Marketing Strategy and SWOT analysis of Rolls Royce
Rolls-Royce is a recognized automobile brand, always providing luxury driving. With its activities in 135 countries, the Rolls-Royce Group is a multinational company. Around 40,000 individuals work in diverse businesses, from marine and energy sectors to civil defense airspace. Rolls-Royce worldwide is known and renowned because of its clients’ high quality, reliability and high technology supplier. To understand how this automobile brand manages to keep its high status, we will do a deep Marketing and SWOT analysis.
Before we dig deeper into the analysis, we first identify the Mission and Vision statements of RR Motor Cars.
The Mission statement of Rolls Royce Motor Cars is the following: “better power for a changing world”.
The main message from the company’s mission statement is that their business model is based on their core strategic customer topics, innovation and profitable expansion. They’re a corporation with two power systems, gas turbines and reciprocal motors. On behalf of customers, continuous innovation investment provides improved products and services. Thus, they manage to satisfy their customers and profitably benefit their stockholders.
Around the fundamental strategic topics of the model, the Rolls Royce company establishes vital market routes that are built on customer connections.
It is not a secret that Rolls Royce Motors built its reputation by developing and delivering world-class engineering. Their R&D creates high-value intellectual property that allows them to compete globally.
The Vision Statement of Rolls Royce is: “to create the automotive equivalent of haute couture“.
Haute couture is a French phrase (literal translation high sewing/high dressmaking) that means creating exclusive custom-fitted clothing. Haute couture includes clothes constructed by hand, using expensive, often unusual fabric and sewn with attention to detail. To successfully do their job, the professional sewers often use time-consuming, hand-executed techniques.
It should be mentioned that the company chose an exciting and unique way to describe the attitude of their employees towards their job. At first, it might seem that the design of the clothes has nothing to do with the design of vehicles. However, the attitude towards the work itself is the same; in both cases, professionalism plays a significant role, considering the small details is very important.
Now we can go ahead and take a look at the position strategies the company uses for their branding.
Via different Social Media platforms, including their website, Rolls-Royce Motor cars always show their customers what new design or tech features the new models of cars have.
Moreover, today, technologies develop every day. Every day, scientists develop new ideas and theories to make things work faster and more efficiently.
Obviously, in such circumstances, the competition between different companies is very high; they must work very hard to save their high statuses, satisfy their clients and keep up with the ‘updates’.
For instance, in this post, the customers could observe in detail what the new model of the car looks like and the new range of colours that the company uses. And it seems like the company’s main point was to make their customers look closely at the range of colours they have chosen.
It’s fascinating, indeed. Here, for instance, we have yellow and purple colours. If we look at them from symbolic perspectives, these colors stand for courage and trust, primarily due to the yellow effect.
The solid and joyful color of yellow is called. It is a color representing optimism, trust and certainty. It accentuates the authoritative force of purple when it’s set against purple.
The Brand Archetype Rolls-Royce focuses on is the Magician.
Desire: know how the world or universe functions basic laws.
Goal: make dreams happen.
Strategy: build and live the vision.
The messages that we get from the Magician Brand Archetype are the following:
Level One: extrasensory or synchronous experiences hunches.
Level Two: magical transformation moments and experiences.
Level Three: the experience of flow.
Level Four: moving from vision to manifestation.
The Magician Brand Archetype sorts with brands only if:
- the product or service is transformational in its implied promise to transform the consumer or cultural creator that it calls to New Age;
- it serves to increase or widen awareness;
- It’s an easy-to-use technology;
- has a psychological or spiritual part;
- it’s a modern and new product;
- the price of the product is changing from medium to very expensive.
Now, we will do a deep SWOT analysis of Rolls Royce Motor Cars.
Strengths:
Brand Image: Rolls Royce cars are the final word in luxury and are always closely linked to quality and performance. This brand image helped the brand to charge its cars with a premium.
The ‘parent’ company’s support: Rolls Royce cars are technically supported by the parent corporation, which has consistently studied and improved the technology through the years. The parent corporation is the greatest strength of this alliance.
Higher design: Rolls Royce Cars are also masters in interiors and have developed the art of top-class design in luxury cars. The construction quality is outstanding, and the motor and chassis are superior.
Variants of luxury: Rolls Royce brands are popular amongst the premium automotive segments: Phantom, Phantom Drophead Coupé, Phantom Cupe and Ghost.
Competent staff: In the company, staff are highly trained and competent in their respective fields, and most employees work with Rolls Royce.
Pan-World Presence: Rolls Royce is a worldwide presence in over 50 nations, and its clients operate in 180 countries worldwide.
Weaknesses:
Symbol of the status: Rolls Royce is considered a luxury brand, with considerable status and respect associated with it. It is seen as a vehicle for the rich guy, and hence for the poorer classes, it is not cheap.
