Marketing Strategy of Maserati analyzes 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 Maserati marketing mix, help the brand succeed in the market.
Let us start the Maserati Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
In this article:
The product strategy and mix in Maserati marketing strategy can be explained as follows:
Maserati is known for designing high performance superior despite the fact that it is into third party merchandising. It operates in the luxury segment and produces high quality products. The pull of the brand is excellent and each and every car in the series that Maserati produces is unique in its style and characteristics. Cars range from sedans, to sports cars to racing vehicles. Some super-sport models like the Mc12 are popular with the newer generations, who see Maserati as a symbol of excellence and exclusivity.
Some of the most popular selling products in its marketing mix include Quttroporte, Ghibli and many more on the list. The services segment of Maserati is a little slow in the sense that Maserati does not offer any services except free maintenance within six months of purchase of a new car and post that any sort of service requests are entertained by Maserati appointed dealers who directly communicate requirements and outsource material from the company. The vehicles that Maserati produces are known not only for the neatness in curves and sharp designs but also for the vibrant colour offerings which are available for purchase. The interiors of Maserati have been rated superior time and again by magazines and reviewers over the years.
Below is the pricing strategy in Maserati marketing strategy:
Owing to the superior brand offering and the style quotient and exclusivity associated with the car, Maserati is priced at a premium rate that starts upwardly of 115,000 Canadian Dollars. The cars pose as a great investment because the value of the cars in the market just keeps on appreciating.
The feeling of desire is created within the customer through the promotional mechanisms and product offering of Maserati. This want allows the company to charge a premium price as a part of its marketing mix pricing strategy. The prices however also vary a lot depending on the model of purchase or the functionality that the customer adopts. Added functionality accounts for added money that the customer needs to shell out from his pocket owing to specialization. Because of the high price of owning the car, the cost associated with maintaining and repairing the vehicle is also extremely high to provide an offering which is of a competent quality as the product they own.
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Following is the distribution strategy in the Maserati marketing mix:
Maserati has exclusive dealership rights spread across nearly 25 countries with plans of expanding their business lines to many more as part of their geographical expansion initiative. Maserati also has manufacturing facilities in a number of different countries. They also have a dealer based network to boost the sales of the company. Maserati does not prefer going through showroom dealers because the investment involved in this process is extremely high and the margins are very low for showrooms.
Even though such an arrangement is in place, distribution and supply of spare parts and maintenance tools are done through a distributor based model across the globe to simplify operations.
The promotional and advertising strategy in the Maserati marketing strategy is as follows:
Maserati has been historically known to promote itself well through top-notch television commercials, print advertisements, out of home advertising and online advertising. Most of the advertisements focus on the interiors of the car, the functionality of components, reliability and durability of the engine and the class and exclusivity associated with owning a Maserati. The company through its expansive promotional plans has planned to increase its standing in the social media state to deliver global Maserati news, international sponsorships and car racing information and details to the customers. The company is also considering, expanding the advertisement campaigns by investing heavily in bill boards and TV commercials. MaseratiStore.com is the online store for Maserati. Through the store, the company engages in selling accessories related to driving a sports vehicle and in particular Maserati products. Maserati has also launched an iOS application for Iphones and IPads that lets customers experience what Maserati is all about from a first-hand account. Maserati throughout history has been associated with a number of sporting events including formula 1, sports car racing and touring car racing as a works team and as private entries to the competition as well.
Hence this concludes the marketing mix of Maserati.
Established in early 1914, as a manufacturer of motorcycle and aeroplane engines before moving onto the category of cars, Maserati has for many years been in the top league of the car manufacturers across the world. The company tagline is “Luxury, sports and style cast in exclusive cars.” The output capacity of the company is immense, it is known to produce 75,000 vehicles annually 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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