Cartier Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Cartier analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Cartier marketing mix, help the brand succeed in the market. Let us start the Cartier Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Cartier Product Strategy:
The product strategy and mix in Cartier marketing strategy can be explained as follows:
Cartier has a high end of products which are mainly in the domain of watches and jewelleries. This is the company which make customized products for the niche customers and they also designs high end products which are of top notch and are of high quality. The products in the Cartier marketing mix ranges premium from rings, bracelets, necklace, earing & brooches, watches etc. Cartier also has made the other products available to the people like the special end collections like the Panthere, Tutti Frutti, Cartier Diamonds. These are the high end collections of the company which has a significant impact on the image of the company.
The design are unique and they make sure that these products are of great quality. The watch segment also have a lot of different kinds of watches. Cartier have men and women watches, which are also classified into different categories. The company has started diversifying the products into other segments like Bags, leather goods, fragrances, eye wears, cufflinks, lighter, keychain, writing instruments, belts, etc.
Image: pixabay
Cartier Price/Pricing Strategy:
Below is the pricing strategy in Cartier marketing strategy:
Cartier has a particular set of customers whom they target to. The marketing mix pricing strategy of Cartier is focused towards the affluent class and the prices are driven by quality, competition offering and type of product.
They make sure that the targeted set of customers are satisfied with the products. We find that the products are priced fairly high. The main reason of this is that the products are customized and even if they are not then the price of the products are already due to the high quality of the material. They are of top notch when the quality comes to play. Cartier makes sure that they have a happy customer base. The user of the products are the high end people of the society. They have also gift vouchers which gives a certain kind of reduction in price to the people when they are buying. There are few products which are new ventures of Cartier which are priced low compared to the other products of the company. This is done to capture the market which they are trying to venture into.
Read more about Cartier
Cartier Place & Distribution Strategy:
Following is the distribution strategy in the Cartier marketing mix:
Cartier has made its products available at the places which are at different areas of the world. They carried out the market survey to find out which areas do their targeted customers visit most frequently. The company, as we realized, have a very specific group of customers to whom they crater to. The people are more brand based than the product, as they themselves know. Thus Cartier has set up its outlets at the areas which are nearer to the areas where they tend to find the customers more like the posh areas of New York, Paris, London, etc. to name a few. They have also made sure the people can access their products through the internet.
Thus internet is a way for the people to shop these products by sitting in their home.
Cartier Promotion & Advertising Strategy:
The promotional and advertising strategy in the Cartier marketing strategy is as follows:
Cartier is a name for itself. People are aware of the brand through the word of mouth about the company and the quality of products which they have to offer. The promotional strategy in the marketing mix of Cartier focuses on comprehensive marketing through various channels. The company also promotes in the way of press like publication in Vogue, India Today, Femina, Business Today, etc. These are the consumer publications. The Trade magazines are also used to promote the company like outlook, business today, etc. The company also goes through the television ads which are done in order to make sure that the targeted people are achieved. Cartier advertises through the shows which shows the new products which are there in the market. Online marketing is also done to make sure that the people are aware of the company. They make sure that the people have an idea of the products of the company. This covers an overview of Cartier marketing mix.
About Cartier:
Cartier is a French luxury goods company, which is into designing, manufacturing, distributing and selling of the jewellery and watches. This French company was founded in Paris in the year 1964. The company was under the family control till around 1965. Cartier always targeted the high end customers. Their customer base is huge. The company has always targeted the customers who are at the higher end of the society. They had a target base of the royal families. This customer base is still maintained. They take pride in the quality of the product they offer to the customers.
This in a way makes sure, that the targeted segment always stays with them, which is purely on the basis of the products quality. Cartier serves the royal courts of Spain, Portugal, Egypt, Belgium, Serbia, 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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