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1MKT4001PRINCIPLES OF MARKETING
Table of ContentsIntroduction................................................................................................................................2Section1 – Marketing Environment and PlanningProcess.......................................................2a) componentsof the marketing planningprocess in termsof EVmarketing........................2b.EnvironmentalauditutilisingPESTELanalysisformarketofEVs..................................3c.Therole of extended marketing mixinplanning ofEVs marketing..................................5Section2 –Segmentation,Targeting &Positioning..................................................................6a)distinctionsbetweensegmentationof the B2BandB2Cmarkets......................................6b)TargetingB2C.....................................................................................................................6c)positioning..........................................................................................................................8Section3-Marketing mixanalysis..............................................................................................8Marketingmix.........................................................................................................................8Conclusion................................................................................................................................10References................................................................................................................................11
IntroductionNowadays the development of EVs (electric vehicles) has been seen rapidly across the globe.Since EVs have been the main development for automobile companies to reduce the carbonfootprint that may be ideal for the future market. In this respect, the company named BMWwho’s headquartered in Munich, Germany focuses on producing 12 new or fresh electric cars inthe market recently. In order to promote EVs, BMW tends to apply the concept and principlesof marketing by considering the marketing environment and market strategies. In this respect,this scenario represents how the company can use various tools like PESTLE analysis, STP(segmentation targeting and positioning), 7Ps marketing mix that can be applied to themarketing of EVs.Section 1 – Marketing Environment and Planning Processa) components of the marketing planning process in terms of EV marketingThe marketing planning process is really important to market EVs. This is because manyautomobile companies might have failed to grab the revenue of the market. However,governments have been investing in research and development and also invests billions ofdollars to develop charging infrastructure. In this respect, in order to promote EVs, BMW hasconsidered some components of the marketing planning. This involves analysis, goals, strategy,implementation and review that are the main components. Analysis tends to explain the presentsituation in that the company or its product are functioning. For example, BMW tends toanalyse the automotive manufacturing market across the globe especially the market of electricvehicles. Another component is a goal that refers to the targets that must be fulfilled to obtain astrategic edge. For instance, BMW is targeting 7 million battery electric vehicles and plug-inhybrid electric vehicle stock by 2030 (Saurenergy, 2021). In order to hit the target, the EV shareof the BMW group would need to raise from 2% to 60% that remains the main focus of thecompany. Another element is a strategy that tends to explain how to meet defined objectivesalong with obtaining a competitive edge. In terms of strategy, BMW tends to focus on loweringthe costs of batteries and secure raw material availability of batteries through directing sourcingfrom mines in order to increase sales of EVs (Saurenergy, 2021). The next element includes themarketing planning process that involves the implementation of the strategy. In this respect, theBMW group pays attention to decrease supply chain carbon dioxide emissions per vehicle by20% from 2019 levels by 2030. There

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Term
Winter
Professor
N/A
Tags
Marketing, BMW Group

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