Strategic Marketing for Bentley Motors in Sweden

This report discusses the strategic marketing plan for Bentley Motors to expand its business in Sweden, including the marketing mix, customer-based brand equity model, integrated marketing communications, and measuring marketing effectiveness.

Strategic
Marketing

Contents
INTRODUCTION...........................................................................................................................................3
MAIN BODY.................................................................................................................................................3
Marketing Mix.........................................................................................................................................3
Customer Based Brand Equity Model......................................................................................................4
Integrated Marketing Communications...................................................................................................5
Measuring marketing effectiveness.........................................................................................................6
CONCLUSION...............................................................................................................................................7
REFERENCES................................................................................................................................................8

INTRODUCTION
Strategic marketing refers to a process through which an organization can differentiate
itself from its various competitors through the use of effective techniques of marketing (Hunt,
2017). It helps in gaining a distinct competitive advantage over the competitors. This report is
based on Bentley Motors. The company wants to expand its business in Sweden. In this report,
detailed analysis will be made on organization’s internal and external environment, development
of strategic marketing plan. Additionally, focus will be made on management of resources and
monitoring, measuring and adapting the marketing plan for the purpose of achieving continuous
improvement.
MAIN BODY
Marketing Mix
Marketing mix refers to using of 4P’s of marketing. These are explained in the context of
Bentley Motors as follows-
Product- Product refers to the goods or services which are provided by an organization
to its various types of customers (Josephson, Johnson and Mariadoss, 2016). In the context of
Bentley Motors, its products are cars which it sells in the market. It will use the broader market
of Sweden to target various customers. As it targets expansion in the country it will need to
introduce innovative designs and newer features in its cars so that it can easily attract the
customers. The cars which are being sold by the company to its customers should justify their
price tag through their performance. Bentley Motors can make sure that it provides good cars in
the market of Sweden which justify their price tag thus helping the company to make profits in
the country.
Price- Price refers to the amount of money which is charged from the customers by
providing them goods or services. For Bentley Motors, to target expansion it is necessary to use
the right pricing strategy. It is recommended that it uses competitive pricing strategy to expand to
the parts of Sweden where it is not present. This is so because the market of Sweden is highly
competitive in nature and thus it is required that the prices of cars should be able to attract the
customers towards the stores of company resulting in higher sales and thereby an increase in
profits. Bentley Motors has to make sure that it is able to set a right price in the market for its
cars in Sweden so that the customers look forward to its products. As Sweden has a high-income
economy therefore premium segment can be targeted easily here.
Place- Place refers to the location where a business is being carried out. It is quite
important as it is essential for a business’s success. Bentley Motors has chosen Sweden for
expansion. For this purpose, the managers of the company have analyzed the macro-environment

factors which can affect the firm’s performance in the country. Therefore, for succeeding in its
strategy of expansion in the country Bentley Motors needs to choose the right locations in the
country which have substantial customer base present. Also this will ensure that it targets
customers in the country on the basis of segmentation leading towards maximization of profits
easily without any problems and issues. This will be important as it will help in attaining long-
term strategic and competitive advantage in the future time period. Bentley Motors can select
different locations in Sweden for its stores and can make sure that it is targeting the right
customers so that it can achieve its goals as well as objectives and can maximize its level of
profits.
Promotion- Promotion is the last element of the marketing mix (Kumar, Sharma and
Gupta, 2017). It is required because brands need to promote their goods and services in order to
reach the customers. For Bentley Motors, it is quite significant because it will lead towards using
of the right promotion strategies for expansion into the market of Sweden. The company will be
required to use the right tactics ranging from traditional ones to more modern ones. This is
essential because a proper balance needs to be maintained so that different customers can be
targeted easily. On the basis of this the firm can make higher profits. Bentley Motors needs to
actively engage in its strategy for promotion and must aggressive tactics in order to make sure
that it is able to get ahead of its various competitors in the market.
Customer Based Brand Equity Model
CBBE Model refers to building of a strong brand by shaping the mindset of customers
about the products and services. The different steps in this model are as follows-
 Brand Identity- The first step aims towards creating brand awareness among the
customers. This can be done by creation of goodwill and brand image so that the
customers can recognize the brand easily. For Bentley Motors, it is necessary that they
aim to establish the identity of their brand in parts of Sweden where they are not present
so that they face no problem in targeting the customers. Thus the company would be
required to firstly create the required awareness about their brand in the Sweden market.
Bentley Motors needs to maintain its identity and brand image in the market of Sweden
by making sure that it provides good quality products.
 Brand Meaning- The second step is all about creating a meaning around the brand
(Sadeghpour and et.al., 2017). This can be done through performance and imagery.
Performance means meeting out the needs and requirements of the customers by
providing them best products and services. Imagery refers to satisfaction of the customers
on a social and psychological level. In the context of Bentley Motors, it is necessary that
it creates a meaning for its brand by providing best cars with best performance and
satisfying it clients at different levels in the parts of Sweden where it is not present.
Bentley Motors needs to ensure what it brand means to the customers in the country so
that it can earn higher profits. It can do so by selling them high-quality cars.

