BMW is the world’s most famous manufacturing company of the world class motorcycles and cars in Germany, and also the most admired and recognizable brand across the globe. It is known for its quality and reliability workmanship. BMW has sold cars more than 1.95 million in 2013, and more than 115,000 bikes. It comes in the big three luxury German cars manufacturers- Audi, BMW and Mercedes. It enjoys the high demand from consumers across the globe. Buying BMW is now a status symbol for consumers. It participates in different esteemed events such as bike racing, rally cars, formula one and touring cars (BMW, 2018).
Products in Marketing Mix of BMW
BMW Company primarily focuses on the manufacturing and production of the high luxury four-wheels and two-wheels automobiles for satisfying the needs of consumers from across the world. These automobiles are manufactured in the specific places, which has all the certain needs for every segment. Many of them offers very high degree of customization to the consumers, however, many of items have standard designs and features across the continents. BMW’s four-wheeler automobiles are always linked with its luxury segment of the products, targeting mainly upper-class of the society. It has been the constant efforts to be known as the “Premium” by its customers. Its products are Sedans, sports car, and SUVs that offers performance, status symbol and style. Its two-wheelers represent class and unique features, which always improvise with the help of its technological and innovative team. Its key products are;
• Excellent Brand-pull
• Luxury segment
• High-quality products
• Good service(BMW, 2018)
Price in Marketing Mix of BMW
BMW is the premium prices motorcycles and car company because of its good technology and mind positioning. The prices of the BMW cars differentiate by the great deal, which are completely depend in the models, series and extra features that buyer wants to have in the car while purchasing. Its cars are most expensive than other cars due to its unique designs, features, technology and image, and also very expensive for the maintenance and repairs. BMW faces a lot of competition and because of which it also introduced the low priced vehicles according to its own standards like BMW X1, which starts from Rs22.5 lacs. This is done to tap the country’s local market. It also offers loans, and repayments for helping those who wants to spread cost, and possess showrooms and dealerships word. Its key pricing features are;
• Premium pricing.
• High marketing cot for maintaining the brand image.
• Pricing genuinely helps in creating the demand (Bhasin, 2017).
Place in Marketing Mix of BMW
The BMW has efficient and highly skilled employees who work in every area, from the mechanics to the consumer help lines. All are professional and prompt, and strive hard for maintaining the image of the company. It has several manufacturing facilities in different countries. Its facilities have the capacity of manufacturing on average 11000 units. The spare items and parts are also transported which could be carried swiftly. It has the dealerized network of its automobile sales. It does not sell through the automobile distributors, but appoints showroom dealers directly. This is done due to the fact that investments are high for assigning the distributor and the margins for showrooms are less. It has its authorized showrooms which sold cars. However, distributors are responsible for the spare parts.
Its main distribution features are;
• Good provision for the spare parts.
• Model of lean distribution.
• Showrooms and dealers earn good margins (MBA skool, 2018).
Promotion in Marketing Mix of BMW
It is the world most renowned brand from more than the half century. It is involved in strong and aggressive marketing of its products and other things its offers. Its promotional strategy involve the use of multiple media channels like TV, billboards, online ads, print media etc, for creating the brand awareness among consumers. The company has been the sponsor of multiple racing rallies and events and some other sports occasions. It also promotes several celebrated rally racers and sports teams. It does several campaigns and work hard on the objective of growth and expansion (MBA Skool, 2018).
BMW, 2018. About us. [Online], Available at: https://www.bmw.com/en/index.html, [Accessed on: 7th July, 2018].
Bhasin, H. 2017. Marketing mix of BMW. [Online], Available at: https://www.marketing91.com/marketing-mix-bmw/, [Accessed on: 7th July, 2018].
MBA skool, 2018. BMW marketing mix. [Online], Available at: https://www.mbaskool.com/marketing-mix/products/16810-bmw.html, [Accessed on: 7th July, 2018].