Renault Marketing: Strategy, Drivers, and Adaptation Analysis

This report provides a comprehensive analysis of Renault's marketing strategies, focusing on its product, pricing, place, promotion, people, process, and physical evidence (7 Ps). It examines the drivers of the market, including customer decision processes and segmentation, while also highlighting upcoming changes, particularly the rise of electric vehicles. The report evaluates Renault's need to adapt to these changes and recommends strategic adjustments. These include developing electric cars, offering competitive pricing and promotions, and enhancing digital marketing efforts. The conclusion emphasizes the importance of adapting to technological advancements and maintaining a customer-centric approach to remain competitive in the automotive industry. The report is based on the provided references from various marketing textbooks and journals.

MARKETING

Table of Contents
INTRODUCTION...........................................................................................................................3
Marketing Strategy of 7 Ps..........................................................................................................3
Drivers of the Market-.................................................................................................................4
Upcoming changes in the market................................................................................................5
Evaluation of how the company needs to adapt these changes...................................................5
Recommended strategy for Renault............................................................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Marketing is the action or business of promoting and selling products or services, including
market research and advertising. Renault is a French multinational automobile
manufacturer established in 1899. The company produces a range of cars and vans, and in the
past has manufactured trucks, tractors, tanks, buses/coaches, aircraft engines,
and autorail vehicles This report highlights the questions such as the marketing strategy of
Renault, what changes they need to adapt or evaluation of the strategy with drivers of the market.
Marketing Strategy of 7 Ps
Product-
Renault sells their cars under 5 categories but each of these category serves their product
in separate product lines. They have a lot of variety available for every type of consumers and
according to their suitability. The products they offer are highly differentiated from their
competitors and the features they offer are also advanced and developed. This is the reason why
their cars are considered to be unique. Their customers are ready to pay high prices for their cars
as they believe that their quality is better than everyone else. They make the design of the car
which is practical according to their daily use and in a traditional manner. (Kotler and et,al,
2018.)
Price-
Currently the company follows competitive pricing strategy as there are many
competitors in this industry. The company charges higher prices for their products because they
offer more features as it is necessary for them to cover up the profit margin.
Place-
Company sells their products with the help of two channels that is online and another
with the help of franchisee. The company faces a huge amount of traffic on their website that is
why they have partnered with other companies so that they can make their delivery on time.
(Lovelock and Patterson, 2015.)
Promotions-
To promote their products the company takes the help of many tools such as TV and
radio. This helps them to acquire the attention of large no. of people. The company takes the help

of various events and trade exhibitors. They use personal selling in order to increase the sales
they made through their retail stores.
People-
The company has hire sales people who have appropriate skills for the job. They have a
lot of experience and they have been trained with techniques which are persuasive. The company
has set a specific department for customer service. They engage in conversation with the
customers so that they can convince them into making a purchase. (Wilson and et.al., 2016)
Process-
The company has set up a process of online delivery which states that the company will
deliver those products at home for which they have received the orders online. The company has
set up a process of feedback which helps to improve the area where customer is not satisfied.
Physical Evidence-
Company has a website through which they sell their products and allows their
prospective customers to check their cars from different angles with quality images. (Kotler and
et.al., 2015)
Drivers of the Market-
Customer Decision Process-
This process involves the consumers which will help them to gather the useful
information, identify their needs and evaluate all the available alternatives which will help them
to take a decision for making a purchase. Renault must remember that the customers are
educated which means that they can gather the information which is useful and suitable to them
according to their budget and their needs. The decision which the consumers take are on the
basis of the condition of the economy and their preference. They will analyze every aspect before
finalizing a decision for making a purchase.
Segmentation-
Renault does not have a fixed segment for the cars they offer as they offer their cars in
every segment such as sedan, hatchback, compact SUV, SUV, MUV, so they have to find the
appropriate buyers for the suitable segment as it will help them to increase the sales of every
model they deal in. More successful portfolio will help them better image and more share in the

