BMW Marketing Excellence (Business & Marketing Case Study)

BMW Marketing Excellence
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"BMW Marketing Excellence"
Part 1
1.1 Consumer Buying Process for BMW
BMW is a high involvement product. It is a premium brand. The company is rethinking dealership experience. The company is ensuring that the space is more inviting and engaging. A current customer is more aware of what they need and how to attain it. Earlier, BMW was a symbol of the status quo, but now the consumer wants more designs and styles. (The Case, n.d.). They now seek a variation in the colour and design and then decide on the model. Lastly, the consumer considers pricing. The process has very much reversed for BMW. Today's customers experience the product far differently than that they did five years back. (Lewin, 2016). There is a marked difference in the decision-making process.
1.2 Recommended Use of Data Analytics
BMW is a high-tech company, and its business model is technologically advanced as well. Big data technology lies at the heart of the company's business model. BMW believes in developing cars that can drive themselves. For developing such a vehicle, the company needs to have infographics on people's perception regarding such technology. Bringing a technology too soon in the market when the customer cannot understand can backfire (Hall, & Rathbone, 2016). Thus, an analysis is needed to be conducted to adapt the right strategy to target the customer and ensure that the customer responds to the company's offering.
1.3. Targeting
The company's target consumers are from the upper class, as affordable for this particular social class. A typical BMW customer lies between (35 and 50) a person who excels in their career and tastes for aspirational products that can add value to their particular lifestyle. Attributes appreciated by this kind include performance, reliability, and quality (Weiss et al., 2020). BMW is positioned as a product of quality, technologically advanced, and an exclusive brand.
1.3.1. What BMW Does Well
BMW creates the ultimate driving machine. It does not make any difference in the machinery and product that it produces. It aims at giving the best possible experience for the driver of the car. The company has better understood its customer and has molded according to changing times. (Ershova, & Kuznetsov, 2019) Adaptability is one of the company's core features, which has helped sustain itself through the years.
1.3.2. What BMW Could Do Better
BMW needs to work on designing the cars; one cannot differentiate one from the other. Dramatic changes are not needed, but the company's uniqueness is something on which needs to work. (Bicho, 2019). It has incorporated the latest technology in each of the models launched and maintains reliability along the way through excellent performance. (The Case, n.d.). However, the company needs to work on the design of the model to entice the consumer.
Part 2
2.1. Situational Analysis:
The company needs to increase its presence on social media sites. According to research, consumers use the internet for almost everything today. The consumer heavily relies on experts' opinion; however, BMW still has a low presence on the online platform. (Jiang, 2018). It can create a gap between the consumer and the company.
2.1.1. PESTAL
Political. In the international business case, the government's rising role has led to the need for a particular focus on the political factor. The company has been affected by Brexit and trade wars. These factors have had a moving impact on the company in the previous year.
Economic. Local economies have an impact on the automobile, and the global economy grew at 3.7%. The demand for BMW was at its height in the past year (IMF, 2020). Political stability remained; however, the economies around the world observed growth, which shows a business's positivity.
Social-cultural Factors. Businesses are focusing on building a better relationship with their consumer. Digital technology is changing every industry, but it is also the way of living of people too. Most organizations are now using digital platform for increased visibility for the consumer (Vantrappen, & de Jong, 2018). Cultural of an area impacts the choices that people make for the purchases they make.
Technological Factors. The company is investing in technology to improve the consumer's quality of experience and make cars safer and better experience. It enables the company to tap into newer consumer segments. It is helping in improving the efficiency of the company (Kauerhof, 2017). The company believes in introducing autopilot vehicles soon.
Environmental Factors. BMW is applying an efficient strategy to control its footprint. Incentives are being given to organizations with the government's lowest carbon footprint (Hillyer, 2019). Another significant advantage of producing sustainably is reduced operatio...