Semester 3 Industry Collaboration Project ICP This module accounts for the final 60 credits of your degree and gives you the opportunity to examine an issue that is important to an organisation. The Industry Collaboration Project offers four different options:
The family life cycle that the brands market themselves to differs, depending on the particular model of the car. BMW markets itself to the upper middle, as well as both the lower and upper upper class.
Mercedes-Benz markets itself mostly to the upper class. People usually buy cars on special, as opposed to regular, occasions. One example of how Mercedes tried to do this was when it developed the CLS model. The CLS was close enough in price to the BMW Ci so as to appeal to the same group of consumers, so in this way, Mercedes-Benz was directly challenging one of their major competitors.
When tested by drivers, some concluded that the Ci was a better drive, but the CLS was more comfortable. Price Mercedes-Benz does not place much emphasis on keeping prices down. Indeed consumers expect both Mercedes-Benz and BMW, being in the luxury automobile market, to be priced higher than the average car.
Therefore, Mercedes has to Bmw marketing strategy essays more on how its prices compare with its competitors rather than on how high its prices are in absolute terms. This means that they do not focus their efforts on keeping prices down; instead they want to sell exactly the right number of well-produced cars so as to attain a targeted profit.
This is because the consumer who can afford to buy the car in the first place will most likely not be deterred from making the purchase simply because the price went up by a few thousand dollars.
However, since BMW markets itself to the upper-middle class, which is more price conscious than the upper class that Mercedes-Benz focuses on, it has higher price elasticity. People in the upper-middle class might change their minds about the purchase of a car if the price went up by a few thousand dollars.
Promotion BMW promotes itself using a highly selective strategy. It has chosen certain segments in the automobile market, and it does not involve itself in the mass market, otherwise known as the volume segments of the automobile market. It wants to attract and keep as many customers as it can.
It promotes itself as innovating products rather than simply designing new versions of the same old product. For people who wish to live out their individuality.
It is therefore in the best interests of both brands to foster a strong presence online. Female buyers may feel nervous or even scared when going to look far a new car, especially if they are alone and do not have much knowledge or any confidence in their knowledge about cars, and with this nervousness they probably will be approached by an aggressive salesman, who may feel has got an easy target to sell a car to that they may not necessarily want or need, the salesman would just be trying to get a sale and get their commission.
Female buyers may feel a lot more comfortable when approached by a female sales representative at the dealership. BMW and Mercedes-Benz may want to look into employing more female sales representatives, especially in areas where they feel or know there are numerous prospective female buyers of their products.
After sales customer service is a major area in which a customer will buy or re-buy their products. If for whatever reason, the customer, is not completely satisfied with the service they have received or they feel or have heard by word of mouth that they can get better service from another company, they may buy from that company, even if they feel the car is not as good as one from BMW or Mercedes-Benz.
In this vote there were a total of a hundred and forty two different cars included written in about or voted for.Marketing strategies of BMW and Mercedes-Benz - Sample Essay These people have high incomes, and have usually completed higher education.
The family life cycle that the brands market themselves to differs, depending on the particular model of the car. BMW is a German manufacturer of automobiles, motorcycles, engines and bicycles.
The BMW Group includes such brands as BMW, Mini and Rolls-Royce Motor Cars (BMW Group Official Website, ).
BMW marketing strategy BMW has been able to live on to its brand's promise due to three major factors: consistency, patience and a simple, upbeat message. It has been beating the drum for the last many years that BMW offers customers the ultimate driving machine.
Home Essays Bmw Marketing Strategy. Bmw Marketing Strategy Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage.1 Popular Essays.
- Marketing Strategies Marketing strategy is the plan of an organization to market its product. A good marketing strategy enables the organization to get the best marketing results and help it sustain its marketing advantage by using limited amount of resource.
The marketing strategy of BMW Group will include their segmentation, target markets, marketing mix and by using SWOT analysis, the author will describe the advantages and benefits it is delivering to its customers and also its disadvantages.