But overall the two main competitors of BMW are Mercedes and Lexus (Carscoop 2011) All these names are of the luxury car manufacturers. The reason that BMW automobiles are different from its competitors’ vehicles is that BMW offers a wide range of vehicles from luxury to sports cars. BMW vehicles are different on the basis of its design. BMW vehicles are designed keeping in mind the biasness towards sports, whereas Mercedes are designed keeping in mind the comfort and luxury attributes. Innovation rate at BMW is high as compared to the competitors. It has several series or categories of vehicles unlike other vehicle brands e.g. z-series, x-series etc. Brand personality of BMW is of a person who is mobile, wants recognition and freedom. The person wants to be considered important by others. He wants the people to look at him. He is a symbol of status. This refers to the recognition trait of the personality. The freedom trait refers to that the person is free and can go beyond the boundaries anywhere it wants. He wants fun and looks for adventure (Freeman.David 2006) Consumers have a deep relationship with the brand of BMW. This relationship is significant because consumers do not buy this brand only because it performs well but also because it adds meaning to their lives (Fournier.Susan 1998) Consumers associate themselves with the BMW vehicles personally. IT can be explained simply by saying that a consumer can buy other automobile brands as well which performs well and is of high quality but they prefer BMW vehicles because it has more meaning attached to it. Consumers get more than just a better performing automobile. People relate to the brands they buy. The consumer relationship with the BMW vehicles will lie under the typology of “Best Friend” and “Kinship” (Fournier.Susan 1998) Some consumers consider BMW vehicles as an important part of their personal and professional lives and many others buy the brand just because some relative have been using it. BMW have a huge customer loyalty. People who drive BMW vehicles hardly switch to other vehicle brands. A reason for this customer loyalty is that BMW is a luxury brand; not everyone can afford it. Anyone who will make this huge investment in the purchase of a BMW vehicle will somehow be loyal to the brand; otherwise he could have made a decision of purchasing some other luxury car brand. Another reason for this customer loyalty is that BMW vehicles give a lifetime value to its customers, though some of its competitors have greater customer loyalty. BMW’s target market include of those people who want to buy luxury cars, who have high incomes. BMW is basically targeting a niche market. It has differentiated its vehicles and targets them to the niche market of people who are status conscious and who can afford to buy luxury items. The target market comprises of the people who are sporty and look for adventure and BMW sports cars are the best means of fulfilling their desire of sports and adventure. The target market of the brand relates quite well to the brand personality. There is a fit between the target market and the brand personality of BMW. BMW is an already established brand which requires less marketing efforts. But still some marketing efforts need to be put in to market the upcoming products and to instate the recall of the current vehicles in the minds of the consumers. BMW has well defined brand personality and the target market, so it can make the best decision about
The Marketing Mix: Product and Branding Strategies (BMW) BMW is brand that people trust and look up to with high esteem. It is a German brand. Automobiles are the greatest product of BMW ever offered by the brand. BMW offers a range of vehicles, so the products are definitely not similar…
Many competitors have entered the marketplace when they saw the first coffee house growing. Quality and high prices are not just the only attributes of the product of Starbucks Coffee. Starbucks coffee is of high quality and it is ensured that there is a consistency of quality and taste throughout the globally operating chain (Bussing-Burks, M.
The significant growth and rise of technology and communication since the decade’s beginning, along with the emergence of highly sophisticated technological devices promoted by various telecommunication companies around the world, has brought a massive change in the mode of functioning of societies and businesses in various corners of the world.
This paper will design domestic and global product branding strategy, pricing strategy, and distribution strategy for the organization in order to make its new product launch successful. Domestic and Global Product Branding Strategy Since light weight bags is a new business concept, the product branding strategy can play a significant role in determining the success of the brand.
Generally product life cycle consists of four common stages, such as introduction, growth, maturity and decline. This part of the essay will discuss about these four stages of product life cycle. Introduction The introduction stage of product life cycle is characterized by the low sales growth rate of products.
Thus a brand constitutes a symbolic embodiment of all the values that a corporate stands for and its represents information connected to a company. The term brand name is often used synonymously with the term brand, but brand name is usually used to denote the written or spoken linguistic elements of a brand.
The baby products include items from baby registry to even travel solutions for babies.
It is evident from the product – target market matrix, that most of the target segments purchase products relevant to their category
nication companies around the world, has brought a massive change in the mode of functioning of societies and businesses in various corners of the world. Talking in a more elaborate manner, it can be said that the high-level communication technologies have helped in the process
Since the beginning of the business operation Mr. Colgate wanted to boost customer health and provide products that could enhance the quality of their lives (Sekar, 2008). For almost two decades, the Colgate-Palmolive persisted with the same
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