Marketing Management: Critical Analysis of BMW's Environmental and Consumer Behavior Strategies for the Launch of the 'Brilliant' Model

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Marketing Management: Critical Analysis of BMW's Environmental and Consumer Behavior Strategies for the Launch of the 'Brilliant' Model - Page 1 preview image

MARKETING MANAGEMENT1MARKETING MANAGEMENTStudent’s NameUniversity AffiliationBased on the provided marketing management report for BMW's new vehicle launch,critically analyze the company's environmental and consumer behavior analysis strategies.How do these analyses contribute to the development of a targeted marketing strategy for thenew model, "Brilliant"? Support your answer with examples from the report and providesuggestions for any areas of improvement.Word count requirement: 1,000-1,200 words

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MARKETING MANAGEMENT2EXECUTIVE SUMMARYThe business environment is very competitive and needs strong decision making skillsin order to survive. One of the key areas in business is marketing management; this has to bedone with a lot of expertise because it is responsible for attracting and retaining customers toa given business.In this paper, different aspects of marketing management have beenhighlighted in line with introduction of a new vehicle by BMW.It is important for themarketing department to understand the environment in which the business is operatingbefore launching a product.Environmental analysis needs to be conducted to determine theviability of a project(Dev, 2005).In this case, environmental analysis was carried outthrough various strategies and it was found that the market is in need of newer models ofvehicles.Since consumers are the ones being targeted, their behavior was also important to belooked at.It was found that BMW was trusted branded and any other introduction by thecompany was likely to be accepted just like the previous ones.This is because the consumerbehavior on different brands of the company was very positive.Segmentation of the marketand the consumers was also done by the marketing department and it was established that themost relevant group of consumers to be targeted is the middle class in the economy. Thisgroup is made of economically stable individuals who may find it necessary to own classyvehicles. The analysis on this targeted market also proved that the individuals have hadexperiences with previous models of BMW and wouldn’t mind if the company introduced anew model.Table of contentsItemPage

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MARKETING MANAGEMENT31.0Introduction ……………………………………………………………..41.1Background information ………………………………………………..42.0Environmental analysis …………………………………………………52.1Identification of environmental factors …………………………………52.2Environmental frameworks ……………………………………………..62.3Selection of relevant factors …………………………………………….62.4Strategic position ………………………………………………………..73.0Consumer analysis ………………………………………………………73.1Information search ………………………………………………………73.2Evaluation of alternatives ……………………………………………….83.3Purchase decision ……………………………………………………….83.4Post-purchase evaluation ……………………………………………….94.0Segmentation …………………………………………………………..95.0Targeting ……………………………………………………………….106.0Positioning ……………………………………………………………..117.0Product and pricing plans……………………………………………….118.0Conclusion ……………………………………………………………...139.0References ………………………………………………………………141.0INTRODUCTION

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Marketing Management: Critical Analysis of BMW's Environmental and Consumer Behavior Strategies for the Launch of the 'Brilliant' Model - Page 5 preview image

MARKETING MANAGEMENT4Marketing management is a very important aspect of every business organizationbecause it determines the chances that the businesshasto be competitive in the industry.It isthe responsibility of the marketing department to ensure that business operations of theorganization are in line with the conditions in the market.Edward, (2005) notes that throughthe marketing department,a business can know of whether or not the market needs newproducts perhaps from the same company. In the case of BMW, it was found that the marketlooked forward to get new models from the company.This was established by conductingresearch on various aspects of the market that includedenvironmental analysis, consumerbehavior, segmentation, targeting and positioning as well as product and pricing plans.For abusiness to know whether or not the market needs new products, a comprehensive analysisneeds to be done.1.1BACKGROUND INFORMATIONBMW has been a successful automobile company since it was started.The companyhas manufactured a variety of models of vehicles and adding a new one would not do anyharm.For business organization to prove that they are really working, they have to prove totheir customers that they are able.One of the ways of keeping a business alive is byintroducing new products.The company; BMW needs to introduce new models of vehiclesfollowing the outcome of the research on different analyses.The market is promising andfrom the report, it there is ready demand for subsequent products of the company.Thecompany is assured that the market is ready to receive its new model; Brilliant. It can onlyreact to this bylaunching the newproduct.2.0ENVIRONMENTAL ANALYSIS

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