Harvard Case - Geely Buys LTI
"Geely Buys LTI" Harvard business case study is written by David Owen Robinson, Kimberly McGinnis. It deals with the challenges in the field of Marketing. The case study is 12 page(s) long and it was first published on : Feb 3, 2016
At Fern Fort University, we recommend Geely adopt a multifaceted strategy to integrate LTI effectively and leverage its strengths to achieve sustainable growth in the global automotive market. This strategy involves a comprehensive approach to brand management, product development, market expansion, and digital transformation.
2. Background
Geely, a Chinese automotive giant, acquired LTI, a Swedish luxury car brand, in 2010. This acquisition aimed to bolster Geely's global ambitions and establish a foothold in the premium car segment. LTI, known for its high-performance sports cars and sophisticated design, brought valuable expertise and a strong brand reputation.
The case study explores the challenges Geely faced in integrating LTI, including cultural differences, brand positioning, and market penetration.
3. Analysis of the Case Study
This case study can be analyzed using various frameworks:
a) Strategic Framework:
- Competitive Advantage: Geely aimed to leverage LTI's brand equity and technological prowess to gain a competitive edge in the luxury car market.
- Growth Strategy: The acquisition was a key element of Geely's internationalization strategy, seeking to expand into new markets and target affluent customers.
- Corporate Strategy: Geely sought to diversify its portfolio and establish a presence in the high-margin luxury segment.
b) Marketing Framework:
- Brand Positioning: Geely needed to carefully manage the integration of LTI's brand identity while maintaining its own brand image.
- Marketing Strategy: Geely had to develop a comprehensive marketing strategy to reach new target markets and communicate LTI's unique value proposition.
- Segmentation, Targeting, Positioning (STP): Geely needed to identify specific target segments within the luxury car market and tailor its marketing efforts accordingly.
c) Operational Framework:
- Product Development: Geely had to manage the integration of LTI's product development processes and ensure seamless collaboration.
- Manufacturing Processes: Geely needed to optimize its manufacturing processes to accommodate LTI's high-quality standards and production requirements.
- Product Distribution: Geely had to establish efficient distribution channels to reach LTI's target markets globally.
4. Recommendations
Geely should implement the following recommendations to maximize the value of the LTI acquisition:
a) Brand Management:
- Brand Positioning: Clearly define LTI's brand positioning within the luxury car market, highlighting its heritage, performance, and exclusivity.
- Brand Integration: Develop a cohesive brand strategy that integrates LTI's brand identity with Geely's global brand image.
- Brand Communication: Create a compelling brand story that resonates with LTI's target audience and communicates its unique value proposition.
b) Product Development:
- Product Innovation: Invest in research and development to introduce new models and technologies that enhance LTI's performance and appeal.
- Product Lifecycle Management: Develop a comprehensive product lifecycle management strategy that ensures the continuous evolution and improvement of LTI's product portfolio.
- Product Positioning: Position LTI's products within specific segments of the luxury car market, targeting distinct customer needs and preferences.
c) Market Expansion:
- Market Segmentation: Identify and target specific customer segments within the luxury car market, including affluent individuals, business executives, and car enthusiasts.
- Market Research: Conduct thorough market research to understand consumer preferences, competitor offerings, and market trends.
- Global Marketing: Develop a global marketing strategy that leverages LTI's brand equity and reaches new markets effectively.
d) Digital Transformation:
- Digital Marketing: Leverage digital marketing channels, including social media, search engine optimization (SEO), and content marketing, to reach target audiences.
- E-commerce: Develop an online platform for LTI's products, enabling customers to purchase vehicles and access information conveniently.
- Customer Relationship Management (CRM): Implement a robust CRM system to manage customer interactions, track preferences, and personalize marketing efforts.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: The recommendations align with Geely's core competencies in automotive manufacturing and its mission to become a leading global automotive player.
- External Customers and Internal Clients: The recommendations address the needs of LTI's target customers, including affluent individuals and car enthusiasts, while also considering the perspectives of internal stakeholders.
- Competitors: The recommendations take into account the competitive landscape within the luxury car market, highlighting LTI's unique strengths and differentiation points.
- Attractiveness ' Quantitative Measures: While specific quantitative measures are not provided in the case study, the recommendations aim to enhance LTI's brand equity, market share, and profitability.
6. Conclusion
By implementing these recommendations, Geely can effectively integrate LTI, leverage its strengths, and achieve sustainable growth in the global luxury car market. A comprehensive approach to brand management, product development, market expansion, and digital transformation will enable Geely to capitalize on the acquisition and establish LTI as a leading player in the premium segment.
7. Discussion
Alternatives:
- Standalone Brand: Geely could have chosen to maintain LTI as a separate brand, avoiding potential brand dilution.
- Limited Integration: Geely could have opted for a more limited integration, focusing on shared resources and technology but maintaining distinct brand identities.
Risks:
- Brand Dilution: Integrating LTI's brand into Geely's portfolio could dilute LTI's premium image.
- Cultural Differences: Managing cultural differences between Chinese and Swedish teams could pose challenges.
- Market Acceptance: LTI's products may not be readily accepted in all global markets.
Key Assumptions:
- Geely's commitment to investing in LTI's growth and development.
- LTI's brand equity and technological expertise will translate effectively into the global market.
- Geely's ability to manage cultural differences and integrate LTI's operations effectively.
8. Next Steps
- Develop a detailed integration plan: Outline specific timelines, roles, and responsibilities for integrating LTI's operations.
- Conduct market research: Gather insights into consumer preferences, competitor offerings, and market trends.
- Develop a brand strategy: Define LTI's brand positioning, communication strategy, and marketing plan.
- Launch new product models: Introduce innovative models and technologies to enhance LTI's product portfolio.
- Expand into new markets: Target specific segments within the luxury car market globally.
- Monitor progress and adjust strategies: Continuously evaluate the effectiveness of the integration and adjust strategies as needed.
By taking these steps, Geely can ensure a successful integration of LTI and achieve its ambitious goals in the global luxury car market.
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Case Description
Chinese automobile manufacturer Geely Automotive (Geely) bought the manufacturer of the iconic London taxi cab from its bankrupt British parent company. The manufacturer's sole product, the TX4, was a highly specialized taxi vehicle ideally suited for taxi work. It included many features for disabled passengers such as a power-operated wheelchair ramp and a wide rear passenger door. However, the vehicle cost more than twice as much as its competitors and demand was not enough for successful mass production. On the one hand, increasing awareness of disability rights in most developed nations suggested that Geely would have an opportunity to take the TX4 worldwide with an aggressive promotional campaign, and would benefit from cheap production costs in China. On the other hand, transportation network companies such as Uber and Lyft seemed to be pushing the entire taxi industry towards extinction.
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