Marketing Mix for BMW Group: Global and Local Marketing Strategies

Running head Marketing Mix 0
Marketing Mix

Marketing mix 1
Contents
Introduction......................................................................................................................................2
Difference between global and local marketing..............................................................................3
Marketing Mix.................................................................................................................................4
Product.........................................................................................................................................4
Pricing..........................................................................................................................................5
Promotional..................................................................................................................................5
Distribution..................................................................................................................................6
Domestic and global marketing approaches....................................................................................7
The implication of Marketing Approaches and recommendations..................................................8
Conclusion.......................................................................................................................................9
Reference.......................................................................................................................................10

Marketing mix 2
Introduction
BMW is the leading manufacturer of automobile and Motorcycles Company in Germany.
They are famous for their luxury vehicles and their performance in the market. The report is
based on the marketing mix of the BMW group and analyzing the global and local marketing
strategies of the company. The elements of the marketing plan will be discussed for adopting the
same in international markets. Various approaches are adopted by the company in the domestic
and international market for analyzing the market potential. The overview of the local and global
market by investigating the product, price, place and distribution approaches in the market. The
adaptation of an effective marketing mix will impact the growth of the BMW group in
comparison with the competitors (Czinkota and Ronkainen, 2013. BMW group set different
marketing strategies for doing business in local and global markets. The competitors will impact
the marketing strategies of the company so it is important to consider the strategies adopted by
competitors to increase the sale in the international market.

Marketing mix 3
Difference between global and local marketing
BMW group produces outstanding and distinctive products. In the world, they always try
to achieve the maximum market share in the market of luxury cars. Because of the marketing
strategies, BMW group has created an excellent brand image globally. They had adopted the
strategies to satisfy the desires of the different local markets. The company has also adopted a
centralized and unifies brand strategy which can be adopted by a different country. The
marketing strategy system was adopted which is called a global branding and localized
marketing. The strategies are adopted by the BMW group in different markets of Europe,
American and Asian markets.
In order to achieve success, the company has adopted the strategies as multi-domestic and
global techniques by its transnational strategy to get both global efficiency and local
responsiveness (Bradley, 2005). BMW has adopted the different marketing mix to sell the
varieties of the car by socioeconomic segments, aggressively emphasizing on the segments
which are premium. In global market, to maximize the sales they select the premium marketing
mix and also consider the behavior of consumers. They respond to every unique value sensitively
and the purchasing behavior as it helps them in increasing the performance. As the consumers
who have a high standard of living, luxury, and performance are the most target customers of
BMW because they build these attributes in automobiles.
Globally BMW majorly concentrates on the premium segments and bring high-end brand
products to achieve success in the market. Strategy for influencing customers in the global
market is attractive and by setting a trend of products in series that enable them to focus on the
customers.
BMW represent their strategy of leadership by bringing innovation. They always keep the
innovative spirit to satisfy the request of the premium customers in the market. Company mainly
focuses on the CSR activities of the country for developing and successfully increasing the
market and majorly in science and engineering education and an eco-friendly environment.
BMW has its network in more than 120 countries around the world (Martin, 2009). For the
satisfaction of different local markets and their requirements, they had adopted a centralized and
unique strategy of the brand and enhancing the local marketing.