Unit IV BMW Case Study.docx - Running head BMW BMW Name...

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Running head: BMW BMW Name University
SUN COAST 2 Introduction Bayerische Motoren Werke AG, more commonly known as BMW, is a German automobile manufacturer originally an aircraft engine manufacturer founded in 1916 that evolved into a motorcycle and automobile builder in 1928 after purchasing Fahrzeugfabrik Eisenach [CITATION B20 \l 1033 ]. Today, BMW is an internationally distinguished brand and automobile company with $228 billion in sales in 2019[ CITATION Mer202 \l 1033 ]. BMW saw rapid growth in the '80s and '90s, once they successfully marketed to growing professional yuppies and baby boomers who wanted cars that showed their success. BMW provided sporty looking sedans with unprecedented performance and a brand that stood for achievement and prestige. The car came in three different sizes with the 3, 5, or 7 Series, which had the same design but were three different sizes and prices. Allowing BMW to target baby boomers from the middle-class to the elite[ CITATION Kot16 \l 1033 ]. BMW had to change its strategy at the turn of the century; research showed consumers wanted more variety on style choices, size, design, and price. This change allowed BMW to take steps in growing its product line through targeted marketing segmentation. Thus, resulting in a more extensive selection of vehicles for different segments of consumer-buyers. They evolved from their original 3, 5, and 7 Series, which were all redesigned, to having a comprehensive range of vehicles to include the 1, 6, X, M Series, Z4 Roadster, Hybrids, and BMWi [ CITATION Kot16 \l 1033 ]. Consumer-Buying Process When it comes to consumer-buying decision-making, five stages were established by John Dewey in 1910. Stage 1: Have a problem or need.
SUN COAST 3 Stage 2: Information search, which used to incorporate, asking a friend, colleague, or looking at the newspaper – now consists of those same things along with research it on the internet. Stage 3: Evaluating the alternatives. Stage 4: Purchasing decision. Stage 5: Post-purchase evaluation. Stage 1: Problem or Need This stage is where consumers are trying to figure out what they need to solve a problem. In this need stage, BMW has an opportunity to influence how people determine what they need. They can do this through field marketing, although a more prominent way would be by SEO (Search Engine Optimization) and paid search. BMW must focus their marketing on providing a solution to consumer’s needs [ CITATION Meh18 \l 1033 ]. Stage 2: Information Search This stage is where consumers are aware of their need or problem and need to solve it. Consumers start getting serious about finding a solution through internet searches. Not sure of their options yet, they begin gathering data on how to meet their need. Thus, presenting a perfect opportunity for BMW to market itself as the solution to that need. They can do this by ensuring they are competitive with other vehicle manufacturers and ensuring they are discoverable on search engine optimized content and establishing a social media presence[ CITATION Meh18 \l 1033 ].

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