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Consumer Culture Theory Assignment

Added on - 21 Apr 2020

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Name1Contemporary Culture Consumer Theory, the BMW Luxury Brand and Its Positioning forGeneration XStudent’s nameUniversityCourseInstructorDate
Name2Executive summaryCompanies use segmentation targeting and positioning as a business strategy to createdifferent consumer groups that utilize a variety of products that they produce. From thecontemporary culture consumer theory, businesses that have applied this strategy well havemanaged to succeed in the business environment that they operate since they meet the needs ofdifferent clients. BMW penetrated the luxury brand in the 980s by positioning its vehicle to meetthe needs that the consumers were seeking for. The generation X segment of the market is keenon luxury through service and performance. To meet this group’s needs, the company ensuredthat its luxury brand offered performance attributes that positioned it as the best brand that fitsthe segment. This report analyses the contemporary culture consumer theory by looking at thecontemporary culture consumer theory to understand how the luxury brand is positioned for thegeneration X segment.
Name3Table of ContentsExecutive summary.........................................................................................................................2Introduction......................................................................................................................................4Contemporary culture consumer theory and positioning in BMW.................................................4Conclusion and Recommendations..................................................................................................8References......................................................................................................................................10
Name4IntroductionSegmentation, targeting and positioning are business strategies used by marketers todetermine which kind of customers exist, then choose the one that they serve by optimizingproducts for that segment and communicating to them to indicate that the product serves theirneeds (Barnett 2003, p. 43). Therefore, marketing is a strategic and tactical activity that focusseson how the needs of the customer can be met in the through proper parameters that are put inplace. Barnett (2003, P. 45) suggests that the market consist of people from differentdemographic and psychographic characteristics of individuals that shape their preference forsome products and not others. For example, generation X or the so called baby boomers havevehicle purchasing patterns that are different from other segments since they have grown upunderstanding technology and have accumulated enough resources to own vehicles (Markert2016, p. 13). On the other hand, BMW has a mono segmentation strategy that focusses on amono-segment type positioning to ensure that the brand that it products appeals to the singlecustomer segment (BMW 2016, P. 23). This means that the company has all sorts of cars forevery segment that they target in the society. This report highlights how the contemporaryconsumer theory has been applied by BMW through positioning the Luxury Brand vehicle typeto meet the consumer needs of generation of X.Contemporary culture consumer theory and positioning in BMWContemporary consumer culture theory focusses on the consumption choices andbehaviors of the society from a social and cultural point of view rather than an economic andpsychological one. This is seen in the relationships that exist between consumer actions, themarketplace and cultural meanings that they place on the products that they buy. Culture is thus afragmentation of different groups within the society that have shared meanings rather than a
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