BMW Integrated Online Marketing Communication BMW marketers have incorporated the internet into their promotional tools to build and maintain brand awareness, and to attract and retain its customers. In addition to market drivers, another external factor that one must also take into account is the nature of the competition in the marketplace so as to determine whether or not a marketing effort will be successful.
It has also been nominated manufacturer of the year for the year and the outlook seems positive for Businesscar, Smashing your brand requires.
Despite all this, as mentioned in the SWOT analysis the company is still suffering form high risk of the currency exchange rate and from high barriers to entry in certain market such as Brazil. The design is also a fundamental and integrant part of the competitive advantage of BMW, despite the critics to the ex chief of design Chris Bangle Wired, To outrun its competition, BMW has incorporated the internet to its overall marketing strategies.
Online advertisement channels enable BMW to display interactive advertisements such as pop-ups, banners, skyscrapers, shoshkeles and interstitials through selected third-party sites and mobile applications which can deliver the ads to relevant audiences.
Additionally, the company uses the platforms for satisfied customers to easily recommend their products to others and also as a medium to conduct customer-product conversations and brand blogging. Social Networks BMW e-marketing strategy incorporates social networks such as Facebook, Twitter and Youtube due to the potential of reaching a great number of people at relatively low cost.
The provision of low cost products or services; Differentiation of products from those of the competition; and Focus on the market niche.
BMW uses the internet to build its brand and product awareness, offer various buying options for customers, overcome location barriers at minimum costs through online stores, interact Figure 1: With such a great number of fans compared to its competitors, BMW is able to deliver its advertisements to a large number of people at an instant and easily draw them to its websites at a relatively low cost.
For example, advances in computer technology have been accompanied by advances in data storage methods; although cassette tapes for data backup were innovative in their time, that time has passed. For example, when buying a computer, one may choose between a Mac and a PC.
To improve the return on investment that an organization receives from its marketing efforts, it needs to develop a marketing strategy. Key issues - Could the increase in the fuel price represent a problem for BMW? Seems clear that the target market for this particular kind of product would be probably found in the first phase of the Bell curves where can be found the innovators, and early adopters, which represent together the 16 per cent of the whole market.
The government is strongly discouraging the importation of goods but at the same time give the same protection given to the Brazilian ones for those who decide to set up plants locally Financial Times, ; this could be a really profitable opportunity for BMW in order to expand in such rich market and gain a strong competitive advantage on the competitors.
Mark McPherson Word Count: The company is able to deliver its magazines and e-newsletters to its consumers at once and at relatively low cost compared to printing and physical delivery costs see table 2. In order to mitigate this possibility the company should differentiate the two segments; maintaining the scent of luxury brand for the premium products and at the same time crate a new label to brand the products designed to the lower market segment.
At the same time it is important fort the company to not lower the perception of the main brand. BMW has gone a step ahead and established itself as a brand associated with luxury, quality and precision engineering, all packed into a power packed vehicle full of performance.
Demographic and cultural changes are usually the ones, which affect the social factors in the analysis.Marketing Strategy Homework Help Questions.
What objectives should a marketing plan Your marketing plan should include both strategic objectives and more immediate implementation strategies.
4. Marketing objectives The key factor of BMW’s success could be attributed to a consistent and effective marketing strategy; As a matter of fact the company has always focused on a ‘market niche’ trying to convey in the most effective way possible its four core values: technology, quality, performance and exclusivity (Franzen, ).
BMW Group Report contains more detailed discussion of BMW marketing communications mix and marketing strategy. The report also illustrates the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis and McKinsey 7S Model on BMW Group.
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BMW Research. Introduction. How does the consumer impact a marketing plan created by the brand? Consumer behavior influences the type of marketing plan that is .Download