Marketing Mix of Bosch analyses the brand/company which covers 4Ps (Product, Price, Place, Promotion) and explains the business & marketing strategies of Bosch.
Let us start the Bosch Marketing Mix:
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
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.
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.
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.
Bosch is a German engineering and electronics company located in Germany. It was funded on 15 November 1886. Volmar Denner is the current CEO. Bosch has around 3,75,000 employees. Its revenue in 2015 was 70.6 billion euros. The major competitors of Bosch are Delphi Automotive systems, Visteon Corporation, Molins public limited company among others.
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