Unit IV: Case StudyPankajkumar ThakorColumbia Southern University1
Unit IV: Case StudyIntroductionThe BMW company was founded in 1916 as an aircraft-engine manufacturer and produced engines during World Wars I and II. It changed into a motorcycle and automobile maker by the mid-20th century, and today it is an internationally respected company. BMW is the ultimate driving machine which Manufactured by the German company Bayerische Motoren Werke AG, BMW stands for both performance and luxury.The BMW brand worth is roughly $38.9 billion which means it is one of the world’s largest automobile company (Forbes, 2020). The company has endured many renovation periods with the advancement of their products to meet consumers’ needs, wants and trends. This case study will take a look in to the ways of how BMW has advanced with primary focus on consumers as well as deliver analysis of the external environment and internal resources that impact the expansion and growth of the company.Part 1:Examine and apply the consumer-buying process for BMWAccording to Kotler and Keller (2016), the decision-making method for making a purchase is described on below. This method is comprised of five stages of needs. Those stages include problem recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior. BMW recognized this and identified the target consumer, then they developed a plan to market each model they anticipated creating.2
Unit IV: Case StudyPhysiological: For the movement to a definite destination, individuals require a way to do so. At this level, individuals need an inexpensive vehicle.Safety needs: Individuals need to be safe when traveling by automobile. This needrequires a vehicle with midline value.Social: BMW manufactured vehicles that meet numerous needs of consumers such as SUVs, sedans, coupes and convertibles. The target consumers for BMW are the ones with families and business subjects.Esteem: Once the needs of price and quality are met, BMW then achieved perfection with the design and performance of its products, enter the sports car, the coupe. These cars convey an image of accomplishment and status, focusing onthe business consumer. BMW carries a status that make the owners of their vehicles proud to own them. Consequently, the cost of the BMW sports car will be higher.Self-actualization: BMW strives to appeal to the more successful and established consumers. These consumers are the ones considered to be upper class. BMW identifies this group of consumers desires the ability to express themselves. BMWproduces vehicles with designs of luxury and expense, integrated technology and high performance.A.Information Search:A consumer can evaluate products by way of many information sources and with reference to Kotler and Keller (2016), below are the list of sources.