Alfa Romeo Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Alfa Romeo through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Alfa Romeo Product Strategy:
Alfa Romeo is a car manufacturer which is based out of Italy’s Fiat Chrysler. Despite the fact that Alfa Romeo is best known as a car maker, its Italian design and build quality, it has likewise delivered successfully commercial vehicles of various sizes, railroad trains, marine and airplane engines. After Alfa Romeo was acquired by Fiat, its only focus has been passenger car segment. It has defined various sub-segments in its marketing mix product portfolio such as experiential purists, everyday drivers, materialistic people for whom it has created its market strategies and products offering them a pure driving experience and providing more value than its competitors such as Porsche, and Chevrolet. In automobiles, there are currently five models available- MiTo, Giulietta,4C, Giulia, Stelvio. In the current models, MiTo is a three-door car whose size is in between a city car and a family car, Giulietta is a five-door small family car, 4C is a small two-seater sports car launched to cater the US market, Giulia is an executive car whose size is larger than a family car and Stelvio is Alfa Romeo's first production SUV with five doors. Thus, its products cater to various car segments.
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This concludes the product strategy in Alfa Romeo marketing mix & strategy.
Alfa Romeo Price/Pricing Strategy:
Below is the pricing strategy in Alfa Romeo marketing mix strategy:
Alfa Romeo brand known for exclusivity and quality sports car, and it charges a premium for it with its models priced even higher than its competitors such as BMW, Audi and Porsche. Its high price reflects its performance as well as the beauty which it offers in its products.
Thus, Alfa Romeo follows a value based pricing strategy in its marketing mix for its products. It is a luxury car brand with the lowest model of Giulia starting from $38000 and the highest model 4C spider costing $68000 and these are just the entry level prices. Further, the car models can be modified using given set of features for engine, seats, roofs, exhaust and interior and thus further charges for these optional features. The brand further focuses on offering high quality products with a sporty image at a premium price.
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Alfa Romeo Place & Distribution Strategy:
Following is the distribution strategy in the Alfa Romeo marketing mix:
As Alfa Romeo is a subsidiary of Fiat Automobiles, Alfa Romeo car production and distribution takes place under the direct management and supervision of Fiat. It has a tremendous worldwide presence. It has a presence in 52 countries in Europe, Asia, America, Africa and Oceania such as Canada, Mexico, US, Japan, Middle East, Australia etc. The cars are sold exclusively through dealerships in these countries. Since Maserati is also a subsidiary of Fiat, Alfa Romeo was able to gain access to its dealership for expedited distribution to gain a considerable market share in United states after its relaunch. Further Alfa Romeo lifestyle clothing and accessories can be bought through the dealership or the online website.
Further is also holds frequent test drive events to give its target audience an experience of the car.
Alfa Romeo Promotion & Advertising Strategy:
The promotional and advertising strategy in the Alfa Romeo marketing mix is as follows:
Alfa Romeo has positioned itself in a niche small market for which it spends huge amounts on promotion of the brand as it sponsors a number of sporting events such as the Mille Miglia rally, SBK Superbike World Championship and Ducati Corse. It also sponsored various events including various auto shows in several countries as well. Alfa Romeo has also been promoted through motorsports show as well such as Top Gear. Further its focus through its communication is on the quality and Italian design roots as well. The communication mainly takes place through selective print media advertising, TV advertisements, in-store channels and a dedicated YouTube channel. Hence this completes an overview of Alfa Romeo marketing mix.
About Alfa Romeo:
Alfa Romeo is one of the prominent vehicle brands under Fiat Chrysler Automobiles which is the biggest vehicle maker in Italy. At first Alfa Romeo Automobiles was established in 1910 in Milan and rapidly constructed a reputation for being an exceptional sports car. Later in 1986, Alfa Romeo was acquired by Fiat.
Although it struggled in the initial years of acquisition by Fiat to capitalize on its rich racing history and find a niche within the sports car segment, due to the research done in its Skunkworks lab, it was able to change the perception of the people with its new offerings and innovation Alfa Romeo has contended successfully in Grand Prix, Formula One, Sportscar racing, tour car racing with participation both as constructor and a motor engine provider, through works sections and private entries. The triumphs have made it a world motorsport legend and has given a lively sporty picture to the entire marque.
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