Fiat Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Fiat through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Fiat Product Strategy:
FIAT manages the need of mobility responsibly by offering wide range of vehicles to its large number of consumers. Automobile industry is providing flexible solutions to individual needs and offers the most popular means of transportation. FIAT uses its experience in the marketplace and strengthens its portfolio of car by launching new models. The brand keeps innovating and introducing dynamic new models and new features. The company targets different audiences by offering different products to them. For example, the model Panda was offered and targeted toward young generation. FIAT provides different number of attributes through its products. Product design is linked with positioning and branding. FIAT offers TIPO Range ,500 Range ,500L Range,500X Range, PANDA Range, PUNTO, QUBO, DOBLO in its marketing mix products straategy. The group brand invests huge amount in research and development. FIAT is committed to reducing CO2 emission, use of alternative fuels and engaging customers in eco- responsible behaviour.
Image: company website
This concludes the product strategy in Fiat marketing mix & strategy.
Fiat Price/Pricing Strategy:
Below is the pricing strategy in Fiat marketing mix strategy:
FIAT understands its target market and designs its pricing strategies to best address their needs. Transparency in pricing is of utmost importance to FIAT.
Being an automobile brand, the marketing mix pricing strategy of FIAT depends upon competitor, segment it is catering to, features in the car and demand from customers. The products are keenly and transparently priced. The price quoted for the earlier models and the prices quoted for the competitor’s offering is also used to determine final price. The price quoted by FIAT is the price which is paid to the dealers, i.e. Open Book Pricing Policy. The customers have to pay additional charges for additional features and delivery (the margin is fixed in the contract between FIAT and supplier). Tailor made products for each region as per the regulatory norms for e.g. zero emission, Optimized CO2, weight based differences are priced accordingly. The brand also offers finance packages to make the cars accessible for its customers. For example, a customer can opt to pay 25 % of total cost and rest over 36 months with 0% interest.
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Fiat Place & Distribution Strategy:
Following is the distribution strategy in the Fiat marketing mix:
FIAT believes in working with global supply chain and it has a global dealership network to achieve high quality delivery in their product, services and operations. The group brand has its presence in Europe, America, Asia, Africa and Australia and New Zealand. The brand focuses on developing a relationship of mutual understanding and respect to promote good practices and sustainable development. FIAT also has International network of agents and dealers who work for them for successfully delivering of products to customer.
FIAT also follows the regulatory requirements for each product in different regions.
Fiat Promotion & Advertising Strategy:
The promotional and advertising strategy in the Fiat marketing mix is as follows:
FIAT Group believes that they have a moral responsibility to contribute positively in the society. FIAT has a philanthropic strategy which supports social inclusion, cultural growth and economic development in local communities. The Corporate Social Responsibility(CSR) also supports volunteer works and education which helps future innovators to obtain technical skills. The brand is a part of car races since the advent of the company and till date it promotes its products in motor races. The pull strategy is employed to attract the customer and make the sale by doing pre-publicity of the cars. The products demand increases due to the publicity and sales are achieved. FIAT also asks experts and journalists to test drive and give their review and opinion about the cars. Occasionally, customers are also offered to test drive the product. The company also advertises the product in social media, billboards and TV. The company launches its cars in trade fairs. This gives a summary of FIAT marketing mix.
About Fiat:
FIAT Chrysler Automobile (FCA) group owns the group brand FIAT. FIAT and Chrysler merged to form the group FCA. FIAT was founded in the year 1899 and it is an Italian brand. FIAT has offered many products to its customers and many of them were ranked as “European Car of the year”. FIAT manufactures passenger cars, electric vehicles, concept cars and cars for motorsports. The brand is headquartered in Turin, Italy. The brand believes in delivering products that are a result of high technology and innovation and at the same time, the brand is also committed to provide environment friendly products.
FIAT is the lowest carbon dioxide emitting car in Europe and the technology used is known as ecoDrive. The products by FIAT are fuel efficient.
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