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Furthermore, the essay will also argue as to why consumers will prefer buying BMW over other luxury cars. BMW’s innovations and performances in the segment of luxury car have acquired the repute of ‘the Ultimate Driving Machine’ from its numerous loyal customers. Automobiles are subjected to make regular and proper maintenance in order to ensure long life of the vehicle. However, maintenance costs of the vehicle are not for free and generally appear with a considerable price. Annually, it may cost approximately US $500 in maintenance for most of the luxury cars in the initial stages. However, at the later stages, a consumer may require to incur huge expenses due to massive changes in the machinery parts of the vehicle (BMW of North America, LLC, “Owners”). In relation to the operational performances, it has been viewed that BMW offers free maintenance of its vehicles to its customers for a period of four years. In fact, more than US $2,000 can be saved relating to the maintenance costs in contrast with other luxury cars. Furthermore, the company provides much assistance to its customers by offering roadside support without any additional costs for the initial 4 years.
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Research shows that £21.1 billion UK automobile market is in constant conflict with France and Italy (Done, 57). This makes it the second biggest European country in the automobile market after Germany. The African continent also has a number of states that are rated among this trading in luxury cars, led by South Africa.
Continuous release of new models places them comfortably in meeting the competitive forces in the market. The proposed research seeks to study the brand equity, consumer behavior and the factors involved in consumers’ decision making, symbolic consumption and hedonic needs in relation to the products of BMW in formulation or restructuring of their marketing strategies by strengthening marketing communications.
Each vehicle offers different features and each vehicle type is differentiated on the basis of its features. BMW have several competitors in the market but the main dilemma is that for every range of vehicles offered by BMW, there is a different competitor in every series.
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.
That is, only if an organization is able to grasp the above mentioned aspects of customers particularly consumer behaviour and their buying process, they can come up marketing or enticing strategies accordingly. Consumer behaviour covers a lot of ground, as it is “study of the processes involved when individuals or groups select, purchase, use products, services, ideas or experiences to satisfy needs and desires.” (Solomon and Bamossy 2005).
The third vehicle group is the Rolls Royce, to which is valued as an "Uncompromising concentration on quality is a matter of course. The Rolls-Royce fascinates through unique solutions to detail. These brand images create the high quality and exquisite standards BMW consumer's can take pride in purchasing and owning.
Human resource initiatives therefore become vital requirements for human resource professionals. I strongly believe that as HR professional, versatility and flexibility must define recruitment criteria apart from academic qualification and experience. I need to be
In this context, consumers consume products not only for their intrinsic value but also as status symbols that are supposed to confer perceived and notional benefits like increased social recognition and to move up the social
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
5 Pages(1250 words)Essay
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