Mercedes Benz Marketing Strategy – Marketing Strategy of Mercedes Benz: Mercedes-Benz is a member of German automobile manufacturer Daimler Inc. and is globally operating through subsidiaries of the parent company or as a standalone. Its high performance and top-quality vehicles produced by Mercedes have assisted the company in selling 18,80 100 vehicles worldwide in 2015. This German automaker is among the biggest (volume) selling automakers around the globe. It has a broad presence in all categories, from SUVs to sedans sports cars.
Mercedes Benz At A Glance – Marketing Strategy of Mercedes Benz
Company : Mercedes Benz
CEO: Ola Källenius
Founder: Karl Benz
Year founded: 1926
Headquarters: Stuttgart, Germany
Annual Revenue: 98.6 billion euros
Profit | Net income: 5 billion U.S. dollars
Number of employees : 173,000
Products & Services: Automobiles, Light commercial vehicles
Mercedes Benz Competitors
Mercedes Benz Fun Facts: Jellinek named the new cars after his daughter, Mercédès Jellinek, whose Spanish name translated to “mercy.” The company later went on to have the “Mercedes” name trademarked 1902. While the company continued to trade as Daimler-Benz, the car line began to carry the Mercedes-Benz name.
Marketing Strategy of Mercedes Benz
Mercedes Benz’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 Mercedes Benz? Let us discuss.
Segmentation, Targeting, Positioning – Mercedes Benz Marketing Strategy
Mercedes categorizes its luxurious and modern cars based according to a mixture of demographics, Psychographics, and Behavioural variables. It is targeted at those from the upper-class social strata, professionals, and Executives who tend to gravitate toward the latest technologically equipped cars, with more security, more style, and more effectiveness. It is a differentiating targeted method is employed by Mercedes to draw customers and meet their desires.
It targets young drivers who are driven and cars reflect what they represent, their style statement, and fashion.
positioning itself with an emotional attraction and creating awareness of being top of mind has led to the company becoming one of the leading luxury vehicle makers in the world.
Mercedes Benz Mission Statement
“Lead in the Innovation and Delivery of the Brand’s Customer Experience through Amazing People and Amazing Service.”
Mercedes Benz Vision Statement
“Our vision is simple, yet ambitious. We want to be the first-choice provider of financial services for our customers and dealers in partnership with our automotive brands”.
Mercedes Benz Tagline
“The best or nothing”.
Competitive Advantage – Mercedes Benz Marketing Strategy
The company’s strong corporate parent Daimler Inc. which has numerous different product ranges (E.g. public vehicles, trucks, and vans) along with the business unit, such as Daimler Financial services have helped Mercedes in different areas in its establishment and received assistance from them concerning technological support and management, financing for Dealerships.
Mercedes has begun aligning its sales and marketing plans to meet the needs of customers i.e. they are shifting from being focused on products to a customer-centric organization designed to provide personalized services to customers that reflect what they are looking for in their lifestyle.
Mercedes have 38 facilities, of which 23 (9 Vehicle plant as well as 9 powertrain plants and five car assembly plants) around the world are owned by the company. The majority of the plants are located in strategic areas that aid in their efforts to target the emerging nations, while at the same time they keep their operating expenses under control.
BCG Matrix – Mercedes Benz Marketing Strategy
Mercedes A-class, B-class C-class, SUVs, Sports cars, and smart automobiles (introduced in certain markets) are a hit within BCG markets. These models are aiding BCG to become the leader in most markets.
Mercedes S-class and Mercedes E-class are not as well-known and, therefore, are the question mark on BCG’s matrix. BCG’s matrix.
Distribution Strategy – Mercedes Benz Marketing Strategy
It makes use of multichannel approaches to connect diverse types of channels and distribution networks Mercedes showrooms, dealerships, as well as Mercedes “Mercedes me”, the brand new chain of stores which opened in select locations across the globe, is aiding them to make their offerings available to customers.
Brand equity – Mercedes Benz Marketing Strategy
Strategic partnerships with various companies such as Baidu Formula-one, Baidu, Nissan, and numerous others have helped the company create high-level awareness. Mercedes through its advertising on various channels has created positive positive word of mouth that has assisted Mercedes in increasing its percentage of cash.
Competitive Analysis – Mercedes Benz Marketing Strategy
AUDI, Volvo, and BMW which are providing an edge to Mercedes in a majority of markets has resulted in or further gaining market share and in market that is stagnant such as those of the developed nations, competitors are consuming the market share of each other.
Market Analysis – Mercedes Benz Marketing Strategy
The rising market demand for luxurious automobiles across Asian markets, the changing way of life, and the growth rate of 33 percent in the premium segment in a developing country such as India are reasons that more and more players are joining this sector. Many players are fighting to steal the market share of each other. In the developing world, Mercedes is playing with aggression, whereas an organization such as BMW is unable to remain competitive in these markets.
Customer Analysis – Mercedes Benz Marketing Strategy
The upper-middle-class or upper-class social category who are in the middle of their careers and maybe in the age range between 30 and 50 years are likely clients of Mercedes. The company aims to continuously improve these aspects and continuously improve its innovative, high-quality products range to please customers and bind their hearts to Mercedes. Mercedes brand.
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