Subaru Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Subaru analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Subaru marketing mix, help the brand succeed in the market. Let us start the Subaru Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Subaru Product Strategy:
The product strategy and mix in Subaru marketing strategy can be explained as follows:
Subaru is one of the most well-known car brands in the world. Subaru being the prime manufacturer of luxury cars makes many varieties of cars each with different style and look. Subaru’s product width in its marketing mix currently consists of 30+ models of BRZ, Impreza, WRX, Legacy, Forester, Crosstrek and Outback. Each Subaru product is further subdivided into different sub categories such as Premium model and limited model with varied features. Also, each product of the same category has got different prices. Subaru also manufactures cars for motor sports and racing events.
In such cases, they modify their existing catalogue of products with new look and enriched power and performance. At times, Subaru even come up with hybrid model of cars which is specially designed of motor racing only. Such cars are not featured in their product portfolio. Its products also vary depending on the fuel used. It manufactures cars with diesel engine, petrol, and electric engine.
Image: Wikimedia
Subaru Price/Pricing Strategy:
Below is the pricing strategy in Subaru marketing strategy:
Subaru prices its products very closely across variants in its marketing mix. Thus, Subaru plays a psychological game in the minds of the customers, which makes them to think on a bigger trade-off with the price with performance and luxury.
The price of Subaru BRZ product line costs around $25500 to $27600 for premium and limited editions respectively. The range of Impreza is from $18400 to $25600. The WRX models prices vary from $26700 to $40000. The cost of Legacy line of cars comes around $22000 to $31700. The price of Subaru Forester, which is their Sports Utility Vehicle variant ranges from $22600 to $34300 for the high-end models. Crosstrek comes around $21000 to $25000. The Outback; which is their premium portfolio cars, the price ranges from $25700 to $38200. Implementing differential pricing model helps Subaru cash in the paying capabilities of their customers at different levels.
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Subaru Place & Distribution Strategy:
Following is the distribution strategy in the Subaru marketing mix:
Subaru cars have a worldwide presence. Subaru products can be purchased from various platforms. Its dealership with various retailers helps them to have a wide reach out with customers. Its products can also be purchased from authorised dealers. Subaru has a good network of dealers and distributors who help customers make easy purchase. The sales team is aggressively associated with the retailers who help customers with proper quotations and detail the cars to the customers, thus helping customers make good and sound purchase decisions. Subaru’s website provides a comprehensive platform where customers can build their own car by detailing the specifications and requirements regarding the same.
Subaru also provides financial assistance while purchase exclusively through its authorised dealers.
Subaru Promotion & Advertising Strategy:
The promotional and advertising strategy in the Subaru marketing strategy is as follows:
Subaru spends a huge chunk of their revenues earned for advertisement and promotional expense. Subaru spends approximately around 3% of their revenues for branding in its marketing mix. Its promotional activities include television advertisements, billboards. Its advertisements can be seen in business websites and sports to grab the attention of customers looking to buy a new car. Building good relation with customers via advertisements is also implemented so as to enhance multiple purchases. Subaru takes part in wide range of Social Responsibility activities where they strive to provide “Enjoyment and Peace of Mind” to customers. Subaru strives to realize sustainable growth as a compelling company with strong market presence. Hence, the marketing mix of Subaru car brand is covered.
About Subaru:
Subaru is an automobile manufacturing company, which is a subsidiary of Fuji Heavy Industries, which is a Japanese multinational corporation mainly involved in aerospace manufacturing. Subaru is headquartered in Tokyo in Japan. Apart from its presence in the Japanese market, Subaru’s overseas operations can be seen in Canada, Philippines, United Kingdom and United States of America. Overall it has got two manufacturing facilities one in Japan and the other in USA. Subaru was founded in the year 1953, when Fuji Heavy Industries launched its first Subaru cars.
It has got partnerships with many of the leading automobile firms, which jointly brings out a car brand with trust and loyalty for its customers. Headed by Yasuyuki Yoshinaga, and with annual sales of ¥3232 Billion, Subaru is a star performer in the automobile industry.
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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