BUS 496FINAL PROJECT

LUXURY MARKETING

PARTICIPANTSNecip Fazıl KESKİNKILIÇ

CEMİL ARAZEDA AKALIN

Luxury Brands’ Features

A global reputation – the brand’s world-class excellence is universally recognized

Association with a country of origin that has an especially strong reputation as a source of excellence in the relevant product category- England.

An element of uniqueness to each product – the imperfections of each hand blown crystal vase provide the assurance of exclusivity

Marque Pillars

racing driving power design craft

Market Segmentation

Aristocratic(4 door)Bentley

Rolls-Royce

Exotic(2 door)Ferrari

Lamborghini

Exclusive(Both 4 dr and 2 dr)

Ferrari, Porsche, Aston Martin

Mainstream (Both 4 dr and 2 dr)

Mercedes-Benz; BMW; Range Rover; Jaguar; Audi; Lexus; Porsche; (Aston Martin)

Glass Ceiling

Pinn

acle

57/62

£150K+

£100K - £150K

£60K -£100K

Luxury Car MarketEnzo

S600/500S55/E55

Z8A8 W12

456/575

Vanquish

911 TurboCarrera

360 DB7

M’lago

XKR

$/€200K+

$/€150 - 200K

$/€90 - 150K

Arnage

Phantom

3,000

XJR4200

3,400

CL600/500SL600/500CL55/SL55

760

96,000

Azure

S-ClassE55

Z8A8 W12

456/575

Vanquish

911 TurboCarrera

M’lago

57/62

XKR

£150K+

£100K - £150K

£60K - £100K

$/€200K+

$/€150 - 200K

$/€90 - 150K

Arnage

Phantom

Azure

Enzo

3,053

XJR4200CL-Class

SL-Class760

95,690

Target

Luxury Car Market

Continental GTContinental Flying

Spur

PRICEThe imagined price should be higher than the real/

actual price High symbolic valuePrice premium

Price range of Bentley has changed from445.000 € to 750.000 € in Turkey withoutmaking any addition (such as;modification, accessories and etc)

PLACEStore - visual merchandising , atmosphere of the store is very

important

Stores are the face of a brand, architecture of the store is important to communicate the brand with customer

PROMOTION

All the Bentley owners are privatelyinformed about the launch of newcar shows for new years withpersonalized letter signed by hand

Lunch EventsOtO MarketingPrivate EventCommunicate – do not advertise

According to the hobbies ofcustomers, Bentley inform theircustomers about new eventconcerning on different fields(such as; yacht fair, polo, auction)

While one customer is inBentley store, no morecustomer will be accepted onthis day, in other words, thisday is for just one customer.

During the birthday of Bentley owners and thebirthday of their cars, Bentley celebrate these days with gifts (specific to the client’s taste and hand signed letters

LUXURY’S 6 P’S

People – affluent consumers Product – quality, heritage, utilityPassion – collectors, shared communities, clubs, associations Pleasure – luxury is experiential, emotional, sensory fulfillment Purpose – letting customer to be a part of Bentley culture Price – premium, prestige of ownership

CUSTOMER VALUE FOR LUXURY BRAND, BENTLEY

Utilitarian – excellence and functional

Hedonic- aesthetics, pleasure, experience

Symbolic- self-expressive, social

New Customers

Their View of Bentley (historically) Their View of Themselves

Very British

Very conservative

Very “Establishment”

Very demanding

Brand experimenters

Very active lifestyles

Bentley Owners

•Experienced•Keen•Glamorous•Independent•Reserved

Owners and non-owners differ!

Non-Owners

• Professional• Adventurous• Inspirational

• Exciting

Where the biggest gaps occur between owners

and non owners

CUSTOMER

Reaching the right people

Pre-disposition to luxury

Income luxury

Asset luxury

Predominantly self-made wealth

Average age 54 years

$20 million net worth (in USA)

Accomplished, self-assured

Arnage & Azure Owners

52% own a collection of art

44% own a collection of cars

33% own a yacht / motor yacht

12% own a private / company plane

Greatest barrier to entry:

Am I old enough for a Bentley yet?

CUSTOMER

Predominantly self-made wealth

Average age 48 years

$3+ million net worth (in USA)

Less established, still on the way up

Less self-assured, less brand loyal

Continental Owners

30% own a collection of art

11% own a collection of cars – overall, fewer cars in garage

3% own a yacht / motor yacht

4% own a private / company plane

Greatest barrier to entry:

Will my friends approve?

CUSTOMER

Customers’ Addition Option Customer could easily choose the color of it’s car , if he/she don’t like the color range of

Bentley, he or she could also bring the color he or she wants.

Customer could choose the carmat from Bentley collections

Motor size, accessory, lightening could also be modified according to the choose of customer.

One of the biggest advantage of these options is to make customer feel that this Bentley is unique with your characteristics only,

LUXURY CUSTOMER SEGMENTSElitist

DemocraticDistant

6 LUXURY CONSUMER TYPESTrend innovatorsLabel LoversShopping JunkiesSecurity Seekers Affluent AltruistTrusting Traditional

“This is my 5th

Bentley

The salesperson was

“very helpful, very

responsive…”

“I got on with the manager and

salesperson very well”

“They provided the car spec I wanted very

quickly”

“ I would definitely

recommend

Bentley”

“The test drive was very good”

“They went about the purchase in a professional way”

“It was an absolute pleasure from the time I put down my deposit

to the delivery”

“They made life very easy for me”

“They offered me the best deal on the Bentley I was trading in”

“They were very helpful

and attentive.

I couldn’t fault them”

This is what our Bentley owners say about us…

Determined

Go the extra mile and exceed expectations-even in just small ways.

Be determined to reach the right peopleAnd committed to outstanding customer care.

Self-Confident

Always be understated, never showy, vulgar or arrogant.Adopt a one-to-one approach with customers and we needto have courage in our convictions when dealing with them.

Assured

We must honour the promise, build certainty and create peace of mind. Always professional, we want to leave a lasting impression that keeps thelegend alive.

Passionate

We must share our passion and belief in the Bentley marque and turn pride into process.Bring the passion of the designers and engineers into the retail experience to inspire new devotees.

Thank you for listening..