Marketing Strategy and SWOT Analysis of Rivian

Over the past decade, the world has been meeting lots of changes. Among those is the transition from traditional vehicles to electrically charging ones. The primary reason for this shift is to take a step toward potentially saving the world. That is because the environment has been suffering due to enormous waste. So, one of the companies that produce electric vehicles is Rivian. This company was founded in 2009 by R. J. Scaringe. This company is known for standing out from other car companies as it needs to have the looks and acts of car companies. This blog will take a glimpse into the story of Rivian. 

To begin with, we will look at the mission and vision statements of Rivian. 

The mission statement of Rivian is the following.

“Rivian is on a mission to keep the world adventurous forever. This goes for the emissions-free Electric Adventure Vehicles we build and the curious, courageous souls we seek to attract.”

Technology is developing, the world is becoming increasingly digitalized, and it gets easy to lose the sense of reality while experiencing everything else.

The main goal of Rivian is to make sure that it does its part in encouraging people to experience the various adventures of the world. The thought is wrong whenever it looks or feels like there is nothing new left to discover. 

That is because the human mind can find beauty and delight in everything it touches or feels. How Rivian plans to save the beautiful environment we are surrounded with is with its emissions-free vehicles. 

These cars will leave you with the least possible waste. While they may be a pricy purchase, they are worth every penny in the long run. That is because you will save money and the environment that you live in.

Rivian plans to reach people that have a sign of high courage and are curious enthusiasts. With a high level of curiosity, every individual will be willing to do something good for themselves and the others surrounding them.

Now, let us move to the vision statement of Rivian. 

Rivian does not have an official vision statement, but we can make inferences from its values.

Rivian’s number one vision is to bring people together. The company’s employees contribute to its goal of constructing a pollution-free environment. Eventually, this will be possible with more and more passionate consumers about this vision. 

The second aspect of Rivian’s vision is to let individuals ask questions. Whenever something needs to be clarified about Rivian, the company is open to providing thorough explanations and details regarding the queries. 

A leading trait of Rivian is to keep being open and honest. The goal of Rivian is not a one-night job. Hence, it is open to challenges and changes along with its lovely employees and loyal consumers.

Rivian’s products are well-thought-out. Interestingly, the first vehicle Rivian came out with was a product of 8 years. This only speaks about the devotion to doing something right and changing the world. 

Moving on, we are going to uncover the messaging strategy of Rivian. 

To do that, let us take a quick look at the Instagram post below.

In the photo, we see Rivian’s truck in the darkness with its beautiful lights. And that is exactly what captures the full attention of this post. It is about seeing and uncovering more details that would not be visible in the daylight.

The post has tagged Brendon Lutnick, a data scientist who took the photo. The caption explains what was going through Luntick’s mind when capturing this wonder.

The flashlight comes from the door of the Rivian truck. At first glance, the flashlight is not letting us see the truck’s details, but we see everything we need.

Lutnick captured the photo when he was using the truck for just a week. He was simply at his garage working, and he realized that he could see fog. That is where the truck’s lights came to the rescue and made the scene beautiful enough to capture. 

Lutnick not only loved the photo but also fell more in love with this truck. With this post, Rivian is letting its 613k followers into the experience of a user. 

So what can we gather here?

We know exploring and experiencing the world is essential for Rivian, and we are even more sure of it from this post. This photo lets us see a scene filled with the truck’s power.

Secondly, the experiences of Rivian are authentic, and we are even more certain of it from the post. That is because they allow users genuine experiences that will bring them joy. From the caption, Lutnick was pretty excited about the scene we were witnessing.

And lastly, this truck is suitable for the road, obviously, but it also fits for dangerous settings and when you are in nature. The problematic location, in this case, is the fog which tends to get scary and risky.

At this point, the only inference we can make is that the archetype Rivian belongs to is the Explorer.

So what do we know about the Explorer?

Desire: the space to discover who you are via investigating the world​

Aim: to partake in a more profitable, more genuine, more authentic life​

Strategy: journey, aspire and participate in new things, run from entanglement and boredom​

These are the messaging levels of the archetype.

Level One: Alienation, discontentment, restlessness, longing, boredom

Level Two: striking the open road, heading out into nature, researching the world

Level Three: pursuing your essence, to individuate, to evolve into a fulfilled human being

Level Four: communicating individuality and originality

The Explorer archetype is a great identity for your brand if:

• Your product lets people feel unrestricted, contrary or pioneering to a certain extent.
• Your product is robust and sturdy or is proper for utilization in nature, highways, roads, or treacherous settings or disciplines.​
• One can buy your product from the internet, a catalog, or other alternative sources.
• Your product or service allows people to voice their uniqueness (e.g., style, furnishings)​
• Consumers can purchase your products “on the go.”
• You desire to discern your brand from a thriving Regular Guy/Gal or other more conventional companies.​
• Most significantly, your company has an Explorer culture.

Next up, we are going to speak about the SWOT analysis of Rivian.

Strengths

Getting more demand for all-terrain vehicles: The company is known for its trucks which have not been that popular in the last decade. Now it has re-introduced all-terrain vehicles with a new touch, electric operation. This is by far the most notable strength of Rivian.

