Research Proposal

Research Proposal on BMW Marketing

By

BMW MARKETING/ BRANDING

Background

As the world has transformed into global village, the markets of different economies of world have also transformed itself. Today, the players from different industries are aggressively pursuing the marketing strategies into order to explore new markets. It would be safe to state that today the markets are rendered as Global Markets. The case of BMW is thus no exception, as it is formulating strategies in order to meet the needs of the different markets of the world by keeping its values intact. The trend of global markets on one hand tends to be curse for some and blessing for others. Therefore, in order to form successful marketing strategies, the role of the managers are of significance.

The review of the literature strengthened the perception that BMW has been successful enough in order to cater to the global market by marketing itself in a way which tends to be acceptable to the local market. BMW operates under the umbrella of geo-centric approach, and thus has been successful enough to identify the proper market segments and target audience. BMW in its marketing strategy tends to keep a tight check on maintaining a balance between purchasing behaviour of the identified consumers and buying power of the consumers. So that an effective and efficient marketing mix can be formulated in order to maximize the sales in that region and among the identified segment (John & Frank 2005, p. 293).

BMW despite of having a German origin have been successful enough to cater to the different values. For example BWM has shown an excellent performance in the Korean and English Market. It is very essential to understand how local market behaves, in order to attract them towards the product. The success of the BMW marketing strategy lies primarily in identifying the segments. BMW primarily focuses on the market which tends to acquire value of the product, have a luxurious lifestyle. In order to attract the premium for the product, this marketing strategy has shown results irrespective of the country and culture. The marketing strategy of the BMW also rests on the vision of leading through innovation. Recently, as the need for green and environment friendly cars have surfaced many companies are pursing it in order to expand their market.

Critical Review of Literature

BMW tends to lead the path, by not only coming up with the green and environment friendly cars but by incorporating the corporate needs within their marketing and business strategy. As, Helmut Panke, former BMW chairman stated that “it is about believing and thinking in one direction in order to set the bar for yourself”. It also leads us to the concept that since BMW primarily focuses on the premium pricing, therefore, they only focus on it. This is the key to BMW's marketing strategy. The rationale behind having a focused segment is to be specialist in doing so. BMW does not inculcate minivans in its line up rather it targets only a specific market which ...