This presentation discusses the importance of brand extension strategy in maintaining a strong competitive position in the market place. It uses BMW as a case study to highlight the brand value and its growth in the current competitive market place.
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INTRODUCTION οIn current time, brand extension is a crucial strategy that is used toenhancethepresenceof brand in market. Enhancing the presence of brand is important to maintain strong competitive positioninthemarketplace (McDaniel and Gates, 2020).
BACK GROUND οThe BMW is a well-known brand which was founded in 1916 in Germany. It produces luxury vehicles and motorcycles. The brand has position in the mind of customers which is crucial to ensure growth in the current competitive market place.
BRANDVALUE οBMW is one of the most valuable automotive companies across the globe. It is known for the luxury vehicles in the international market. In 2021, BMW ranked 71 among the global brands. Additionally, the brand maintains value of 24.8 million USD. Here,thebrandvaluehasbeenincreasednearly21% comparatively previous years (Statisca, 2021)
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REFERENCES οMcDaniel Jr, C. and Gates, R., 2020.Marketing research. John Wiley & Sons. οOnline οStatisca, 2021. BMW's global brand value from 2010 to 2021. [Online] Available through:< https://www.statista.com/statistics/536927/bwm-brand-value/> ο