The Marketing Mix of Mercedes Benz tells the 4ps (Product, Price, Place, and Promotion) of the German multinational corporate manufacturer of luxury vehicles and motorcycles – Mercedes!
Mercedes Benz’s marketing mix demonstrates what a fantastic company it is, and how, according to Business Week Magazine, it is one of the most well-known worldwide vehicle brands. This high-profile accomplishment is the result of a combination of hard work, patience, and superb execution of a successful marketing plan.
Mercedes-Benz is a German manufacturer that specializes in luxury vehicles, buses, and trucks. Stuttgart, Germany, is the company’s headquarters. Mercedes-Benz, founded in 1926 by Karl Benz and Gottlieb Daimler, has evolved to become one of the world’s most prestigious luxury brands. The 3-pointed star, Mercedes Benz’s emblem, is one of the most well-known trademarks in the world.
This marketing mix analyzes the company’s marketing and advertising strategies over the years to position itself as a market leader in the intensely competitive automobile industry.
Let’s start with the Marketing Mix of Mercedes Benz to learn more about its product, price, promotion, and distribution approaches.
Product in The Marketing Mix of Mercedes Benz
Even a child may recognize the name Mercedes Benz, yet many people are unaware of the company’s history and product line. Mercedes Benz has always been connected with a world-class brand of automobiles, buses, coaches, and tracks noted for their luxurious nature.
Mercedes Benz is not a separate corporation; its parent company, Daimler AG, was founded in 1890 by Gottlieb Daimler and Wilhelm May Bach.
Karl Benz established his company in 1871, which ultimately became part of Daimler AG. The headquarters of Mercedes-Benz are in Baden-Württemberg and Stuttgart, Germany.
As previously said, the corporation today manufactures a wide range of innovative luxury vehicles, coaches, automobiles, and buses in its global production sites. Karl Benz, one of the business’s founding fathers, invented the first vehicle in 1886, which founded the corporation.
In 1901, the automobile was initially offered for sale. Since then, the company has implemented several innovations that have aided in the company’s growth.
The product is the most important P in Mercedes-marketing Benz’s mix. Mercedes has been one of the most popular brands in India for more than 50 years. The S-Class, E-Class, C-Class, and ML-Class are currently assembled by the company, whereas the GL-Class, CLS-Class, and SLK-Class are wholly imported.
Price in The Marketing Mix of Mercedes Benz
Convertibles, full-sized sedans, coupes, and sports sedans are all available from Mercedes-Benz. It now offers 14 automobile types with prices ranging from INR 21,49,000 to INR 7,68,00,000.
Mercedes-Benz is making every effort to penetrate the Indian luxury market. In reality, the business caters to a certain market sector in which the buyer is more concerned with the product’s worth than with anything else.
As a result, the company has worked hard to ensure that it produces high-quality vehicles first and foremost. Outside of India, the company offers a wide range of prices, ranging from $30,000 to $100,000 depending on the model.
Place in The Marketing Mix of Mercedes Benz
Mercedes-Benz has made several technical and safety advancements throughout the years. The introduced innovations, on the other hand, were quickly replicated by other businesses.
The company sells its products through a large network of dealers all around the world. Mercedes-Benz recognizes that customers are looking for more than simply a vehicle to get them from point A to point B.
They’re building an automobile that will allow them to simply sell the concept of the car on the market. The corporation wants to shift people’s perceptions of the brand and reposition it to appeal to a younger demographic.
They’re also implying that they’re more approachable than they’ve ever been.
Promotion in The Marketing Mix of Mercedes Benz
Mercedes-Benz has long been a passionate marketer of its vehicles. Mercedes-marketing Benz’s mixed promotional approach employs all media channels, including television, print, web, billboards, and so on. Mercedes did not see the need for traditional advertising because it catered to the premium market.
Mercedes’ marketing strategy has always focused on its products, technology, and other aspects of the company, but as times have changed and customer attitudes have shifted, the company has resorted to increasing its communication with consumers worldwide through online marketing, social media presence, print media, and other means.
Mercedes has also boosted brand recognition through a variety of customer-focused events, such as the Mercedes Trophy, an international amateur golf competition in which golfers from all over the world participate.
It also arranges different drives, such as the International Driving Platform, Luxe Drive, and others, where motor enthusiasts may drive Mercedes automobiles in tough environments.
I hope you have gathered all the required information about the Marketing Mix of Mercedes Benz and the 4 P’s of Mercedes Benz. Stay tuned for more Marketing Mix Articles.