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Strategic Marketing
This paper was written by Alexander Buachidze
under the direction of Johan Reyneke
,
to comply with the Final Report of “Strategic Marketing” course.
Date: 07.11.21
www.euruni.edu
Contents Executive Homework help – Summary 3 Homework help – Summary from Assignment 1 3 Body 4 Market Segments 4 Value proposition 5 Positioning 7 Competitive Advantage 9 Ethical and Sustainability issues 10 Conclusion 10 Help write my assignment – Bibliography 12
Executive Homework help – Summary
Bavarian Motor Works (BMW) is a German automobile, motor bikes and engine manufacturing firm that was developed in 1917. Most of the stake in the firm is owned by strategic investors globally. BMW is basically perceived to be a premium luxury cars manufacturer majoring on the rich as well as the upper class society. A basic customer of BMW is one between 35 and 50 years is performing well in her career have a taster of aspirational items and values his own social status. The advantages are needed by these individuals are superiority, performance, effectiveness as wee quality. In this review we will analyze the markets segments, value proposition, positioning as well as competitive advantage of the firm.
Homework help – Summary from Assignment 1
Bayerische Motoren Werken AG (BMW) is a German multinational corporate manufacturer of luxury vehicles as well as motorcycles. Its headquarters are in Munich, Bavaria in Germany. BMW’s partnership with premium product is founded on its mission and vision statement that is the reason why it essential to evaluates these statements. In regard to the 5C of marketing, with company analysis, BMW tends to spend considerable amount of resources or research as well as innovation in regard to product design, process optimization and establishing IT network. BMW provides a strong value proposition for the brand. It is the ultimate driving machine. Though one requires money to own it, it provides loyal fanbase which improves luxury as well performance. The firm as well stands up for first class mobility and enhances sustainable development of the world. They have the ability to reconcile the economy, ecology as well as the society.
Body
Market Segments
Each firm realize that they cannot appeal to all purchasers in the marketplace at least not to all of them in the similar ways. Buyers tend to be different in or various ways in regard to wants, resources, locations, buying perspectives as well as buying prices. Through market segmentation firms have the ability to subdivide large market into small specifies segment that can be attained more efficiently with items as well as services to align their rare needs. BMW tends to be well knowledgeable about this, they have specific their market segment and generate goods as well as services to handle this market segment requirements as well as needs.
The various methods used for segmenting the market include geographic segmentation which involves, region, nation, size, city size, density, and climate; demographic segmentation mainly involves age, gender, family size, family life cycles, income, occupation, education, religion, race as well as nationality; psychographic mainly involves social class, lifestyle and personality; and behavior segmentation mainly involves purchase occasion, benefits sought, user status, usage rate, loyalty status, readiness state, and attitude toward the items (Dolnicar 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online).
BMW segmentation mainly involves several aspects.in geographic the firm aims at the whole world. In regard to demographic the firm mainly aims at the individuals between the age of 30 to 65 years; with gender it majors on both male and female; for family cycle the firm majors on singles, married with and without kids; income $3000 and above; occupation professionals and technical, managers; education: university, post graduate, professionals; religion: any; and race: any; nationality: any. In regard to social class, the firm majors on middle class, upper middles, and the lower uppers; for lifestyle achievers their clients are strivers and the for their personality they tend to be ambitious and successful. In regard to behavioral aspects the their clients tend to enjoy the sought prestige, comfort, quality, and reputation (Melancon & Dalakas 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online)
BMW is known for its series which include BMW 3 series, the BMW 5 series and the BMW 7 series. BMW 3 series are meant for customers between 30 to 35 years old who are young professional working at may be a private equity company. BMW 7 series are meant for individuals between 55 to 65 years. They can be CEO as well as old senior management individual. BMW series 5 is mainly used by persons between 40 to 55 years.
