Marketing Management and Digital Communications Doc
11 Pages2944 Words51 Views
Added on 2020-03-16
Marketing Management and Digital Communications Doc
Added on 2020-03-16
ShareRelated Documents
Running Head: MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS 1Marketing Management and Digital CommunicationsNameDate
MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS2Executive SummaryOne of the critical aspects required for the successful sale of any product or service by a given company is a marketing plan. It helps businesses to make necessary preparations and take actionsthat will lead to successful product marketing. This paper formulates a marketing plan for the BMW Z4 car; one of the powerful vehicle machines on the globe. The paper discusses the steps required to write a marketing plan, the SWOT analysis for this product and its competitor analysis. It also explains its mission and sets both the financial and marketing objectives for the endeavor. Further, the report discusses the marketing mix of this product, states the action programs and discusses its implementation and control. Thus, the paper is critical in helping Mercedes successfully market its Z4 model car.
MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS3Table of ContentsThe BMW Z4...................................................................................................................................4Target Audience...........................................................................................................................4Marketing goals............................................................................................................................4Strategies and tactics....................................................................................................................5SWOT Analysis...............................................................................................................................5Strengths and weaknesses............................................................................................................5Opportunities and threats.............................................................................................................6Competitor Analysis........................................................................................................................6Mission............................................................................................................................................6Marketing Objectives.......................................................................................................................7Financial Objectives........................................................................................................................7Marketing Mix Strategy...................................................................................................................7Action Programs designed to achieve Marketing and Financial objectives....................................8Implementation and control of marketing plan...............................................................................8Conclusion.......................................................................................................................................9References......................................................................................................................................10
MARKETING MANAGEMENT AND DIGITAL COMMUNICATIONS4The BMW Z4BMW Z4 is one of the BMW products designed with a stunning hardtop and elongated hood combine. The vehicle has a powerful engine, low stance and has a seating position ahead ofthe rear axle to help the person driving take every corner straightaway and fast. It is of metallic paint combined with black Alcantara. The car is designed in a way someone can enjoy driving it as the hardtop can open and close in 90seconds even if it is at the speed of 25 mph. Therefore this vehicle was manufactured targeting those customers with a higher income and in love with sporty cars (BMW Concept Z4 First Look - Motor Trend, n.d.). Steps involved in writing a marketing plan A marketing plan is among the critical tools for any business to run comfortably and be able to attain what it needs. To run a successful business involves making potential customers know what you offer as a business person and coming up with a way that shows your product is the best to persuade them to buy (Wood, 2008). The marketing plan includes the advertising plan, pricing strategy, sale or distribution and a business's unique selling proposition and strategy to meet their objectives (Chase, Mackillop & Hogarth, 2013). The fooling steps are involved when coming up with a marketing plan.Target Audience As a business person, one has to identify the target audience that is interested in buying the product. When coming up with the target audience, one should also find ways in which their products are unique than those of their competitors for the customers to come for them. When identifying the target audience, an image should be created in their minds that will make them come for the product. BMW Z4 targets customers with a higher income, and the vehicle has powerful engines and a hardcover top that can close or open in 90 seconds even at a speed of 25 mph making it different from its competitors catching the customer's attention (BMW Z4 - BMW USA, n.d.). Marketing goalsSetting marketing goals entails drafting marketing objectives. The marketing goals help determine the success and failure of the business, and for this reason, they should be (SMART)
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Marketing Management - Mercedes Benzlg...
|11
|3084
|107
Assignment On Marketing Management (Doc)lg...
|14
|2950
|348
Digital Marketing Plan for Tesla Motorslg...
|23
|4797
|16
BMW Company Strategic Managementlg...
|54
|12213
|690
Report On Business Plan of Super Luxury Carlg...
|12
|2474
|225
Report on Marketing Concepts and Digital Communicationlg...
|14
|3045
|139