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AN20211101-1268.pptx
- 2. Caterpillar Marketing Mix Caterpillar Inc. is an American corporation that manufactures machinery, mining goods and offers financial aid and insurance to consumers worldwide. In 1925, the Holt Manufacturing Firm and the C. L. Best Tractor Company merged to become the company (Bhasin). Caterpillar's vast array of services has spawned a slew of rivals in several fields. Caterpillar's marketing strategy examines the brand using a marketing mix methodology that includes all 4Ps (Product, Price, Place, and Promotion) (MBA Skool Team).
- 3. Marketing Mix • Energy and Transportation Industries On-road and off-road machinery • Construction Industries Agriculture Machinery • Resources Industries Defense and weapon vehicles • Social Media • Digital Platforms
- 4. Works Cited • Bhasin, Hitesh. "Marketing Mix of Caterpillar - Caterpillar Marketing Mix." Marketing91, 28 Nov. 2017, www.marketing91.com/marketing-mix- caterpillar/. Accessed 2 Nov. 2021. • MBA Skool Team. "Caterpillar Marketing Strategy & Marketing Mix (4Ps)." MBA Skool, 27 Dec. 2016, www.mbaskool.com/marketing- mix/products/16892-caterpillar.html. Accessed 2 Nov. 2021. • Pratap, Abhijeet. "Caterpillar (CAT) Marketing Mix." Notesmatic, 30 Oct. 2021, notesmatic.com/caterpillar-marketing-mix/.
Editor's Notes
- Product innovation, price strategy, promotion planning, and so on are all examples of marketing tactics. These Caterpillar marketing mix-based business techniques aid the brand's success. Caterpillar's marketing strategy helps the brand/company position itself competitively in the market and achieve its business goals & objectives (MBA Skool Team).
- Caterpillar's place in the marketing mix Caterpillar's services are available across the world through its many subsidiaries. Caterpillar Inc. has a global reach because of its extensive dealer network. Caterpillar has expanded its functional area outside the limits of the United States, and it now has a global reach as the No. 1 firm with the most assets (Bhasin). Caterpillar is present worldwide, with a robust network in place to meet the demands of various consumers in various market arenas. Caterpillar uses price in its marketing mix. Caterpillar, unlike other firms, maintains quality services with premium pricing, resulting in a profitable revenue outcome. Caterpillar Inc. focuses on premium pricing targeting influential requirements with technologically efficient and updated items (Bhasin). They have no problem selecting such a pricing approach because the items and services are fairly high-end. They are a frontrunner in every industry they deal with because of their expert and high–tech services. Promotion in the Marketing mix of Caterpillar Caterpillar's marketing strategy relies heavily on social media. Caterpillar recruits customers using a variety of strategies using the digital platform (Bhasin). Every advertising component is led to three essential ideas, which have established an excellent branding in favor of Caterpillar Inc. Product in the marketing mix of Caterpillar Caterpillar Inc has a diverse product range that is divided into two major groups. The first group comprises Caterpillar Inc.'s machine, energy, and transportation goods, while the second category includes Caterpillar Inc.'s finance products. According to Pratap, construction Industries, Resource Industries, Energy & Transportation, and All Other operational segments and associated corporate items and eliminations are included in the first category. Caterpillar Financial Services Corporation (Cat Financial), Caterpillar Insurance Holdings Inc. (Insurance Services), and its subsidiaries comprise the second category of financial goods (Pratap).