Bentley Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Bentley analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Bentley marketing mix, help the brand succeed in the market. Let us start the Bentley Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Bentley Product Strategy:
The product strategy and mix in Bentley marketing strategy can be explained as follows:
Bentley is one of the leading premium car brands in the world. Along with luxurious cars Bentley has also been very rich in its product portfolio in its marketing mix. The different models of Bentley are: Mulsanne (Mulsanne extended wheelbase, Mulsanne speed, Mulsanne), Flying Spur (Flying Spur W12S, Flying Spur V8, Flying Spur V8S), Continental (Continental supersports, Continental supersports convertible, Continental GT speed, Continental GT speed convertible, Continetal GT, Continental GT convertible, Continental GT V8S, Continental GT V8S convertible, Continental GT V8, Continental GT V8 convertible), Bentayga (Bentayga Mulliner, Bentayga Diesel), Heritage Models (The Bentley Blue train, Bentley blower, R-type continental, S1 continental flying spur, Bentley 3-Litre, Bentley 8-Litre, Bentley Mark V).
The luxury cars are manufactured to satisfy the needs and demands of customers. Bentley racing cars which are in a huge demand, Bentley continental coupe and changes in the design such as sedan, coupe convertible all of these are done according to the consumers need which makes these luxurious products to be more fascinated by the users.
Image: Wikimedia
Bentley Price/Pricing Strategy:
Below is the pricing strategy in Bentley marketing strategy:
As Bentley is a luxurious car so it cannot compromise on the quality of the product. To meet the standard quality of the product Bentley needs to use good quality engines and it requires highly engineered craftsmanship.
So as to cover the cost of expensive raw materials, to recover the high salary of engineers, plus to get its own profit Bentley price is much higher than the cost of normal car. Bentley mainly targets the rich customer segments through its marketing mix pricing strategy who also prefers to have a high quality car on a high payment that is done by them. All the race cars, continental cars, different model cars are made according to the convenience of user, modifications are made in the car according to the consumer’s need. Bentley cars costs from Rs. 3.2 crore to Rs. 4 crore in India and start from $180,000 and go upto $300,000+. Bentley never compromises the quality of their products for the sake of price.
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Bentley Place & Distribution Strategy:
Following is the distribution strategy in the Bentley marketing mix:
Bentley has built up a franchise network all across the world. It sells its cars to the franchising agent who then deliver it to the end consumer. Around 80-85% of the cars manufactured are distributed across the world. This shows the demand of luxurious cars. Bentley has a very good market share in china where with the growing economy there is a huge demand of luxurious cars like Bentley. It also preferred to enter into emerging market in the different parts of the world. Emerging market has a very good scope for Bentley as with the growing economy no.
of rich class people also increases who prefers to have a luxurious car with them which in the end turn out to be huge potential market for Bentley.
Bentley Promotion & Advertising Strategy:
The promotional and advertising strategy in the Bentley marketing strategy is as follows:
Bentley believes more in an ethical marketing rather than extravagant marketing. Bentley believes that if there is no real demand then there is no point of selling cars to the consumers. It uses some of the innovative promotional schemes when it launches its new products. With proper campaigns and advertisement both on TV and internet Bentley makes sure that there new product is reached to their targeted customer. Bentley also uses effective engineering marketing techniques to make its product visible on international scale. Participation in various branded shows also enhances the new Bentley product’s visibility. Hence, this concludes the Bentley marketing mix.
About Bentley:
Bentley Motors is a British company which is known for production of its luxurious and premium cars. Bentley which is a subsidiary of Volkswagen works on the car model from the basic designing then using scientific techniques to manufacture the complete luxurious car which is finally delivered to the respective places. Bentley delivers the car almost in all parts of the world by establishing a franchising network. In this network company sells the cars to the franchising agents or dealers which is then finally reached to the end client. It is the company’s governing power and strategic decisions which has made Bentley so much successful by selling cars in almost all the parts of the world. Bentley covers almost 50% market share in Europe whereas one fourth of the market in North America and Asia Pacific region.
To ride in this luxurious car Bentley has always been considered as a dignity. Some of its competitors who are also known for their luxury cars are Jaguar, Rolls –Royce Motors etc.
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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