Value proposition
BMW provides a strong value proposition for the brand. It is the ultimate driving machine. Though one requires money to own it, it provides loyal fan base which improves luxury as well performance. The taglines that they use in promoting their products provides a promise that is steeped in hyperbole. The firm has taken the challenges of effectiveness and they look forward to making the challenge a part of their culture. They invite their clients to identify if or not that which they are saying is right or not. Use of hyperbole in branding as well as advertising brings out indisputable confidence, ambition as well as elevation on the fray. As the customers, we know how to internalize the grandiloquent assertion prior to applying our judgment to the decision of being part of the firm. The firm has effectively position itself as doing that which they do better, acknowledging the needs of their clients and bringing out the information in a confident way.
Clients should purchase BMW products for a variety of reasons. Their goods were of indisputable quality. BMW goods are a blend of German engineering and cosmopolitan flair that cater to the demands and wishes of luxury clients worldwide. The firm uses a variety of procedures, including power on the hood. If luxury automobile buyers choose a simple and effective model, or a high-output road-burning vehicle, they are certain of a premium rise as well as the best handling experiences. BMW offers excellent acceleration as well as adequate power beneath the hood.
Though they have established major value proposition, they have majored on the millennial generation as their new target while formerly they majored on mature as well as monetary appropriate buyers. BMW as well has longest as well as colorful histories in the field of automotive given that they are the developers of gasoline and diesel engines (Williams 2019: 2024 – Online Assignment Homework Writing Help Service By Expert Research Writers). They’ve had about 60 years of developing process with the totality of their historical product line majoring on luxury and quality. With the several product lines, the firm aims at providing solutions to all clients including the commercial, industrial as well as consumer requirements majoring on quality as well as luxury at an affordable price.
The firm is highly dedicated to quality instead of quantity. The firm reengineers automotive safety as well as based on the firm’s cutting edge progresses in car safety and connectivity. The firm majors on delivering the most appropriate or nothing, safety should come first. This is the reason why the firm dedicates it’s time to moment they hope never happens. With the invention of the crumple zone to countless innovation in occupant protection as well as accident avoidance, the safety firsts of BMW has put in place guidelines which all the automotive should follow. Part of the firm’s value proposition is founded in safety as well as innovation they have put in place and continue to lead the industry in.
The firm as well stands up for first class mobility and enhances sustainable development of the world. They have the ability to reconcile the economy, ecology as well as the society. Due to this clients enjoy outstanding products and demonstrate responsibility. They as well provide thrilling items. Their high profitability tends to safeguard their independence as a firm and they use appropriate innovations as well as passion to redirect the future of sustainable mobility. Their product are appropriate since they use pioneering technologies, emotional items as well personalized client support to establish a basic experience.
Positioning
BMW does involves making employees informed on what the products are as well as how essential the brand is to the clients. One method of looking at the brand positioning is by the emotional brings out the consumers when they see as well as hear the firm’s tagline. For instance for BMW, the tagline is “The ultimate driving machine.” When clients have a view on this they tend to be more powerful as well as trustworthy . Thus when clients see BMW vehicles, they tend to get a sense of safety. BMW positions an efficient brand in the market given that the brand is well known by the clients as well as well defined by the clients. Nonetheless, BMW’s tagline tends to be so plain and does not bring out its rare features, it is thus difficult for clients to have a detailed as well as impressive impression upon seeing the vehicle’s logos (Kotiranta 2017).
With the tagline, “The ultimate driving machine” and “Sheer Driving Pleasure,” BMW ensures that individual selects its items. The firm is required to identify where it confidently suggests to clients that the products are more enjoyable. BMW tends to be doing well with the slogan. They as well tend to employ a strong advertisement. Famous actors for instance Tom Cruise have been featured in BMW advertisements. Majority of the individuals tend to skip advertisements, however when they are shot well they tend to catch people’s attention.
It has always been a recommendable move to generate new as well as diverse items. The luxurious cars which BMW provides have led to the risen prices. When creating a new model, lots of income and time tend to be at risk. BMW own an Intel Xeon Processor’s help. This maintains a good balance of costs as well as the development of new things with reduced risk. There is a chance for prototypes to be virtually evaluated prior to its final development. Additionally, given that BMW id a global firm there tends to be few roles it has to implements. BMW tends to have an intercultural comprehension which is an essential factor especially in regard to its clients. Due to this, it majors on education people as much as they can. The firm majors on offering similar job opportunities as well as developing opportunities for informal education.
