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International marketing: Bayerische Motoren Werke (BMW) - Essay Example

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Topic: INTERNATIONAL MARKETING 7th December 2012 Word count: 2612 Introduction Stiff competition that has engulfed business atmosphere at the local and international level, has forced many companies to emulate wide range of marketing strategies with an aim of putting at bay their competitors…
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International marketing: Bayerische Motoren Werke (BMW)
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Download file to see previous pages In this regard, majority of global companies have taken initiative to produce quality brands that meet the needs of their customers. A major factor that has enhanced the performance of international companies is the advanced technology especially in the marketing communication. For example, companies dealing with competitive products have now engaged social sites such as face book and twitter in their promotion and advertising strategies. This paper analyses the marketing strategies that BMW, one of the top 100 global brands in the international market has adopted thus attaining a competitive edge. Product Bayerische Motoren Werke (BMW) is a Germany-based firm that is well known for the production of luxury automobiles thus making it to attract large number of customers both in Germany and in other parts of the world. Having been established in 1910s, BMW has embarked on the production of wide range of brands that are competitive in the market. Some of the major models that the company has produced in the market include BMW C1, BMW 1series, BMW 3 series, BMW 5 series, BMW 6 series, and BMW 7 series, BMW X 3, BMWX 5, BMW X 6 and the BMW Z4, BMW M5, BMW M6, and BMW Z4. In this way, the company has effectively met the needs of its customers. One of the key elements of the marketing mix in any company is product. This is based on the fact that it is through a product that a firm meets the requirements of its consumers. For example, a car that has a problem in starting or when it accelerates will not be favoured by customers. To ensure that BMW occupies a significant position in the minds of its consumers, the marketing managers have developed quality brands that are easily recognised in the market. Presently, BMW has the following brands: BMW 3 Series that includes Sedan, Compact, Coupe and Touring. BMW 5 Series including Touring and sedan. BMW 6 series such as Convertible and Coupe.BMW X5, BMW Z4, BMW X3 among others. In its efforts to market the products, BMW adopt the aspect of life cycle. This is done by ensuring that the company brands do not reach maturity at the same time. For example, once a product reaches it maturity, the company produces another model with more features thus ensuring that its customers are retained. In its effort to remain competitive, BMW has embarked on expanding its product portfolio. This includes also re-designing and re-launching of the main models. Price Price is another aspect of marketing mix that companies cannot overlook. Despite the quality of the products, consumers are more attracted to low prices without compromising the quality of the brands. The prices of BMW brands range between ?16,000 and ?60,000. Some of the key factors that affect the prices of the company models include the version as well as the engine size. Based on the competition-oriented pricing that is adopted by BMW, the prices of most of its series almost is similar to those offered by competitors such as Alpha Romeo, VW among others. As a result, customers consider the high quality and the new features that are offered by the BMW brands. Place Based on the fact that companies are focused at making their products accessible to all customers, it is essential to ensure that effective mode of distribution is put in place. Being a company that has a wide market segment, BMW employs experienced ...Download file to see next pagesRead More
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