General Motors Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: September 04, 2021
Marketing Strategy of General Motors analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on General Motors marketing mix, help the brand succeed.
General Motors marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the General Motors Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
General Motors Product Strategy:
The product strategy and mix in General Motors marketing strategy can be explained as follows:
General Motors is one of the largest auto manufactures which delivers a wide array of vehicles and brands. The company allows its customers to customize their vehicle by providing them the latest offers and accessories. GM offers diverse range of products globally under its brand name. It helps company to target customers from different markets. General Motors has the following brands: GMC, Chevrolet, Buick and Cadillac. GM targets middle- class consumers with its Chevrolet range and for wealthy buyers GM offers vehicles under Cadillac. GM build its product focusing on high quality, advance technology, creative designs and affordability. The General Motors company focuses on building vehicles with high standard engineering. Other than vehicles GM offers a range of after sales services such as maintenance, lights, repairs and accessories. General Motors finance provides lending, loan, lease, and other credit services. GM offers new and used vehicle inventory financing, inventory insurance, working capital and loans as well. This covers the products in the marketing mix of General Motors. During the 2020 pandemic, General Motors also used their technology to manufacture life saving ventilators.
Image: company website
General Motors Price/Pricing Strategy:
Below is the pricing strategy in General Motors marketing strategy:
General Motors focuses on developing highly efficient, advanced and high quality products.
The pricing strategy in the marketing mix of GM is basically based on quality, type of vehicle, geography being served and competitor pricing. Prices of vehicles varies depending on the choice of brand and features. GM offers vehicles to all over world and to different segments of the consumer market. The offerings are affordable for middle-class customers and the offerings range till luxury cars. General Motors’s competitive strategy helps in building reputation of its brand. Value pricing for its product helps General Motors to attract customers in Asia. For instance, Chevrolet use mid stature pricing for its product, whereas Buick offers luxury vehicles which are offered at a higher price range. GM also offers financial services to its customer. The price range for General Motors' cars are between $20,000 and can go up to $120,000 for premium sports cars.
Following is the distribution strategy in the General Motors marketing mix:
General Motors serves in 6 continents across different countries s with diverse and dedicated workforce. GM delivered approximately 10 million vehicles globally in a single year. With a strong network of 20,000 dealers selling vehicles in more than 100 countries, General Motors has a strong global presence. GM sells its vehicles directly or through its network of dealers. The production operations take place in more than 30 countries worldwide.
The reach of General Motors is across the globe and the brand is known worldwide not only for its products but also for its after sales services.
General Motors Promotion & Advertising Strategy:
The promotional and advertising strategy in the General Motors marketing strategy is as follows:
General Motors promotional strategy in the marketing mix can be explained as a comprehensive marketing and advertising model to gain strong brand awareness worldwide. GM promotes its products using social media platforms, TV ads, celebrity endorsements, Print media. General Motors reaches targeted customers by promoting its vehicles at auto fairs. At auto fairs company offers test drivers to create curiosity among customer for their new product. Experts and journalist deliver verdict in articles which are published in GM magazines. General Motors magazines too publish auto related articles and reviews. The brand has also adopted digital marketing and ensured of having a strong online presence via social media channels, vide content and online ads. GM focuses on developing innovative solutions for the environment by designing fuel-efficient vehicles. GM foundation supports health and human services. As a part of their corporate citizenship the company also supports education. This conclude the General Motors marketing strategy and marketing mix.
About General Motors:
General Motors is a US-based firm which is globally offering automobiles with a single purpose of earning and retaining customers for a lifetime. GM headquarters are in in Detroit, US. The company designs, manufactures, markets and distributes vehicles and automobile parts. General Motors also offer financial services to its customers. GM produces vehicles in 30 countries and serves in approximately 100 countries. GM has nearly 396 facilities on six continents across the globe. GM serves worldwide except a few countries which include Cuba, Iran, Sudan, Syria and North Korea.
In addition to these brands, General Motors holds 20% share in IMM and 70%+ in GM Korea and many other ventures in China, Russia, Pakistan, Egypt, and South Africa. GM has more than 100,000 employees and the brand has a strong presence across the globe.
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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