Unit II_Advanced Marketing - BMW 2.docx - Running head MHRV...

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Running head: MHRV 6451-14O-4V20-S2 , Advanced Marketing 1 Advanced Marketing Columbia Southern University Unit II Assigment BMW Case Study
MHRV 6451-14O-4V20-S2, Advanced Marketing Unit II Effective segmentation strategy helps BMW win in the market BMW segmentation can be viewed as the foundation for the success of the marketing effort, helping the company in wining significant share in the luxury car market. In 2017, BMW ranked second in the world’s luxury car manufacturer, after Mercedes with 2.09 million cars sold. This is because they are able to effectively target different customer segments at the same time. But more important is the depth of their understanding of STP (Segmentation - Targeting - Positioning). The process is conducted as follow: Market segmentation, or segmentation , is the first step in this process, so simply understand that the company is grouping consumers in the market based on similarities in needs, desires or some criteria. about personality, demographics, etc. After this step, the marketers will probably see more clearly the differences between demand groups and where the company should deploy. Or rather, segmentation is where the company begin to create the value the customers need because it now knows what type of customers will need.[ CITATION GAR \l 1033 ] Targeting: The days of mass marketing are over, but now brands are focusing more on their target audience. If the market has a customer groups, there will be certain needs to meet but such a perfect product does not exist. How well a specific product the company creates will only cover one or a few market segments. So, the company will need to choose which segment will be the target market. This is the selection of the target market.[ CITATION GAR \l 1033 ] Product positioning here is about giving, communicating about products, inculcating in consumers' minds about unique, distinct and outstanding values compared to competitors and differences in each segment. different. The company can even offer customized versions for each target segment, if possible. Unlike most companies in the market, BMW recognizes a very simple truth that many people confuse that segments are not a group of people but a set of characteristics that describe a group of people. BMW is well known for its famous 3-car series BMW 3 series, BMW 5 series and BMW 7 series. And with each car model, the target customer naturally will also be different then.
MHRV 6451-14O-4V20-S2, Advanced Marketing Unit II With the BMW 3 series, the segment is aimed at people in their 30s and 40s, a young specialist working at a private company. Despite not having achieved many great achievements, there are still many ambitions. This line has a reasonable price but has a sports car design, a sleek appearance while the interior is more focused on the proper function of the classic German model.

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