The University Student Name of the University Author Note Introduction 3 External Environment 5 PEST analysis 5 Political 5 Economic 5 Social 6 Technological 6 SWOT analysis 7 Strengths 7 Opportunitie
Added on 2020-04-15
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Running head: CONSUMER BEHAVIORConsumer BehaviorName of the StudentName of the UniversityAuthor Note
1CONSUMER BEHAVIORTable of ContentsIntroduction......................................................................................................................................3Situational Analysis.........................................................................................................................3External environment.......................................................................................................................5PEST analysis..............................................................................................................................5Political....................................................................................................................................5Economic.................................................................................................................................5Social.......................................................................................................................................6Technological..........................................................................................................................6SWOT analysis............................................................................................................................7Strengths..................................................................................................................................7Weaknesses..............................................................................................................................7Opportunities...........................................................................................................................7Threats.....................................................................................................................................7Target market...................................................................................................................................8Demographic................................................................................................................................8Psychographic..............................................................................................................................8Behavioral....................................................................................................................................8Geographic...................................................................................................................................9Decision making process.................................................................................................................9
2CONSUMER BEHAVIORSocial influences on buying behavior............................................................................................11Psychological influences...............................................................................................................11Personal factors..............................................................................................................................12Marketing strategy recommendations............................................................................................12Product.......................................................................................................................................12Price...........................................................................................................................................13Place...........................................................................................................................................13Promotion..................................................................................................................................13Reference List................................................................................................................................14
3CONSUMER BEHAVIORIntroductionThe Bavarian Motor Works or Bayerische Motoren Werke (BMW) began its journey in1910 as a manufacturer of aircraft and is company that is based in Germany. The logo of thecompany bears its look from the propeller blades of the plan against the blue sky that shows itstrue origins (Hwee, 2015). It is also based on the national flag of Bavaria. The company began tomanufacture its prototype of car since 1928, which became immensely popular in the market andensured the survival of the company during the Great Depression. Since then the company beganto excel in the sector of car making and provided fast and sporty look vehicles for the customers(Garcia-Villalobos, 2015). The mission of the company is to be the leader in providing premium products along withthe best services on a global manner. The vision of the company is that they want to become the premium manufacturer in thecar industry in a successful manner. Situational AnalysisThe clients of the company comprise around 45 percent of people who are businessmenand belong to the high income category. Apart from that, people who hold better positions inlarge companies are also one of the customers of the company. They may belong to middleincome families but have a respectable income, which helps them in purchasing the cars of thiscompany. The other clients of the company include the people who provide these cars on a rentalbasis to other people. These cars are used in a leasing form by renowned rental agencies. The
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