With the support of General Motors (GM) marketing mix, the automobile sector business
grows. The 4Ps (Product, Place, Promotion, and Price) of a company's marketing mix define
the tactics and strategies used to reach the target market. The multi-tiered strategy employed
by General Motors focuses on the company's product lines and regional vehicle markets.
Sales and market share are the company's primary goals. General Motors is a good example
of how to design a marketing mix to take advantage of possibilities in the automotive
business. GM's strategic decision-makers, on the other hand, must provide room for
manoeuvrability in pertinent plans. Flexibility in the marketing mix, for example, should
allow it to be tailored to meet the specific needs of the global vehicle market. General Motors'
mission and vision statements may still be used despite changes in the target market because
of this flexibility.
General Motors offers a wide range of options for expansion in the automobile industry,
including items that include modern computing technology. However, the company's
commercial environment is rife with risks. An effective way for managers to cope with these
dangers and opportunities is to do a SWOT analysis of the company. For example, the
strategic goal should support GM's continuous expansion and quest for industry leadership
while leaving sufficient flexibility to solve market difficulties faced in operations.
Products Made by General Motors (Product Mix)
This component of the marketing mix is concerned with the company's products or services
as a whole. A product line is a grouping of outputs or products that may be seen as a whole.
The product mix is a list of all of the company's product lines. There is a lack of business
diversity in General Motors' product mix. Many various automotive brands and models are
available through the company's extensive product line. General Motors' product lines
include the following:
Parts of automobiles
Vehicles used for business
monetary assistance
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Automobiles are a well-known brand name for General Motors. Vehicles like GMCs and
Buicks are available to customers all over the world, for example. Parts for the numerous cars
made by the firm are also available. General Motors' passenger-carrying commercial vehicles
fall under the category of commercial vehicles. For example, Chevrolet's commercial
vehicles include trucks and SUVs that have been adapted or specialised for business use.
Automobiles, car parts, and commercial vehicles are all considered automotive products.
Financial services, on the other hand, make up the fourth product line. A division of General
Motors called GM Financial provides these services. When clients buy cars, the firm offers
these financial services to help them get the most out of their loans and other connected
activities. Despite the company's lack of business diversity, it is able to optimise earnings
from its transactions by mixing automobile items with appropriate financial services
strategically.
In GM's Marketing Mix: Place/Distribution
The virtual and physical sites of transactions are taken into account in this part of the
marketing mix or 4Ps of the General Motors Company. As a result, these sites are important
since they let the corporation contact certain clients in specific areas while also providing
customers with information and GM goods from the automobile industry. General Motors
products and services are distributed in the following locations:
Governmental web pages
Dealerships
Exhibitions and displays of automobiles
GM's many business units each have their own official webpage. For Chevrolet, GMC, and
Buick, the firm, for example, maintains separate websites. In addition to the company's
official website, Cadillac maintains its own. Customers may view product information and
identify dealers via these websites. Customers can transact with dealerships since they are
approved partners of General Motors. Car buyers and GM Financial clients sign contracts for
financing their purchases at dealerships. Additionally, General Motors participates in
automobile events and exhibits. As a result of participating in these events and displays, the
firm is able to expand its market reach and distribution. General Motors' general strategy and
aggressive expansion goals are supported by a mix of online and physical channels in this
area of the marketing mix.
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The General Motors Company's Promotion (Promotional Mix)
This part of the 4Ps marketing mix for General Motors takes promotional activities into
account. Marketing communications tactics refer to these actions. The term "promotional
mix" or "marketing communications mix" refers to the combination of various strategies.
Promotional efforts employed by General Motors in the automobile industry include the
following:
Promotion (primary)
Promotional materials sent directly to consumers
Selling goods or services on the side
Publicity for a product or service
Public relations (PR)
General Motors relies heavily on advertising to promote its products. As an example, GM
uses a wide range of media to promote their vehicles, including internet and print media. GM
is able to reach a vast number of potential buyers in the global, regional, and domestic vehicle
markets thanks to their commercials. Direct marketing is another tool used by General
Motors to better serve individual clients. It helps the corporation achieve its goal of serving
corporate clients by selling commercial cars through direct sales. On the other hand, personal
selling usually takes place in dealerships, when GM salespeople convince clients to buy cars.
Discounts and freebies are sometimes used to entice buyers to dealerships as a kind of sales
marketing. Sponsorships of charitable activities and events also serve to promote GM
products and brands while also boosting the company's commitment to CSR through public
relations. However, other promotional strategies are equally important in this component of
the marketing mix.
Prices and Pricing Strategies of General Motors
The pricing of the company's products is the most important part of the marketing mix in this
regard.. In price-sensitive marketplaces, the perceived value of brands and goods is
influenced by pricing, which has a direct impact on sales. These are the price tactics used by
General Motors to sell its automobiles:
Pricing plan based on the market's needs
Strategy for charging a premium
It is the goal of General Motors' market-oriented pricing strategy to set competitive rates
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based on the current worldwide market prices for motor vehicles. For example, the prices of
many GM autos are set in accordance with those of rivals. General Motors, on the other hand,
uses a premium pricing strategy to charge a premium for their products. Cadillac autos, for
example, have a higher sticker price. If you take into account the company's cost-leadership
strategy, Cadillac's high price points maintain a luxury image and assist optimise profit
margins. As a result, the present state of the market and GM's branding strategy serve as the
foundation for setting product prices in this part of the marketing mix.
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