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Running head: BMW MARKETING REVIEW1BMW Marketing Review Michael AzzarelloColumbia Southern University25 October 2020
BMW MARKETING REVIEW2Part 1: 1.Examine and apply the consumer-buying process for BMW. Identify the steps and the application to BMW.The consumer decision-making process encompasses five stages: problem recognition, information phase, alternative reviews, purchase, and finally, after-purchase behavior. The product’s need is established in the problem recognition stage and the features required to address it all together. Second, the information phase involves data gathering to help the customer in their buying decision, including information on alternative options, pros,and cons. The third stage is the evaluation of the alternative options and subsequent comparisons with the target product. The purchasing decision is the fourth stage that is intricately determined by two factors-peer attitudes towards the brand of choice and contextual factors. Finally, the last step of the consumer decision-making process is post-purchase behavior. It includes the satisfaction or otherwise from the purchased product. Applying the decision-making process to the BMW consumer buying process, the five stages can be broken down as follows; Problem Recognition- People, particularly young intellectuals, realize the need for a comfortable and luxurious machine to denote their success and hard work.Information gathering: Customers review information available on the product and its alternatives using friends, commercial and public media platforms, or direct product testing. According to BMW 2012 report, it uses all the venues for the advertisement of their products.Notably, over 80% of its loyal customers can recommend the brand besides allowing test drives in their distribution center (BMW, 2012)
BMW MARKETING REVIEW3Evaluation of alternatives. Compared to other options in terms of fuel economy, experience, costs, and performance design have pushed BMW to respond with cheaper yet superior performance to address changing consumer behavior. The 1 and 3 BMW series was introduced with low cost to attract those afraid of the premium expenses BMW is accustomed to besides introducing a wide range of products, including convertibles and SUVs. Purchasing decision. If customers settle for BMW as the best alternative, then a prospective sale is in the offing. However, factors like constrained finances might make the future customer change mind. Although such circumstances are out of BMW's control, it can be resolved and addressed since BMW has partnered with institutions (BMW UK, n.d)Post-purchase stage: BMW’s salespersons are well placed to inform the customer of the car’sfeatures and subsequent safety measures to ensure a remarkable experience, thus facilitating satisfaction.