BMW, or Bayerische Motoren Werke AG, is a German luxury automobile manufacturer known for its high-quality, performance-oriented vehicles. The company's product mix consists of a range of vehicles including sedans, coupes, convertibles, and SUVs, as well as motorcycles and electric vehicles.
One of the standout features of BMW's product mix is the diversity of its offerings. The company caters to a wide range of customer preferences and needs with its various vehicle categories. For example, those looking for a sporty and agile driving experience can choose from the BMW 2 Series, 3 Series, or 4 Series coupes and convertibles. On the other hand, those in need of a larger and more practical vehicle can opt for the BMW X1, X3, or X5 SUVs.
In addition to its diverse vehicle offerings, BMW is also known for its commitment to innovation and sustainability. The company has a strong presence in the electric vehicle market with its BMW i subbrand, which includes the popular BMW i3 electric car and the BMW i8 hybrid sports car. BMW has also made significant investments in developing and producing electric motorcycles, with the BMW C evolution scooter and BMW eRR motorcycle being among its most popular models.
Another important aspect of BMW's product mix is its focus on luxury and exclusivity. The company's vehicles are known for their high-end features and materials, as well as their attention to detail and craftsmanship. This is reflected in the premium price points of BMW's vehicles, which often compete with other luxury brands such as Mercedes-Benz and Audi.
In summary, BMW's product mix is characterized by its diversity, innovation, sustainability, and luxury. From sporty coupes and convertibles to practical SUVs and electric vehicles, the company has something for every customer who values performance, quality, and exclusivity in their vehicles.
Marketing and Pricing Strategy of BMW
If yes, then which needs of which of your customers? BMW Group is engaged in development, manufacturing and the sale of engines as well as all vehicles equipped with those engines. Its price is also reasonable according to the features provided in it. Dimensions of BMW PRODUCT SYSTEM: - Product System or product assortment is a set of the total number of product lines that a BMW offers in the automotive market to its buyers, The company may have several product lines all sedan series1,2,3,4,5,6,7,8 — X series — I series… , and each product line may have several products. High level of reliability of BMW Group vehicles and advanced set of features and capabilities integrated into the vehicles come for expensive prices. This is why they have such flexibility in models, as well as their ability to build additional numbers of certain models in other plants, if necessary. Promotion Promotion is used by BMW of a Method of communication to provide information to different parties about the Product. Combining virtual and augmented reality, BMW Art Car 18 has features from VR and AR, and is designed by Chinese artist, Cao Fei.
WCRS has been the advertising agency of BMW Group since 1979. It should identify opportunities within the market and introduce new products that make use of these opportunities. This should give you a sense of understanding that and will now help you understand the BMW Marketing strategy even better. Starting its manufacturing unit from Bavaria, Munich gained new customers across the globe. The company did so by hiring Fallon Worldwide, an advertisement agency, to come up with new campaigns. Superstitials are highly interactive, non-banner ads that can be any size on the computer screen and up to 100k in file size. In comparison with Mercedes-Benz, the car that is in the same class as the 1 series would be the A- Class.
It is a close sponsor for many sports events and rally racing events. The reputation and brand identity earned by so many years of existence, can be leveraged to acquire new customers 4. Overall, however, the pricing has been clear to attract the premium and niche markets of automobiles. It comes in the big three luxury German cars manufacturers- Audi, BMW and Mercedes. These automobiles are manufactured in the specific places, which has all the certain needs for every segment.
The iconic cricketer Sachin Tendulkar, a massive admirer of BMW and West Indies cricket team captain Darren Sammy, was roped in to be their Brand, Ambassador. BMW Group employs more than 1 million employees in more than 40 countries. The company started out as a motorcycle and heavy duty aircraft engines manufacturer, later diversifying into automobiles as well. BMW enjoys a huge worldwide desire for its vehicles and has been an iconic status symbol in many locations to own the BMW that is parked in your driveway. Through the use of this system, the time frame when the vehicle can be built with the desired fitting is configured within a few seconds and is reserved in the production process immediately Ludwig, n.
Finally, the competition of FOG and the product itself will be demonstrated. It has over one hundred thousand likes or customer following on these pages, which are exposed to frequent content uploaded by. In fact, BMW is a product that stands above the rest requiring very little if any comparison to other brands as buyers already know exactly what they are looking for when in search of this particular type of vehicle Holloway, 2002. With this, we come to the conclusion of the Marketing Mix of BMW. It also shows when creative and engineering prioritizes speed from the beginning of the project, before the first line of code is written. The second is where it sells to wholesalers who then sell to different retailers located all over the country. The marketing mix is used by businesses as a tool in marketing.
This trend triggers the consumers to demand and pay much higher prices for the perceived quality. Thus, helping the organizations for launching new products or revising existing ones by devising a strategic plan. As the company is the local company of Australia it has a good dominance over the market in the country and people also rely on the company very much. Get Help With Your Essay If you need assistance with writing your essay, our professional essay writing service is here to help! Conclusion This BMW Marketing Strategy of producing short films way back in 2001 gave us a big lesson on market segmentation and targeting. The facility can produce 11,000 units per year at the highest output. BMW tells its customers and other people that BMW cars give a pleasure in driving that no other car can give.
Promotion: The BMW Group uses different slogans and advertisements for the promotion of its products. The price elasticity of the car will affect the demand and the sales of it so a price that compliments the rest of the marketing mix is more likely to be more of a success. Also, the 1 series has a better overall ride quality and handling than the A-Class, where the 1. Similarly, Mercedes company manufactures four different types of Cars — Sedan, SUVs, Electrified cars, and Hybrid cars, So Its product mix width is 4. In Marketing Mix Of BMW, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions.
Additionally, the 4Ps were used to determine the product, price, place and promotion of BMW. There was a decrease of 10. And therefore, you need to choose which segments s you plan to target. The CEO of BMW Group, Norbert Reithofer has emphasized his strategy of expansion in emerging and developing markets. Also the markets BMW target and how BMW group as an automobile industry faced the recession period. BMW has setup its manufacturing facilities in many smaller and emerging markets recently.
BMW Motorrad, too, is focused on the highest quality of engineering products. While USA was the leading market of BMW and MINI automobiles in 2008 and 2007. Width — Number of Product lines - Width or breath of the product mix means the total number of product lines that BMW Company offers to sell. When the youngsters grow up and earn their moolah, they will aspire for BMW, the car which they fancied about since years So somewhere with the crisp segmentation and targeting and with this beautiful campaign that went on for 3 seasons and quite a few years, BMW assured sustained popularity and the patronage in the years to come. The essay is composed of two main parts.