Principles and Practice of Marketing: Doc

Running head: PRINCIPLES & PRACTICE OF MARKETING
Principles and Practice of Marketing
[BMW, UK]
Name of the student:
Name of the university:
Author note:

1PRINCIPLES & PRACTICE OF MARKETING
Table of Contents
Background report:..........................................................................................................................3
1.0 Introduction:..............................................................................................................................5
1.2 Background on BMW:...........................................................................................................5
2.0 Question 1-Key terms and definitions:......................................................................................6
2.1 What is Customer Relationship Management (CRM)?.........................................................6
2.2 What is Market orientation?..................................................................................................6
2.3 What is Customer centric?.....................................................................................................7
3.0 Question 1- Customer Relationship Management (CRM) techniques......................................7
3.1 Range of CRM techniques.....................................................................................................7
3.2 Range of CRM techniques for BMW and its effectiveness...................................................8
3.2 .1 State the CRM technique...............................................................................................8
Benchmarking-........................................................................................................................9
4.0 Question 1- Recommendations to improve current CRM techniques.....................................10
5.0 Question 2- Promotional Mix techniques................................................................................11
5.1 Key terms and definition.....................................................................................................11
5.2 Promotional mix techniques used by BMW........................................................................11
5.3 Evaluation of the current promotional mix techniques used...............................................14
5.4 Suggestions for other promotional mix strategies which could be used.............................14
ATL (above the line) and BTL (below the line)-..................................................................14

2PRINCIPLES & PRACTICE OF MARKETING
AIDA-....................................................................................................................................15
6.0 Conclusion...............................................................................................................................16
References:....................................................................................................................................17

3PRINCIPLES & PRACTICE OF MARKETING
Background report:
The study covers an analysis made on the CRM (customer relationship management)
techniques used by world renowned BMW. It also highlights the different techniques which
BMW uses as promotional techniques. BMW had needed CRM which could empower them to
enhance the advancement of their products, and especially underpins the focus on specific
customers. When hoping to change their CRM, BMW were centered on finding a product which
could enable them to advertise their new ActiveE machine. By focusing on customers and
attracting them to test drive the ActiveE machine, they had gone a mile and had left a quite a
good impression on customers. BMW consolidated this with online networking CRM which
associated their more extensive group of viewers to the test drives which further helped the
vehicle to reach to a bigger customer base.
The fact just shows that BMW had successfully integrated their CRM with the marketing
network and were able to influence a quite a lot of customers. They were able to study the core
sentiments of their target customers. Searching for other client related advertising tools, BMW
centered upon specific zones in their existing data collection to consider those. For example, they
preferred addressing the budgetary cost of collecting data of potential customer’s information,
and furthermore cut back expenses on the time needed to process the data.
2012 saw BMW positioned as the world's most legitimate organization by Forbes.com.
Criteria incorporated 'individuals' keenness to purchase, prescribe and to work for' the
organization. Unusually, the appropriate responses were driven 60% by perception of the
organization, and 40% by perception of the organization's authentic products. It is realizable that
to assemble positive brand recognition, it takes years and the same has happened with BMW.