We’ve recently completed a really interesting Discovery, tasked with answering a tough brief, how does a challenger brand launch in a monopolised market?
Dominated by one key player and a number of me-too brands, the UK online car buying market is very competitive, but the opportunity existed for a new entrant with a different approach and proposition.
Conducted over a period of 12 weeks and including robust quantitative research and consumer groups across the UK, Discovery delivered complete market and consumer immersion, allowing the opportunity to be assessed from not only a commercial but also a vital consumer perspective.
Key insights revealed high levels of mistrust dominated the car buying and selling market, and nowhere did this seem more prevalent that when online car buyers were mentioned. It seems that online car buyers were seen to be a last resort that would only ever give you a low price and a terrible customer experience – in short not to be trusted and importantly to be avoided.
Propaganda’s strategic recommendations advised that the key to developing a successful new brand in this market would be to turn perceptions on their heads by delivering the UK’s most fair and accurate car buying service, that delivered guaranteed prices, trustworthy advice and a reliable service.
The brand we developed and recently launched is The Car Buying Service – with its proposition of, Sell your Car with Confidence. Three handover locations across the North of England and online all opened for business earlier this month. It is early days but so far the launch has been a success with 100% of those booking a valuation appointment going on to sell their car to The Car Buying Service.