This article will cover the marketing mix of Honda. It will include all the P’s that affect the company in any way, thus forming the marketing mix. Honda was founded in 1948, and for all these years it has worked on expanding in terms of introducing new products and extending the product portfolio as well as moving to other countries so that their market is expanded. It has done various collaborations and launch since its beginning and Honda is now identified as one of the world’s biggest automaker and world’s largest two-wheel manufacturer. The marketing mix of Honda is following:
Product
There is huge product portfolio under the brand name of Honda. This includes cars and motorbikes. All the products are represented through the logo of Honda which is the identity of the company worldwide. The design of the cars are also kind of representatives of the brand as they all possess some element that identifies with the brand identity. Honda’s automobiles are equipped with high quality engine and other parts. Their products and the features offered through them is the reason Honda has been extremely successful in the global market and has gained its due share in the market.
Price
The best part about Honda automobiles is that they come in various forms and prices. Not all products are targeted towards a specific group and thus people belonging to different income groups are able to afford the brand. Each brand is specifically focusing on some quality and then the price is determined accordingly. Some of their luxury cars have premium prices and are thus targeted towards a specific niche.
Place
Honda cars are now available worldwide and are thus present in almost every corner of the world. Mostly they are sold through their official outlets and are widely available in the markets. In terms of the placement in the minds of the consumers, the consumers view the brand as providing products that are comfortable. The brand is not viewed as a premium or luxurious brand but as a reliable and comfortable brand.
Promotions
Honda is mainly known in the market as a brand providing quality and innovation. Honda has a few of its products advertised through TVCs. Through these promotions, Honda has aimed of building a brand image of being a reliable and eco-friendly brand. Other than that, Honda invests in print advertising as well. These promotion efforts vary from one region to another depending on what works for a certain country. Moreover, as the needs of the markets suggest, Honda has now hugely invested in digital marketing as well. Through this, Honda is able to reach beyond borders and their single marketing effort can be executed in different countries. They have some of the campaigns which have gone viral worldwide and have further contributed towards the brand image of the brand.
References
Bhasin, H., BhasinI, H., & Facebook. (2017, December 27). Marketing mix of honda motors – 4P of Honda motors. Retrieved from https://www.marketing91.com/marketing-mix-honda-motors/
Z. (n.d.). Honda Marketing Mix (4Ps) Strategy. Retrieved from https://www.mbaskool.com/marketing-mix/products/16728-honda.html