Global marketing: Triumph. Flashcards
What is global marketing?
‘Conceptualizing and then conveying a final product/service worldwide with hopes of reaching global markets’ - Selling same product everywhere!
What does Triumph produce?
High-quality motorbikes.
Why was there a need to improve marketing after the 1970’s and 80’s?
Japanese motorbikes were outcompeting them.
What was the main focus of its marketing scheme?
Mix old with new, to keep the heritage and emphasise the ‘Britishness’.
How had Triumph become an iconic brand in the 50s and 60s that would help it market its products?
Used by cultural icons like James Dean, Steve McQueen, and Bob Dylan.
How have they achieved customer proximity?
Market research to understand local demands, launched accessories range to make products more customisable, also factory tours are offered.
What market has Triumph increased operations in?
East Asia - opened factories in Thailand.
What did ‘stunt’ triumph get involved with to increase global recognition of the brand?
Broke the land speed record in 2017.
What evidence is there to suggest these marketing schemes were successful in the USA?
15% increase in sales in 2016.
Between 2014-15 how much did sales increase by globally?
50%
What impact could Brexit have?
Lower pound could increase exports (cheaper to buy british goods) however, more expensive to import goods therefore impacting production.
