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Marketing Management - Coursework Example

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Marketing Management

The marketing policies of BMW in Munich have been examined in order to identify the key causes for the firm’s long term success. It is revealed that the firm has managed to secure its competitiveness primarily by keeping its customers loyal. At the next level, the use of appropriately customized techniques of customer segmentation has helped the organization to keep its customers loyal, a rather difficult target if taking into consideration the level of competition in global automotive industry. Table of contents Executive summary 2 Introduction 4 Question 1 - Marketing concepts at BMW in Munich 4 1.1 Types of Needs, Wants and Demands 4 1.2 Product, Sales and Marketing orientation 5 1.3 The Relationship Marketing Ladder 6 Question 2 – Customer segmentation at BMW in Munich 8 2.1 Marketing Mix 8 2.2 Positioning 9 2.3 Target Marketing 10 2.4 Customer Segmentation 12 Conclusion 13 References 14 Introduction Keeping organizational sales high is considered as a key priority for marketers worldwide. However, often, the responses of the public to the marketing techniques used by organizations are not the expected ones. Usually, the reason is the fact that these techniques are not aligned with the customers’ needs. ...
It is proved that existing marketing strategies of BMW are similar to those used by most firms in the automotive industry; still, BMW has managed to create a unique brand image which, combined with marketing techniques for securing customer loyalty, has offered to the organization a significant advantage towards its competitors. Question 1 - Marketing concepts at BMW in Munich 1.1 Types of Needs, Wants and Demands Meeting the customers’ needs is a key role of marketing. These needs are also described through the terms wants and demands. These three terms have similar role: to show the willingness of customers to acquire a product/ service. According to Stokes and Lomax (2008) the role of the three terms can be made clear through the following explanation: ‘in case that sufficient people want a product/ service then marketing has to match this demand with the supply of a product that meets this need’ (Stokes and Lomax 2008, p.66). This means that in the context of marketing the terms customers’ needs, wants and demands have similar meaning; simply, each one of them reflects a different aspect of customers’ desire to acquire a product/ service. On the other hand, Doyle and Stern (2006) make the following distinguish in regard to the above terms: a need is something that it is absolutely necessary for covering basic human needs; food is such need (Doyle and Stern 2006, p.32). When the desire of a customer is made specific, then the term ‘want’ should be rather used (Doyle and Stern 2006, p.32). Asking for ‘a burger of a particular fast food brand is a want’ (Doyle and Stern 2006, p.32). In case that a customer can afford to buy a product/ service that meets the characteristics of a ‘want’, then’ this ‘want’ ...Show more

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Marketing Management - BMW Executive Summary The use of a high range of marketing techniques can ensure the success of firms that operate in extremely competitive markets. Still, these techniques need to be appropriately aligned with the rest strategies of the organization…
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