Mark McPherson Word Count: The second phase presents a more practical approach targeted to the identification of some marketing objectives, and developing a strategy to achieve them. Introduction Specialized in the production of automobiles, BMW Group is globally considered one of the most successful companies in the world. The group is well positioned in worldwide market with 24 manufacturing facilities in 13 different countries, and it can count on a distribution network in more than countries Bmwgroup,
The marketing plan has been made to understand the efforts of the BMW Company as how their brand has been ingrained in the minds of its customers. With the passage of time, the BMW group also began to produce automobiles, motorcycles etc. In the following marketing plan, the challenges and strategic goals of BMW, the Situational analysis, Competitor analysis with rivals like Mercedes Benz is discussed.
The collaborators of the company, the PEST analysis, SWOT analysis are presented to identify the factors that determine where the company stands out in the auto- making industry.
Moreover, the market segmentation of the company has been discussed briefly as what kind of strategy the BMW has adopted to be profitable and remain to be the best of all.
This includes the concept of the marketing mix 4ps which defines every aspect of the company from its product, price, place and the promotional tool that they have used to market their products. In the end, the current revenue and growth of the company has been mentioned. Challenges and Strategic Goals As the world continues to change rapidly, many countries adopt to individual mobility that emphasizes on political regulation and national industry policy.
The activities of the company will always focus on the premium segments existing in the international automobile market. In order to achieve this goal, the company decides to strengthen its internal synergies between its brands like BMW, Mini and Rolls-Royce as well as to come together with new platforms and produce engines that can be shared by more model brands.
Culture The BMW group is known for its passion bmw target market essays for scholarships first class performance and to maintain this culture, the company looks for those employees who can bring out team spirit, taking independent risks and has a thirst for learning. The company promotes a culture of top performance, working together as a team and gives equal opportunity to strive for more.
The market share has advanced to 5. Customer Analysis The company aims to target the younger consumers who are head-strong and appreciate to buy fast, sleek gadgets. The company targets the younger audience to this new product by placing ads on Spotify as the younger market is the technology savvy, this is why the company chose to promote the product on Spotify.
Most of the products of BMW target the affluent and creative class who prefers to buy from BMW considering on how they feel about the company and what it stands for.
Competitor Analysis The automobile industry is considered to be the most interesting yet complex business sectors globally. Mercedes Benz is also a German automobile manufacturer, which is also a multinational division of the German manufacturer Daimler AG. The brand name is known for its luxury automobiles, buses, coaches and cars.
Market Positioning The market positioning is always meant for the upper affluent class. SL is positioned as a sports car icon which originated since 6o years. This is why; Mercedes Benz has to still strive for a successful differentiation strategy to compete against them. Market Shares The Company set a significant sales record in when they delivered more than 1.
BMW 3- Series vs. However both the models differ in interior and exterior stylebut for those who is looking out for a luxurious and out class performanceBMW 3 Series is the best choice. BMW has recently decided to extend its joint venture with Brilliance China Automotive Holdings untilwhich will help both the companies to grow in the largest car market segment.
Political and Legal Environment The laws and regulations of the country always impact the automaker industry. These laws are associated with the environmental norms that constitute any automaker industry and therefore, the car manufacturers should take the environmental issues, the foreign policy and taxes of the country they operate very seriously.
In Germany, the company decided to make pollution badges compulsory. Economic Environment Most of the economic factors that affect the company are the economic downturn in the market.
When the purchasing power of the consumer becomes low and the currency rate start declining in the developing countries like in India. Social and Cultural Environment People look forward to purchase hybrid and duel fuel cars.
They highly demand for green products. Technological Environment BMW has always been famous for its technological expertise.
Recently; the company has turned to new 3D printing in order to physically augment the car plant workers thumbs.
Each thumb is made of a custom orthotic device with the help of a portable 3D camera. Market Segmentation The market segmentation, targeting and positioning is mostly done by companies as businesses cannot fulfill the demands and needs of the consumers of the whole population in an equal manner.
Segmentation helps in dividing the population into different market segments according to the criteria of demographics, geographic, behavioral and Psychographic.
The company has used Demographic market segmentation where they allow the customers to make a purchase decision based on their demands. The demographic segment is further divided into income, age and gender. Therefore, it suggests that the BMW targets the high income level of consumers.and Target Market Paper Student’s Name: Institution: Segmentation and Target Market Paper This paper explores the segmentation, target market and product positioning of a company.
The company of choice is BMW and its medium-size car BMW 3 series offered to a broad consumer market. BMW segmentation, targeting and positioning can be specified as the base of the marketing efforts of the company. BMW, as well as, any other business entity has to divide population into different categories according to a set of certain criteria and develop products and services that are particularly attractive to this specific group.
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Market Segmentation and Targeting with BMW 1. BMW Targeting Segmented Market? 2. Bayerische Motoren Werke is a German luxury vehicles motorcycle, and engine manufacturing company founded in Luxury cars • s – 10 series models • s – 25 series models • - 15, units sold • – 2,50, units sold Revenue- € Billion Worldwide presence "Sheer Driving.
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