Marketing Strategy of Bentley – Bentley Marketing Strategy: Since 1998, Volkswagen AG has been a subsidiary of the British luxury car and SUVs manufacturer Bentley Motors Limited.
It was established in 1919 by H. M. Bentley. Rolls-Royce Limited acquired it in 1931. Vickers Plc then acquired it again in 1980. In 1998, the Volkswagen Group took over the company.
To prove its outstanding performance, the company has won many races victories. These victories were highlighted by five wins at Le Mans from 1924 to 1930, and one-sixth in 2003.
Bentley At A Glance – Marketing Strategy of Bentley
Company : Volkswagen AG
CEO: Wolfgang Dürheimer
Founder: W. O. Bentley | H. M. Bentley
Year founded: 18 January 1919, Cricklewood, London, United Kingdom
Headquarters: Crewe, United Kingdom
Annual Revenue: EURO€3.2 Billion
Profit | Net income: EURO€1.1 Billion
Number of employees : 3,800
Products & Services: Automobiles | Commercial Vehicles | Financial Services | Automobile Repair | MicroStation | ProjectWise | AssetWise
Bentley Fun Facts: In 2002, Bentley created an official armored state-car, the Bentley State Limousine, for the occasion of Queen Elizabeth II’s Golden Jubilee.
Marketing Strategy of Bentley
Bentley’s 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 Bentley? Let us discuss.
Segmentation, Targeting, Positioning – Bentley Marketing Strategy
To identify the elements that will ignite passion and challenge the status quo, the brand uses a combination of demographic as well as psychographic destination strategies.
The company focuses on the premium segment and therefore uses a selective targeting strategy to appeal to that segment.
Proper positioning allows the brand to communicate what it stands for in consumers’ minds. Bentley uses a value-based positioning strategy to emphasize the tangible benefits, pride, and satisfaction of owning the company.
Bentley Mission Statement
“To build a good car, a fast car, the best in Class”
Bentley Vision Statement
“To the world in diverse and exciting ways”
“The Silent Sports Car”.
Competitive Advantage – Marketing Strategy of Bentley
Rich Heritage: The 98-year-old has been a key player in maintaining its relevance and governing the premium passenger car segment. This includes some of its historical models, such as the Bentley 4 1/2 Litre, Bentley R Type Continental, and Bentley Arnage, but also its current model, which includes the Continental Flying Spur and Bentley Bentayga Continental GT.
The broad product range: The company has a wide selection of popular models in its product portfolio, which helps it to be competitive with its peers.
A subsidiary of Volkswagen: Bengal became a subsidiary of Volkswagen, which in turn is the owner of some of the top car brands in the world. He has helped to create an efficient ecosystem and support system that is helping the company be competitive with its peers.
BCG Matrix – Bentley Marketing Strategy
The Company is present in the Sedan ad SUV segment.
The sedan segments include brands like Continental GT, Mulsanne, and Flying Spur, while the SUV segment includes the brand Bentayga.
The segments where the Bentley operates include Stars in the BCG matrix.
Distribution Strategy – Marketing Strategy of Bentley
It has service, sales, and pre-owned outlets located in major cities around the globe. It distributes its cars through various networks, including resellers, distributors, and sites. The brand delivered 11,023 vehicles to customers in 2016, compared to 10,100 in 2015.
The success of the Bentayga, the new SUV car that Bentley introduced in 2016, is the main reason for the increase in sales.
Brand equity – Bentley Marketing Strategy
Since its inception, the Bentley has been closely linked to the Hollywood film industry. He has appeared in many films, including 2012 James Bond movies, Doomsday and Fifth Gear.
The brand is also associated with many sports events like the Blancpain GT Series Endurance Cup 2016, British GT Championship 2017, and others which have helped increase the brand’s visibility in the market while outlining its outstanding technicalities and exceptional performance alongside its stunning design.
Competitive Analysis – Bentley Marketing Strategy
Bentley has a 37% market share in the super-luxury car market. In 2016, around 51% of all Bentley cars were delivered in Europe/ Other markets. 25% of deliveries are made in North America, while 24% are made in the Asia-Pacific.
The brand is competitive with Rolls-Royce and Aston Martin, Mclaren and Bugatti, Lamborghini, Ferrari, and many other companies.
Market Analysis – Marketing Strategy of Bentley
The market is expected to grow in the next few years with a 16-17% increase in consumption of Luxury and premium car demand.
The industry’s growth is driven by a changing lifestyle and rising demand for luxury cars in Asia, especially in China. There has also been a 30-35% increase in sales of luxury products. The companies in this sector are driven by the technical knowledge of their suppliers, the Breach of Patents, and rapid changes in technology.
Customer Analysis – Bentley Marketing Strategy
The billionaires who have purchased Bentley products are those between the ages of 40 and 60. These customers are extremely wealthy and have a passion and dedication to leading a more luxurious and elegant life.
The Bentley cars are used in 7-star hotels and for wealthy customers at exotic locations in the B2B segment.
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