If the customer is willing to buy a motorbike buy hasn’t got a licence then a BMW representative is organising all training for him. Segmentation, Targeting and Positioning for BMW will further describe the marketing strategy of BMW. In my report I am aiming to show the BMW market, especially concentrating about market segmentation and targeting. Bmw segmentation and targeting Share with Gmail; Share with Facebook; Share with Twitter; Share with LinkedIn; Share with Pinterest; Star Vote: 4.00 (80%) 3 vote[s] Rosie Phan. (2005, October 17). Segmentation for BMW: BMW Group has a strategy of targeting their customers by using segmentation. [ MKT1004 , 9th November], Your email address will not be published. Indeed, the BMW brand is often cited as one of the ‘best’ in the world, and the company continues to launch a stream of innovative products as part of its battle with German peer Mercedes to be the world’s largest luxury car maker.” [ (Jones & Clements, 2007/8) ]. Each of these types of vehicles is at different price, quality, look and abilities. It is one of the most commonly applied marketing models in practice. Segmenting and Targeting Markets BMW uses three steps for targeting which are market segmentation, target choice and product positioning. Mini Case Study: BMW 2. Market segmentation Market segmentation divides the market segments into four segments which is Geographic, Demographic, Psychographic and Behavioural. BMW uses three steps for targeting which are market segmentation, target choice and product positioning. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Spouses of rich men and youths also fall under their target … About the Company: • Bayerische Motoren Werke (BMW) is a German luxury vehicles, motor cycle and engine manufacturing company. 54.1% of those who own a 3 Series are in either of these age groups. There are many statistical techniques for … In 2001, BMW found itself with a market share that had hit a plateau in a market that was cluttered with many international players. Looks like you’ve clipped this slide to already. INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH VOLUME 7, ISSUE 9, SEPTEMBER 2018 ISSN 2277-8616 69 IJSTR©2018 www.ijstr.org market should be the response to the product and marketing programs are developed, (2) the potential sale must be broad enough to be supported by purchasing power and the … While exploring the BMW website I can easily find and chose a car which I would like to buy. In these days the company already has large plan for expansion. The BMW 3 Series clearly targets two age groups aggressively. • Internationally respected company with … Psychographic segmentation BMW Psychographic segmentation divides buyers into different groups based on social class, personality and attitudes. Central to the model is the audience and not the product. 3. Also the BMW Group is cooperating with the BMW Rider Training Company. Geographically BMW has more market in north America and Europe where economy is more developed and industrialized. What can benefit your company more is marketing to individual segments of the marketplace and develop product/services that would suit those segments. Segmentation As stated at the beginning of this article, it is a massive mistake if you try to market to every consumer on Earth. BMW will be examined giving information about the company and where it is now and any recommendations that we feel are appropriate. This specialist equipment is also expensive, only helmet costs £600 and clothing about £1000. BMW can combine the different segmentation strategies for more specific targeting as explained in the next section. (2007/8). The aim of all of that is to encourage people to meet their friends there, to talk about shared hobby and relax. Big Idea: Personalization can deliver five to eight times the Return on Investment (ROI) on marketing spend and lift sales 10 percent or more If you continue browsing the site, you agree to the use of cookies on this website. 8 - Segmenting and Targeting Markets Audi has a specific standard when it comes to building cars and the company makes sure that each and every vehicle is the same when it comes out of the factory, but different steering placement maybe required across different parts of the world, but overall the mechanics are the same. 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. Buyers can differ in one or many ways, such as: wants, resources, locations, buying attitudes and buying prices. White. [ (Wong, 2011) ]. BMW, as well as, any other business entity has to divide population into different categories according to a set of certain criteria and develop products and services that are particularly attractive to this specific group. Business Book 1 2nd ed. One of the most important aspects of this is the process of customer segmentation (Malcolm & Dunbar, 2004). The marketing mix is made up of seven parts (the 7Ps), namely: product, price, promotion, place, people, process and physical evidence. BMW is one of the best Luxury car Brand available throughout the globe. The company is trying to create friendly big family where everyone knows each other and shares each other opinions, also in this way their brand loyalty is increasing. Recently they have introduced S 1000 RP BMW’s first superbike, producing an exceptional 193 horsepower and yet tipping the scales at just 183 kg (dry weight). Wong, S. (2011, 02 15). 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