Marketing Plan for BMW
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MARKETING PLAN BMW
1.1 TABLE OF CONTENTS
1.2 Executive Summary
...........................................................................................................................................
3
1.3 Introduction and Background
.............................................................................................................................
4
2.0 Macro Environment Analysis
.............................................................................................................................
5
Pest analysis
........................................................................................................................................................
5
2.1 Politics, rules, and Regulations
.....................................................................................................................
5
2.2 Economy
........................................................................................................................................................
5
2.3 Society and culture
........................................................................................................................................
6
2.4 Technology
....................................................................................................................................................
6
3.0 Competition Analysis
.........................................................................................................................................
7
3.1 Introduction and Background of the primary competitor
..............................................................................
7
3.2 Primary competitor
........................................................................................................................................
7
3.3 Summary Table
.............................................................................................................................................
7
3.4 Secondary competition
..................................................................................................................................
8
4.0 Target market analysis & Segmentation
............................................................................................................
9
4.1 Target Market Analysis and segmentation
....................................................................................................
9
4.2 Strengths and weaknesses of current target market
.......................................................................................
9
4.2 Target market recommendations
...................................................................................................................
9
5.0 Company SWOT Analysis
...............................................................................................................................
10
5.1 Strengths of the Company
...........................................................................................................................
10
5.2 Weaknesses of the company
........................................................................................................................
10
5.3 Opportunities of the Company
....................................................................................................................
10
5.4 Threats of the company
...............................................................................................................................
10
6.0 Marketing Mix Strategies
.................................................................................................................................
11
6.1 Product Strategy
..........................................................................................................................................
11
6.1.1
...................................................................................................................................................................
11
6.1.2
...................................................................................................................................................................
11
6.2 Price Strategy
..............................................................................................................................................
11
6.1.1
...................................................................................................................................................................
11
6.1.2
...................................................................................................................................................................
11
6.3 Promotion Strategy
......................................................................................................................................
11
6.1.1
...................................................................................................................................................................
11
6.1.2
...................................................................................................................................................................
11
6.4Place Strategy
...............................................................................................................................................
12
6.1.2
...................................................................................................................................................................
12
6.1.2
...................................................................................................................................................................
12
7.0 Conclusion
........................................................................................................................................................
13
1
8.0 References
........................................................................................................................................................
14
1.2 EXECUTIVE SUMMARY
This marketing plan is focused on BMW, a global leader in the luxury car industry. The plan provides an in-
depth analysis of the company's position in the market, its strengths and weaknesses, and the external factors that could affect its performance.
The PEST analysis identifies the macro-environmental factors that are affecting the automotive industry, including political, economic, socio-cultural, and technological factors. The analysis helps BMW to understand the external environment and how it can capitalize on opportunities and mitigate potential threats.
The primary competitor analysis compares BMW with Mercedes-Benz, while the secondary competitor analysis
focuses on Audi. The analysis identifies the strengths and weaknesses of each company and helps BMW understand the areas where it needs to improve to maintain its competitive advantage.
The target market analysis provides insights into the consumers BMW is currently targeting and recommendations for new segments the company can target to expand its customer base. The SWOT analysis identifies BMW's internal strengths and weaknesses, as well as external opportunities and threats.
Finally, the marketing mix strategies provide recommendations for BMW to improve its product, price, promotion, and place strategies. The plan recommends BMW should focus on product differentiation, introduce eco-friendly vehicles, and invest in online channels to promote its products.
Overall, this marketing plan provides a comprehensive analysis of BMW's position in the market and identifies areas for improvement. By following the recommendations provided in this plan, BMW can maintain its competitive advantage and continue to grow in the luxury car industry.
2
1.3 INTRODUCTION AND BACKGROUND
BMW (Bayerische Motoren Werke) is a German multinational corporation that specializes in manufacturing luxury vehicles and motorcycles. It was founded in 1916 and has its headquarters in Munich, Germany. BMW is
one of the leading automotive companies in the world, known for its high-performance cars, sleek designs, and innovative technology.
BMW has a reputation for excellence in the automotive industry, with a strong focus on quality, safety, and sustainability. The company operates in over 150 countries and has a workforce of over 120,000 employees. BMW also has a strong commitment to social responsibility, supporting various charitable organizations and environmental initiatives.
The BMW brand is well-known for its signature kidney-shaped grilles, powerful engines, and advanced technologies. Over the years, the company has introduced several iconic models, including the BMW 3 Series, 5
Series, and 7 Series sedans, the X5 and X7 SUVs, and the Z4 and M4 sports cars.
BMW's success is due in part to its dedication to innovation and investment in research and development. The company is constantly working to improve its vehicles, with a focus on sustainability and reducing emissions. BMW has also been at the forefront of developing electric and hybrid vehicles, such as the i3 and i8.
(Group, n.d.)
3
2.0 MACRO ENVIRONMENT ANALYSIS
PEST ANALYSIS
Factor
Opportunity/Threat
Political
Opportunity: Free trade agreements
Threat: Tariffs and trade disputes
Economic
Opportunity: Growing luxury car market
Threat: Economic recessions and downturns
Sociocultural
Opportunity: Shifting consumer preferences towards luxury and sustainability
Threat: Aging population and changing attitudes towards car ownership
Technological
Opportunity: Advancements in electric and autonomous vehicle technology
Threat: Increased competition from tech companies entering the automotive market
(Group, n.d.)
