Marketing Plan of Bentley Motors Limited Essay

trade purpose of Bentley Motors Limited 1. Executive Summary 2. attach to Description Bentley Motors Limited is a British Manufacturer of automobiles, founded on the eighteenth of January 1919 by Walter Own Bentley. In the First World War, Bentley was known because of their roundabout aero-engines. After the war Bentley designed and produced cars that won the Le Mans race in 1924, 1927, 1928, 1929 and 1930. Bentley presented Queen Elizabeth II with an official State Limousine to celebrate her prosperous Jubilee in 2002. Bentley believes that it is a naughty end luxuriousness car, which has tradition and supreme class.Bentley follows a higher(prenominal)-price strategy, and this Marketing Plan outline will show how Bentley improves their gross sales and continues to gain a sh ar in the market. 3. Strategic Focus and Plan This section covers three aspects of corporate strategy that determine the marketing invent (1) the mission, (2) goals, and (3) nucleus competence/susta inable competitive advantage of Bentley Motors Limited. Mission Bentley Motors states that they feignt arrest a mission statement but if they did, it would have been in the words of Walter Owen Bentley, To stimulate a good car, a luxuriant car, the beat in class.The vision statement that Bentley Motors Limited follows is, We be Bentley Motors the definitive British luxury car company, dedicated to developing and crafting the spheres most desirable high performance cars. Goals 1. Have a larger market sh ar. 2. Launch a Sports Utility Vehicle (SUV) in the United Kingdom in 2015. The sit down will be base on the Porsche Cayenne, and will be produced in the United Kingdom. The SUV will be priced around GBP 140,000. 3. Become much eco-friendly. 4. Increase sales to 1500 cars, by 2013. nucleus Competency and Sustainable Competitive Advantage In terms of shopping mall competency, Bentley Motors liveks to use their uniqueness to provide civilise and distinctive, high quality l uxury cars and other products that appeal to its target customers. In order to use its core competency as a sustainable competitive advantage, Bentley will seduce with its customers and employees to strengthen the relationships and build bonds to satisfy the high tastes of its clientele. 4. Situation Analysis This space 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 betoken 1 shows some characteristics that might influence the market opportunities for Bentley Motors. The SWOT emphasizes the good choices made by the company. Positive versed factors are related to the board, the management outgrowth, the intrinsic value of the brand associated with the high end luxury car. Favorable external factors include the increasing remove of luxury goods in the environment. A n nonpareil to consider is that the financial crisis of 2007 did not affect Bentle ys clientele.Regarding unfavorable factors, the primary(prenominal) weakness is the limited growth in the market. Due to the outstanding care and attention given to the indemnifyoff of each Bentley car, the production is slowed down as each car is run made. However this limited production is perfect for Bentleys marketing plan. Figure 1 SWOT Analysis for Bentley Motors Internal Factors Strengths Weaknesses Management Excellent and specialise board Owned by Volkswagen, because has to report to Volkswagen. Offerings Unique, high-price and high-end luxury some other competitors like Mercedes, cars.Rolls-Royce, Ferrari and Maserati provide sympathetic products. Marketing The exclusivity of the Bentley Motors brandAs the targeted customers are exclusive, is part of the marketing plan. not many people are aware of the various services and products Bentley Motors provides. Personnel Dedicated to personal discipline of Their workers are so qualified that if one employees, by improving their skillful andemployee leaves they need to spend a lot of business skills. money to evolve and develop another employee. Finance Excellent growth in sales, revenues from To build one car it takes longer than most 2003 onwards. of their competitors, therefore it takes time to riposte revenue. Manufacturing Sophisticated details, like workers A typical mass produced luxury model can be inspecting the leather for insect bites andfinished in 24 hours, but to make a 17 hides of leather are needful to outfit Mulsanne at the Crewe Factory it takes 9 the cabin. weeks. R&D keep efforts to ensure engineering andMost of the competitors have good R&D luxury details for cars.departments as well. External Factors Opportunities Threats Consumers Customers can customize move of the product, Due to the high price of the products, such as requesting certain types of leather Bentley has exclusive consumers and not interiors. many people go and buy a Bentley every so often. Competitive There are a some brands that are that obsessed Mercedes-Benz, Jaguar and BMW produce with having unique luxury products. similar products for a fraction of the price. Technological Bentley recently hired Rolf Frech as its Bentleys competitors have various Engineering Chief. Frech comes from Porsche AG. engineering methods that can produce more efficient cars. Economic During the financial crisis of 2007, Bentleys The targeted customers are a minute targeted customers were still purchasing cars. share of the market. Legal/Regulatory Cars with new reasonable energy (biofuel), ensuring A new law passed, requires some that the power and contortion of the car are not technological change that Bentleys do affected.not have. Industry Analysis Every human wants to differentiate themselves from one another.One way of doing so is by purchasing luxury goods. indeed the market for such goods is bound to grow. In comparis on to other high end luxury vehicles, Bentley is growing more than the others. Figure 2 prodigality car Market Year Sales in U. S Market Brands 2011 2010 % Change Porsche 12,633 12,592 0. 3 Jaguar 9,315 9,748 -4. 4 Ferrari 1,266 1,087 16. 5 Maserati 1,706 1,355 25. 9 Bentley 1,260 954 32. 1 Rolls Royce 255 387 -34.1 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 passing recognized for their luxury cars, but they also sell goods that reinforce the scene of their brand, such as silver plated wheel spinners, cufflinks, set of espresso cups, driving clip and luggage sets among a few. 5. 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 establish on the effort to combine the strength an d speed of a magnetic declination scar with the luxury of British elegance. These are combined in 3 areas listed below. 1. British Tradition 2. Manufacture 3. Luxury and Sport Target Markets The direct 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 it. Points of difference.Bentleys 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 Bentleys vehicles try hard to adjoining the gap between a being a traditional British sophisticated luxury vehicle and sports car with strong masculine power, which is best shown with its 6 time su ccess at Le Mans. 6. Marketing political program The 4 marketing mix elements used by Bentley Motors are flesh out below.Product Strategy Bentleys are handmade, custom designed cars. It takes most 150 hours to produce a Continental GT and 400 hours to build an Arnage. centering 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 Bentleys 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 pas ses on the good word to a friend. dispersion Strategy Bentley prides themselves on being represented in 212 Bentley facilities worldwide. With 24 offices in the UK, 38 in the USA, 52 in Europe, 15 in the pump East and 15 in Asia and Australasia, among others. Therefore with 212 facilities worldwide, it is within arms reach for those who can afford it.