market. That is why company has no particular segment they have cars which are exclusively
made for businessman, families or people who are enthusiast. (Kotler and et.al., 2017.)
Upcoming changes in the market
The most dynamic change which will revolutionize the whole automobile industry is the
change of electric cars. To cope up with the factors of environment and give a tough fight to their
competitors company needs to take initiative to follow up with this change. It is necessary for the
company to think and preserve the environment. People are already looking forward to it and
some of the companies has even started selling electric cars in their product portfolio. This is a
major concern for Renault. Even the government of various countries are providing various
benefits to manufacture these cars. They are giving tax exemption or easy flow of resources
which is hard to get in any other situation as government does not support easily and that is why
Renault needs to start working on this project and come up with a prototype in the expo so that it
will help them to survive in the market and over that it will help them to acquire the share of
other existing companies.
Evaluation of how the company needs to adapt these changes.
The company needs to introduce products with low prices or introduce cars for the
budgeted customers so that they can open up a whole new market for them and it is a big
opportunity to capture that market. Company must keep up the buying patterns and their
behavior so that they can make or formulate their strategies according to them. Renault needs to
take initiative and step up so that they can be prepared for the upcoming trends and future of the
cars which is electric cars and cars with autonomous driving. Company needs to work on that as
a large amount of people is waiting for that and if they are in the list of beginners who provides
or manufactures these products it will help them to gain the market share. If the company does
not follow up with these trends then it will be difficult for them to maintain their operations and
survive in the market.
Recommended strategy for Renault
Product-
The company must start working on electric cars as the environment is changing and
there is a need for rapid development. Over that they must give more benefits such as after sales
service, warranties, helpline services for their customers. They must add more cars in their
portfolio in order to cope up with new trends in the market and the needs of the customers which

will satisfy them. The company has to start looking for the opportunities which has a wider
scope. (Kerin and Hartley 2015.)
Price-
Company has to start giving benefits such as discounts or offers for a specific period of
time so that they can grab the attention of the customers and will increase the share in the
market. In order to do that company needs to reduce the price and start earning on volume of
sales. For the new products company must imply penetration strategy which will help them to
reduce the price of their entry level models and enter into the market with prices lower than their
competitors. (Keegan, 2017)
Place-
Company must focus on retail outlets in order to increase their sales or start up their own
chain of stores on which they have full control and can offer all of its products which will also
help them to save the margin they share between the dealers and the suppliers.
Promotion-
Company must remain in touch with their existing customers and make them aware about
their offers so that they get to keep their buyers as loyal. Company must start using the technique
of digital marketing to promote their products. They can also start the campaign where they
advertise their products repeatedly with the same message so that they can cover all the
platforms of media. This aspect will also help the company to increase their image in the brand
in the eyes of targeted customers. (Chaffey and Ellis-Chadwick, 2019.)
CONCLUSION
From the above studies it has been concluded that Renault offers a wide range of products to
satisfy their customers needs and wants. The company has made products available in all the
segments for all the customers because they have no particular targeted segment they have made
their products for everyone such as businessman, families and enthusiast. All they need to do is
they need to make changes in their portfolio and start working on cars which runs on battery and
which offers autonomous driving. Company needs to cope up with the technological factors and
keep a focus on their pricing strategy. They have to introduce new cars with the penetration
strategy so that they can grab the attention of more customers.

REFERENCES
Books and Journal
Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.
Keegan, W.J., 2017. Global marketing management. Pearson India.
Kerin, R. and Hartley, S., 2015. Marketing: the core. McGraw-Hill.
Kotler, P.,and et.al., 2017. Marketing for hospitality and tourism.
Kotler, P., and et.al., 2015. Marketing. Pearson Higher Education AU.
Kotler, P., and et,al, 2018. Marketing management: an Asian perspective. Pearson.
Lovelock, C. and Patterson, P., 2015. Services marketing. Pearson Australia.
Wilson, A., and et.al., 2016. Services marketing: Integrating customer focus across the firm.