 Brand Response- The third step revolves around the response which has been received
from the customers about the brand. Bentley Motors has to see whether it has received
the right response from the customers about its brand and its performance in the markets
of Sweden where it is not present. If there are any shortcomings revealed in the feedback
received from the customers then they must be resolved immediately so that the
satisfaction level of clients always remains high. The most important factors which are
considered by them for judging a brand generally are quality, credibility, consideration
and superiority. Thus creating a positive response for the brand is quite essential for a big
company in the long-run because it provides it with a distinct strategic advantage for the
future time period. The company has to make sure that it receives the right response from
the customers by the use of right tactics.
 Brand Resonance- The fourth step revolves around the connection the customers can
have with the brand. For Bentley Motors, it is quite important because resonance can be
broken into different categories such as behavioral loyalty, attitudinal attachment, sense
of community and active engagement. If the company has to increase its presence in the
Sweden market through adoption of route of expansion then it needs to create this
resonance. This will help a lot in strengthening the bond with the clients and thus will
lead to a positive review and feedback among the customers about the brand. Thus this
will help in achievement of aim of maximization of profits. The company has to make
sure that its brand has resonance with the people by providing good products to them.
Integrated Marketing Communications
Marketing communication is very important from the point of view of any organization
(Thrassou, Vrontis and Bresciani, 2018). It is so because it helps in connecting with the
customers easily. The methods of marketing communication which Bentley Motors is going to
use are as follows-
Advertising- Advertising refers to use of various tactics and methods to reach directly to
the targeted customer for the product or service. There are various methods which Bentley
Motors will use to target expansion such as T.V. advertising, newspaper advertising etc. It can
use this strategy in Sweden to increase the sales of its cars.
Digital marketing- Digital marketing is the latest form of marketing which is used by the
firms in order to reach the targeted customers (van Scheers and Makhitha, 2016). There are
various methods which can be used for digital marketing such as social media, websites etc.
Bentley Motors is going to use these methods for targeting its customers. It can use it in Sweden
by using different types of digital channels effectively.
Sales promotion- Sales promotion refers to the use of tactics to attract the customers
towards a particular product or service. Bentley Motors can make use of discount offers and
various other tactics so that it can target its customers. It can use these tactics in Sweden to raise
its sales and revenue.

IMC-
IMC is a process through which companies take an approach which is centered on the
customers by aligning their objectives with the goals (The Five Steps of IMC, 2018). The steps
which Bentley Motors can take for it are as follows-
 Identification of customers- For adopting this step, proper market segmentation is
required (Whalen and et.al., 2016). Its data will ensure that the market is segmented
properly, effectively and efficiently so that the customers which can be targeted are
identified. By identifying these customers Bentley Motors will make sure that it identifies
the customers of areas of Sweden which it needs to target so that its products reach the
identified customers. Thus in this manner the company can find out which segment of the
customers can be targeted particularly for its cars.
 Determination of financial value- Financial value which the customers hold needs to be
determined effectively so that the prices can be set. Bentley Motors has to analyze the
purchasing power which its clients have in the market so that it can take action
accordingly. This can be used by the company for determining the financial value of its
products and it can do so by setting a right price for its products.
 Creating and delivering message- A message has to be provided by the brand to its
various customers. Bentley Motors firstly needs to create that message and identify the
channels through which it can be delivered to the clients. It needs to give a right message
to the customers in Sweden which it can do by developing a creative message.
 ROCI- It is the Return on customer investment. Bentley Motors needs to identify it so
that goals and objectives of the company can be met as it can analyze how much it has
profited from investing on the customers. It needs to see whether the amount invested by
it in Sweden for customers is getting adequate returns or not.