2.1 POLITICS, RULES AND REGULATIONS
Threat
: Increasing regulations on emissions and fuel economy standards in many countries, including the EU and the US. As governments around the world focus on reducing greenhouse gas emissions and air pollution, they are imposing stricter regulations on automakers. This can increase BMW's costs to develop and produce more fuel-efficient and electric vehicles, and failure to comply with these regulations can result in fines and reputational damage.
Opportunity
: Support from governments for electric and hybrid vehicle adoption. Many governments are offering incentives and subsidies to encourage consumers to purchase electric and hybrid vehicles. This provides
an opportunity for BMW to increase sales of its electric and hybrid models, such as the i3 and i8. Additionally, governments are investing in charging infrastructure and promoting the use of renewable energy sources to power these vehicles.
(group, n.d.) (Group, n.d.)
2.2 ECONOMY
Threat
: Economic downturns and recessions can lead to decreased consumer spending and demand for luxury vehicles. In a weak economy, consumers may be more likely to prioritize essential expenses over discretionary purchases, such as luxury cars. This can result in decreased sales for BMW and reduced revenue.
Opportunity
: Growing luxury car market in emerging economies. As the middle class grows in emerging markets, such as China and India, there is an increasing demand for luxury goods, including high-end vehicles. BMW has already established a strong presence in these markets, and continued growth in the luxury car segment provides an opportunity for BMW to increase sales and revenue.
(Group, n.d.) (Luxury Car Market Size, Share & Trends Analysis Report By Vehicle Type, By Propulsion Type (Internal Combustion Engine, Electric), By Region, And Segment Forecasts, 2023 - 2030, 2017-2021)
4
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- complete with definition . …………...help with monitoring, controlling, decision-making, and administrative activities.arrow_forwardChapter 12 Discussion: Expanding Your Market 1111 unread replies.2222 replies. The Situation: This has to be one of the most depressing annual review meetings you’ve ever sat through. Sure, times have been tough before, but never like this. In the past year, your power-tools company has lost 37 percent market share. Sales have decreased by 64 percent. Profit is down almost 70 percent. You had to lay off one-third of your workforce. And worst of all, it doesn’t look to be getting better anytime soon. Housing sales and construction are at an all-time low, meaning your best customers, contractors, have little work to do and even less money to spend on new tools. “We have to increase sales!” you tell the rest of your management staff. They stare back at you, of course, because everyone knows what needs to be done. They just don’t know how to do it. How do you sell a product when demand is so low? As everyone in the room ponders over this, an intern sitting in the back corner…arrow_forwardChapter 12 Discussion: Expanding Your Market 1111 unread replies.2222 replies. The Situation: This has to be one of the most depressing annual review meetings you’ve ever sat through. Sure, times have been tough before, but never like this. In the past year, your power-tools company has lost 37 percent market share. Sales have decreased by 64 percent. Profit is down almost 70 percent. You had to lay off one-third of your workforce. And worst of all, it doesn’t look to be getting better anytime soon. Housing sales and construction are at an all-time low, meaning your best customers, contractors, have little work to do and even less money to spend on new tools. “We have to increase sales!” you tell the rest of your management staff. They stare back at you, of course, because everyone knows what needs to be done. They just don’t know how to do it. How do you sell a product when demand is so low? As everyone in the room ponders over this, an intern sitting in the back corner…arrow_forward
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- quizzes/313788/take Home Home Netfliix OUPriceCollege ta.com Contr... M HBO Max * Streaming Service S... mcn 2 Question 3 In an employee-employer relationship, according to Friedman, the employee is bound to do what the employer says, O no matter what the employer wants the employee to do O so long as everyone is following the norms of their society O up to the point where doing what the employer says violates a third party's rights O so long as doing so is consistent with the telos of business firms, and so contributes to overall human flourishing Question 4 According to the Stone's view, managers do actually promise their employers that they will act to maximiarrow_forwardEditing A A B IU A . Ev E E EE A V 11 ... Question 3 Milani is an international skin care company behind the leading brands Jergens, Palmers, Eucerin, and Neutrogena. Over the past five (5) years the company has grown rapidly in the United States by developing a balanced and well managed portfolio of brands. The Milani range includes product types ranging from female face and body products to men's shaving gels, through to deodorants and sun care products. Segmentation has been vital to the success of Milani and allowed the brand portfolio to grow to over forty (40) products, all meeting clear consumer needs. A. Explain THREE (3) requirements that Milani would need to keep in mind when deciding to effectively segment the market B. Discuss TWO (2) market segmentation bases that Milani would need for segmenting their consumer markets. C. Tracks and Records, a popular local restaurant, has decided to expand their operations internationally in the United States and Canada. Examine ONE (1)…arrow_forwardEnumerate the dancing styles that were developed in hip hop dancing. 1. 2. 3. 4. 5.arrow_forward
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