Product introduction
The chosen product is BMW, one of the most famous and successful car brands on the modern market. The company actively uses a variety of marketing strategies, considering the market and demographic analysis. It makes BMW’s sales ratings even higher, along with the quality of the goods and the productive capacity of the organization. In addition, despite the fact that BMW is similar in terms of popularity and quality to companies such as Audi and Mercedes, the company has its own characteristics. BMW has its own target audience that appreciates these particular products. It is due to the unique niche models and special technologies introduced into the lineup.
The selected country is China, which makes up the majority of the BMW car market. Thus, there has been an increase in sales of this brand in the Chinese market, despite the competition between Mercedes and Audi. Moreover, the average income of the population of China also contributes to the popularity of this brand. There is an automobile manufacturer in China whose main task is to manufacture, distribute and sell BMW vehicles in the Chinese market. In addition, they are also engaged in the production of batteries for electric vehicles of this brand. Besides, the plant is one of the most environmentally friendly due to joint efforts with the Chinese government.
Marketing Campaign Analysis
Sensory marketing is a popular marketing strategy for many companies, the main task of which is to engage the audience’s senses. This strategy is applied in this product, namely during the exhibitions of new brands, when a person has the opportunity to touch and feel inside the salon. Stimulus-response is also a BMW marketing tool: namely, engine sounds in commercials. This provokes the release of adrenaline in people who have already been driving this brand and heard a similar sound. Thus, virtually through sounds and images, the company can operate with the senses of an audience. Consumer involvement is one of BMW’s effective strategies, considering the status of these cars. Thus, people with high incomes are likely to purchase BMW vehicles, which is one of the incentives to buy.
The multiple selves theory is also used by BMW’s marketing strategies. This theory concerns individuals’ inner selves, desires, and conflicts within people. For example, there are individuals who buy these cars despite financial difficulties. This is the result of an internal conflict: from a rational point of view, buying a car is not profitable, but the other “I” wins. The company’s personality brand formulates the feelings and emotions that a person experiences when interacting with the brand. In this case, many people associate BMW cars with speed, success, and comfort, which formulates the brand’s personality. In the context of sales and business, this is a successful personality brand as it promotes positive associations.
Fishbein Model
Fishbine’s model is effective in terms of determining the quality of sales of products as well as the formation of attitudes. The main components are the attitude to the object, the power of opinion, the evaluation of indicators, and the number of significant indicators. In this regard, BMW has a successful Fishbine model, which in some cases can be more successful than its competitors. Manufacturers were able to prove to customers that a) their cars are fast, b) safe, c) comfortable. In today’s world, this is the basic requirement in the automotive market, from which the following Fishbine model is obtained. The attitude towards the object is positive, the power of opinion is sufficient, the assessment of indicators is high, and the number of significant indicators is adequate. Compared to three competitors, such as Mercedes, Audi, and Lexus, some of their indicators are lower, for example, Mercedes is often associated with expensive repairs.
Assuming that this model represents actual consumer perceptions, one can highlight some recommendations. First, it is necessary to take into account the disadvantages of competitors and prevent their manifestation. For example, an expensive Mercedes repair, this opinion was formed due to inflated prices for components. Accordingly, it is necessary to monitor the pricing policy of service centers. Another example is the association of a bad climate system in Lexuses: it often breaks down. In this guard, it is necessary to check all vehicle systems more often. Thereby, Fishbine’s model can be perfected, which will formulate even greater success
Brand Community
Brand communities are an essential and useful aspect of any product. This promotes the development, makes additional advertising for the product, and also increases the number of fans since the person subconsciously wants to be part of the group. BMW has a strong brand community around the world, which includes forums, conventions, clubs, online meetings, etc. All this promotes BMW products, as well as replenishes the fan base. In addition, the management of the company, taking into account the claims, wishes, or advice of the community, can improve the products. If I had to advise on how to improve the BMW brand community, I would highlight the recommendation for various events. Namely, the company could organize more official events, which would have a positive impact on the fan base.
Other reference groups of clients are those that the customer wants to be like or compare himself to. It can be parents, sisters, brothers, relatives, friends, colleagues, etc. Thus, a chain of buyers is formulated: for example, a friend bought a new brand of BMW, and one’s relative wanted the same one. Or, an acquaintance told other friends about the purchase, which formulates an advertising chain for the product. In addition, this is also part of the stimulating effect and status of the car: namely, the association with success.
Demographics
The target consumer of any product has similar characteristics: income, social class, family structure, etc. In this regard, the potential client is of medium to high income, of moderate to high social status, and usually with a family. This is articulated by a wide range of family vehicles such as jeeps. In addition, age may fluctuate due to the fact that many young successful people acquire this brand, but at the same time, it is popular with middle-aged and mature people.
Conclusions
To conclude, it is worth noting about BMW’s standardized or localized marketing strategy in China. In my opinion, a localized marketing strategy has been undertaken in this country, which formulates an individual approach to the market. This is formulated by the specific needs of the Chinese automotive market. Firstly, there are environmental requirements, which means an emphasis on environmentally friendly cars, that is, electric cars or hybrids. In addition, there is a demand for the economic consumption of gasoline, which constitutes the development of cost-effective technologies in BMW cars.
Reference
Boeriu, H. (2019). BMW launches the marketing campaign for the new 1 Series.BMW Blog.