Target Marketing - Bmw

Target Marketing and Market Segmentation

Table of Contents

Title Page 1

Executive Summary 3

    1. Market Definition 4

    2. Market Targeting 4

              1. Segment 1 5

              2. Segment 2 5

    3. Market Profiling 6

          1. Segment 1 – Older Affluent Professionals 6

      3.2 Segment 2 – Young Male Affluent Professionals 7

  4. Product Attributes 8

              1. BMW Series 7 – Segment 1 – Older Affluent Professionals 8

              2. BMW Z4 – Segment 2 – Young Male Affluent Professionals 8

5. References 9

Executive Summary

      The Australian Automotive Market is one of the largest and fastest growing industries in the Australian economy. BMW is a world renowned automotive manufacturer and one of the leading designers of luxury and luxury sport vehicles. This report aims to identify the market that BMW is involved in and to further investige some of the target market and market segmentation strategies that BMW uses to claim its market share.
      It will also examine two specific target markets that BMW operates in and the typical customers contained in that target market. This report should allow us a better insight into BMW marketing strategies and enable us to continue on with more indepth reports if necessary.
1. Market Definition

      A market is defined as “a group of individuals and/or organisations that have needs for products in a product class and have the ability, willingness and authority to purchase those products” (Pride et al, 2006, pg 38). This report aims to take that definition of a market and use it to analyse the marketing strategies and positions maintained by the Bavarian Motor Works Group, commonly known as BMW.
      According to a report published by Frost & Sullivan (2005), the Australian Automotive Market has emerged as an integral part of the Australian economy,... [continues]

Read full essay