Marketing Plan of Bentley Motors Limited Essay Example

terms of core competency, Bentley Motors seeks to use its uniqueness to provide sophisticated and distinctive, high-quality luxury cars and other products that appeal to its target customers. In order to use its core competency as a sustainable competitive advantage, Bentley will work with its customers and employees to strengthen the relationships and build bonds to satisfy the high tastes of its clientele.

Situation Analysis This situation analysis will show how Bentley is growing larger in the market. Globally Bentley sold just over 10,000 cars in 2007 – compared to 9,000 cars in 2006 and 1000 in 2003.

SWOT Analysis Figure 1 shows some characteristics that might influence the market opportunities for Bentley Motors. The SWOT emphasizes the good choices made by the company. Positive internal factors are related to the board, the management growth, the intrinsic value of the brand associated with the high-end luxury car. Favorable external factors include the increasing need for luxury goods in the environment. A note to consider is that the financial crisis of 2007 did not affect Bentley’s clientele. Regarding unfavorable factors, the main weakness is the limited growth in the market.

Due to the outstanding care and attention given to the production of each Bentley car, the production is slowed down as each car is hand-made. However, this limited production is perfect for Bentley’s marketing plan. Industry Analysis Every human wants to differentiate themselves from one another.

One way of doing so is by purchasing luxury goods. Therefore the market for such goods is bound to grow. In comparison to other high-end luxury vehicles, Bentley is growing more than the others. Competitors in the Luxury Car Market As shown in figure

2, the main competitors of Bentley are; Rolls Royce, Ferrari, Maserati, and Porsche. Company Analysis Bentley is highly recognized for their luxury cars, but they also sell goods that reinforce the image of their brands, such as silver plated wheel spinners, cufflinks, set of espresso cups, driving apparel, and luggage sets among a few.

Product Market Focus This section describes the marketing and product objectives for Bentley Motors and their target markets, points of difference, and positioning.

Marketing and Product Objectives Bentley Motors' marketing is based on the effort to combine the strength and speed of a sports car with the luxury of British elegance. These are combined in the 3 areas listed below.

1. British Tradition
2. Manufacture
3.  Luxury and Sport Target Markets The primary target market for Bentley cars are customers who are not self-conscious and are willing to show what they have earned, these are generally those in the highest 5% of the economy. These customers want premium quality products and services and are willing to pay for them. Points of difference

Bentley’s marketing is concentrated on the fact that they have the sophisticated British charm, mixed with the strength of a premium racing car. This is the main difference when compared to Rolls Royce, which looks at itself as a luxury car, or with Ferrari that defines itself as a sports car. Positioning Bentley’s vehicles try hard to close the gap between being a traditional British sophisticated luxury vehicle and a sports car with strong masculine power, which is best shown with its 6-time success at Le Mans.

Marketing Program The 4 marketing mix elements used by Bentley Motors are detailed below.

Product Strategy Bentley’s are handmade, custom-designed

cars. It takes roughly 150 hours to produce a Continental GT and 400 hours to build an Arnage. Steering wheels are double-stitched by hand using 2 needles simultaneously. It takes 15 hours to create one steering wheel. These are a few features of Bentley’s to name a few. Price Strategy The 2011 Bentley Continental is priced at around $205,600, while the 2011 Maserati Gran Turismo is priced at an average of $125,000. Even though the Maserati is much less priced, the quality that Bentley holds is much greater. Promotion Strategy

Bentley avoids commercializing its products unlike Maserati, therefore making it more prestigious. Bentley places its advertisements in places where they expect their target market to see it, not in commercial places. Bentley also goes by word of mouth, where one satisfied customer passes on the good word to a friend. Distribution Strategy Bentley prides itself on being represented in 212 Bentley facilities worldwide. With 24 offices in the UK, 38 in the USA, 52 in Europe, 15 in the Middle East, and 15 in Asia and Australasia, among others. Therefore with 212 facilities worldwide, it is within arm’s reach – for those who can afford it.