Page 2: Marketing strategy
A strategy is a plan that enables an organisation to achieve its aims and objectives. For Infiniti, the key objectives of its marketing strategy are to improve brand awareness and increase share in new and existing markets. In terms of market expansion, Infiniti’s growth strategy focuses on countries where demand for luxury vehicles is high. For example China, Infiniti’s fastest growing market, has a new dealership opening every week.
Infiniti models are now available in 47 countries through 450 Infiniti Centres (dealerships). Key markets include North America, China, Russia and more recently Europe and Australia. Infiniti’s growth strategy will grow its product range from seven products to at least ten products in more than 70 markets. By 2016, Infiniti aims to have more than 800 Centres. The long-term aim is for growth that results in Infiniti achieving a 10% share of the relevant luxury vehicle market.
To achieve its objectives Infiniti needed to engage with a range of target groups. These included media, prospective dealers and of course, customers. A major part of its marketing strategy is formed around the exciting world of Formula One. In March 2011 Infiniti became the key partner to the Red Bull Racing team and, in November 2012, announced that it would become the title sponsor and exclusive technical partner to what is now known as Infiniti Red Bull Racing. Infiniti’s products and technology will support the F1 team from 2013.
Like Infiniti, Red Bull Racing is a relatively new organisation but has made rapid progress in Formula One. There is a clear link between what Red Bull Racing and Infiniti are each trying to achieve as both have a shared ambition for incomparable performance. This is known as brand synergy. Synergy is where the combination of two brands leads to results that are potentially greater than the brands would achieve individually. Infiniti’s customers stand out from the crowd. They are passionate about design and technology and they want the best possible performance from their cars – ‘Inspired Performance’. These qualities fit perfectly with Red Bull Racing’s core values of being creative, innovative and doing things differently.
The ‘strategic fit’ is excellent. This is where each organisation’s plans, target markets and other aspects of the external environment in which the organisations are operating closely relate to each other. For example, F1 already hosts a Grand Prix in many of the markets that Infiniti wants to target, including Australia, China and countries across Europe.