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

A solved assignment analyzing BMW's marketing and environmental strategies for the launch of its new model, providing insights into consumer behavior.

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    MARKETING MANAGEMENT 1 MARKETING MANAGEMENT Student’s Name University Affiliation Based 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 the new model, "Brilliant"? Support your answer with examples from the report and provide suggestions for any areas of improvement. Word count requirement: 1,000 - 1,200 words

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    MARKETING MANAGEMENT 2 EXECUTIVE SUMMARY The business environment is very competitive and needs strong decision making skills in order to survive. One of the key areas in business is marketing management; this has to be done with a lot of expertise because it is responsible for attracting and retaining customers to a given business. In this paper, different aspects of marketing management have been highlighted in line with introduction of a new vehicle by BMW. It is important for the marketing department to understand the environment in which the business is operating before launching a product. Environmental analysis needs to be conducted to determine the viability of a project (Dev, 2005) . In this case, environmental analysis was carried out through various strategies and it was found that the market is in need of newer models of vehicles. Since consumers are the ones being targeted, their behavior was also important to be looked at. It was found that BMW was trusted branded and any other introduction by the company was likely to be accepted just like the previous ones. This is because the consumer behavior on different brands of the company was very positive. Segmentation of the market and the consumers was also done by the marketing department and it was established that the most relevant group of consumers to be targeted is the middle class in the economy. This group is made of economically stable individuals who may find it necessary to own classy vehicles. The analysis on this targeted market also proved that the individuals have had experiences with previous models of BMW and wouldn’t mind if the company introduced a new model. Table of contents Item Page

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    MARKETING MANAGEMENT 3 1.0 Introduction …………………………………………………………….. 4 1.1 Background information ……………………………………………….. 4 2.0 Environmental analysis ………………………………………………… 5 2.1 Identification of environmental factors ………………………………… 5 2.2 Environmental frameworks …………………………………………….. 6 2.3 Selection of relevant factors ……………………………………………. 6 2.4 Strategic position ……………………………………………………….. 7 3.0 Consumer analysis ……………………………………………………… 7 3.1 Information search ……………………………………………………… 7 3.2 Evaluation of alternatives ………………………………………………. 8 3.3 Purchase decision ………………………………………………………. 8 3.4 Post - purchase evaluation ………………………………………………. 9 4.0 Segmentation ………………………………………………………….. 9 5.0 Targeting ………………………………………………………………. 10 6.0 Positioning …………………………………………………………….. 11 7.0 Product and pricing plans………………………………………………. 11 8.0 Conclusion ……………………………………………………………... 13 9.0 References ……………………………………………………………… 14 1.0 INTRODUCTION

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    MARKETING MANAGEMENT 4 Marketing management is a very important aspect of every business organization because it determines the chances that the business has to be competitive in the industry. It is the responsibility of the marketing department to ensure that business operations of the organization are in line with the conditions in the market. Edward, (2005) notes that t hrough the marketing department, a business can know of whether or not the market needs new products perhaps from the same company. In the case of BMW, it was found that the market looked forward to get new models from the company. This was established by conducting research on various aspects of the market that included environmental analysis, consumer behavior, segmentation, targeting and positioning as well as product and pricing plans. For a business to know whether or not the market needs new products, a comprehensive analysis needs to be done. 1.1 BACKGROUND INFORMATION BMW has been a successful automobile company since it was started. The company has manufactured a variety of models of vehicles and adding a new one would not do any harm. For business organization to prove that they are really working, they have to prove to their customers that they are able. One of the ways of keeping a business alive is by introducing new products. The company; BMW needs to introduce new models of vehicles following the outcome of the research on different a na lyses. The market is promising and from the report, it there is ready demand for subsequent products of the company. The company is assured that the market is ready to receive its new model; Brilliant. It can only react to this by launching the new product . 2.0 ENVIRONMENTAL ANALYSIS

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