Over
the years BMW has branded themselves as a luxury car manufacturer that targets
people typically in their late twenty’s or early thirties, as time went on
other luxury car manufactures developed and for BMW to stay relevant they had
to position themselves in a fashion that not only kept their existing audience
interest but drew new members to their target market. BMW successfully
positioned themselves by adding more variety to their collection without losing
their overall brand but at the same time having a major influence on potential
customers. BMW is the number one premium car manufacturer in the world and
their mission statement is “ setting standards for the future today” which is
essentially saying all their products have the best technology which is true,
but not all tech savvy people live the same life style. So BMW took their
marketing segments one step further and designed segments based on the
lifestyle of the consumer, in three general groups they have diminutive and
fast,
Spacious and relaxed, eco- friendly and non- car lovers
The
marketing segment diminutive and fast is an interesting approach because the
collection is the beginners step entering the social class of BMW and is
usually marketed to the younger section of BMW’s target market such as the
early and mid 20s. Vehicles in this collection are mainly from the 3series and
even some 4series models, which are the least expensive of BMW products and
have the reputation of sport like features, which most young men and women look
for. Being that most people in that age bracket and even some young adults are
constantly on their phone BMW decided to market this collection through
commercials on various phone apps such as music or movies which grabs the
attention of the market BMW is trying to capture and training the up and coming
audience to choose BMW.
Now the
spacious and relaxed collection is targeted towards the more experience BMW
lovers who not only are more knowledgeable about BMW products but is capable
and willing to purchase the products, because the price has gone up. The
vehicles in this segment varies from 5, 6, 7 and even some X series models. The
lifestyle for these vehicles are typically for people in their late 20s and
early 30s who annual income starts around 70,000 a year, But also likes to
travel via car or just likes the extra space to be cozy.
Finally
the eco-friendly and non car lovers is a smart approach because BMW has
influenced a whole new market with the all electric BMW i3, in this day in age
everything and everyone is about going green and saving the environment so this
all electric car was one of the smartest ideas BMW has created to continue
their dominance in the car industry, also BMW started to manufacture motorcycles
which drew more intention to their brand because not all upper class people are
into cars, some like motorcycles, boats and things of that nature. Even though
these segments have a vague target because the audience can vary from all types
of ages and lifestyles, BMW’s message behind this segment is they have
something for everyone so become apart of their social class.
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