Product Profile

Figure: Developing Strategy for Growth

Rolls-Royce Ghost is a product development developing strategy for the Rolls-Royce Motors in order to capture growth.

Market Segmentation:

Market segmentation is to divide the market into distinct groups of buyers who have different need, characteristics, or behavior and who might require separate products or marketing program. A market segment is a group of customers who respond in a similar way to a given set of marketing efforts. Market segmentations are very important to find out which segment should be served in order to grab best opportunities. Rolls-Royce motor car company has also make market segmentation for serving or selling the Rolls-Royce Ghost.

The segmentation variables for Rolls-Royce are listed below:

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  Geographic segmentation:
  

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  Country: Rolls-Royce has targets just developed and first world countries for Marketing of Ghost
  
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  City: Rolls-Royce mainly markets their cars in cities where rich people lives.
  

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  Demographic Segmentation:
  

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  Income: The Rolls-Royce targets the segment of people who have a very high income and can afford a costly car like Ghost. Rolls Royce, as was recently revealed in the Los Angeles Times, only targets potential customers who have liquid assets in excess of $30 million.
  
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  Occupation: Rolls-Royce motors also check out the customer’s occupation. They target the segments that have a reputation and fame with his occupation.
  

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  Psychographic Segmentation:
  

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  Social Class: Rolls-Royce Ghost targets the upper uppers social class people to serve because peoples from this class would buy it to differentiate themselves i.e. Masons.
  
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  Life style: Rolls-Royce targets the persons whose lifestyle is very showy and rich.
  

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  Behavioral Segmentation:
  

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  Benefits: Rolls-Royce Ghost targets the segment of people who would like to have luxurious and speedy drive with simplicity of Ghost.
  

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  User Status: Rolls-Royce motor car company’s main targeted segment is the regular users because most of the times users replace their old model with a new model Rolls-Royce. It only targets potential customers who have liquid assets in excess of $30 million.
  

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  Loyalty Status: Loyal customers are most targeted segment of Rolls-Royce.
  
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  Attitude Toward Product: Rolls-Royce always target the segment of buyers who have a positive and enthusiastic attitude toward Rolls-Royce. For checking that, the officials of RR will go through buyer’s bio-data, past maintenance of his cars, his driving for a month and many other formalities. RR even fine their customers if they dive the vehicle rashly and resulting in an accident.
  

Market targeting by Rolls-Royce Ghost:

It’s impossible to serve all the market segments by a single product. So, after evaluating Market segments, the company should target a market segment. Target market is a set of buyers sharing common needs or characteristics that company decided to serve.

Most carmakers produce automobiles for a wide variety of customers and adjust their marketing strategies accordingly. Rolls Royce, as was recently revealed in the Los Angeles Times, only targets potential customers who have liquid assets in excess of $30 million. That segment wouldn't be considered a mass market, and so the way Rolls Royce sells a car is markedly different from other cars.

Rolls Royce, a long-standing symbol of position and nobility, Rolls-Royce has been an opulent favorite of the rich and famous ever since it was first manufactured via hand-assembly in England in 1904. Rolls-Royce stands as a lavish status symbol globally. Buy a Rolls-Royce and enjoy the best in car luxury and refinement.

So to Say, Rolls-Royce targets the extreme rich people who possess a royal, lavish and famous status and would like to have a luxurious, swift, calm and speedy drive and those who want a personalized car to feel the taste of uniqueness.

Differentiation and Positioning:

A company differentiates and positions itself by creating and promoting competitive advantages. Rolls-Royce motor cars do so in differentiating and positioning their product, The Rolls-Royce Ghost. Let’s have a look what competitive advantages they create:

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  Rolls-Royce provides the Symbol of Royal, lavish and famous pride.
  

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  Totally handmade and hand finished.
  

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  Rolls-Royce Ghost offers personalize car supply, as like as customers wish.
  
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  The New Rolls-Royce Ghost offers a more luxurious swift drive than others.
  
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  the car’s cabin gives off a luxurious aura that comes from the finest woods, wools and leathers assembled with the pride of English craftsmanship.
  

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  Quiet environment inside the car.
  

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  It’s become able to create a psychological expression of “Higher the price, better the car”. So it enjoys a competitive advantage of higher price than all of its competitive models like,2010 Ferrari California, 2009 Lamborghini Gallardo LP560-4, 2010 Mercedes-Benz S65 AMG, 2011 Jaguar XJ / XJL Super Sport, 2010 BMW 7-series.
  

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  Best after sales service.