Marketing Practices Assesment Report

MARKETING PRACTICES

MARKETING 1
Executive Summary
This assignment will revolve around the marketing and consumer behaviour tactics of the
BMW. In this assignment customer behaviour analysis will be consider. Consumer behaviour
forms from two forces internal and external. Internal forces consist of customer perception,
motivation, their attitude towards the brand, psychological influence and their learning. On
the other hand, external forces of customer behaviour consist of family, social class, their
cultural values and market forces. This study also concluded about the customer decision
making process before making the purchase decision. Consumer gone through this process
before making the purchase decision, they can even modify and reverse these steps as per
their perspective.

MARKETING 2
Table of Contents
Introduction................................................................................................................................4
Marketing Strategies..................................................................................................................5
Importance of developing adequate marketing strategies......................................................5
Marketing strategies affecting consumer Behaviour..............................................................6
Internal factors of consumer behaviour......................................................................................7
 Perception........................................................................................................................7
 Motivation.......................................................................................................................7
 Attitude............................................................................................................................7
 Psychological influence..................................................................................................8
 Learning..........................................................................................................................8
External factors of consumer behaviour....................................................................................9
 Family.............................................................................................................................9
 Social class....................................................................................................................10
 Cultural:.........................................................................................................................10
 Market forces:...............................................................................................................10
Consumer decision-making process.........................................................................................12
Stage 1: Customer recognition.............................................................................................12
Stage 2: Research.................................................................................................................12
Stage 3: Assessment of options............................................................................................12
Stage 4: Final purchase decision..........................................................................................13

MARKETING 3
Stage 5: Post-purchase services...........................................................................................13
Digital Marketing.....................................................................................................................14
Importance of Digital marketing..........................................................................................14
Current digital marketing practices of the company............................................................14
Conclusion................................................................................................................................16
References................................................................................................................................17

MARKETING 4
Introduction
Automobile companies deal with various marketing challenges through their marketing
strategies. The purchase duration of any car is longer than most of the other purchases of a
household. Apart from these, the automobile industry's marketing department faces hindrance
due to various other non-marketing challenges (Brandmaster, 2019). Such as the price of the
car, maintenance cost, financial condition of an individual, fuel costs, and competitive force
from other companies. Selected company for this assignment is “BMW”. BMW is the
German multinational company which produces automobile and motorcycles. The company
was founded in the year 1945 and headquarter of the company is situated in Munich,
Germany. Registered name of the company is “Bayerische Motoren Werke AG” (Choma,
2019). In this assignment, there will be a discussion about the importance of marketing
strategies adopted by the company for fascinating their buyers. This report will force on
about the internal and external factors of consumers. Apart from this, consumer decision
making model will also be discussed in this report.

MARKETING 5
Marketing Strategies
The targeted audience of the company in the Australian market belongs from the age group of
35 to 50 years who are excelling in their career and who are serious in making higher social
status (bmwgroup, 2019). The targeted audience of the company is the upper-middle-class
people who can afford luxury cars. For fascinating their targeted audience their invest in the
creation of flagship stores. They use television promotion, online promotion, banner &
holding techniques, they also sponsor shows, etc. All these marketing and promotion
strategies help the company to establish a well-defined image in the Australian market
(Brandmaster, 2019).
Importance of developing adequate marketing strategies
Developing effective and efficient marketing strategy is the company's path to acquiring the
best return on their investment. BMW believes in marketing its core values such as
technology, quality, performance, reliability, customer satisfaction, and exclusivity. The
marketing management of the company uses a slogan like "The Ultimate Driving Machine"
and "Sheer Driving Pleasure". Developing an effective marketing plan allow BMW to
identify the gaps in the market. Here, gap signifies that what is the demand of the targeted
audience and what the company is offering in the market (Castaneda, et. al., 2015).
Marketing strategies also help in developing the brand image, market shares and uplift the
sales of the company. It also provides various benefits over the other competitive forces from
rivals. BMW faces major competition from the Mercedes, Audi and Jaguar. However,
BMW’s adequate marketing strategies are truly capable of giving the right direction to the
company. For example, a road map is essential while on the road trip, in the same sense
adequate marketing strategies are also essential in uplifting the business in the market
(Caruana, Carrington & Chatzidakis, 2016).