Funding by large companies: Other big companies have Rivian’s back with their financing. With these funds, Rivian has managed to initiate its products and services. In the long run, once it gains enough success, it could even become a corporation supporting another company. 

Extending government funding: The government is also interested in new technologies and electric vehicle infrastructure as this is a developing sphere. The more financial support, the better. That will allow even more opportunities for immense success around the globe.

Weaknesses

Infirm distribution network: The distribution and retail networks of Rivian are weak. Rivian sells directly to its consumers, and while this will help develop personal relationships, it may take away from potential ongoing development. Hence, the company requires a more diverse distribution network and collaborations with retail stores.

Focus on US customers: For the time being, Rivian is selling only to consumers in the United States. That is a considerable weakness because people from other countries would surely benefit from purchasing vehicles from Rivian. Other than that, Rivian’s goal is to change the world, not solely a continent. 

Shortage of electric vehicle infrastructure: As we already mentioned, the territorial focus of Rivian is on the United States. The country, in turn, needs more resources for electric vehicle infrastructure. This can result in time extensions for new developments, harming the company’s reputation. 

Direct consumer target shortage: We already mentioned that the company sells directly to consumers. However, for now, it lacks direct consumers, so it should be including more marketing tactics and strategies for new consumers.

Opportunities

Beneficial opinions regarding the electric vehicle industry: Most ideas are positive. People are all for saving the environment and shifting their lifestyles. Hence, the outlook for this sphere is generally advantageous and will allow for more developments, whether features or new vehicles.

Exclusive membership programs: As the company gets more and more loyal consumers, it can uniquely treat them. For instance, Rivian can create complete membership programs for its customers. 

New technologies: The electric vehicle industry’s specific sector is full of opportunities. As a comparatively new field, it is full of chances for more innovative technology. 

Threats

Environmental regulations: Gasoline-powered vehicles have a decreased rate for now because of environmental purposes. 

Industry uncertainty: The growth projections and predictions in the electrical vehicle industry are unknown. And hence, there is a huge question regarding the potential long-term conditions of Rivian.

Technology restrictions: While technology is innovative and open to new ideas and changes, only some have the power to be in charge. Hence, there may be some technical aspects that the company needs help to use.

Last but not least, we will reveal the segment Rivian has chosen to target.

Let’s first watch the video below.

Rivian vehicles are the world’s first electric adventure ones. We are simply following the routine of two people in this video and how they utilize their cars.

The video starts by showing us how the vehicle charges. Then, we witness its spaciousness with the ability to hold two travel bags, and not only. 

The video is beautifully shot, and it feels like we are following the adventure. The car rides at a bridge, in nature, and everywhere you would consider risky.

And this is how we are ensured of this vehicle’s powers. It can even act as a tent. 

So what does this ad tell us about the company? 

The first thing that we witness is the role of loved ones. These people are either friends, lovers, or family members. But what matters is that they are experiencing an adventure together. 

The second major hint is communication with nature. While it is true that the traveling is accompanied by the vehicle, obviously, the end goal is to step out of the car and enjoy the awesomeness of nature.

Balancers are the segment that Rivian has chosen to target.

Lifestyle and values: 

Generally, Balancers are positive individuals that tend to benefit from everything. 

This segment loves to consume information and work because it allows them to improve their lifestyle. But this leaves them feeling guilty. Their family time is limited when they spend a lot of time working.

Even when it comes to hanging out with friends, Balancers feel guilty because it again takes away time from family. 

As it is already apparent, Balancers love their family. They do everything in their power to help their family out. That is why work is also incredibly essential. 

Balancers are open to new challenges but also run away from them. They want their careers to keep developing. 

They realize that this focus on work might be hard on their family. That is why Balancers try their hardest to maintain a work-life balance.

This segment is a great team player but also works amazingly individually. 

Balancers always try to change something and improve the world. They adore contributing to socially aware corporations. 

This segment also pays massive attention to relationships. While they may have a packed social life when young, they shift to an entirely new person once they form their family. 

Balancers are loyal and stay in long-term, committed relationships, permanently resolving unwanted issues.

Attitude to shopping: 

Ads must be interesting and exciting to gain the attention of this segment. 

When Balancers hold enough information to know it is worth a try, they purchase from new companies.

When shopping, this segment pays the most attention to the quality of the items they buy. But sales and discounts, of course, are no harm. 

Balancers are also loyal consumers, so they stick to the companies they are satisfied with. 

They grocery shop typically once a week and prefer to do it with family members. Balancers are healthy eaters, which is why they also appreciate discounts on food. 

Interesting facts about Balancers:

Balancers

• Mainly revolve their hobbies around family time.
• Love to have a healthy lifestyle, hence exercise a lot.
• Enjoy outdoor activities, especially with family members.
• Love partaking in various events with family during the weekend
• ​Like calming activities, watching movies, and reading books.
• Watch traditional TV most of the time.
• Use the internet a lot for various purposes. 
• Must always be in tune with what is going on in the world.

And that concludes the blog. We spoke about Rivian, an electric vehicle manufacturer. We mentioned its mission, vision, archetype, SWOT analysis, and segment. If you want to read more blogs like this, stop by our main website.