This research is being carried out to evaluate and present marketing concepts and customer segmentation at BMW in Munich. 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 a global automotive industry. 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. 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 the similar role: to show the willingness of customers to acquire a product/ service. According to Stokes and Lomax 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’. This means that in the context of marketing the terms customers’ needs, wants and demands have the 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 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. When the desire of a customer is made specific, then the term ‘want’ should be rather used. Asking for ‘a burger of a particular fast food brand is a want’
In the paper, 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…
Role of Leadership in Organizational Change d. Lewin’s and Kotter’s Model 6. Methodology 7. Recommendations a. Incremental Change b. Strategic Change c. Transformational Change 8. Conclusions 9. Questionnaire 10. Bibliography How to Implement Organizational Change?
The company enjoys favourable brand image among the consumers and the brand has been successful at developing a unique heritage (Simms & Trott, 2006). BMW tends to focus upon ‘light weight construction’. It also utilises Carbon Fibre Reinforced Plastics (CFRP) in automobile production (Ploon & Olesen, 2010).
However, the company needs to maintain its market share by adapting to the use of new technologies and features that customers usually look for in luxury cars. Therefore, it has become a need of today for the company to change some key features related to cars’ designing and functions not only to maintain customer loyalty but also to maintain competitive edge over many other automobile brands.
The BMW group currently has three brands in the offering after the acquisition of Mini from Rover group in 1994 and the responsibility of exhibiting Rolls Royce in 2003. The BMW brand is known for giving a 'sheer driving pleasure' with the sporty and innovative design and quality.
BMW faced bankruptcy in 1959. But, they managed to lure in Herbert Quandt as its major shareholder. They reengineered their production and distribution strategies completely. They identified a market for very sophisticated saloon
Marketing, according to the American Marketing Association, can be defined as the activity and process of communicating, creating and delivering the offers that have values for the clients, customers, partners and the public fraternity at large. Marketing is the core aspect of any business and without it, no sale can be made.
BMW recognizes the flexibility of production capacities as a central issue with respect to future uncertainties in demand. Corporate policy illustrates mandatory flexibility reserve which is a buffer difference between
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