Market Trends in Automobile Sectors
Added on 2020-06-03
10 Pages2567 Words51 Views
Business FoundationExtended Project
Table of ContentsIntroduction........................................................................................................................................3Market trends in automobile sectors...........................................................................................3Gaining competitive advantage....................................................................................................4Other relevant aspects of the company......................................................................................5Conclusion.........................................................................................................................................6References.........................................................................................................................................8
Introduction It is essential for a business organization is to maintain their market share andcompetitive position in the market. This required various an appropriate and effectiveimplementation of marketing function. The present report based on BMW which isone of the leading automobile corporation and provide a highly qualitative product toits customers (Laefer, 2011). But in recent time there are large number of playerprovide a tough competition to the company in order to sustain their position in themarket. This report will provide the various aspects of marketing major competitorsand positioning strategy of the company in order to meet its long term goals andtarget. Business environment is dynamic in nature which create needs to be forecastin order to minimize potential risk and also build competitive advantage. This reportbased on BMW which is a luxury car manufacturer located in the Germany.Market trends in automobile sectors The automobile industry in UK one of the most attractive market for leading carcompanies in the world. There are more than 30 business organization operate theirbusiness in this sector such as Honda, Toyota, Hyundai, Suzuki, General Motors,BMW etc. According to the government data Car market in UK is mass and attractiveas compare to other countries which provide a future opportunity for automakers tostart their business.In the recent years, the growth and development in the vehicleindustry is drastically increase. Today, world automobile giants such as BMW, Ford,GM, Tata, Nissan, Toyota etc. set up their plants. This industry plays a vital role inthe job creation and growth rate for the UK. The Automotive sectors contribute morethan 10 percent of overall trade which is too significant and generate $60 billionapprox. in last year. Background of the company: BMW one of the leading frim in the car manufacturinglocated in German. They produce premium cars, sports cars, motorcycles andbicycles. The revenue of the company is more than $100 billion and operate theirproduction facility in USA, Europe, India, China, Brazil and so on (Yunus, Moingeon
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