Design of Evolution: Over time, the design of cars Rolls Royce has developed, and therefore the different cars look like clones of a single model. Customers that purchase Rolls Royce cars are those whose design and style are like the brand.
Prices are exorbitant: Rolls Royce Cars are at the highest price, and they can’t be affordable for most clients. It only targets specialist segments and, therefore, a tiny customer.
Dependence on the purchase repeatedly: Rolls Royce cars are luxury cars aimed at a small set of clients and rely on customer loyalty and re-establish business.
Opportunities:
Innovative automobiles technology: Automotive technologies are increasing, and self-driven cars are the most significant trend nowadays. This gives luxury vehicles like Rolls Royce a new potential. Companies are also seeking to incorporate new-age technologies such as IoT, machine learning, and data links, and new brands will be added. For luxury cars, this is a great chance.
Focus on automation increased: There is much study on constructing self-driven automobiles in automotive businesses. The focus on automation is expanding, and luxury automobile firms can benefit from this opportunity more efficiently than traditional car companies.
Customer expenditure is increasing: The client nowadays has no shortage of money, and the number of double-income families is increasing. This creates additional money to spend on your choice of transit.
Custom-tailored: Customers are prepared to pay the car price they want. This creates an increasing demand for personalized cars, which Rolls Royce may take.
Concentrate on low-cost, hybrid and green: The greater emphasis on green and hybrid vehicles can provide higher-end vehicle manufacturers and established automobile brands like Rolls Royce a wonderful chance.
Threats:
Concentrate on sustainable development: Sustainable transport options cause severe problems globally as the current automobile system is not environmentally sound. But sustainable cars are expensive.
High competition: Brands such as BMW, Mercedes Benz, Audi and Lamborghini compete for Rolls Royce.
High costs: The cost of raw materials is rising, as is the cost of fuel. Research into future choices for vehicles is also costly.
Now, we are fully acquainted with the SWOT analysis of Rolls Royce Motor Cars. The importance of each component impacts the company’s success, regression and digression. The company needs to take care of this to know the threats it faces inside and outside the company.
Finally, let’s discover what kind of Rolls Royce Motor Cars clients prefer to serve.
To do so, let’s watch one of their commercials:
Rolls-Royce Ghost Series II. No Ordinary Power – YouTube
The “Silver Ghost” from Rolls-Royce is widely regarded as one of the leading cars ever created. It was created between 1907 and 1926 and still travels the road with thousands of specimens of this remarkable car.
This was Rolls Royce’s first widely manufactured car. The real name can be perplexing because it relates to a type of car manufactured by Rolls-Royce and a specific type of car in the series.
In 1906 Rolls – Royce Limited was renamed, and during the Olympia Motor Show in December, the now-iconic “Silver Ghost.”
During the First World War, the enterprise would start production of aero engines first, a step that would further solidify them as one of the most trusted civil and military engine makers of all types.
As the company always prioritizes the feedback and the reviews that their customers leave for them. They always try to ‘win their customers’ hearts’, which has happened in this case.
The team made the Ghost simple but wild and powerful at the same time. It perfectly fits in any sphere of the customers’ profession, and it supports the look.
Interestingly enough, intentionally or not, whenever we talk about cars, we associate this vehicle with men only. Rolls Royce Motor Cars break the gender stereotypes – they care only about prioritizing and highlighting their customers’ spheres of work.
Both men and women look equally powerful, and this commercial is proof of that.
Rolls Royce is made for people who work a lot towards reaching high career goals and care a lot about their image; precisely, they want to be seen as successful. Thus, RR Motor Cars target Fullfillers.
Here are some interesting facts about them:
– There is a continuous drive towards the career that they follow. For them, work is not just a job to do, and it’s self-actualization.
– They are always aware of the challenges and dangers they might face.
– They always seek to create new business organizations/companies and plans.
– Fulfillers keep up with the development in technologies. They love buying new appliances and for them being high-tech is a crucial factor for reaching success.
– They like getting out on the weekends; they love active relaxation as for them it’s a crucial element of living an entire life.
– Fulfillers are socially very active. Very often, they go out with their friends to cafes, wine bars.
– They use a wide variety of brands, however, mainly premiums – they don’t care about the price a lot. These people are ready to pay extra to get a high-quality product.
Fulfillers tend to make quick decisions, which is an excellent chance to do their shopping impulsively.
– Sporting, entertainment, financial, fillers read a lot. They are interested in technology, subjects, motorcycles and cars. Healthcare and the gym and sports are critical problems in their lives.
– Fulfillers utilize the Internet as your first source of information. Booking applications, banking, shopping and different debates are quite handy. They just watch television for certain shows like soccer matches or news broadcasts.
In short, we have analyzed in-depth Rolls Royce Motor Cars’ marketing strategies and SWOT. We have emphasized the target segment of the company, its strength, weaknesses and dangers. This will hopefully help you understand better what RR Motor Cars are and how they work.
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