Marketing Strategies for BMW
Paper covers Current Marketing Strategies & Future Marketing Strategies
BMW Group, headquartered in Munich, Germany, is one of the most successful multi brand premium automobile manufacturers in the world. The company manufactures, distributes and sells passenger cars (including Sedans, Coupes, and Convertibles etc) and motorcycles. BMW operates three business segments namely: Automobiles, Motorcycles and Financial Services. BMW is the parent company of the Mini and Rolls-Royce car brands, and, formerly, Rover (car)/Rover. The company's slogans in English are "The Ultimate Driving Machine" and "Sheer Driving Pleasure". The company produces, and markets, a varied range of higher end sporty cars and motorcycles. BMW has also manufactured the first passenger car running on hydrogen ready for common use, although the production figures are limited by the lack of a respective filling station net. In addition to cars and motorcycles, BMW operates an aircraft engine division under the brand name of Rolls Royce. The company has worldwide subsidiaries and manufacturing plants in Germany, Austria, the UK, the USA, Mexico, Brazil, South Africa, Egypt, Thailand, Malaysia, Indonesia, the Philippines and Vietnam. BMW Group is comprises of many segments within its vast portfolio but I would be only concentrating on Automobiles. BMW group are focused on fabricating a variety of tangible products, and also the group has many intangible financial services. The BMW Group’s automotive which I am more interested in this easy is portion of their portfolio consists of the three premium brands: BMW, MINI, and Rolls-Royce of which I would be more only looking at BMW and would also demonstrate their marketing. BMW is supported by 11 different model series which are: BMW C1, BMW 1 series, BMW 3 series, BMW 5 series, BMW 6 series, and BMW 7 series, BMW X 3, BMW X 5, BMW X 6 and the BMW Z4, BMW M5, BMW M6, and BMW Z4 M.
Well I agree with the below statement which is being provided by BMW group which states that the BMW offers emotional product to the customers this could be seen or felt with their current marketing strategies also with their SWOT analysis, PLC and as well as Research and Development."We offer our customers emotional products, which through the strength of the brand and the substance of the product fulfil the customer’s wish for individualisation and differentiations”. (Reference- Case, Page 741).
BMW’s mission statement is clearly defined as “To be the most successful premium manufacturer in the industry”, (Reference- www.bmw.co.uk). The main reason of BMW’s success is recognized by the development of a steady marketing policy. The company has built its brand and continues to focus on the following core values which is shown in the below figure.
BMW has always maintained these core values since the company’s inception. In addition to the message of these values we can see it in advertising campaigns on television, press, magazine, trade fairs, motor shows, etc. We can also find company explicitly expresses one or more of these values in all BMW advertisements. However, we can also point out that BMW also bank’s on the sensitively to the environment, which we can see with the current advertising strategies of the company. BMW has always used a differentiated strategy, this means that they aim on a specific automobile markets. These markets suit different people within the specific segmentation. The markets that BMW would normally or likes to target are Sports Convertibles (Z3, 3 series, and new Z4), Executive (3 series, 5 series), Super Executive (7 series), Touring / Estate (3 series, 5 series), Super sports (M series), and 4X4 (X5). Let have a look at BMW competitor analysis where we can find BMW is a provider of premium cars and primarily serves for customer as if life time experience for them. BMW ensures to have full satisfaction to their customers. And...
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