 Budget, allocate, evaluate and recycle- For this step, Bentley Motors needs to
understand the three C’s which are Contribution, Commitment and Champions.
Contribution means the amount of money generated over time, Commitment means the
money generated compared to competition and Champions mean support, involvement
and advocacy of the brand. By this, the company can identify whether its tactics are
working in Sweden or not.
Using the IMC process, Bentley Motors can easily use the marketing
communication methods like advertising, digital marketing and sales promotion easily as
it can identify the techniques which it needs to use to apply these methods in the market.
Measuring marketing effectiveness
Marketing effectiveness is required to be measured so that a firm can identify whether its
marketing efforts have yielded the benefits or not. Bentley Motors can identify the effectiveness
of its marketing plans using the following approaches-
 Return on Investment- It is a technique through which the returns which have been
received on the investments can be measured accurately without any issues (Whalen and
Akaka, 2016). It can be used by Bentley Motors to find out whether its marketing efforts
to expand in Sweden have yielded the required results or not. It can be used through a
formula. The company is required to ensure that its ROI is good enough in Sweden so
that it gets decent returns.
 Cost per sale- Through this technique, a company can find out the cost which it has been
incurring in order to generate the sales. If the cost which the firm has been incurring is
more than what is should then rectifying measures can be taken immediately to reduce it.
This will ensure that the Bentley Motors has been incurring the costs within its budget.
The company has to see that how it can reduce Cost per sale in Sweden.
 Cost per lead- Through this technique, a company can identify the cost incurred by it in
generating potential leads. Bentley Motors can use it to identify the effectiveness of its
marketing campaign. The company has to see how it can reduce Cost per lead in Sweden.
 Conversion rate- Conversion rate technique can be used in order to find out the leads
which have been converted into actual sales. It can be very useful for companies like
Bentley Motors which can identify the effectiveness of its marketing campaign through
its usage. The firm needs to increase this rate which will lead to higher sales and more
revenues and subsequently the profits will be maximized.
 Incremental sales- Incremental sales are used to measure the contribution of marketing
efforts have towards the sales numbers (Zghidi and Zaiem, 2017). Bentley Motors can
use this technique so that it can find out how effective its marketing campaign has been in
generating sales in expansion of markets in Sweden. Incremental Sales has to be
increased by Bentley Motors to earn more profits in Sweden.

 Purchase Funnel- This technique can be used in order to find out and analyze the sales
leads generated with the help of marketing efforts made. Bentley Motors can use it to find
out the effectiveness of its marketing campaigns in generating the required leads for sales
in the different markets targeted in Sweden. The company can make sure that appropriate
sales leads are being generated in the country.
 Customer Lifetime Value- Using this technique, the lifetime value of the customers can
be easily measured without any problems. Bentley Motors should use it to find out the
value of its most-valued customers and clients. This will help in prioritizing these
customers by providing the best services to them so that they can help in maximization of
profits. The company can provide Customer Lifetime Value if its products are good
enough for the customers and provide the required satisfaction for their price tag.
 Multi-Channel Funnels and Attribution- In this technique, multiple channels can be
used attribution modeling can be applied. Bentley Motors can make use of this technique
so that it can get an overall view of the success of its marketing efforts and campaigns.
The company needs to see how it can use them in the right manner in Sweden and how
the profits can be maximized.
CONCLUSION
From the above report, it can be concluded that strategic marketing is a process which is
generally used by firms to get advantage in the market. There are 4P’s of marketing which can be
applied in the target market, CBBE model can help in finding out the value of brand among
customers, IMC can be used for using the techniques for marketing communication and
measurement of marketing efforts can be made using various types of tools.

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The Five Steps of IMC. 2018. [Online]. Available through:
<https://www.mstoner.com/blog/marketing-communications/the-five-steps-of-imc/>