Aston Martin or Aston Martin Lagonda Global Holdings plc is a British company. It is famous for manufacturing luxury sports cars and vehicles. It was founded in 1913 by Lionel Martin and Robert Bamford. The company is traded as a public entity and is listed on the London Stock Exchange. It carries out its business by operating from three different locations with the sports cars manufacturing in Gaydon, Warwickshire, England. This is also the headquarters of the company. Another facility serves as the home of the company’s classic car department and is located in Newport, England. The company is producing luxury sports cars, SUVs, and motorbikes. The company is also expanding into other services like clothing, bicycles, speed boats, and real estate development, even submarines, and aircraft, mostly on a licensing basis. It is the subsidiary of Ford.
This article will feature some of the great achievements of the company in the automobile industry. It will also highlight marketing, advertising, different models, a brief history and, future vision of the brand. The discussion will try to justify why it is one of the top-notch car producing companies in the world.
HISTORICAL BACKGROUND OF ASTON MARTIN
ASTON MARTIN was founded in 1913 by Lionel Martin and Robert Bamford. Based in Gaydon, Warwickshire, England, the company introduced its first car in 1915. Soon after its launch, it had to abandon its operations during world war I. The company:
Initially started its operations by using the services of Bamford & Martin.
In 1922, they introduced Razor Blade Team car selling 55 units of this model at initial stages. Later in 1924, both went bankrupt and sold the company to Dorothea, Lady Charnwood. John Benson (his son) took charge of the business. The entity did not witness any visible change until 1937 and went through different ownership changes.
It shifted its focus from producing cars to producing aircraft components from 1937 till 1947.
David Brown became the owner of the company. He launched several models of cars including the DB1 and DB2 in 1952.
The company initiated the manufacturing process of DB3S. It launched the same in 1954.
It had to bear the financial crunch until 1974 and had to cease its production plant for this reason.
Peter Sprague, George Minden, and Jeremy Turner, a London businessman became the owners of the company in the 1970s and restarted the production process in 1975 by producing engines.
The company launched V8 Vantage in 1977.
It came up with he convertible Volante in 1978.
It also launched improved models of V8 Vantage in the 1980s.
Since 2000, the company has totally revamped its business model. It has introduced many advanced models of luxury and sports cars.The company:
Has come up with V12 Vanquish and DBS in the 2000s.
Also has come up with modern and stylish models of:
Also has entered signed several partnership agreements with many famous companies of the world.
Is expanding its operations to many parts of the world. It currently has footprints in more than 28 countries across Europe, Asia, America, Australia, and Africa.
Re-introduced Lagonda marque in 2009.
In 2009, launched Aston Martin One-77.
In 2010, has introduced Aston Martin Rapide.
Has come up with Aston Martin Virage in 2011.
Has expanded and streamlined its operations by investment of $33.4 million.
In 2011, has introduced Aston Martin Cygnet. It also introduced Aston Martin V12 Zagato in 2012.
Has launched Aston Martin DB11 in 2016.
Launched the 2018 V8 Vantage in 2017. It also entered into a partnership agreement with Daimler AG to enhance its productivity and make some components of some of the models of Mercedes Benz.
In 2018, introduced Aston Martin DBS Superleggera.
The company is primarily focussing on produing electric cars in the near future. It has already introduced some of its future concepts relating to electric cars. Further, it is eyeing to expands its business operations into many emerging markets of the world.
It has also come up with three new concept cars at the 2019 Geneva Motor Show. These include:
The mid-engine Vanquish Vision
The AM-RB 003 mid-engine hypercar
Electric Lagonda SUV
BUSINESS MODEL OF ASTON MARTIN
Due to certain financial difficulties in the past, Aston Martin has from time to time remodeled its business ambitions. From components manufacturing to sports cars, it has been going through the transformation phase since 2009. The company has divided its business plan with mid-term and long-term goals and strategies to accomplish them.
The company is producing luxury sports cars, SUVs, and motorbikes. It is also expanding into other services like clothing, bicycles, speed boats, and real estate development, and components for submarines and aircraft.
MARKETING MIX OF ASTON MARTIN
A company’s marketing mix refers to the strategies and tactics applied to execute the marketing plan, with a focus on products, place, promotion, and price (the 4Ps). These 4 P’s of Aston Martin are discussed below:
The company offers a wide range of cars with different models. Since 2009, it has constantly introduced different models for its customers with exclusive designs and innovations. These include sports cars, SUVs, etc.
The company deploys a value-based pricing strategy. It charges a high price for its products. These cars are manufactured keeping upper class of society into consideration.
The company has showrooms for its car sales in 28 different countries and 120 locations globally. It is currently offering its cars in developed countries of the world.
It has not adopted an aggressive advertising strategy as compared to its competitors. This is a concern the company must look at. For advertising purpose, It is using:
Celebrities also are seen using Aston martin cars. Some of them include:
SWOT ANALYSIS OF ASTON MARTIN
The company before carrying out these campaigns uses SWOT analysis to make its products successful. SWOT analysis of Aston Martin includes:
- Use of advanced technologies.
- A wide range of sports cars.
- Less penetration into developing economies.
- Tough Competition.
- Use of social media and online marketing for its products is not up to its brand’s image.
- Weak portfolio.
- The brand image is not as strong as of competitors.
- Can choose developing and emerging economies for its products.
- Can diversify by making auto parts.
- It can further develop electric cars in the future.
- Many automobile companies can enter the market due to low market barriers.
- Legislation in certain countries for protecting their local automobile industry.
- Increasing fuel costs.
- Trade wars between leading economies.
- Ongoing recession after Pandemic of COVID-19.
- Strong marketing campaigns of competitors.
CURRENT BRAND IDENTITY OF ASTON MARTIN
At present, the company is producing sports cars and SUV’s. It has also expanded into other services like clothing, bicycles, speed boats, and real estate development, even submarines using the licencing method. It also aims to introduce products like:
The initial Aston Martin logo was introduced in 1921. It had a simple integration of the letters “A” and “M” in black color, inside a black double-line circle. In 1927, it adapted “The winged design” with the company’s name placed on a pair of white wings. It introduced several logos throughout its history to showcase its intent of reshaping its business due to certain challenges.
The current logo of the company is a symbol of freedom, speed, dreams, and exploring boundaries.
Founded: 1913 in London, United Kingdom
Owners: David Richards, Investment Dar
Revenue: 997.3 million GBP (2019)
Headquarters: Gaydon, Warwickshire, United Kingdom
The company still needs to make an effort for transforming its current business model. This also requires aggressive marketing campaigns using modern and digital means of communication. It can also diversify its range of products, especially electric cars. The automobile industry is highly competitive. It requires innovation, effective marketing, and new designs to attract customers. This in return will allow the company to improve its portfolio and brand image. It will also allow Aston Martin to become one of the leading car companies in the world.