Marketing oMw ia the utimate dnving machine. Manufactured by ments. This resuhed
ID: 1134269 • Letter: M
Question
Marketing oMw ia the utimate dnving machine. Manufactured by ments. This resuhed in un the German company Bayerische Motoren Werke AG, as SUVs convertibies and laury. The com expensive compact cars pany was founded in 1916 as an aircraft-engine manu BMW redesigned its tacturer and produced engines during World Wars I and unique nn it evohed into a motoroycle and automobile maker by performance. BMW's full range of cars now includes 1 Senes, 3 Series, 5 Series, 6 Senes, 7 Series, memos acen ountry, aro, today it 8 an internationaly specled company and brand with $108 bilion in sales Z4 Roadster, M Series, Hybrids, and BM BMW created the lower-priced 1 Series and X1 Su EMW's lbgo is one of the most distinctive and glob to target the "modern mainstream. a group who are aleo ally recognized symbols BMW roundel looks ike a o over created. The signature family-locused and active but had previously avoidhen spinning propeliler blade set BMWs because of their premium cost. The 1 Seri thought to reached this group with its lower price point, to the company's founding days as an sign, and luxury brand. The X1 and Xalso hit home with The redesign of the 7 Series, BMW's most xuri- These wealthy, traditional consumers don't usualy ke be a tibute the Recently, however, a New York Times reporter revealed that the logo, which fea- tures the lethers BMW at the top of the outer ring and ous car, targeted a group called "upper conservatives a blue-and-white checkered design in the inner ring. was trademarked in 1917 and meant to show the col sportier cars, so BMW added electronic components ors of the Free State of Bavaria, where the company is such as multiple options to control the windows, seats airflow, and lights, a push-button igrition, and night v BMW's growth exploded in the 1980s and 1990s, sion, all controlled by a point-and-click system caled when it successfuly targeted the growing market of Drive. These enhancements added comfort and kuxury baby boomers and professional yuppies who put work attracting drivers away from competitors like Jaguar and first and wanted a car that spoke of their success. BMW Mercedes gave them sporty sedans with exceptional performance BMW successfully launched the X Series by targeting and a brand that stood for prestige and achievement. "upper iberals" who had achieved success in the 1990s cars, which came in a 3, 5, or 7 Series, were basi and gone on to have children and take up extracurricular cally the same design in thrse sizes. that yuppies made Beemer and Bimmer the It was at this time activities such as biking. golf, and sking. These consum- slang terms ers needed a bigger car for their active lifestyles and luxury SUV BMW refers to its SUVs as sport activity BMW introduced convertibles and roadsters to target o atiract attention with more showy, flamboyant cars for BMW's cars and motorcycles, popular names stil growing families, so BMW created a high-performance At the turn of the century, consumers' attitudes to vehicles in order to eppeai even more to these active ward cars changed. Research showed thet they carad consumens BMW Group indudes BMW MIN and Rolls-Royce bründsExplanation / Answer
Answer:
1)
In 2010 BMW Group confirmed its position as the world's leading premium manufacturer in the automobile industry with record sales, and profits exceeding €3 billion. Since its inception, the BMW brand has stood for one thing: “sheer driving pleasure”. For many BMW drivers, owning a BMW has symbolic meaning of quality, efficiency and engineering expertise. BMW’s long-standing marketing message has been simply “the ultimate driving machine”, which is now 40 years old.
The company understands the logic of marketing the product globally and serving the customers based on their needs. BMW choose to sell to those consumers who have high standards for quality and luxury as their products are built on these attributes. The company focuses on the premium segments on a global scale. Producing attractive and trend setting products which ranges from 3 to 7 series are targeted to affluent customers by successfully demonstrating the global marketing strategy. BMW has managed its global marketing strategy by integrating the emotional marketing perspective which interchanges synergistically to maintain its leadership presence in the automaker industry. In Korea, the company also donates pre- production automobiles to the faculty and students to further study in the automobile technology.
2)
innovation Strategy of BMW
The latest innovation strategy implemented by BMW is test driving the BMW X5 drive plug in hybrid prototype and the BMW 5 series Sedan; both of them are well equipped with the latest generation of proactive drive system.
Marketing Mix 4Ps OF BMW
Product
A product is the most important element in the marketing mix as it fulfils the required needs of the customers. BMW has positioned its products as a unique luxury car that gives an exhilarating driving experience to the customers.
Price
The strategy adopted by BMW is the Value based pricing. The customers are fond of buying BMW cars based on the brand name and quality of their products. BMW also uses Segment pricing strategy by offering the best pricing options to the graduate students. The price range of BMW begins with $16,000 to $60,000. Factors that affect the prices are engine size, motor sport version etc. The BMW group also has many discounts offers for its valuable customers.
Place
The company use huge market dealership and imports from non-dealership networked countries. They have got 4 manufacturing plants in UK. The company is operating in almost 100 countries worldwide with approximately 4000 dealers who are authorized to sell new and used cars.
Promotion
BMW has used several advertisings means for promoting their products. This includes television for branding campaigns, new car launches, publications and magazines, outdoor campaigns, brochures, internet etc.
Short Term and Long-Term Projections: -
In the first quarter of March 2014, BMW has profited from an increasingly responsive market conditions specifically in Europe, by achieving a new sales volume with 480,024A cars got sold.
According to the current reports, BMW has announced that they will soon outperform the market. This was a consensus forecast since the investment analysis has been improved on Feb 4th, 2014.The 2nd quarter earnings per share of the BMW Company were about 2.69 per share and achieved the revenue of 19.91 bn.
Conclusion: -
The BMW group is the world’s leading automaker industry. The company faces an intense competition in the market and in order to remain competitive should consider reducing costs and expand into new markets. The company has also maintained its brand management which attracts and target the right market and potential buyers.
3)
BMW never went through with the decision nor we know exactly if there were any plans to really change the slogan.
Although I do agree with the overall concept of the slogan being somewhat of a fit for BMW, I don’t feel that it would have been an appropriate replacement for what has worked for so many years, nor did it describe the core competency of the company. Also, “A Company of Ideas” was much too broad and could have been applied to any company. When you drive a BMW you simply cannot deny the fact that they make automobiles that are more than a point A to point B car, more than a means of transportation. There is spirit behind these cars, these are drivers’ cars and are meant to be enjoyed.
They are “The Ultimate Driving Machine”.
A tag line ultimately does one thing and that is to keep a promise. The ability to keep that promise across the board, throughout all the products a company offers, is often a feat that is overlooked by the understated ability of sheer consistency. In my opinion BMW does just that. The bummer is a “driver’s car” first and everything else second.