Bentley Motors: Brand Extension Strategies and Market Analysis Report

This report analyzes the brand extension strategy of Bentley Motors, focusing on the introduction of luxury watches. It begins with an introduction to marketing principles and brand values, followed by an application of Kapferer's Brand Identity Prism and the Ansoff matrix to understand the company's approach. The report then examines the target market segmentation, leveraging demographic and psychographic factors to reach the desired audience. A PESTLE analysis provides insights into the external environment, while Tauber’s brand extension options are evaluated. The report concludes with a comparative analysis of the new product line and its alignment with the Bentley brand, emphasizing the use of advanced technology and smart features. The report highlights how Bentley aims to enhance its brand image and market presence through strategic expansion and targeted marketing efforts, supported by relevant academic references.

PRINCIPLES OF
MARKETING
CW2

Content
 Introduction
 Existing Brand and Brand Values
 Kapferer's Brand Identity Prism
 Ansoff matrix
 Description of Target Market
 Analysis of new market, including trends-PESTLE Analysis
 TAUBER’S BRAND EXTENSION OPTIONS
 Comparative analysis
 Conclusion
 References

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.
Introduction

Existing Brand and Brand Values
• Brand refers to the name, design, term, symbol and other distinct
features which is used to create unique image and high goodwill for
seller in the front of buyers.
• It also distinguish about the organisation and their offerings are
more valuable as compare to the rival companies.

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.

Ansoff matrix
It is useful to apply such kind of
strategy at the time of expansion of
business at large scale into market.
This model contains four strategies
which includes market penetration,
market development, product
development and Diversification.

Description of Target Market
Segmentation- The market for watches is segmented as per four
different basis that include geographic, psycho-graphic, behavioural
and demographic. Bentley motors segment the market according to
characteristics and nature of products in order to match luxury
watches according to the needs and wants of customers.
Demographic aspects is more focused by management for expanding
the market of new products.

Analysis of new market, including trends-
PESTLE Analysis
Political: The political situations
of UK is stable that makes
easy for Bentley Motors
Limited to carry out brand
extension and achieve growth
in competitive market.

Tauber’s Brand Extension options
New brand: This strategy is mainly emphasis on introducing new brand into
market with an objective of getting an attention of public and increase
their financial position among their rivals.
Multi brands: Under this strategy, several brands are used in product
category. It facilitates with a method of segmenting within a particular
category, even when it is difficult to maintain such flanking brands in
addition with this association with parent brand.

Comparative analysis
Bentley motors is introducing the new section that consists luxury
watches for extending the brand. There are different watches will
have designed and developed with the use of latest technology that
feature smart aspects for attracting upper section of society.

Conclusion
It can be concluded from the above report that brand extension is an
effective way to uplift brand of an organisation in market. For this,
the management needs to undertake various theories and models in
order to make impact on public at large scale and develop brand
image among their rivalries.

References
Aas, T.H., Breunig, K.J. and Hydle, K.M., 2017. Exploring new service
portfolio management. International Journal of Innovation
Management, 21(06), p.1750044.
Bai, L. and et. al., 2019. Improving portfolio performance of renewable energy
stocks using robust portfolio approach: Evidence from China. Physica A:
Statistical Mechanics and its Applications, 533, p.122059.
Consiglio, A., Lotfi, S. and Zenios, S.A., 2018. Portfolio diversification in the
sovereign credit swap markets. Annals of Operations Research, 266(1-2),
pp.5-33.