Product Profile

Abstract

This assignment is on Marketing Strategy. This paper consists of the marketing strategy of Rolls-Royce Ghost, which is the latest model of Rolls-Royce motor car, one of the most famous motor car brands in the world. This paper consists of product profile, market offering by this product, environment affecting this product, marketing mix, segmentation, targeting, and differentiation and positioning, SWOT analysis, Product classification, branding, pricing strategy and sales promotion of this product. This paper also offers the answer of some question, for what the customers will buy this product, how they capture value from the customers and so on.

Product Profile

The Rolls-Royce Ghost is smaller luxury 4-door saloon automobile from Rolls-Royce Motor Cars. The "Ghost" nameplate, named in honor of the Silver Ghost, a car first produced in 1906, was announced in April 2009 at the Auto Shanghai show. Ghost is the essence of Rolls-Royce in its simplest, purest form. Every inch delivers on the power of simplicity. The new Rolls-Royce Ghost is the Phantom’s baby brother, although it’s hardly little at more than 212 inches long. Powered by a engine which is a 6.6-liter, direct-injection, twin-turbo V12 with variable valve timing producing 563 horse-power and 575 pound-feet of torque mated to an eight-speed automatic transmission. The car weighs 5,445 pounds (2,470 kg). Its length-height ration is 2:1.Rolls is predicting a 0-to-60-mph time of around 4.7 seconds. The Ghost was designed by Ian Cameron and Charles Coldham (interior) and engineered by Helmut Riedl. Manufacturer of this car is Rolls-Royce motor car company which is a concern of BMW group; Germany. The production model was officially unveiled at the 2009 Frankfurt Motor Show.

Rolls-Royce Ghost -A want:

Want is something a person would like to have. Wants are the form of human needs take as they are shaped by cultural and individual personality. Though Rolls-Royce Ghost is designed as a less costly model than the previous model ’Phantom’, still Rolls-Royce is one of most costly cars. A car is not a ‘need’ for a general income person or less busy person but it is a ‘need’ for a busier person who can afford a car. But a Rolls-Royce is only luxurious cars which have a costly brand value. So a Rolls-Royce Ghost can never be a need, it’s a want for those who can afford it in the other words, who have demand for it.

Market Offerings by Roll-Royce Ghost:

Market offerings are some combination of product, service, information, or experiences offer dot satisfy a need or want. The Market offerings of Rolls-Royce Ghost are stated below…

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  Luxurious drive with simplicity:
  

Rolls-Royce is a renowned motor car brand that offers always luxurious drive. Roll-Royce Ghost is not exception at all. But with luxury it offers a lower price than the previous model of Roll-Royce Phantom. Ghost is the essence of Rolls-Royce in its simplest, purest form. Every inch delivers on the power of simplicity.

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  Handmade and hand finished Personalized features:
  

Rolls-Royce is not only hand built but also hand finished, and through the bespoke program, each car is customized to meet individual standards and satisfaction, including personalized features, such as your initials engraved in 24-carat solid gold interior features. It’ll be delivered according to how the customer demands it so the customer can get unique ownership experience.

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  Royal and Lavish Status:
  

The name of Rolls-Royce comes with the royal essence because it is the opulent choice of the rich and famous from the very first production of its car and Roll-Royce ghost is not an exception. Rolls-Royce Ghost stands as a lavish status symbol globally.

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  Dynamic drive, Spirit of Ecstasy, and surge of power:
  

The Rolls-Royce Ghost also offers multi-sensory experience, more dynamic drive, Spirit of Ecstasy, and endless surge of power. Its new 6.6-liter V12 engine will produce 563 horsepower and 575 pound-feet of torque remains whisper-quiet even when accelerating. All that power is sent to the rear wheels through an eight-speed ZF transmission. The result is a 0-60-mph time of 4.7 seconds and an electronically limited top speed of 155 mph.

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  Best after sales service:
  

The Rolls-Royce motors offer the best care of your car after sales service by the most talented technicians of the world.

Environments affecting the marketing of Rolls-Royce Ghost

All of the components of micro and macro environment affects more or less to the marketing strategy of any product. For that, all of the forces of macro and micro environment do not have the same affect on Rolls-Royce Ghost’s marketing strategy.

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  Major actors in the Ghost’s microenvironment:
  

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  The Company: The company’s decision affect Ghost’s marketing
  
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  Competitors: Rolls-Royce has to create greater customer value and satisfaction than the competitors.
  
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  Publics: Marketing Strategy of Ghost should be affected by the financial people, Media publics and Internal publics.
  
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  Customers: Customers are the most important actor for Ghost. Rolls-Royce pays special attention to the customer’s demand and supply personalize car for the customers.
  

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  Major factors in Ghost’s Macro environment:
  

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  Economic environment: The factor that affects the Rolls-Royce most that is the economic factor. Rolls-Royce Ghost operate their marketing activities most where peoples are rich and over rich e.g. Hong-Kong, Manhattan etc. it's definitely not cheap. Most expensive but luxurious car in the world. So the economic factor is most important.
  
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  Technological Environment: Rolls-Royce Ghost are marketed in the areas which are technologically developed. It is marketed where the company can easily provide the after sales service to the customers.
  

Product development by Rolls-Royce Ghost:

Rolls-Royce Ghost is a new model car manufactured by Rolls-Royce motors. They design this car for luxurious drive and as cheaper re-model of Rolls-Royce Phantom. The Customers of Rolls-Royce are mainly fixed. Rolls-Royce always tries to develop and maintain customer equity so that the market of Rolls-Royce is almost same all the time. The customer of the Rolls-Royce is rich and famous, and most of the times they replace their Rolls-Royce by the latest model, so Rolls-Royce Ghost is a new product in an existing market. The Rolls-Royce motors use develop this ghost model for maintaining the company growth.

The model they used is shown below with a chart:

Existing Product New Product

E Existing Market New Market	Market Penetration	Product Development
	Market Development	Diversification