Bentley Motors: Strategic Marketing Analysis for Sweden Expansion

This report provides a strategic marketing analysis of Bentley Motors' expansion into the Swedish market. It begins with an introduction to strategic marketing and its importance, followed by a detailed examination of the marketing mix (product, price, place, and promotion) as applied to Bentley Motors. The report then delves into the Customer-Based Brand Equity (CBBE) model, outlining the steps involved in building a strong brand. Integrated Marketing Communications (IMC) strategies, including advertising, digital marketing, and sales promotion, are discussed. The report also covers the process of measuring marketing effectiveness using various techniques such as ROI, cost per sale, conversion rates, and customer lifetime value. The analysis concludes by emphasizing the importance of strategic marketing for achieving a competitive advantage and achieving business goals, using references to support the findings.

Strategic Marketing

Table of contents
 Introduction
 Marketing Mix
 CBBE Model
 IMC
 Measurement of marketing effectiveness
 Conclusion
 References

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.
It helps in gaining a distinct competitive advantage over the competitors. This
presentation 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.

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. 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. 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. 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.

Continued…
 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.
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.

Continued…
 Promotion- Promotion is the last element of the marketing mix. It is required because
brands need to promote their goods and services in order to reach the customers.
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. 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.
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. 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.

Continued…
 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. The company has to make sure that it
receives the right response from the customers by the use of right tactics.

Continued…
 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. 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
. 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. 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 . 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. It can use these tactics in Sweden to raise its
sales and revenue.

Continued…
 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 steps which Bentley Motors
can take for it are as follows-
 Identification of customers- For adopting this step, proper market segmentation is
required . Its data will ensure that the market is segmented properly, effectively and
efficiently so that the customers which can be targeted are identified. 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. 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. It needs to give a right message to the customers in
Sweden which it can do by developing a creative message.

Continued…
 ROCI- It is the Return on customer investment. 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. 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. 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. The company has to see that how it can
reduce Cost per sale in Sweden.

Continued…
 Cost per lead- Through this technique, a company can identify the cost incurred by it
in generating potential leads. 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. 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. Incremental Sales has to be
increased by Bentley Motors to earn more profits in Sweden.

Continued…
 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. 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. 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. 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.

References
 Plouffe, C.R., Bolander, W., Cote, J.A. and Hochstein, B., 2016. Does the customer
matter most? Exploring strategic frontline employees’ influence of customers, the
internal business team, and external business partners. Journal of Marketing, 80(1),
pp.106-123.
 Shalender, K., 2017. Marketing flexibility measurement scale: conceptualization,
development and nomological validation. Journal of Strategic Marketing, 25(7),
pp.618-628.

Thank You