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Marketing - Essay Example

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The paper "Marketing" describes Bayerische Motoren Werke AG (BMW) is considered one of the leading manufacturers of premium cars and motorcycles. In addition to car production, the company also operates in the insurance, financing, and leasing of automobiles…
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Download file to see previous pages... As discussed earlier BMW is known for its luxury cars and primarily targets the premium market segment to generate its revenues. In order to successfully develop an effective marketing strategy, satisfying the needs and requirements of the targeted consumers should be given the topmost priority by any organization. Hence, the first step towards developing an effective marketing strategy of BMW would be to analyze the consumer behavior patterns followed by the company's potential target population. The key issues that are having a significant impact on the global automotive industry are the increasing rate of urbanization, environmental issues and the changing nature of consumer behavior. The two-tier concept of the industry is changing at a rapid pace. The mature automotive markets in US and UK are expected to converge with the emerging markets like that of China and India in terms of the needs and wants of the consumers regarding safety, reliability, and quality. Moreover, the automotive market segments comprising of low-cost and premium prices vehicles are also expected to converge. This type of changing consumer behavior and market trends indicate that the available opportunities for the automobile manufacturers would increase in relation to the increasing demand for mobility services and electric vehicles. As regards the targeted customers of BMW, they look for high standards of performance, luxury and quality in the products. There is an increasing demand for hybrid electric vehicles in the market as well. ...Download file to see next pagesRead More
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