Royal Enfield Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Royal Enfield through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Royal Enfield Product Strategy:
Royal Enfield is one the leading global motorcycle brands based out of India. Royal Enfield which started making bikes for Indian army has a concentrated product portfolio in its marketing mix and manufactured motorbikes are: Café Racer (Continental GT), Cruiser (Royal Enfield Thunderbird 500, Thunderbird 350), Retro Street (Classic Squadron Blue, Classic Desert Storm, Classic Battle Green, Classic Chrome, Classic 500, Classic 350), Standard street (Royal Enfield Bullet 500, Bullet 50, Bullet ES), Himalayan. Royal Enfield products are also known for their versatility according to consumers demand like adjusting the gears from ideal to left. This helps them in attracting new customers. They also utilizes the strength of engine as their own strength to retain current customers. As the products are not only driven by innovations but more with an understanding of users, market and competitors so now Royal Enfield is even changing from a manufacturing approach to become more consumer oriented. Royal Enfield likes to make changes, implement new things in bikes without taking their initial identity.
Image: pixabay
This concludes the product strategy in Royal Enfield marketing mix & strategy.
Royal Enfield Price/Pricing Strategy:
Below is the pricing strategy in Royal Enfield marketing mix strategy:
Royal Enfield comes up with a bike which is more demanded by the younger generations. So Royal Enfield focused on the bike explorers and moderately aged youths who love to catch up with the new hard style bikes and focuses more on quality then the price.
So with this Royal Enfield follows a premium pricing strategy in its marketing mix by delivering its customers a high quality products which are worth the value. With the goal as less of more Royal Enfield manufacturers less number of models but each one of them is of high quality which helps them in offering a capable and stylish product under its brand to their users who whole heartedly accept the product regardless of premium price. After the GST prices Royal Enfield has adopted a different strategy by further diminishing the prices of its least popular bikes.
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Royal Enfield Place & Distribution Strategy:
Following is the distribution strategy in the Royal Enfield marketing mix:
Royal Enfield whose central manufacturing plant is based in Chennai is now operating in more than 50 nations all over the world. Currently Royal Enfield’s distributors who are working for different exports markets themselves appoint dealers in various locations who finally run the multi brand outlets. With a new assembling plant opened in Chennai, Royal Enfield is able to tackle the problems of product shortage and they easily export the products to all the nations through ship route. Even after this there are few nations where shipping is not that easy like Brazil due to various policies so Royal Enfield is looking to open local assembly and manufacturing plants. Royal Enfield has a vast and strong distribution network which incorporates the goals of merchants and dealers so that customer needs are satisfied without any issue. Royal Enfield targets both urban and rural consumers in India with its more than 350 dealership outlets.
However urban consumers are favored a little mores seeing the past purchase records and youngsters preference who are their main consumers.
Royal Enfield Promotion & Advertising Strategy:
The promotional and advertising strategy in the Royal Enfield marketing mix is as follows:
Royal Enfield has always focused on a holistic and complete marketing approach. To increase the volume of bikes sold, Royal Enfield has decided to focuses more on the consumers need rather than engineering. They launch what consumer wanted so as to increase the visibility of their products to a larger audience. Seeing that their prime consumers are middle aged man who are more inclined to the digital technology so Royal Enfield focuses more on digital marketing i.e. by launching various online campaigns on different social media sites like Facebook, twitter, Instagram etc. It also participates in various shows or deal with various TV series in order to increase visibility of products. Royal Enfield’s promotions are also seen by traditional way that is through TV, newspaper, magazines, flyers, boards etc. Hence, this concludes the Royal Enfield marketing mix.
About Royal Enfield:
Royal Enfield is an Indian motorcycle company which has created a huge impact in the automobile industry. Royal Enfield has been able to create an image in the market such that by its name only every consumer creates an image of a luxurious, strong motorcycle. Royal Enfield have been manufacturing the classic automobiles like Bullet, Electra, and Thunderbird series from 1909. Royal Enfield is also distinctive in its logo with a cannon and a tagline of “Made like a gun”.
This logo shows the heritage of the Enfield Company. Vehicles manufactured under Royal Enfield are prevalent for tough looks, incomparable dependability and enormous power.
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