Marketing Mix of Boeing (4Ps of Boeing)

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Marketing Mix of Boeing (4Ps of Boeing)

This is a thorough analysis of the marketing mix of Boeing (4Ps of Boeing). It evaluates how the company’s marketing mix techniques have been developed to target the customers and impact on their purchase decisions.

Product strategies of Boeing

Boeing is a world-renowned aerospace company and the biggest manufacturing exporter of the United States of America. Its products and services fall into four broad categories i.e. commercial, defense, space, and services. Its portfolio includes commercial and military aircrafts, weapons, satellites, electronic and defense systems, launch systems, and communication systems. It also provides services such as performance-based logistics and training (Boeing, 2021).

Boeing has been at the forefront of innovation in the global aviation industry for a long time. Its products and services are of very good quality as well. However, its 737 Max plane had suffered two fatal crashes due to flawed flight control software and caused 346 deaths. These accidents led to it being banned in several countries and continents. It is worth mentioning that after a through review, the regulators in the US and Europe have cleared it to fly again (BBC, 2021).

Pricing strategies of Boeing

Price is a very important element in the marketing mix of Boeing (4Ps of Boeing). Boeing has adopted a premium pricing strategy as it manufactures and sells premium quality products. Though it faces intense competition from its rivals, it can maintain a premium pricing policy due to maintaining a premium quality.

Boeing offers discounted prices on certain products to increase the sales and attract new customers. Discounted prices also help it retain existing loyal customers. It does not usually provide any detailed information on the prices paid for its planes or any discounts. However, it is widely known that it often offers massive discounts to airlines which impact on its profit margins.

Place/Distribution channels of Boeing

Boeing has over 140,000 employees in over 65 locations around the world (Boeing, 2021). Its distribution centers are strategically located in different countries to ensure smooth and efficient delivery of spare parts. These centers are connected via digital systems to ensure smooth operations. Boeing has regional websites as well to address the local needs.

Promotion strategies of Boeing

Boeing promotes its products and services on television, newspapers, and magazines. It spends millions of dollars each year on both digital and non-digital advertising. However, some of its adverts were accused of misleading customers in the past.

Boeing sponsors events, projects, and organisations in order to enhance the brand image. It also uses the official logo in all the aircraft carriers to spread its name across the world.

Boeing’s main and regional websites containing detailed information about it, serve as good promotional tools. The company also uses social networking sites such as Facebook, Twitter, Instagram, Pinterest, and YouTube. However, disparity exists in the number of followers in its social networking accounts.

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Last update: 29 July 2021

References:

BBC (2021) Boeing 737 Max cleared to fly in UK and EU after crashes, available at: https://www.bbc.co.uk/news/business-55827358 (accessed 27 July 2021)

Boeing (2021) Our company, available at: https://www.boeing.com/company/ (accessed 28 July 2021)

Author: Fahim Shah

Fahim Shah has been working in the UK as a visiting lecturer in Business and Tourism for the last 10 years. After completing a Bachelor’s degree in Business and Marketing, he went on to gain an MBA from the University of Bradford, the UK. He is a Fellow of Advance HE (FHEA) and a full member of the Association of Business Executives (ABE).