BMW's Marketing Mix
BMW’ s Marketing and advertising Mix Essay Sample
The marketing mix is used simply by businesses as a device in marketing. It is usually often used when identifying the products or providers brand. It usually consists of the four Playstation; they are Price, Product, Promotion and Place. Beneath is an example regarding what is a part of each of the 4 P’s and exactly how it helps BMW in selling usana products to be able to the consumer:
BMW is one regarding the leading manufactures in high-quality automobiles that are usually available in a variety of designs and styles. BMW offers it customers a range regarding different automobiles from little to large cars, SUVs, convertibles and motorcycles. Their own sleek design and nice appearance of all THE CAR vehicles has allowed the particular brand to develop an outstanding reputation for itself within the luxury car market and to give by itself the slogan “The Best Driving Machine. ”
Create a Marketing Mix for your chosen BMW vehicles by mainly concentrating on the one collection as this is a new vehicle that BMW have newly introduced available in the market to be able to increase market share in addition to to contend with rivals this kind of as VW and Kia in the hatchback marketplace. Mainly focusing on the Price, Product, Place plus Promotion of BMW Items.
Price are the amount that the customer is willing to pay regarding a given products or services and this is important as it determines the company’s profit and survival inside the market. The price of BMW’s one Collection is important to the business as it is arranged at the higher end regarding the market spectrum. The starting price of the vehicle at the lower end is not too cheap therefore; it is not affordable by everyone apart from people on middle earnings or above. The starting up prices from £17, 000 to £29, 000, which is costly than their main competitors in the market for example VOLKS WAGEN Golf and Ford Focus. The cost of the lower end of the THE CAR One Series is more expensive compared to the top of the range Ford Focus that is £13, 900. The price elasticity from the car will affect typically the demand and the product sales of it so a price that compliments other marketing mix is more likely to get more of a success.
Product is an item that satisfies the needs and wants of the consumer. BMW vehicles are seen being a concrete product as they are usually highly produced around typically the World. This is viewed as the most important aspect of the marketing blend as the product offers the requirements required by typically the consumers. For example typically the consumer will not like a car that doesn’t function in the day. BMW’s marketing and advertising mangers develop their products that work well within the market segment for example BMW 3 series may be found as a new Coupe, Convertible, Touring plus Compact car. But the BMW Z4 which can just be brought, as a new Roadster work well since they both hit different markets.
Each of BMWs Products needs to go through the Merchandise Life Cycle Process. In order to show where best the product is suited and the based on the result BMW will possess to decide if there is usually a nee to help to make becomes the Product or if they have in order to Re-launch the car once more. For example BMW up 08 only had the BMW X1 X3 X5 since their main 4X4 automobiles for sales but inside the last quarter regarding 2008 BMW choose in order to launch the New THE CAR X6 due to the decline sales in the particular Previous Vehicles in this marketplace. The same happened using the BMW one Series since BMW where not searching for hatchbacks so they launched the main one series in 2004 to take on rivals Fiat and Ford.
Campaign is used by AS BMW HYBRID of a Method regarding communication to provide info to different parties about the Product. Since lates 1970s BMW has used the particular same company for advertising WCRS. The agency because made television adverts with regard to branding campaigns and brand new car launches, Regional publications and Magazines, outdoor promotions and brochures. Over the years AS BMW HYBRID as used numerous coupure to go with their Promotions e. g. “a Luxury car that gives an exhilarating driving experience”, the smart choice in addition to currently BMW is making use of the supreme driving Machine because the main slogan in addition to was used within the marketing of the one Sequence as seen below.
Also a number of the BMW vehicles have featured in a new number of different movies such as ‘James bond 007’ years 1983, 1994, 1997 and 1999 in the making of ‘The Globe is Not Enough’. These people were also used inside Austin Powers 3.
Product placement is the business practice based upon mutuality. Having its automobiles placed in a selection of films, television takes on and documentaries benefits THE CAR in many ways. That reaches a wide area of the public very often on a worldwide scale. With repeats, this could even become an target audience of several millions because BMW vehicles are noticed since luxury good therefore it is important they place their products within the correct areas where prospective customers would buy this specific type of vehicle. Plus other various strategies for example intensive, selective and exclusive distribution can help BMW now and in the particular future as this complements the other aspects associated with the Marketing Mix.