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Marketing Strategy Assignment : BMW

   

Added on  2020-12-30

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Introduction to Marketing
Marketing Strategy Assignment : BMW_1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1COMPANY OVERVIEW...............................................................................................................1TASK 1............................................................................................................................................1Current marketing strategies of BMW........................................................................................1TASK 2............................................................................................................................................4Recommended strategies for future growth................................................................................4TASK 3............................................................................................................................................7Market campaign.........................................................................................................................7CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
Marketing Strategy Assignment : BMW_2
INTRODUCTIONMarketing may be defined as activities of a company which is associated with the buyingand selling company's products and services. It is the study and management of exchangerelationships and satisfying customers. Marketing of a company is based upon its marketingstrategies which is defined as section of a business plan which outlines the overall game plan forattracting existing and potential customers (Kotler and et.al ., 2015). Marketing strategy informsa market plan, a document which lays out the types and timing of marketing activities. In thisreport BMW is taken as an organisation, which is a German multinational company producingautomobiles and motorcycles and also produced aircraft engines. Present report discuses aboutthe key consumer segments of a company and discusses about the marketing mix of a company.This report also applies Ansoff Matrix frame work to BMW and also suggests the strategies forthe future growth of BMW. Present report also includes marketing campaign plan of BMWwhich will help in improving the current marketing strategies of the company. COMPANY OVERVIEWBMW stands for Bayerische Motoren Werke, which is an automotive company ofGermany which was founded in 1916 by Karl Rapp and its headquarter is at Munich, Bavaria.BMW produces motor vehicles in different countries including United Kingdom. It is the 12thlargest producer of motor vehicles of the world and have produced 2,279,503 vehicles. There aremore than 129,932 employees working in BMW. Its product categories includes cars,motorcycles and engines. UK is known best for the premium and sports car and in June BMWannounced an investment of £500 million in UK over the subsequent 3 years as a part of anexpansion of their mini range to seven models. BMW is the most popular brand across the worldwith a net income of €8.706 billion. TASK 1Current marketing strategies of BMWBMW is a prominent automaker company is vigorously articulating the marketingstrategies on order to create value which should better serve to customer needs. BMW hasimplemented different marketing mix to sell cars to different socio-economic segments and isaggressively emphasising on premium segments (Ryan, 2016). BMW had initiated the goal ofsegmenting the entire premium market in order to fit between the marketing mix in order tomaximise the sales and fit between the purchasing behaviour of the consumers. BMW sells1
Marketing Strategy Assignment : BMW_3
vehicles to customers which has got high standards for luxury, quality and performance as BMWbuilds such attributes in its automobile products (Natalie, 2019). AS BMW concentrates on thepremium segments on the global level and is consistent in designing the brands which renderssuccess to the business of BMW. It has got attractive and trendsetting products which is rangingfrom 3 to 7 series which deliberately focuses on affluent customers which demonstrates thesuccess of the BMW's global marketing strategy and it also represents the leadership throughinnovations. Comparison between the marketing strategy of BMW and Aston MartinBMW Aston MartinBMW is primarily focused on manufacturinghigh luxury four wheelers and two wheelersand also offer some products for high level ofpersonalisation to its customers while majorityof its products are offered as standard.Aston Martin build cars for serving upper classand higher class customers. Aston Martin carsare highly customisable which provide optionsto customers to customise their cars. BMW's is a renowned brand and providemanufacturing facilities to many cities acrossthe world. Aston Martin showrooms are only located atthe rich locations where only a rich and upperclass customers can shop.BMW attracts its customers through aggressiveadvertising such as T.V, media, ads, etc. Aston Martin designs to reinvent themselvesand now wants to design such cars which willbe able to attract young audience and womentoo.Competitive AdvantageAS BMW is facing high level of competition in the automobile industry so, its isimportant for the organisation to have a competitive advantage within the industry. BMW shouldbe able to satisfy the elite class more and more with its design and quality which should be ableto satisfy them (Armstrong and etal., 2015). BMW should maintain the culture of productinnovations and keep on advancing its technologies which can help in gaining the competitiveadvantage. Also, BMW should provide better and effective services to customers is post sale andpre-sale services to customers this can also help in gaining the competitive advantage.Consumer segments which help in driving the growth of a company2
Marketing Strategy Assignment : BMW_4

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