The core customer value for BMW luxury cars are prestige and hi-tech performance in their endeavors. Having full understanding of the specific needs of their target group, BMW has largely considered the psychographic factors of its customers.
As it has been revealed, BMW targets active individuals who have achieved success at their early age, desiring prestigious and super-performing luxury cars like themselves. Notably, the customers of BMW are technology oriented and very active in their life-time, as they pursue success in their ventures. In this regard, the brand seeks to establish strong relationship with its customers by providing them with the driving experience they desire in their life-time.
As it has been revealed, the luxury cars having the BMW brand name are in three series including MBW 3, MBW 5 and MBW 7. These three series of the MBW brand are the ultimate core aspects for maintenance of customer loyalty to the BMW luxury cars.
More specifically, the MBW 3 series provides its users with extra-ordinary performance as it is made to facilitate self actualization among the customer target base. Precisely, BMW 3 series seeks to establish trust and loyalty with its customers by offering splendid personalized experiences with the product. After the users of BMW 3 advance into more experience with BMW luxury cars, they move further to acquire BMW 5, which is more expensive, but maintaining the outstanding performance of BMW luxury cars
. On the other hand, BMW 7 series is meant for the already established customer base for BMW luxury cars as it propels higher the user-oriented experience with the BMW products through its advanced features to facilitate prestige and higher performance than 3 series. It is important to note that, 7 series is much more expensive that 3 series since it is mainly meant for company’s loyal customers who have had prior experience with the former series.
Following the currently competitive global markets, the development of products to achieve competitive advantage forms a real of success among brands marketers. Since the customers’ needs of BMW products are based outstanding performance, more innovations of the existing products need to be done to come up with more superior luxury cars capable of competing with potential competitors like Mercedes Benz among others.
More so, powerful advertisements based on psychographic factors of the customers’ needs to be made. For instance, creation of short films showing the uniqueness of BMW products on the context of other competitors may be quite appealing. Since visual advertisements are more accurate and highly effective, the films will be able to attract target customers’ attention largely. As a result, success and efficiency in marketing BMW products will be realized.
Further, a variety of channels in marketing the BMW luxury cars would be more appropriate to reach wider customers base. Since the target customers for BMW are always busy and very active, the use of precise and direct advertisements over the internet would be quite effective so that the customers don’t waste time interpreting information of the advertisement.
It can also be recommended that, the product promotion uses the internet to collect information about the needs of their customers with respect to the specific aspects of the luxury cars which need to be improved. By having enough data about the accurate needs of the target customers, it would be easier for the company to modify the cars to intersect with the specific needs of the customers.