BMW: Demographic And Market Segmentation Of BMW
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BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.”
In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce. BMW Company continues to launch innovative products as part of its battle with other German automobile manufacturers such as Audi, Porsche and Mercedes Benz to be the world’s largest car manufacturer. BMW the German based organization is one of the world’s most regarded automakers, prestigious for creating luxury cars and SUVs that offer superior levels of driving pleasure.
Market segmentation
Market segmentation divides the market segments into four segments which is Geographic, Demographic, Psychographic and Behavioural. Market segmentation is a marketing strategy that divides the market segments into smaller segments with regular needs, attributes, or behaviour that might require separate marketing strategies or mixes. This is because buyers differ in their wants, resources, location, buying attitudes, interest and so on. In this situation companies or dealers
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An example of demographic segmentation is being used in the automobile market. This is done on the basis of income from a household. Suzuki has a low-price bracket for their cars whereas BMW have a high price bracket so it targets high end buyers who are willing to spend more money. BMW have segmented a market by differentiating their products. Comparing it to Suzuki, BMW allow customers to design their car such as the seat material, colour, wheels and engine.
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The “Safest Muscle Car” title will be on the line between the Mercedes C63 AMG S and the Dodge Challenger SRT Hellcat. First and foremost, the Germans have been practicing automotive manufacturing a bit longer than most countries. After all, it was Karl Benz who, in 1879, first patented the internal combustion engine and then in 1886 received a patent for his first automobile. What it takes for a car to be considered “safe” is how well it manages in a collision and how much stress it takes off of a collision if it were to happen. Karl Benz started the company in 1883 and started with a three-wheeled car in 1885.
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General Motors (GM) is an American multinational company, with its headquarters in Detroit. GM deals in designing, manufacturing, marketing and the distribution of vehicles and vehicle parts. William Durant founded the company in 1908. By 1930, GM was the largest automobile manufacturer in the world, until the 2017, when Silicon Valley’s Tesla surpassed them (Reuters, 2017). Some of the brands that are under General Motors include Buick, Cadillac, Chevrolet, GMC, and Holden.
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The human society was renovating and advancing every time in every places. The life nowadays was built by those ancestors who had created miracles. However, an innovation needed time for attempting, fund for achieving. At the beginning of the last century, the Great War was influential, which brought death, injure, poverty and starvation. Even the period after the war, those post-war countries in Europe experience a struggled time.
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For example, in order to build this car, BMW company has joined together with Aluminium Stewardship Initiative or known as ASI since 2012. ASI is the company that produce aluminium and supply it to BMW’s company in making the cars. Most well known company nowadays use this material in making their cars because of its characteristic which was lighter and easy to shape it than the steel. For interior of the cars, BMW’s company choose high quality materials to gives the passenger and the driver comfortable feelings and also an enjoyment along their trip. For sure all of this come with high prices that the company must face on.
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4.Describe the major trends and forces that are changing the automobile marketing landscape and how Tesla is taking advantage and/or trendsetting in the automobile industry. Safety Becomes More Important: Safety plays a major role in the automobile industry with vehicle manufacturers constantly making improvements to avoid and lessen damage from collision. Automobile industry is also trying to improve braking systems, stability and lighting. They are also concentrating on environmental safety.
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a. The product and production orientation of marketing asserted that a company should first develop product and then they should scan the market for sale opportunities. Now days in the modern world the market have changes. The process orientation of marketing requires a company to first to analyse the market, understand customer requirement and then develop products. In todays world, the modern marketing is based on the reverse process, in which the first the customer needs and demands are identified. The subsequent market program of the firm depends on how the market identifies the potential customer, profiles them, target them and positions his offering in the minds of customer.
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Market are segmented in order to make it easier for businesses to target these segments according to the features and habits they exhibit. These segments must be definable, specific, profitable, and is has room to grow. The following outlines the segmentation for the market of Mercedes Benz broken down into demographic, behavioral and psychographic segmentation. Demographic Segmentation: Markets can be segmented by geography where the business would market its offering towards individuals living in a certain area.
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Rolls-Royce PLC, a world driving supplier of energy frameworks and administrations for use ashore, ocean and noticeable all around, works in four worldwide markets – common aviation , guard aviation, marine and vitality. Rolls-Royce Motor(1973-1998) Rolls-Royce Motors was made from the de-merger of the auto business from Rolls-Royce Limited in 1973.In 1998 the creation offices at Crewe in addition to the Bentley name was sold to Volkswagen, while BMW procured ,for the proceeded with improvement and generation of Rolls-Royce
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The automobile industry includes a huge number of manufacturers, companies involve in the process of research & development, designing, producing, testing, marketing, and trading of automobile. Globally, there were about 1015 million vehicles in 2016. The automobile plays an important role in transportation department for many countries around the world. This industry is one of biggest economic sectors in term of revenue.
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According to TrackMaven, market segmentation is the process of dividing the market of potential customers into groups, or segments, based on different features. The created segment consists of consumers who will respond to the same marketing strategy and who share the nature of the same interests, needs, or locations. McDonald uses demographic segmentation as their main types of market segmentation. According to Sakshi Natani (2016), McDonald in Malaysia used mainly demographic segmentation, which divided in age, income, family-life cycle and social class.
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As it turns out, Volkswagen may not be the only carmaker that sold diesel-powered cars which exceeded allowed emissions levels. A report from Transport & Environment drops the bomb, claiming more carmakers sell vehicles which exceed the European limit for air pollution. During the past three years, Transport & Environment (T&E), with the support of the International Council on Clean Transportation (ICCT – the organization that alerted US authorities to its concerns over VW), has exposed several ways carmakers manipulate emissions tests in Europe for both air pollution and CO2 emissions. Automakers are said to charge the car’s battery before a test, deduct 4 percent from each test result and use incorrect laboratory settings for the inertia
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Name: Jasmit Singh ID: J13013948 Section: DB 4 Lecturer: Ms Lingkeswari Table of contents Content Page Introduction 3 Market segmentation 4-5 Product strategy 6-7 Pricing strategy 8 Place strategy 9 Promotion strategy 10 Conclusion 11 Reference 12 Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is
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2.2 Industry Analysis - Porter’s 5 Forces Analysis Threat of Substitutes Bicycles and services from unknown manufacturers can provide huge substitution threats. Just as alarming for bicycle manufacturers is the internet: it is developing as an excellent medium for cheap marketing services. The price that consumer are willing to pay for a product is depends the quantity and the availability of substitute products. When a close substitute for a product is exist, industry profitability is suppressed because consumer will pick out if the price are high. Example consumer will compare the price of other bicycles with this bicycle in terms of quality and appearance, a customer can easily get another bicycle which is less difference but in more cheaper
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1. MARKAT SEGMENTATION Market segmentation is a strategy that is generally used by a company to identify and define the target customers, and provide the supporting data for the marketing plan elements. There are five types of market segmentation which are demographic segmentation, geographic segmentation, psychographic segmentation, benefits segmentation and volume segmentation. • Demographic Segmentation Demographic segmentation is market segmentation according to age, family size, religion, race, gender, income and education. By using this segmentation, a company can categorize the needs of consumers more easily and target its consumers more accurately because demographics can segmented into several markets.
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