Marketing Orientation
Summary One of the cutting edge innovations is marketing orientation in the field of Business Administration. A lot of companies are adapting this technique to attain their organizational goal. Automobile industries like BMW, Mercedes Benz, Audi, Volkswagen etc are already implemented this method in their profile. In this context, how can implement marketing orientation in any industry with an example of an automobile company BMW’s procedure. In accordance with the steps included market segmentation, market targeting and market positioning.
Marketing Orientation in BMW- The Ultimate Driving Machine
BMW started in 1916 as an Aircraft engine manufacturer in Bavaria, Germany. Bavarian Motoring Works shortly named BMW. In 1929, BMW established their car manufacturing company in Bavaria. Then onwards they mainly concentrated in car production sector. More over BMW has the production of aircraft engine and motorbikes. Their products are based on customer satisfaction. They have variety of products in every section to accomplish customer needs and satisfaction, and their models like 1 series, 3 series, 5 series, 6 series and 7 series representing value, performance, style, engine capacity and technologies used. From this context, BMW is a marketing oriented company. There are three steps in implementing marketing orientation in a firm. They are market segmentation, targeting and positioning.
Market Segmentation Identifying and separating a bulk of groups and their needs within the market is called market segmentation. ‘Mass marketing’ is the leading procedure behind the marketing orientation. Mass marketing includes mass production, mass distribution and mass advertisement to achieve target market satisfaction. Mainly there are four marketing sections, segment, niche, local and individual marketing, (Kotler et al, 1999). Variables in the market segmentation are, (Ferrell and Hartline, 2008).
Geographic
Marketing Orientation in BMW- The Ultimate Driving Machine
BMW started in 1916 as an Aircraft engine manufacturer in Bavaria, Germany. Bavarian Motoring Works shortly named BMW. In 1929, BMW established their car manufacturing company in Bavaria. Then onwards they mainly concentrated in car production sector. More over BMW has the production of aircraft engine and motorbikes. Their products are based on customer satisfaction. They have variety of products in every section to accomplish customer needs and satisfaction, and their models like 1 series, 3 series, 5 series, 6 series and 7 series representing value, performance, style, engine capacity and technologies used. From this context, BMW is a marketing oriented company. There are three steps in implementing marketing orientation in a firm. They are market segmentation, targeting and positioning.
Market Segmentation Identifying and separating a bulk of groups and their needs within the market is called market segmentation. ‘Mass marketing’ is the leading procedure behind the marketing orientation. Mass marketing includes mass production, mass distribution and mass advertisement to achieve target market satisfaction. Mainly there are four marketing sections, segment, niche, local and individual marketing, (Kotler et al, 1999). Variables in the market segmentation are, (Ferrell and Hartline, 2008).
Geographic