Product Marketing Tools of Rolls Royce

Product Marketing Tools of Rolls Royce examines the brand using the marketing mix framework, which includes the four Ps (Product, Price, Place, Promotion). Product innovation, price strategy, promotion planning, and so on are all examples of marketing tactics. These business methods, which are based on the Rolls Royce marketing mix, aid in the success of the brand.

The Rolls Royce marketing strategy assists the brand/company in establishing a competitive market position and achieving its business goals and objectives.

Let’s begin by looking at the Rolls Royce Marketing Strategy & Mix to have a better understanding of the company’s product, pricing, advertising, and distribution strategies:

Rolls Royce product

The Rolls Royce product is a high-tech product that is being used in a very complex industry. The customers of this product are generally very rich and have an excellent taste for luxury.

Rolls Royce pricing

Rolls Royce has set a very high price for their products. Consumers may or may not pay that price, but it is a psychological barrier. Thereby Rolls Royce is able to keep its market share and prestige brand image.

Rolls Royce advertising & promotion

Rolls Royce has made a lot of advertisements with famous actors, singers, and celebrities. Since the brand itself is so luxurious they have to spend a lot of money on advertising and promotion. For example, Rolls Royce had 2.2 billion euros in advertising spending in 2011.

Major TV advertising campaigns have been launched by Rolls-Royce since the late 1990s, including “The Good Life” and “Spirit of Ecstasy”, featuring the voice of Joan Collins giving directions to the nearest Rolls-Royce showroom.

Product Marketing Tools of Rolls Royce

With this strategy, Rolls Royce wants to show the consumer that these cars are so special that they only want to be seen in an advertisement with celebrities or famous people. This will increase the awareness of the consumers regarding their products and they might buy one of their luxury cars because they would like to be like their idol.

For example, in the “Spirit of Ecstasy” TV ad with Joan Collins, she keeps saying: “Good afternoon ladies and Gentlemen I am your guide to the nearest Rolls-Royce dealer”. This is targeting consumers who want to own one of these cars but do not know where to find them.

This is effective because most people usually think about buying these luxury cars. Only when they win a lottery or when they get promoted at work.

So when they see this ad they might start thinking about buying one immediately (Cavendish). Creating these TV ads makes them more well known than any other brand in the industry which helps them get more customers than their competitors (Menezes).

Also, Rolls-Royce offers its customers services that are not provided by the competition. Such as a private jet service for owners who want to come for a visit or service their car at the factory (Stevenson).  One way in particular that this company advertises is through magazines such as “Vanity

 Fair” or “Vogue”. The company puts their cars in magazines, and people who read them are intrigued by how luxurious the cars look. This helped Rolls-Royce increase its sales and expand its market share.

Rolls Royce’s Marketing Mix

The marketing mix of Rolls Royce has played a role in its success over the years. Since its inception, it has made sure that its customers have always had an experience of luxury. No matter which product or service the company offers, it ensures that they meet the needs of its customers.