Brand Extension Strategy for Bentley Motors Limited

PRINCIPLES OF
MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................1
METHODOLOGY..........................................................................................................................1
FINDINGS.......................................................................................................................................1
Existing brand and Brand Values................................................................................................1
Explanation of target market.......................................................................................................2
Analysis of New market, including trends- PESTLE analysis....................................................2
Explanation of new product with implement of Brand extension option....................................3
Comparative analysis of brand extension with competitive identified in new market sector.....3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
APPENDICES.................................................................................................................................6
APPENDIX 1 Kapferer’s Brand Identity Prism..........................................................................6
APPENDIX 2: STP Model..........................................................................................................6
APPENDIX 3: PESTLE Analysis...............................................................................................7
APPENDIX 4: TAUBER’S BRAND EXTENSION OPTIONS.................................................7

INTRODUCTION
Marketing is defined as an activity mainly emphasis on building strong brand image in
market so that maximum number of people are attracted towards their products and services. The
present report discusses the procedure of brand extension decided by Bentley Motors Limited
which is engaged in manufacturing and marketing of luxury cards and SUVs having
headquartered in Crewe, England. The company is expanding its brand by introducing luxury
watches in market place for increasing standard of higher income group of people. The net
revenue generated by Bentley Motors Limited in the year 2019 was £2,092 million (Global sales
revenue of Bentley Motors. 2020).
METHODOLOGY
The present study will be carried out by conducting secondary research where topic related
information are collected through different secondary sources such as books, journals, online
articles etc. Along with this, carrying out research on rivals’ strategies is also important to make
decision regarding brand extension in more successful manner at market place (Aas, Breunig and
Hydle, 2017).
FINDINGS
Existing brand and Brand Values
A brand is a logo, symbol or name which represents the distinct identity of company in
customers’ mind thus it is important for the management to manage brand using some effective
strategies. In this context, there are some models used for building strong brand image in market
which are discussed in brief as under:
Kapferer's Brand Identity Prism
According to this, brand perform their work with use of several creative and distinct
aspects. It exists in the form of a hexagonal prism that manage task with six different
characteristics in order to define the company brand. Top management and team of Rolls-Royce
utilise Kapferer's model to demonstrate products and services as a strong brand. This also aids
organisation to extend new products as per company goodwill and brand. Luxury watches are
introduced by Bentley motors to enhance and improve their market share (Bai and et. al., 2019).
Summary
1