Marketing Plan of Bentley Motors Limited
1. Executive Summary
2. Company Description
Bentley Motors Limited is a British Manufacturer of automobiles, founded on the 18th of January 1919 by Walter Own Bentley. In the First World War, Bentley was known because of their rotary aero-engines. After the war Bentley designed and produced cars that won the Le Mans race in 1924, 1927, 1928, 1929 and 1930.
Bentley presented Queen Elizabeth II with an official State Limousine to celebrate her Golden Jubilee in 2002.
Bentley believes that it is a high end luxury car, which has tradition and ultimate class. Bentley follows a “high-price” strategy, and this Marketing Plan outline will show how Bentley improves their sales and continues to gain a share in the market.
3. Strategic Focus and Plan
This section covers three aspects of corporate strategy that influence the marketing plan: (1) the mission, (2) goals, and (3) core competence/sustainable competitive advantage of Bentley Motors Limited.
Bentley Motors states that they don’t have a mission statement; but if they did, it would have been in the words of Walter Owen Bentley, “To build a good car, a fast car, the best in class”. The vision statement that Bentley Motors Limited follows is, “We are Bentley Motors – the definitive British luxury car company, dedicated to developing and crafting the world’s most desirable high performance cars.
1. Have a larger market share.
2. Launch a Sports Utility Vehicle (SUV) in the United Kingdom in 2015. The model will be based on the Porsche Cayenne, and will be produced in the United Kingdom. The SUV will be priced around GBP 140,000.
3. Become more eco-friendly.
4. Increase sales to 1500 cars, by 2013.
Core Competency and Sustainable Competitive Advantage
In terms of core competency, Bentley Motors seeks to use their uniqueness to provide sophisticated and distinctive, high quality luxury cars and other products that appeal to its target customers.
In order to use its core competency as a sustainable competitive advantage, Bentley will work with its customers and employees to strengthen the relationships and build bonds to satisfy the high tastes of its clientele.
4. Situation Analysis
This situation analysis will show how Bentley is growing larger in the market. Globally Bentley sold just over 10,000 cars in 2007 – compared to 9,000 cars in 2006 and 1000 in 2003.
Figure 1 shows some characteristics that might influence the market opportunities for Bentley Motors. The SWOT emphasizes the good choices made by the company.
Positive internal factors are related to the board, the management growth, the intrinsic value of the brand associated with the high end luxury car. Favorable external factors include the increasing need of luxury goods in the environment. A note to consider is that the financial crisis of 2007 did not affect Bentley’s clientele.
Regarding unfavorable factors, the main weakness is the limited growth in the market. Due to the outstanding care and attention given to the production of each Bentley car, the production is slowed down as each car is hand made. However this limited production is perfect for Bentley’s marketing plan.
Figure 1: SWOT Analysis for Bentley Motors
|Internal Factors |Strengths |Weaknesses | |Management |Excellent and specialized board |Owned by Volkswagen, therefore has to | | | |report to Volkswagen. | |Offerings |Unique, high-price and high-end luxury |Many other...
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