General Motors Marketing Strategy – Marketing Strategy of General Motors: The General Motors Company is a pioneer in designing, building, and selling cars, trucks, and crossovers worldwide. It was established in 1908 and is America’s largest corporation.
To support its mainline business, the company also offers financing services through General Motors Financial Company, Inc. It works with brands like Cadillac and Buick, Chevrolet. Maven, Onstar. Faw Jiefang. Holden.
General Motors At A Glance – Marketing Strategy of General
Company : General Motors
CEO: Mary Barra
Founder: Frederic L. Smith | Charles Stewart Mott | William C. Durant
Year founded: September 16, 1908, Flint, MI
Headquarters: Renaissance Center, Detroit, Michigan, U.S.
Annual Revenue: US$122.485 billion
Profit | Net income: US$6.427 billion
Products & Services: Automobiles – Automobile parts – Commercial vehicles
General Motors Competitors
Competitors: Ford Motor Company | Tesla Motors | Chrysler | Toyota | Honda
General Motors Fun Fact: GM was responsible for creating the Lunar Roving Vehicle, aka the Moon Buggy, which was successfully used during the Apollo 15 mission.
Marketing Strategy of General Motors
General Motors Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of General Motors? Let us discuss.
General Motors Marketing Strategy – Segmentation, Targeting, Positioning
Segmentation helps to identify similar groups and their attributes. General Motors uses demographic and psychographic segment strategies that include variables such as income, gender, marital status, and region.
General Motors has a huge brand portfolio. Therefore, it uses a differentiating strategy.
General Motors positions its offerings based on advanced technological capabilities, features, and design. This helps the brand to create value and high brand recognition in the minds of potential customers.
General Motors Mission Statement
“To care about a customer, not just when they purchase a new vehicle, but for as long as they own the vehicle”
General Motors Vision Statement
“To Earn Customers for Life”
General Motors Tagline
“Find New Roads,”
General Motors Marketing Strategy – Competitive Advantage
Research and intellectual properties:
To be a future-ready automobile company, the company has spent a lot of time working on on-demand mobility services and greenhouse gas emission control systems.
The brands and the group’s competitive position vary from country to country. This is covered under the business segments of GM International, GM North America. The group’s cars are distributed throughout Asia-Pacific, Europe, America, and the Middle East.
General Motors Marketing Strategy – BCG Matrix
The operating segments that the company operates in the Market include GM Financial, GM International Opera (GMIO), GM North America, and GM South America. However, GMSA is now part of GMIO. GM financial also has financing and support roles.
Because of its strong position in market stars in the BCG matrix, it is a business in the segment GMNA. While others are the question mark.
Marketing Strategy of General Motors – Distribution Strategy
The Company distributes its automobiles and parts via the global network of independent authorized retail dealers.
These outlets can be described as distributors, dealers, authorized sales/service, and accessories outlets.
The company has been reducing losses and exiting certain countries, such as India, in recent times.
There are 4809 authorized dealers under GM North America, and 7641 under GM International.
General Motors Marketing Strategy – Brand equity
General Motors was ranked 40 th on the Forbes list of Global 2000 companies (as of May 2017). According to the market capitalization value method, the brand is worth $ 50.8 billion and generates revenue of $166.38 million.
General Motors has won many awards and praises over the years. These include Chevrolet Bolt EV being listed on WardsAuto 10 Best Engines List (2018), Kelley Blue Book Best Resale Valu Awards for Chevrolet Trucks (2018) (GMC Wins Most Refined brand), IHS Markit Loyalty Award, GMC Wins Most Refined Model (2018), etc.
Marketing Strategy of General Motors – Competitive Analysis
In the markets, vehicle design, fuel economy, and available options are the primary factors that influence consumer vehicle preferences.
It is in direct competition with Toyota, Suzuki, Honda, Hyundai, Tata, and Volvo in one or several product segments.
General Motors Marketing Strategy – Market Analysis
The industry is being affected by slow economic development, credit constraints, government regulations, and carbon emission, as well as brand acceptance.
Companies in this industry are experiencing growth due to rising import tariffs, increased suppliers and customers’ bargaining power, government changing regulations, changing lifestyles, rising middle class, and the potential in emerging markets.
Marketing Strategy of General Motors – Customer Analysis
It operates in the B2C as well as B2B segments. It distributes its Cars, Trucks, and related parts to individual customers in the retail segment. The majority of its customers are between 30-50 years old.
It also sells its offerings to fleet customers and fleet customers in the B2B segment.
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