The marketing mix of Mercedes Benz shows what a fantastic company Mercedes is, and how, as per Business Week Magazine, it is the top most recognized global automobile brands. This high profile success is not an accident but hard work, patience and excellent application of effective marketing strategy all rolled into one.
Mercedes benz is considered as the world’s oldest manufacturer of luxury carmaker and the reputation is unlikely to go away in the near future. This marketing mix looks at the company’s marketing and advertising strategies it has implemented over the years to establish itself as a leader in the fiercely competitive automobile industry.
Product in the marketing mix of Mercedes Benz
The name Mercedes Benz needs no introduction even to a
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Mercedes remain as one of the leading brands in the Indian market, that too for more than 50 years. The company currently assembles its models — S-Class, E-Class, C-Class and the ML-Class while other models, including GL-Class, CLS-Class and SLK-Class are fully imported.
Promotion in the marketing mix of Mercedes Benz
Although Mercedes Benz marketing strategy used to focus on the luxury, safety and precision engineering of its cars, competition has propelled it to adjust its product to suit the changing consumer attitudes. Now, their marketing strategy focuses more on presenting a more energetic, fun loving and approachable side of Mercedes Benz.
The evolution of its marketing strategy can also be a connected to its expanded market. Mercedes Benz has, over the years, found it necessary to expand the market to include younger consumers. Another marketing strategy employed by Mercedes Benz is its decision to slice prices and make the product more affordable to consumers.
In order to increase communication with its target market, Mercedes Benz has maintained accessibility to consumers through the following
Online advertising
Social
Positioning: Mercedes-Benz is positioned in the top 10 of the lustiest cars on the market, because their designs are unique, unrecognizable in any other kind of car that is on the market.
The industry for superior luxury cars is a highly exclusive one with a few automotive makers making their presence felt. The major market share is held by Porsche which is known to have formidable rivals like Benz and BMW. The SUV supercar segment is a highly evolving one where manufacturing style localities and units are the decisive forces that ultimately culminate towards the cost of the car.
In order to strive for success in the automotive industry innovation and advertising is the name of the game, Ford Motor Company, sets the standard for innovation in the automotive industry with the new Ford F-150. A crucial component in the automotive industry is advertising of the company’s vehicles. The companies must ensure that their message is clearly and effectively conveyed to potential consumers. It is vital for
Creation, acceleration and emotion are the key components for any automobile industry to deliver its goods to the expected standards. General Motors, popularly known as GM has been a pioneer in the global autoindustry for more than 100 years. Developing from horseless carriages to the latest sports cars, innovations have always excelled at putting the world on wheels. In fact, there are a lot of exciting things to share about the company. GM’s corporation started in 1892 by R.E. Olds, with a solid financial foundation, which enabled him to produce great vehicles for customers and build a bright future for employees, partners and shareholders. GM slowly initiated its staff of experts in the factories which are located in different parts of the globe and acquired the brands like Chevrolet, Pointiac, GMC, Buick, Cadillac(General Motors Corporation, 2015). Leading the way is their tailored leadership team who set high standards for the company so that they can produce the best cars and trucks. This means that GM is committed to deliver vehicles with compelling designs, flawless quality and reliability, leading safety, fuel economy and commercial features. All are intended to create that special bond that can only happen between a driver and a vehicle. General Motors is a customer driven company and aims at earning customers
The new car product is the core of Autobytel’s automotive business. In a nutshell, Autobytel helps customers with making choices about the type of car they want to buy without the pressure of a sales force. Once a customer has determined the exact type of car they want to buy, the service then directs these motivated buyers to participating retailers. In essence, Autobytel has two customers, car buyers and car sellers and needs to work at pleasing both. In order to continue to attract more car buyers, Autobytel needs to focus its marketing and understand the marketing plan’s effect. Not only will this bring more interested
Marketing strategies vary greatly. Although there is no strategy that will fit every business’s needs, there are some guidelines to follow. Before doing anything, make a set of goals within a timeframe. Here is an example:
This marketing report aims to examine and explain the marketing strategies of BMW , In this report I will be focusing on:
The increasing numbers of sub-model cars can also affect the brand quality through increasing any risk issues once launched to the public. Furthermore, according to (Stephen, 2004) Mercedes customers have high expectations about the high quality promised by the company. In 2003, the company disappointed many customers when they sold over 2000 vehicles with an extra option for a navigation system, which were not ready to be delivered at the right time, also accompanied by other mechanical issues. On the other hand, the company made an announcement about its new high quality hydraulic breaking system, which increased its competitiveness in terms of safety and quality against other competitors in the industry.
In terms of sales and marketing, we adapted our strategy based on how the products played in each segment. Our strategy was to spend efficiently in marketing & sales to keep the customer awareness and accessibility high for the premium products, while maintaining a decent level of awareness and accessibility in other segments.
Mercedes-Benz operates on the differentiation strategy. Luxury, prestige and technological innovations drive the company 's production from the high quality small cars and e-bikes of the smart brand, to the premium automobiles of the global corporation.
The company aims to generate profitable growth and above-average returns by focusing on the premium segments of the international automobile markets. With this in mind, a wide-ranging product and market offensive was initiated in 2001, which has resulted in the BMW Group expanding its product range considerably and strengthening its worldwide market position.
Although Mercedes Benz marketing strategy used to focus on safety, precision engineering of its cars and safety, they had to make sure that the Mercedes’ cars would suit the customers’ changing attitude. Now, they focus more on fun loving, energetic and approachable side of Mercedes Benz in their marketing. When its market expanded this caused an evolution in its marketing strategy. Mercedes Benz has found that they have to expand their market by including younger customers. Slicing prices to make the product more affordable was one of the marketing strategies also.
The development of marketing concept from a Product orientation to a Sales orientation and finally a Marketing orientation has signified an important change in how we understand and conceptualizes marketing in the 21st century. It signified an increased focus in the behavior of consumers and how by applying different marketing strategies organizations have been able to influence the way in which consumers react to their potential needs and how marketers can change their strategy to target different consumers wants. An assessment has been made in this essay looking at the development of the Volkswagen (herein referred to as VW) polo hatchback model.
Mercedes doesn't only seek for horse power & top speed , it also seeks for taking care of engineering and designing parts . It's a joyful thing to ride a fast car that can go from 0 to 70 in 50 seconds but your car won't be a good performer unless all it's parts are taking a good care in their details .
However, due to its unique targeting strategy, it has not win compatible brand recognition among the public. Although Audi enter much earlier than BMW and Benz in the luxury car market, its marketing strategy limited increase of public brand recognition even Audi has over 100 years’ history. Besides, although its styles are highly accepted by the targeting customers, there are a growing number of people who can afford luxury cars for family use in China. Lack of vitality is limit of its further market expansion. On the contrary, its major competitor in China, BMW, has launched a series of marketing strategies to promote its high-performance, manoeuvrability, as well as stylish design to attract young people (BMW, 2009) in order to expand its market share. Therefore, although Audi has achieved success in the targeting market, it may consider further development through diversification in product line and advertising campaign.