The automotive industry is changing quickly, and today's dealership looks very different from the traditional image many people may have in mind.
That was one of the topics discussed when Mark Williams Auto Group recently returned to the University of Cincinnati to meet with freshman business students.
Charlie Watson, Marketing Director for Mark Williams Auto Group, and Josh Williams, General Manager of Queen City Ford and Vice President of Mark Williams Auto Group, shared their experiences and provided students with an inside look at the business of automotive retail.
During the afternoon, the students learned about the various components that make up a dealership operation. Sales, service, marketing, customer communication, lead management, and other departments all play important roles, and each must work together to create a successful customer experience.
Charlie and Josh also discussed the business side of automotive retail, including where dealership revenue comes from and how dealerships work to attract customers in an increasingly competitive marketplace.
One of the biggest areas of change is technology.
Artificial intelligence is becoming a growing part of the automotive business. Dealerships are exploring ways to use AI for marketing, communication, lead follow-up, data analysis, customer engagement, and internal processes. As these tools continue to develop, businesses must determine how to incorporate technology while still maintaining the human side of customer service.
That made the topic particularly relevant for a group of business students preparing to enter the workforce.
The students had plenty of questions throughout the discussion, creating an interactive conversation rather than simply a presentation. Charlie and Josh were able to share real examples from their careers while giving students a better understanding of what happens behind the scenes at an automotive group.
The visit also connects directly to a project the students are completing for their coursework.
Students will be conducting a SWOT analysis of Mark Williams Auto Group, examining the organization's strengths, weaknesses, opportunities, and threats. They will then present their findings to the group.
The project gives students an opportunity to take concepts they are learning in class and apply them to an actual business. It also gives Mark Williams Auto Group the chance to hear fresh observations from students who are looking at the company from an outside perspective.
Experiences like this are an important part of connecting education with the business world. Students can learn about an industry directly from professionals working in it, while businesses can engage with the next generation of talent and hear new ideas.
Mark Williams Auto Group is grateful to the University of Cincinnati for inviting the team back to campus. We enjoyed the conversation, appreciated the students' thoughtful questions, and are looking forward to seeing the results of their SWOT analysis.