...Start of the Bmw A Strategic Review Marketing Essay...
The car industry has grown up as a very dynamic industry in the past few decades. Although the primary purpose of this industry has been to satisfy the consumer’s need to travel from one place to another with comfort, the continuously changing market, has slowly altered consumer’s needs into desires which have cleared the way for intense competition in the automobile industry. Bayerische Motoren Werke Group (BMW) is one of the world’s leading luxury carmakers. Founded and based in the Germany. BMW group employed over 100,000 people, in 2009, making and distributing a series of successful, premium-priced passenger cars and motorcycles*34. In addition to its manufacturing operations, BMW also provides financial services to support its worldwide sales and distribution of cars and motorcycles. But in this report, we will be only focusing on the cars, which accounted for about three quarters of BMW group’s sales. BMW was initially established to build aero engines during the First World War.
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This will help them to produce more at lower cost. So, financially, it was feasible for them to open this. It is also evident from figure#3 that BMW was placed at the fourth position with respect to profit margins. It also took over the first place from Lexus in the luxury car market in United States in terms of sales. Overall, BMW took all measures to fulfill its strategy and it was having all the required capabilities to take these actions. .. Suitability is concerned with the expected performance outcomes of a strategy and the extent to which these meet the expectations of stakeholders in terms of returns and risks. In other words it’s about asking that would it work. BMW strategy was to become low cost-producer in the premium car sector. BMW was able to achieve this by taking different steps.
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BMW group has got the firm commitment to be a global player, which is aided by its regular attempts to further differentiate its product line, because of which it had been able to reach to different markets and thus different customers, as it products provide value for money (Brand Image). But our main concern is about BMW’s strategy of mass production along with its premium brand. BMW has to be very careful about it because it has already seen the problem with the acquisition of the Rover. Apart from this BMW’s competitive advantages will keep enabling them in the luxury market. In the near future, BMW remains on the top of the game in this sector. Although BMW has set a plan to produce 5.5 million units till 2012 (MarketWatch, 2008), but it will have to review its strategy continuously and while doing this it has to be very careful because of the economic changes. It has also to be careful from the intense rivalry of Mercedes, Lexus and other luxury brands. Because the competition in this segment of automobile industry is very high and one smaller mistake, which may be either in strategy development or in product development, can have some long term affects.
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This could give BMW a competitive advantage in the electric car market.Mercedes has already lost the luxury market lead to BMW in the early part of this year, and could continue to lose share, owing to the new model launches in the pipeline for BMW.BMW has its product range from a MINI to a Rolls Royce.In this analysis, I’m going analyze BMW and its competitors using Porter’s Five Forces Model and other marketing tools and determine if BMW has a competitive advantage in the market.After analyzing the luxury brand automotive market, I have concluded that BMW has a slight competitive advantage over the competition.
* Having an Internet Presence: With the increase in customer research online, BMW must constantly update and maintain a strong web presence through its social media outlets, its regional websites, and its unique internet features, such as “Build your own BMW”.BMW has an advantage in these markets as developing countries enjoy the experience of driving a manual car, creating a high involvement driving experience that BMW idolizes.In addition to a strong online presence, BMW engages in a large amount of product placement.BMW should market to the increasing number of affluent Chinese who would benefit from the status of driving a BMW.The Dixi 3/15 PS made in 1928 became the first BMW made car in the world with just 15 horsepower, and after ...
BMW car are now represent the status of a person, so they should have a very good marketing plans, strategies and new concept to compete with their strong competitor and continue to improving and make them better.“The mission statement up to the year 2020 is clearly defined: the BMW Group is the world’s leading provider of premium products and premium services for individual mobility.” (BMW education program, 2001-2010) .. BMW is a world top’s luxury car maker so they have their own financial core value which is ULTIMATE CARE to build up and maintain the customer relationship bye offering all-sided financial and insurance service.It is clear that BMW is spread over a period of time a life cycle of his 3 products.BMW have a high competit...
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