Rolls Royce Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Rolls Royce through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Rolls Royce Product Strategy:
Rolls Royce is a globally recognized luxury car brand based in England. Rolls Royce is an extremely high end luxury car maker specializing in providing cars to elite clients. Rolls Royce has several prominent brands like Phantom, Dawn, Ghost, Wraith etc. in its product line up in its marketing mix. The brand is a subsidiary of German auto giant BMW. Rolls Royce Motors offers customized cars to customers, and the company has nothing to do with Rolls Royce brand which is another conglomerate with the same name. Rolls Royce cars have a unique identity of a long front bonnet, metallic finish exteriors and customized interiors. Rolls Royce also offers Coupe or convertible variations for some its models. The products and cars basically define the ultimate criteria for luxury in the automobile segment. Since Rolls Royce focuses only on a niche premium segment, the annual sales of the brand worldwide are only in the range of 3500-4500 cars. The brand has regularly invested in creating concept cars keeping the future in mind.
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This concludes the product strategy in Rolls Royce marketing mix & strategy.
Rolls Royce Price/Pricing Strategy:
Below is the pricing strategy in Rolls Royce marketing mix strategy:
Rolls Royce motor cars are premium priced cars and they serve only extremely affluent and rich clients. The pricing in its marketing mix is kept high as they offer products, services and finishing of the highest quality and also offer customization as per the requirement of the customer.
Rolls Royce offers cars starting at a base price of $200,000- $250,000. These prices for Rolls Royce are the entry level prices. Customizations, additional add-ons, interiors etc. can increase the price of the cars as per the customers needs and wants. The costliest Rolls Royce car was Hyperion Pininfarina priced at $6 million per car. This clearly shows that the brand is not disrupted by an competitor pricing and simply focuses on offering highest quality and a premium price. The annual revenue of the brand is more than $15 billion worldwide.
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Rolls Royce Place & Distribution Strategy:
Following is the distribution strategy in the Rolls Royce marketing mix:
Rolls Royce has a tremendous worldwide presence. The brand has offices spread in 50 countries worldwide. People from over 150 countries like US, UK, India, Middle East, Australia, China etc use Rolls Royce cars. Rolls Royce is headquartered in England, where they have the administrative and production facilities for the customers. Since Rolls Royce has a limited client base, they have been extremely diligent in having a strong distribution network of its cars. Since Rolls Royce are customized, spare parts and servicing are provided by the company and they are delivered to the customer's doorstep.
The company follows an extremely niche market mix strategy when it comes to place and distribution of cars and spare parts.
Rolls Royce Promotion & Advertising Strategy:
The promotional and advertising strategy in the Rolls Royce marketing mix is as follows:
Rolls Royce has a tremendous legacy and is an inspirational brand. It is not a product which the masses will buy and hence Rolls Royce does not follow the conventional advertising strategy in its marketing mix. Since this caters to a niche segment, using mass media like TV, print, online ads etc doesn't make sense for the company. Rolls Royce being a sought after luxury brand and a social status symbol, attracts elite people. Word of mouth, usage by rich and successful celebrities, businessmen etc make Rolls Royce a powerful brand. This is the biggest marketing or brand awareness which the company can do. For its customers, Rolls Royce ensures they are engaged through various activities like exclusive merchandise, expensive gifts etc. Also, regular PR coverage through newspaper articles, TV shows etc reiterate the prominence and dominance of the luxury car brand. Hence, this gives an insight in the marketing mix of Rolls Royce motors car brand.
About Rolls Royce:
Rolls Royce Motors is a global luxury car manufacturer which sells premium cars across the world. The company is established in UK and has an employee strength of close to 1300 people in the organization. Rolls Royce is a subsidiary of the German automobile brand BMW since 1998. Annually, the company sells close to 4000 cars across the world as it serves a very niche and affluent segment.
Apart from US and China, which are the biggest markets, Rolls Royce sold its cars to over 150 countries. The oil rich Middle East market along with Europe, India and Australia is also a lucrative market for Rolls Royce cars.
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