Section A
A1.
a. It is also defined as the activity, set of institutions and processes for creating, delivering and exchanging offerings that have value for customers, and society at large. Marketing is used to create, and satisfy the customer. With the customer as the focus of its activities, it can be concluded that it is one of the premier components of business management. The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. It is a set of processes that are interconnected with other functions, whose methods can be improved using a variety of new approaches. (Julietdeltalima, 2017)
b.
The Production Concept. It holds that customers will favor those products that …show more content…
Let’s see how BMW uses segmentation to identify specific buying characteristics. To find more information BMW looks at the geographic, demographic, behavioral, socioeconomic, and beneficial characteristics of society which helps them to target the market more effective. Geographically, the main markets for BMW where they are doing more than 65% of sales are Europe & North America as these areas are both heavily industrialized locations which results into residents are financially positioned to buy upper market cars as they capita income is more. The demographics of people who are able to purchase a BMW are men and women aged 30 – 50 years old. Behaviorally these people have a successful image in their mind before buying the car; they also like to want a clean modern look or sports look, and the feel good factor of an established dealer network. The benefits required by these people are superiority, performance, reliability & quality. The image that BMW has managed achieved over the years is to position its self on the customers mind is superiority, performance, technologically advanced, quality automobile. BMW has always used a differentiated strategy, this means that they aim on specific automobile markets. This markets suit different people within the specific segmentation. The markets that BMW would normally or likes to target are Sports Convertibles (www.slideshare.net,
A1.
a. It is also defined as the activity, set of institutions and processes for creating, delivering and exchanging offerings that have value for customers, and society at large. Marketing is used to create, and satisfy the customer. With the customer as the focus of its activities, it can be concluded that it is one of the premier components of business management. The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. It is a set of processes that are interconnected with other functions, whose methods can be improved using a variety of new approaches. (Julietdeltalima, 2017)
b.
The Production Concept. It holds that customers will favor those products that …show more content…
Let’s see how BMW uses segmentation to identify specific buying characteristics. To find more information BMW looks at the geographic, demographic, behavioral, socioeconomic, and beneficial characteristics of society which helps them to target the market more effective. Geographically, the main markets for BMW where they are doing more than 65% of sales are Europe & North America as these areas are both heavily industrialized locations which results into residents are financially positioned to buy upper market cars as they capita income is more. The demographics of people who are able to purchase a BMW are men and women aged 30 – 50 years old. Behaviorally these people have a successful image in their mind before buying the car; they also like to want a clean modern look or sports look, and the feel good factor of an established dealer network. The benefits required by these people are superiority, performance, reliability & quality. The image that BMW has managed achieved over the years is to position its self on the customers mind is superiority, performance, technologically advanced, quality automobile. BMW has always used a differentiated strategy, this means that they aim on specific automobile markets. This markets suit different people within the specific segmentation. The markets that BMW would normally or likes to target are Sports Convertibles (www.slideshare.net,