Aston Martin Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: December 02, 2017
Marketing Strategy of Aston Martin 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 Aston Martin marketing mix, help the brand succeed in the market.
Aston Martin marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Aston Martin Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Aston Martin marketing strategy can be explained as follows:
Aston Martin is a luxury brand of cars which is known for its styling and performance. Aston Martin cars are highly customizable, allowing the customer to buy something that is exclusive in the automobile sector. The car comes equipped with immense horsepower and luxury that can leave every onlooker turning his/her head to check who is riding this machine. The car as a product screams opulence and deserves attention. Aston Martin’s serve a status symbol and scream out loud that the owner mints enough money to splurge. Because of the high-octane power that the car possess and the looks that come along with it, the car is high maintenance and needs utmost care from the owner. The current range of cars offered in its marketing mix are:
• Aston Martin DB11
• Aston Martin Rapide S
• Aston Martin Vanquish & Vanquish Volante
• Aston Martin V8 & V12 Vantage
• Aston Martin Vulcan
The brand also keeps on coming up with new cars every few years.
Aston Martin Price/Pricing Strategy:
Below is the pricing strategy in Aston Martin marketing strategy:
Aston Martin cars are built to serve the upper and the higher upper class.
The company has a premium pricing strategy in its marketing mix strategy. For this reason, the car has does not serve at a lower price, instead it values itself to a point where only the kind of customer can buy it who does not have to think twice before purchasing a car. The customers for Aston Martin are obviously high-street individuals, CXOs, CEOs, etc. This is because the starting price range is about $140,000 (Rs.90,00,000 approximately in India).
Following is the distribution strategy in the Aston Martin marketing mix:
Aston Martin is a global automobile brand which has its presence spread globally. To maintain the brand image Aston Martin showrooms are located at rich locations where only the target audience come to shop. Moreover, Showrooms are placed in a way that the customer has to make some efforts to reach one, making an expression that you need to earn this ride, it won’t just fall into your lap. Store managers wish to avoid customers that are on a window shopping spree and have only come to witness at the cars.
When a potential customer arrives, store employees make sure it is a complete experience for him/her.
Aston Martin Promotion & Advertising Strategy:
The promotional and advertising strategy in the Aston Martin marketing strategy is as follows:
Aston Martin’s sales have been facing stiff competition from other luxury car makers. They plan to re-invent themselves and design more cars that appeal to a younger audience and women too. To increase it’s sales Aston Martin is adapting to the current trends such as the Aston Martin merchandise that include keychains, etc. They also advertise their product in print media and also in popular magazines. They also have a strong online presence as they also use social media to share photos and details of their new and upcoming cars and also to share the experiences of it’s owners. It also advertises about it’s product on the FM and Radio. Hence it concludes the marketing mix of Aston Martin.
About Aston Martin:
Aston Martin was founded in 1913 and is a well-known luxury car brand. Aston Martin cars are both luxurious and sporty. The brand has only sold around 70,000 cars in its lifetime and that is what makes it so exclusive for its customers. Aston Martin vehicles are specifically made for the elite customers that love power in behind the wheel, love opulence and like to maintain a status in the society. Aston Martin combines all of these elements perfectly into the designs of their cars and serves its customers with at an exorbitant price that digs deep into somebody’s pocket. Aston Martin also has a strong pop culture presence through its partnership with the James Bond franchise. Many of the brand’s cars have been featured in multiple James Bond movies.
An Aston Martin was specifically designed for a Bond film (Skyfall). Only 10 of that particular were manufactured and this has led to a huge publicity of the brand.
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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