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BMW. Product or Experience - Essay Example

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BMW. Product or Experience

For instance, the case study illustrated that American consumers want everything quickly, including customized vehicle options, therefore U.S. customers seem to be buying a product more than an experience. In Europe, consumers are willing to wait for delivery to ensure they are getting top quality vehicles and there seems to have been a very positive response to the customization program at BMW. European customers, therefore, appear to be patient wanting a total holistic experience that comes along with the brand reputation of makers such as BMW. There is a great deal of marketing being undertaken, especially in promotion, by many different automakers that provide very similar vehicles with similar characteristics. American automakers provide mid-sized cars at affordable prices, but must rely on lifestyle marketing (psychographics) in order to get consumers to see differentiation between cars with very similar benefits and features. In this case, the automakers themselves are attempting to sell an experience, however the buyer is likely looking for a reliable and affordable vehicle, making them more focused on the product and pricing instead. Again, it seems to be a matter of the country of origin where the consumer is located that determines exactly what the customer is looking for when seeking out new automobiles. Those that are affected by automaker promotions illustrating actors with similar lifestyle qualities, such as Subaru with their recent family-centric marketing, would probably consider buying a Subaru to be a total brand experience. A consumer with moderate financial resources that is looking for only an affordable vehicle that will be dependable would be seeking out just a product purchase that is aligned with their current resource availability. It really seems to depend on the type of consumer, their cultural capital such as values and beliefs, which determines whether it is a product or an experience they are seeking. Under the assumption that most cars share similar characteristics, it is highly dependent on the consumer profile that will determine what, specifically, the buyer is looking for when considering different auto brands. THE DRIVERS OF CAR-BUYING DECISION-MAKING There are many factors that influence the decision to purchase an automobile. Marketing theory informs that many customers look toward reference groups when making certain product-buying decisions. Reference groups are important figures in a person’s life, such as a trusted family member or even celebrities, as a means of justifying their identity. Some consumers are so concerned about the opinion of others in their social environment that many of their decisions are based on the word-of-mouth or general sentiment of reference groups. A person in the working class, as one example, might witness one of their neighbors with moderate income levels driving a very expensive car and getting a great deal of attention for the flash of their purchase decision. Wanting to experience the same social attention, the individual might decide that their current vehicle is not satisfactory and begin exploring higher-priced alternatives. There are many consumers that make purchasing decisions based on their social environment and this seems to have a great deal to do with why consumers seek a new vehicle. Even the case study supports this notion, illustrating how BMW found success through product placement in a James Bond movie when the car was shown with a futuristic-looking cellular phone. The film industry now becomes a reference group for consumers which is why advertisers seek product placement to gain a psychological connection with buyers and motivate a desire to make a purchase. The automakers, also, make it difficult for an individual to be satisfied with their ...Show more

Summary

BMW Case Analysis

PRODUCT OR EXPERIENCE?
It seems to depend on whether the customer is from the United States or other countries that determines whether it is a product or experience they are purchasing. …
Author : jermainbogan
BMW. Product or Experience essay example
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