BMW is influential and major on being unique. Basically it tends to have competitors that it tries to beat. There are designed in a way that tends to be impressive as well as nice looking. Lastly it is as well knows that it has a major effect on the world. This causes us to believe that BMW is the leader in the automotive industry.
Competitive Advantage
There are several aspects that BMW has put in place in order to remain at the top of other firms. BMW has maximized its lines of environment-friendly cars. It tends more inhybrids as well electric mobility. The need for electric cars developed since is clients are in search of cars which are of low environmental impact. BMW as well invests lots of technology and making its cars to be safe and minimizing their carbon footprint. Product quality is as well an essential sources of differentiation in the automobile sector. BMW is a luxury car brand. It makes luxury as well as sports cars which comes at a premium price tag.
BMW group has put in place a global research as well as development network to improve technological innovation in a firm. Each year BMW has kept developing its investment in research and development. There is maximized competitions and higher regulation in relations to passenger safety as well as environmental effect of cars. Nevertheless, majoring on research and developed has aided BMW to establish new, more efficient, as well as more attractive car models to the market thus resulting to increased sales and popularity (Madic, Markovic, & Mijuskovic 2021). Technological creativity is as well as an essential source of competitive advantage for the BMW.
BMW has a large product range that allows the firm to serve several classes of clients with various preference. Far above BMW, the BMW Group as well owns Mini and Rolls-Royce brands. BMW has led to a number of most popular cars as well as motorcycles to the Global market in the premium parts. The firm’s model are established with a major on luxury, creativity as well as sustainability.
Ethical and Sustainability issues
In regard to corporate social responsibility is major issue in the firm. In regard to the CSR by environmentally conscious reforms. BMW involves twofold technique. It involves the creation of green based supply chain and green based production by improving its products as well as manufacturing practices (McElhaney,Toffel & Hill 2017). BMW is as involved in public welfare. The firm attains this through several pathways. The firm has as well established three essential publications were generated in recent times bringing out its commitments to ethical responsibility. Basically BMW tends to be sustainable, ethically as well as socially responsible firms globally.
Conclusion
Bavarian Motor works majors on innovation, dedication and determination. BMW is among the most known brands around the globe. It produces items which are known for quality, utility as well as style. Currently the firm is a global firm which yearly generate many engines, motorcycles as well as cars. BMW develops its products as a combination of luxury, safety as well as comfort with product lines to fit all styles of living. Profits have been rising every year as a result of automobiles and motorcycles. BMW provided options to family based clients, rich conservatives that require luxury and those that need bigger vehicles for outdoor operation and those requiring flamboyant cars.
Help write my assignment – Bibliography
Dolnicar, S., Grün, B. and Leisch, F., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online. Market segmentation analysis: Understanding it, doing it, and making it useful (p. 324). Springer Nature.
Kotiranta, V., 2017. Corporate brand positioning and differentiation in the luxury automotive industry (Doctoral dissertation, Tesis para obtener el grado de Máster en Business Management. Oulu (Finlandia): Universidad de Oulu.< http://jultika. oulu. fi/files/nbnfioulu-201705101764. pdf).
Madić, V., Marković, D. and Mijušković, V., 2021. COMPETITIVE STRATEGIES IN PREMIUM AUTOMOTIVE SEGMENT. TEME, pp.639-659.
Melancon, J.P. and Dalakas, V., 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online. Consumer social voice in the age of social media: Segmentation profiles and relationship marketing strategies. Business Horizons, 61(1), pp.157-167
McElhaney, K.A., Toffel, M.W. and Hill, N., 2017. Designing a sustainability management system at BMW Group: The Designworks/USA Case Study. In Strategic Sustainability (pp. 76-90). Routledge.
