1 COMPANY REPORT ON BMW Table of Contents 1. Introduction to the automotive industry..........................................................................3 2. Introduction to BMW......................................................................................................3 2.1 One aspect BMW excels at........................................................................................4 2.2 Another aspect BMW excels at.................................................................................5 2.3 One aspect BMW is criticized for.............................................................................5 3. Conclusion & recommendations......................................................................................6 Reference List......................................................................................................................7
2 COMPANY REPORT ON BMW Executive Summary The main aim of the report is to understand the Business function of BMW in a broad way. BMW is one of the major automobile industry in the world and it excels at producing innovative and luxury cars. In the starting of the report a brief description to the automobile industry has been given and then a descriptive introduction to the company has been provided. BMW has been successful in the automobile industry owing to a lot reasons. In this report two aspects in which the company excels has been presented along with one aspect in which the company has been criticized has also been presented. In the end a conclusion has been drawn on the report along with some recommendations for the company has also been presented.
3 COMPANY REPORT ON BMW 1. Introduction to the automotive industry The automotive industry is a huge industry which comprises of a lot of companies and various organizations which are involved in designing, manufacturing, developing, dealing and marketing of various motor vehicles(Law, 2017). In accordance to revenue automobile sector is one of the largest economic sector in the world. The industry which is dedicated for the maintenance of the automobiles including their delivery and repair do not come under the automobile industry. With the huge increase in the population around the world a lot of companies are emerging in the automobile sector which are producing more and more vehicles to meet the demands of the public. The automobile industry is also bringing a lot of changes in its products. A lot of problems regarding the climate change is being observed in the world which is mainly due to the huge carbon emissions from the vehicles and industries. Automobile industry has been coming up with various ways by the help of which they will be able to cut off the pollution. Vehicles using electric energy has been introduced in the world which are a major game changer in the modern era and the various ways by the help of which the carbon emissions can be reduced has been brought in the automobile industry. 2. Introduction to BMW BMW is one of the finest motor manufacturers of motor vehicles all around the world and is a major company which excels in bringing innovation sin its new products. The headquarter of BMW is situated in Munich, Germany(Papasolomou and Kitchen, 2011). The products which are manufactured by BMW includes motorbike, cars and various appliances. The main slogan of the company in English is “The ultimate driving machine and sheer driving pleasure”(Atwal and Williams, 2017). The company produces and sells a variety of cars and motorcycles. The company also owns Rolls-Royce and is mainly known for the production of
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
4 COMPANY REPORT ON BMW performance oriented and luxury vehicles. The company has a significant history in the automobile industry which has significance in touring cars, formula 1, Isle of Man TT and also sports cars(Atwal and Williams, 2017). The name BMW stands for Bayerische Motoren Werke and is major German company of the company. BMW has a lot of branches all around the world mainly in Germany, China, South Africa, Brazil, India, Mexico, United Kingdom and Unites States of America(Gosline, Lee and Urban, 2017). BMW is the twelfth largest producers of vehicles all around the world. The future plans of BMW shows that the company has been looking forward to being a lot of innovation in its company structures and the products which will be produced by them(Gosline, Lee and Urban, 2017). The company has produced a lot of products in different ranges in the past and will be continuing to do so. The main competitor of BMW is Audi and both the companies has been in competition with each other form a long time and the products which are produced by which the companies are fairly same. Both the companies are working towards innovating their products which is looking forward for working towards the betterment of the environment(Gosline, Lee and Urban, 2017). 2.1 One aspect BMW excels at BMW excels in strategic management in which the company focusses on customers’ satisfaction and customer retention. The Price of BMW is slightly more than the Honda But the slight high price gives the customers the option to have the luxury and the prestige which is obtained by the owning of BMW(Moiseieva, 2013). For instance it can be seen that the products which are produced and sold by BMW in Japan is mainly to attract young individuals by keeping the price of the vehicles in entry level(Moiseieva, 2013). This is a major aspect in which BMW excels at in which they can correctly assess the condition of the market in a proper way and make
5 COMPANY REPORT ON BMW their products in accordance to the market(Hwee, 2015). The brand name of BMW helps them in getting customers easily in all corners of the world. 2.2 Another aspect BMW excels at The response which the company gives to its customers have been excellent and people have highly appreciated the customer experience of the company. The customers are treated in a very proper way buy the company which gives them the opportunity to retain the old customers and also gather new customers for the company(Wilden and Gudergan, 2015). Customers must be treated by any company in a proper way so they will be recommending the company to others and the company also gets new customers form all around the world. The main reason due to which the customers are attracted to the company is because of the global branding of the company. Along with its brand name the excellent customer service provided by the company helps the company in gathering more customers for the company(Wilden and Gudergan, 2015). This is one of the major aspect in which the company excels at. 2.3 One aspect BMW is criticized for Recently BMW has been criticized for poor results in the first quarter of 2019 and the company also lacks electrical vehicles strategy at present. The company has been accused of not planning ahead of its time and also is not able to provide environment friendly customers with the devices which is being needed by them. BMW is not working in accordance to the present marketing conditions in which products which are environment friendly is needed more by the customers. Owing to the problems which is being faced by the world due to pollution and climate changes needs to be paid attention by the company(Kingsnorth, 2019). Companies all around the world must be looking at the environment along with their profits. BMW has been critics in the first quarter of the 2019 since they are not giving attention to the production of
6 COMPANY REPORT ON BMW environment friendly in the modern world(Kingsnorth, 2019). This might be major problem for the company as they can lose some of its customers to its competitors which is highly affecting the revenue of the company(Urban, Gosline and Lee, 2017). 3. Conclusion & recommendations To conclude it can be said that BMW is one of the major automobile company in the world and it works towards introducing more new products to the world. Owing to the reputation of the company along with the quality product which is being provided by the company to its customers the company has solidified its position in the automobile industry. The customers of BMW has praised the company over the years about the services which has been provided by the company. This is a very important strategy by the company which has helped it to maintain its position in the world of automobile industry. The future strategies for the company must be aimed at improving the profits of the company by cutting the costs of manufacturing of its various products. The company needs to improve its research and development teams(Reuter, 2018). The company needs to look at its supply chain management which will be ensuring better revenue of the company. The main aim of the company in the future must be to improve innovative and environment friendly products (Reuter, 2018).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
8 COMPANY REPORT ON BMW Siahaan, A.P.U., 2017. Marketing Strategy through Markov Optimization to Predict Sales on Specific Periods. Urban,G.L.,Gosline,R.andLee,J.,2017.Thepowerofconsumerstoriesindigital marketing.MIT Sloan Management Review,58(4). Wilden, R. and Gudergan, S.P., 2015. The impact of dynamic capabilities on operational marketingandtechnologicalcapabilities:investigatingtheroleofenvironmental turbulence.Journal of the Academy of Marketing Science,43(2), pp.181-199.