Ch. 4 - The Marketing Environment

To ensure the sales of their products BMW not only had to make their products attractive but also encourage their market that BMW is the only way to go if you urge to ride in luxury, being that these products are considered “high end “it would only make sense to say their market would be people with disposable incomes, but it is not that simple. More specifically BMW target market is to the person(s) who truly value high standards and quality in their vehicles and are somewhere around the $75,000 salary which is typically a person over the age of 25. Sounds a little broad right? But it doesn’t stop there, BMW has a range of cars from 3-7 which individually meets all consumer needs on different levels. For example if you want your car to be small, fast but still maintain top of the line features then anything in the 3series collection would fit your liking. If you’re on the taller side or just want a spacious car that is just as fast if not faster than a 3series then one of the 7serires collection is for you. Maybe you’re a family person and really need something spacious for people and stuff but still capable of 0-60 in under 10 seconds then the x5 or x6 series will satisfy your needs, the list goes on. It’s evident that no matter how tall, short, heavy set, skinny, jeep lover or coupe fanatic there is a car for you. On a different note, BMW has to keep up with their brand so keeping up with times of today’s technology may be difficult do to the rapid changes in technology. So if their product doesn’t have what the newest computer has or more then that can affect the sales. However, BMW put a new technology of on window shield navigation, self-parking, wireless charging and hand signal commands to not only be updated with the hottest technology but to differentiate themselves from competitors.  

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Ch. 18- Social Media and Marketing

                 In this day in age social media is a part of your everyday life, if you don’t have at least one type of social media such as Facebook, Twitter or Instagram you are completely living under a rock and most likely doesn’t have a clue of what is going on in today’s society. Social media has become such a popularity in everyday lifestyle that for most people it is mandatory to either post or check news feed online every day, In fact as of today Facebook alone has over 1 billion users and Instagram has over 100 Million users itself. So in other words if you wanted to have a successful impact on your customer’s life or the market you would make a social media page and that is exactly what BMW has done. They made a Facebook page where millions of people can view everything they post such as new products with their release dates and intriguing videos of the capabilities each product. They even randomly post prototypes and ideas to determine whether or not to launch or cancel the item based on the feed they receive from customers and potential customers. BMW is exposing and enhancing their product to max with social media by averaging tens and sometimes hundreds of thousands in likes and comments each post, which gives them a chance to listen and understand their customers’ true opinion which is extremely important; BMW even launched a program called “My BMW’ which is the process of building your dream car by letting customers choose their own combination of BMW products. Evidently it looks like BMW and their customers have created a relationship through the power of social media.

Chapter 2 - Strategic Planning for Competitive Advantage

            Being that BMW is one of the top luxury car producers, they always have to not only stay on top of the market but they have to stay ahead of the market to keep their customers on their toes eagerly asking “What’s Next?” So far they have done so by putting top of the line technology, powerful engines and aerodynamic body styles on their vehicles. All the things above are nice and luxurious, however in this day and age most consumers are converting their lives and their everyday purchases to environment friendly products only; and with upcoming competitors it might seem as if BMW cars were going to become “obsolete”. Absolutely not BMW had a strategic plan to make market development by introducing the new i3

Series which is a carbon fiber/aluminum structure (extremely light compared to competitors) and 100% electric