Lockheed Martin: A Marketing Perspective on Brand Success Report

This report provides an analysis of Lockheed Martin's marketing strategies, focusing on its unique position within the defense and aerospace industry. The report examines the company's history, founded in 1995, and its evolution into a global leader, highlighting how it has achieved brand recognition without traditional marketing efforts. It delves into the company's structure, including its operating systems such as defense, aeronautics, and security, and the factors contributing to its success. The report also discusses Lockheed Martin's major customers, particularly the U.S. government, and its key products like the F-35. Furthermore, it explores the competitive landscape, comparing Lockheed Martin with companies like Boeing, and analyzing their respective revenues and market positions. The report concludes by explaining the reasons behind Lockheed Martin's limited need for marketing, emphasizing its strong customer relationships and dominance in the defense sector.

Running head: MARKETING
Marketing
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MARKETING
It is widely said that a good brand needs no marketing. The same is in the case of
Lockheed Martin, one of the famous global defense and aerospace technologies company of
America. It was founded in the year 1995, i.e. nearly 22 years ago and is still serving the nations
by making outstanding military weapons to overcome their threat to national security and
defense (Petrescu and Petrescu 2013).
Lockheed Martin is comprised of several operating systems that include defense,
aeronautics, advanced technologies and security (Ewart 2014). Within 22 years of its operation,
the company has established itself in a way that in current era, it needs no advertisement and
marketing in order to sell its products. The brand has become widely popular in these areas and
people all over the world knew that the products not only exists but also serve its best. Though
marketing is the most vital component after the profit and success of a particular company.
Without proper marketing a brand or product, success of a company is next to impossible. In
other words, marketing is very much needed for each and every company to maintain its position
in the market. However, this super successful company is been around this field since 1995 and
it has become so popular in its overall business that it no more requires any kind of additional
marketing strategies to make people aware of its business.
With the same, it is also true that there is very less competitor of Lockheed Martin in the
market since, not very more company is operating its business in this field. It is the international
leader in defense related products. One of the largest consumers of Lockheed Martin’s products
is the government of United States. It stems about 80 percent of the total sales from it.
The F-35 is the highest profile product of this company and the country government is
the largest contract of this (Petrescu et al. 2017). Though there are many competitors of

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MARKETING
Lockheed Martin, existing in the market and that include Boeing company, BAE Systems Plc.,
Raytheon Co. and General Dynamics Corporation. Boeing is the biggest competitor of Lockheed
as both of them go hand in hand in terms of revenue and sales. However, still, Boeing is
considered as the first largest defense-related products makers in the country (DeGrasse 2016).
As of 2016, the total revenue of Boeing was 94.6 billion dollars, which is about 1.6 % less as
compared to 2015. On the other hand, the total revenue of Lockheed Martin was about 46.13
billion dollars and it has increased by 1.7% from 2015 and has also increased by 1.6% in 2017
(quote and Stockcharts, 2018).
One of the other major reasons behind the non-requirement of marketing of Lockheed
martin is that it knows who their major customers are and that they are well satisfied with its
products and services. It is for sure that the common public would not buy the defense products.
Only the military forces and the national security leaders would need such products and the US
government is its major customer from which this company is generating the majority of its
revenue.

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MARKETING
References:
DeGrasse, R.W., 2016. Military Expansion, Economic Decline: Impact of Military Spending on
United States Economic Performance. Routledge.
Petrescu, F.I. and Petrescu, R.V., 2013. Lockheed Martin. BoD–Books on Demand.
Petrescu, R.V., Aversa, R., Akash, B., Bucinell, R., Corchado, J., Berto, F., Mirsayar, M.,
Apicella, A. and Petrescu, F.I., 2017. Lockheed martin-a short review.
quote, L. and Stockcharts, L. (2018). Lockheed Martin Revenue Chart, LMT Revenue for 2016,
2015, Amigobulls. [online] Amigobulls.com. Available at:
https://amigobulls.com/stocks/LMT/stockcharts/revenue [Accessed 22 Jan. 2018].