Bosch Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Bosch analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Bosch marketing mix, help the brand succeed in the market. Let us start the Bosch Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Bosch Product Strategy:
The product strategy and mix in Bosch marketing strategy can be explained as follows:
Bosch has a diverse product portfolio. The products in the marketing mix of Bosch can be explained on the different offering in the following categories:
• Mobility : Bosch Service, Auto parts and accessories, Automotive technology, Workshop world, eMobility Solutions, eBike Systems
• At home: Power tools for DIY enthusiasts, Garden tools, Household appliances, Heating and hot water
• Industry and Trade: Power tools for professionals, Sensors for consumer electronics, Security systems, Packing technology, BPO Solutions, Customer Interaction Services and Consulting
• Software Solutions: Bosch loT Suite, Business Rules Management, Business Process Management, Industry Solutions
Image: Wikimedia
Bosch Price/Pricing Strategy:
Below is the pricing strategy in Bosch marketing strategy:
Bosch follows different pricing strategy for different product categories, which is analysed in the Bosch marketing mix. For OEM customers, the prices are fixed depending on the relationship with the customer and also the quantity of products bought by the customer.
It also depends on the bargaining power of the customer and how important it is for the company. For home appliances, Competitive Pricing Strategy is followed to compete strongly with the other big competitors in this segment. Bosch products are of premium quality and are aimed at middle and upper middle class customers.
Read more about Bosch
Bosch Place & Distribution Strategy:
Following is the distribution strategy in the Bosch marketing mix:
Bosch has manufacturing plants in different countries. The manufactured products are then distributed to Bosch dealers and other retailers who sell Bosch products. Bosch is also an original equipment supplier to various industries. Being in the market for many years, it has developed an excellent supply chain. The manufactured parts and components are distributed to various OEM customers who assemble these parts to make the final product. Bosch also make home appliances which are distributed to independent Bosch dealers and also to other retailers who sell Bosch products.
On its website, there is a feature to locate stores and Bosch offices which its customers can use to find the nearest Bosch showrooms to them.
Bosch Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bosch marketing strategy is as follows:
The promotional strategy in the marketing mix of Bosch can be explained through various marketing activities as below:
• Sponsorships: Bosch has been sponsoring Ashwa Racing, Bosch sponsors Hardware Cup, signs Deal with Modernism Week
• Social Media: Bosch has a global Facebook page where it updates all its latest innovations and other related events and activities. It also has a You Tube channel where it comes with creative videos to engage with the customers.
• Sales Team: Bosch has a skilled and knowledgeable B2B sales team which pitch its products and services to corporate clients.
• Bosch Coupons and Promo Codes
• Offers: During peak festive seasons, Bosch offers discounts on its home products.
• TV Advertisements: Bosch comes with creative TV advertisements which focus on the premium quality and durability of Bosch products.
Hence, Bosch marketing mix is summarized as above.
About Bosch:
Bosch is a German engineering and electronics company located in Germany. It was founded in November 1886.
Bosch has more than 300,000 employees and it annual revenue is more than 70 billion euros. The major competitors of Bosch are Delphi Automotive systems, Visteon Corporation, Molins public limited company among others.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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