BYD Marketing Mix (BYD 7Ps of Marketing)
BYD marketing mix (BYD 7Ps of marketing) comprises elements of the marketing mix that consists of product, place, price, promotion, process, people and physical evidence for the one of the leading rechargeable battery manufacturers in the global arena.
Product Element in BYD Marketing Mix (BYD 7Ps of Marketing)
BYD Group engages in diversified market segments, such as smart phones, tablet computers, smart home devices, game hardware, drones, Internet of Things, robots, communication equipment and medical and health equipment. The table below the complete range of BYD product categories.
| Product category | Products |
| Automobile | Vehicles, buses and trucks |
| Rail transit | Medium-capacity “SkyRail” and low-capacity “SkyShuttle” |
| Renewable energy | batteries, solar energy products, energy storage |
| Electonic | Products and services for a wide range of products such as smartphones, tablet PCs, new energy vehicles, residential energy storage, smart home, game hardware, unmanned aerialvehicles, Internet of Things, robotics, communication equipment, health devices etc. |
Despite the diverse product category, automobiles are the biggest source of revenue for the company. Specifically, as illustrated in figure below, the share of automobiles and related products of total revenues increased from 59.66% in 2021 to 76.57% in 2022. This tendency is likely to persist in the longer term perspective.
Revenue breakdown by product category[1]
Place Element in BYD Marketing Mix (BYD 7Ps of Marketing)
In 2022 BYD sold EVs to more than 400 cities in over 70 countries and regions across the six continents of the world.[2] The effectiveness of BYD’s distribution channels is a critical factor in reaching and satisfying the ever-evolving needs of its target audience. Utilizing a combination of authorized dealerships, online platforms, and strategic partnerships, BYD aims to create a seamless experience for customers. A critical analysis of these channels should focus on their efficiency in delivering products to consumers, their contribution to brand visibility, and their alignment with the overall marketing strategy.
Price Element in BYD Marketing Mix (BYD 7Ps of Marketing)
BYD follows cost leadership pricing strategy. Subsidies granted by Chinese government for local EV producers play an instrumental role for BYD in gaining cost advantage in the global marketplace. BYD is also exploring dynamic pricing models that adjust prices based on real-time factors like demand, inventory levels, and competitor pricing. This allows them to optimize profitability and cater to specific market conditions. Moreover, while maintaining their core value proposition associated with cost leadership, the EV behemoth is also venturing into the premium EV segment with models like the Han EV. This allows them to cater to a wider range of customer preferences and potentially higher profit margins.
BYD Company Limited Report contains a full analysis of BYD marketing mix (BYD 7Ps of marketing) and BYD marketing strategy in general. The report illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on BYD. Moreover, the report contains analyses of BYD leadership, organizational structure and organizational culture. The report also comprises discussions of BYD business strategy, ecosystem and addresses issues of corporate social responsibility.
[2] CSR Report (2022) BYD