Lamborghini Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Lamborghini through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Lamborghini Product Strategy:
Lamborghini is one of the most popular sports car brand in the world. Lamborghini started out when the founder after returning back from World War II, started piecing together tractors from spare parts which were available to him. The tractor business gained immense popularity and hit out overnight as a successful business venture, giving the founder the confidence to venture into the luxury vehicles market. Lamborghini is actually a manufacturer of luxury supercars, sports cars and SUVs and is headquartered in Sant'Agata Bolognese, Italy. Lamborghini is also known for producing sports car engines and V12 engines which are used for offshore power boat racing. The automobile range of Lamborghini at present, includes two model lines in its marketing mix, both of which are mid-engine two seater sports cars. In the mid-80s, Lamborghini also ventured into the field of motorcycles when it produced 1000cc sports motorcycles. Lamborghini’s superior performance with modern looks and one of the most advanced braking systems, makes it a popular choice amongst all car enthusiasts. The fastest ever Lamborghini is the Le Mans version of the Murcielago R-GT model. It can go up to a maximum speed of about 370 km/hour.
Image: Wikimedia
This concludes the product strategy in Lamborghini marketing mix & strategy.
Lamborghini Price/Pricing Strategy:
Below is the pricing strategy in Lamborghini marketing mix strategy:
Being a luxury car maker, Lamborghini creates a market of buyers who are looking for class coupled with elegance and performance as the criteria for making a vehicle purchase. To offer the class and luxury associated with the product, the pricing strategy in its marketing mix is extremely premium.
After sales services and individual sub-parts are extremely expensive for buying as well. Lamborghini ranges in price between 300,000 dollars for the most commonly available to models like Huracan to 4500,000 dollars for exclusive vehicles like Lamborghini Veneno Roadster.
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Lamborghini Place & Distribution Strategy:
Following is the distribution strategy in the Lamborghini marketing mix:
Lamborghini has more than 135 dealers across 50 countries and worldwide deliveries of cars are as huge as 3457 units as per the latest information available from dealers. Presently, USA is the largest market with more than 1000 units sold per year followed closely by Japan, UK, Germany, Canada, the Middle East and China. There are two types of dealerships commonly prevalent in the distribution of Lamborghini cars across the world. The first type of dealership is the official Lamborghini dealership which is recognized by the company. The second type is a one in which smaller and generally used models of cars are sold and repurchased.
The official dealership is present across the prominent countries of the world and costs millions of dollars to setup.
Lamborghini Promotion & Advertising Strategy:
The promotional and advertising strategy in the Lamborghini marketing mix is as follows:
Lamborghini manifests itself through its iconic logo that symbolizes the raging bull. The origins of the logo come from the terms that the founder of Lamborghini was a Taurus himself. Lamborghini also sells licenses to other brands to manufacture various Lamborghini centred consumer goods including clothing, accessories, electronics items, bags and laptops. They are into selling and promotion through the idea of concept cars. Throughout history, they invest significantly in developing concept cars including the very first prototype called as the 350GTV. The stitching work in these cars through history, has been done by women only, men are not allowed to be a part of this division. Lamborghini also has a museum of two storeys dedicated to convey the evolution, growth and history of the Lamborghini cars throughout the years. They also showcase a number of modern and vintage models. Important milestone in the history of Lamborghini are also highlighted by means of the museum. The museum is located right next to the headquarters in Italy. There is an academy dedicated to teaching enthusiasts the art of driving on ice and snow. It is called the Lamborghini Winter Academy and is all about teaching individuals how to have fun driving a Lamborghini model in the beautiful and scenic Alps Mountains. Because of the immense popularity and loyal customer base that it has, the company does not engage in promotions through television commercials or hoardings. This is not an everyday product and needs to be promoted through events, print ads in class magazines and so on. Hence this completes the Lamborghini marketing mix.
About Lamborghini:
One of the most popular names when it comes to luxury cars, Lamborghini is a company from the automotive industry that deals with the manufacturing and distribution of luxury vehicles. It was founded in the year 1963 by Ferruccio Lamborghini with the prime objective of producing a car which could be used to tour grandly and compete with the likes of Ferrari, which was extremely popular back then.
Lamborghini, at present is owned by the Volkswagen group through its subsidiary Audi. It still remains a popular exclusive & expensive brand.
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