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 ].
When it comes to consumer-buying decision-making, five stages were established by
John Dewey in 1910.
Stage 1: Have a problem or need.