Business Plan for Meineke Car Care Centers, Inc. Essay
Meineke Car Care Centers, Inc. is an automotive franchise company. This company serves as the provider of automotive business training and field support, as well as range of automotive repairs and services. Formerly known as Meineke Discount Muffler Shops, Inc this company was by Sam Meineke in 1972.
The first store was located at Charlotte, North Carolina until the business was sold to a multinational British company. Originally, the concept of Meineke Car Care Center was to provide workmanship and quality products at a very affordable price. With only one store and single product line, the business grew rapidly, making the brands known in the global market (BusinessWeek).
The company name was changed to Meineke Car Care Centers, Inc and the company has been recognized as one of the most trusted brands in America. Meineke repositioned its business from product and service provider to a complete car care center with full range of vehicle services to offer to the customers (Meineke).
Recognized as provider of quality products and services in the market, Meineke gain the loyalty of the customers from different parts of the world. The company was able to gain a reputation and credibility for offering quality brands that are now
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Meineke products include exhaust systems wheel alignment, wheel balancing, strut mounts, coil and leaf springs, steering stabilizers, rack and pinion, motor cushions, CV shafts, oil and filter change, air filters, lift supports, water pumps, brake systems, wiper blades, motor and transmission mounts trailer hitches, belts, serpentine, tire rotation, cooling system, flush, hoses, front end parts, thermostats, radiator caps, batteries, v-belts, transmission flush, air conditioning systems, shocks and struts, tires, tune-up, fuel injection, radiators, and steering and suspension systems.
The company’s services include catalytic converter, wheel alignments, windshield wiper blade replacements, CV joints/boots, A/C, oil and lube service/filter changes, steering, tire balancing, tire rotation, transmission flush, tune ups, fuel injection cleaning, brakes, cooling system services, and auto glass. With these products and services, Meineke was able to build strong foundation in the marketplace. From the small store and single product line, the company is now offering these products and services, reflecting the success of the business in the global market.
The rapid growth of the business in the emerging market has gone to innovations of more products and services and penetration of wider customers. Today, Meineke operates not only in United States but also in different countries across the globe. Many people have already franchised the business but the company continuously develops new products and services to retain a productive relationship with the customers. With a promise of customers’ satisfaction, Meineke was able to add more stores in different locations and constantly growing in the emerging market.
Meineke has locations in the United States, Venezuela, Central and South America, Mexico, Ecuador, Guatemalan, the Dominican Republic, Canada, and Caribbean. Due to consistent success of the company in every location, Meineke is still planning to penetrate new markets to offer the products and services to potential customers in other countries; in fact, Meineke plans to penetrate another country and the company develops a strategic marketing plan to maintain the success of the company in the global market.
Global Business Strategy
The company aims to penetrate new market and the following activities will be included in the short term goal of the company.
Conduct a research about the new target markets.
Find the best location where the company could place the stores.
Develop marketing plan based on the information gathered for marketing research.
Build rapport to the new target market.
Conceptualize effective promotional techniques and develop persuasive advertisements.
Plan the distribution process for easier transaction.
To be recognized as the best provider of automotive products and services in the global market.
Outwit the competitors by gaining the loyalty of the customers and recognition and awareness of the customers of other companies.
Expand the business by building more stores and offering new product lines and services.
To be recognized as the market leader.
Assets to Achieve the Company Goals
The reputation and credibility of the company for providing quality products and services can already be considered as great strengths in the marketplace. The fact that Meineke has already numerous stores in different locations will serve as the company’s steeping stone in the global market. Many people have already franchised the business and brought the name of the company to numerous places, serving the people and letting them experience the high standard quality that the Meineke offers to the public. Apparently, the strength of the company comes from many sources which enable them to grow rapidly in the marketplace.
The name recognition which is gained from over thirty years of service to people has helped the company to be considered as the market leader despite the existence of the competitors in the market. The company also reassures the customers with nationwide warranty and standardized level of excellent service and quality (Bison). Through constant effort of developing new products and offering superior automotive repair services at discount prices, the company was able to gain the loyalty of the customers which lead to increasing demand of Meineke’s product lines and demands.
Initial Location Strategy
In order to expand the business globally, the company needs to look for another location where Meineke can penetrate the market. Market penetration is applied by business firms if the company will offer new products in the existing market or if the company will place a new store in a new location (Kerin et al, 310).
In the case of Meineke, the company needs to study which country would be the subject for market penetration to offer the products and services to entirely different groups of people. Definitely, Meineke aim to penetrate new market not only for profit and revenue purposes but also for global expansion and nationwide name recognition.
Global expansion can be the reflection of the company’s good reputation in the marketplace; however, this strategy needs creative concepts to make the business survive in the new market. Regardless of the experience and brand recognition of Meineke in the market, the new market may not bite the products and services that the company offers to the public. This is the reason why, the company needs to analyze which country should be targeted for the business offers.