Boeing Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Boeing through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Boeing Product Strategy:
Boeing offers a wide range of products as part of its marketing mix strategy. The main products offered by Boeing are commercial airplanes, defense products and space crafts.
Boeing's commercial vehicles and the derived military vehicles include 717/MD-95, 707/720, 727, 737, 747, 757, 767, 777, 787, Seaplanes, Cloudster Passenger Biplane, DC-Series, Liftmaster, Gamma Passenger Transport, Doodlebug Research Vehicle, Dolphin Amphibian, Douglas World Cruiser, H-1 Racer Racing Monoplane, H-4 Hercules Flying Boat and others.
Boeing’s defense products include Air Borne Early Warning & Control, Ch-47 Chinook, Apache Longbow Air force one, B-1B Lancer, crew training system, Light Attack Helicopter, Constant Resolution Visual System, Cybersecurity & Information Management, Directed Energy, Super Hornet, EA-18G Growler etc.
The space products include Satellites, Spacecrafts, Lunar Orbiter Spacecrafts, Launch Vehicles, Rockets, Inertial Upper Stage Rocket, Moon Rocket, Space Shuttle Orbiter, Solar Power Satellite, Surveyor Lunar Spacecraft, International Space Station & much more.
Image: Wikimedia
This concludes the product strategy in Boeing marketing mix & strategy.
Boeing Price/Pricing Strategy:
Below is the pricing strategy in Boeing marketing mix strategy:
Boeing and Airbus have a duopoly in the market. Thus the marketing mix pricing strategy of Boeing is mostly premium.
The pricing is competitive only with respect to some similar products of Airbus. There is fierce competition for some of its products while some are unchallenged. For highly similar aircrafts the company has offered even high discounts to beat the prices of Airbus. The pricing used for different carriers depends on the willingness and the size of the orders carriers use to price the planes. Thus due to Duopoly, the player has the ability to use price discrimination in its pricing. The company has an annual revenue in the revenue of $90 billion.
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Boeing Place & Distribution Strategy:
Following is the distribution strategy in the Boeing marketing mix:
Boeing sells its products through tie-ups with various carriers across the world. Some of its customers include American Airlines, British Airways, Air India, Lufthansa, Emirates, Etihad, KLM, Qantas, Turkish Airlines etc. Most of the international planes fleet are Boeing. Companies like FedEx & UPS also have Boeing aircrafts for transportation. The distribution has most important part which is includes the distribution of spare parts. The distribution centers are located in different places globally. To reduce the shipping costs and minimize delivery time, the centres are strategically located. Order placement service is possible through web. The air crafts are manufactured in many of its factories.
The company has its customers across different counties.
Boeing Promotion & Advertising Strategy:
The promotional and advertising strategy in the Boeing marketing mix is as follows:
Boeing extensively promotes itself through TV commercials and print media. The logo is printed on all the Aircraft carriers. They also sponsor events to increase their visibility. The promotions mainly target the carriers. The website link is pasted on various websites to enable the customers to reach their websites. The carriers also announce the name of the aircraft that ensures that the type of aircraft is communicated to the consumers. This explains the marketing mix of Boeing.
About Boeing:
The Boeing company based in Seattle, Washington, is a multinational corporation. It was founded by William Boeing in the year 1916. The company has various divisions such as commercial, Space & security, Shared Services Group, Engineering, Boeing Capital, Operations & Technology. It is the second biggest defense contractor globally whereas largest aircraft manufacturer in the world. By dollar value, it is the largest exporter in America.
They have as of delivered more than 700 aircrafts and 10 satellites. It also has subsidiaries such as Aviall Services, Boeing Aircraft holding company, Boeing Canada, Boeing Australia, Boeing Capital Corporation, Boeing Defense UK, Jeppesen, Narus, Boeing Commercial Space company.
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