentley vehicle models, such as:
- Bentley Brooklands
- Bentley Continental Supersports
- Bentley Continental Supersports Wheelsandmore Ultrasports.
- Bentley Continental GT3 Concept
- Bentley Continental Supersports Convertible
- Bentley EXP 9 F
All paperwork will be evaluated by our legal expert. Leases, employment and incentive agreements, license agreements, and important obligations will all be covered.
In addition, depending on our business situation, we want to hire more people in our company.
The danger of running out of money: I plan to keep pretty standard 2-month money-drift estimates. Income, expense, and unplanned contingencies will be forecasted cautiously. Any cash shortages will be corrected right now by slashing prices in order to maintain a healthy cash float and profitability.
A decrease in sales or a lack of money.
- If there is a reduction in sales or a lack of sales, I will be ready to take immediate cost-cutting measures.
- Every element of the product’s value, performance, and image will be improved.
- I’ll look for new methods to increase sales by offering discounts and coupons.
In conclusion, Bentley focuses on high-income sectors and promotes its brand by servicing a high-end part of the car market. It creates high-quality items that are supplied via great dealerships and aren’t afraid to charge a premium. It is well-positioned as a distinctly British firm rooted in history and legacy, and it conveys this promise via consistent and believable partnerships with high-end brands in the luxury consumer goods and hotel industries. As a result, it appeals to the style, opulent grandeur, legacy, and exclusivity of its current and future clients.
The Ranger Automobiles Pvt. Ltd. will be a dream location for our country’s most opulent occasions. We have zeroed in on our clients’ needs and will work hard to deliver them with the best carrier Bentley has to offer. We’re hoping to keep the prices as low as possible. Our prices will be more realistic than those of our rivals. “Dedicated to Quality, Committed to Excellence” is our motto at “Ranger Automobiles Pvt. Ltd.”