Marketing Strategy: Bayerische Motoren Werke: Bmw)
Bayerische Motoren Werke abbreviated and known as BMW, is a German luxury vehicle assembling plant which was founded in 1916. Franz Josef Popp, Karl Rapp and Camilo Castiglioni are the three founding partners of BMW. BMW is one of the top-listed automobile companies in the world. There are various BMW series ranging from 3 to 7 series..
A good market strategy focuses over the marketing mix to gain maximum profit and have a long term business life. An organization’s marketing strategy is successful only if all of its marketing goals are combined into one long term plan. Marketing strategies are the backbone of marketing plan. BMW targets a niche segment which consists of consumers who wish to buy high quality and deluxe automobiles.
BMW marketing strategies are ones which are acceptable globally as it does not aim over different marketing strategies for different regions. BMW believes that student can bring in more innovation therefore they hire young energetic students to conduct such modernization. The company also uses mode of advertisement …show more content…
BMW is the leading automobile manufacturer and the seller in the world. The sales keep on rising profusely. Yet a big treat lingers over BMW – the rising competition in automobile industry. Competitors such Audi, Mercedes-Benz, Bentley are some of the rising threats to BMW.
As BMW uses both the type of data collection techniques – that is primary and secondary – the marketing strategies are effective and helps in establishing a strong customer base and brand image by bring out new innovated series. By using questionnaires as my primary research tool, we got the quantitative facts and figures such as preferences and priorities of people, their desires related to automobiles and customer’s willingness to spend on a