BMW is one of the luxurious brand in automobile industry. BMW stands out in excellence and performances of its cars. It has launched the majority of its extravagance autos with a same worldwide brand and message overall including china. (Jun, X., Jiang, et.al, 2014) . BMW has the right vehicles for each part of a discretionary life, from making a terrific entrance at a state gathering to the day by day drive into the offices to the all around earned weekend away. Its scope of models are custom fitted to solace, wellbeing, adaptability and security, and offer opportunity of development without outskirts.
A Product can be a service or a thing. It can be physical or in virtual or advanced structure. Every thing is made to a expense and each is sold at an expense. The worth that can be charged depends on upon the business part, the quality, the advancing and the piece that is centered around (The Economic Times). There is a difference between Good or services, for example BMW’s car are the goods and the salesman selling the car is a service given to the customers. A consumer purchases a product depending on some factors. A Product needs to be communicated that means what benefits can customer drive from the product and difference it makes to their lives. A product should be adaptable like customers should get product according to new trends , time and competition( better than other substitute)and the variability of the product. (Landwehr, JR, & Herrmann, A 2015). BMW excels in all these factor and ensures higher level of customer satisfaction although BMW’s car cost higher than then many of the other automobile company but still people buy them because the quality and goodwill its has maintained over the years.
Brand is a name image , term or other element that recognize it from different competiters.Brand is your guarantee to your client. It lets them know what they can anticipate from your goods and services , and it separates your offering from that of your competiters. Your image is gotten from who you are, who you need to be and who individuals see you to be. After some time, the Brand picture gets to be connected with a level of validity, quality, and Satisfaction of the customer’s psyche.
BMW is one of the prevalent extravagance auto producers in Europe, North America, and the world today. BMW produces a few lines of autos, including the 3 series, the 5 series, the 7 series, the Z line (driven by Pierce Brosnan as James Bond in Goldeneye and a Z4 roadster in the zombie film) “. Offers of all BMWs vehicles have been on the ascent universally. BMW ‘s blue and white propeller logo has been connected with top-innovation, modern outline, comfort and unwavering quality. Brand Loyalty is likewise one of the components as a profoundly held responsibility to rebuy or repatronize a favored item/benefit reliably later on, accordingly bringing about dreary same-brand or same brand-set obtaining.(oliver, 1999, p.33). Another vital factor is Brand extension which organizations to enhance in various ventures. BMW have extensive variety of autos with various Price levels, additionally from most recent couple of years BMW have picked up Customers trust in motorcycles moreover. So BMW have expanded itself in various fragments in car ventures. (Choudhury, S, & P Kakati, R 2014).
A company launches a new product to susutain in the market or resolve the issues with the existing product. In the recent months, BMW have come up with whols new models of their car with better featuers , style, luxuries.
BMW 3 series 2016
BMW’s new 3 series 2016 is the best example that how BMW keeps on lauchning new cars with better technology. One of evey 4 BMW sold in north america are 3 series – 94,527 .(Bloomberg 2016). BMW’s strategy is to keep its products in the introduction and growth stages by periodically introducing new models in each of its product lines. In fact, BMW does not like to have any products in the maturity or decline stage of the product life cycle BMW have genearlly 7 years of product life cycle. For instance, with the 3 series, it will present the new vehicle model one year, the new roadster the following year,then the convertible, then the station wagon, and after that the sports hatchback. That is a new product presentation for five of the seven years of the item life cycle. (Jim Mcdowell marketing, BMW)
Student ID – 215401678
Word press Name – abhishekchoudhary7
Landwehr, JR, & Herrmann, A 2015, ‘Marketing and Product Design: A Rocky Love Affair’, GfK-Marketing Intelligence Review, vol. 7, no. 2, pp. 8-15. Available from: 10.1515/gfkmir-2015-0011. [28 August 2016].
Oliver Richard L (1999), “Whence Consumer Loyalty?”, The Journal of Marketing, Vol. 63, p. 33.
Choudhury, S, & P Kakati, R 2014, ‘An Analytical Study of Spillover Effect of Different Branding Elements on Customer-Based Brand Equity’, IUP Journal of Brand Management, vol. 11, no. 1, pp. 30-46.