Marketing mix – Infiniti
Infiniti, originally set up in the United States in 1989 by its
Japanese parent Nissan Motor Company, produces luxury performance cars, coupés, crossovers and sport utility vehicles (SUVs). Its brand promise is ‘Inspired
Performance’. A brand promise represents the benefits and experiences that a consumer can expect from a particular brand. The luxury car market is highly competitive. As
Infiniti is a relatively new entrant into this market it required an innovative and creative marketing strategy to create global awareness of the brand and its brand promise. For
Infiniti, Formula One is a key element of this creative strategy to build global brand awareness.
The marketing mix, often referred to as the ‘four Ps’, is a means for organisations to combine the four key elements of product, price, place and promotion to achieve its business objectives. Every business is different. Each must decide on its own marketing mix that balances the four Ps to suit its products.
Infiniti’s marketing mix considers:
• Products - luxury cars with Japanese cutting edge design as a key differentiator.
• Price - a premium price in line with the premium quality of the product.
• Place - vehicles sold through state-of-the-art Infiniti Centres which are expanding globally.
• Promotion - with a focus on sports marketing using the Infiniti Red Bull Racing F1 team and World
Champion Sebastian Vettel.
The elements of the marketing mix should be integrated. For example, Infiniti’s luxury cars are sold in state-of-the-art Infiniti Centres that complement the premium quality of the vehicles. Having the right marketing mix enables an organisation to achieve its business objectives. Infiniti’s business objectives include increasing brand awareness, international growth and meeting its brand promise.
The price of a product needs to reflect the costs