2. INTRODUCTION AND SCOPE OF THE PROJECT The topic that has been chosen for the project is related to the car industry i.e. to research the business strategies of BMW. BMW is the leading premium car manufacturer in the world. The report will look at the current business strategy that BMW adopts and also the future strategy of BMW Group. Business strategy has been defined by Johnson, Scholes & Whittington in their book "Exploring Corporate Strategy" as "a strategy that is concerned with how a business competes successfully in a particular market. It concerns strategic decisions about choice of products, meeting needs of customers, gaining advantage over competitors, exploiting or creating new opportunities etc." In this project, the author will research the marketing and pricing strategies of BMW Group. Also the markets BMW target and how BMW group as an automobile industry faced the recession period. The project will also look at the growing competition in the automobile industry and the major competitors for BMW Group. Lady using a tablet Professional Essay Writers Get your grade or your money back using our Essay Writing Service! ESSAY WRITING SERVICE The marketing strategy of BMW Group will include their segmentation, target markets, marketing mix and by using SWOT analysis, the author will describe the advantages and benefits it is delivering to its customers and also its disadvantages. The pricing strategy of BMW will also be described. BMW adopts a differentiated strategy so the author will describe how it affects the prices of BMW cars. The project was chosen by the author because of the growing competition in automobile industry and also the author's like for the innovation and brilliance of the BMW Group in automobile industry. 3. BACKGROUND OF BMW GROUP BMW (Bayerische Motoren Werke) in English (Bavarian Motor Works) Group is the leading car manufacturer and seller in the world. BMW Group is a German company and manufacturers of automobiles and motorcycles. BMW Group is the parent company of BMW MINI and Rolls Royce car brands. BMW was founded by Karl Friedrich Rapp in 1913, under the name of BFW (Bayerische Flugzeug- Werke). But due to difficulties of over expansion, Rapp left and the company was owned by Franz Josef, an Austrian industrialist in 1917. The headquarters of BMW Group is in Munich, Germany, the famous four cylinder building which was developed in December 1971. BMW Group employs more than 1 million employees in more than 40 countries. BMW Group has worldwide subsidiaries and manufacturing plants in Germany, the UK, the USA, Egypt, China, South Africa, Brazil, South Africa etc.(Some information taken from ) 4. CURRENT BUSINESS STRATEGY OF BMW GROUP The business strategy of BMW Group is based on having a powerful brand image. This strategy forms the foundation of the success of the BMW Group. BMW Group believes in maintain core values as technology, innovation, performance, quality, reliability, exclusivity and customer
satisfaction. The company slogans of BMW Group in English i.e. "The Ultimate Driving Machine"
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- Fall '16
- BMW Group, BMW Group Company