See attached file for links to articles.
Need assistance researching (BMW Cars) using its website and attached links for articles to address the brand:
Identifies market segments and targets
Developed its brand equity over time.
Positions itself in the market.
Using ARTICLES from the brands website (BMW Cars) and attached links to articles on BMW Cars to answer above.
Need to include references. All research should be cited in the body of the paper. In-text citations and corresponding references should be included in your paper.© BrainMass Inc. brainmass.com March 4, 2021, 10:27 pm ad1c9bdddf
BMW: Brand Equity
This research discusses about brand building by BMW. Brand building is a crucial task that takes many years. BMW has positioned itself as a luxury cum performance car into premium segment. The research covers market segmentation, targeting and positioning strategy used by BMW. Apart from this, brand evolution has been also covered in this research. It is identified through the research that BMW has applied various innovative and technology advanced strategies to modify its product features like ESAP, dynamic traction system and dynamic control system.
Nowadays, global marketplace is changing that is encouraging organizations to strengthen over their brand management (Target Your Brand, August 2004). Preferences and taste of target market are changing due to globalization, so it becomes vital for organizations to maintain their brand equity. Brand entertainment has become the priority of audiences. BMW a largest car manufacture that is known for its premium brands like Rolls Royce, Mini and BMW (Joy is BMW). Brand equity of this car maker has evolved over the years. The company has successfully built its brand image in the market (Pike, 2009).
Market Segments and Target
Market segmentation and target strategies are effectively used by BMW to take the advantage of global customers (Joy is BMW). It has used its 3-series automobiles to target the low end customers. The company has used line filling strategy for its BMW brand to segment and target all affluent categories of customers like rich, super rich and wannabe rich. It has filled the gap by introducing x3 and x5 (sports activity vehicle), z3 and z4 (roadsters) and 6-series coupe (Carmona, 2004, May 27). It has added a new customer base to the company (Seventh Heaven, April 2005). This targeting strategy of the company has helped it to bring new customers in its brand franchise (Koucky, August 21, 2003). There are various variables that are used by this brand to segment and target the market. These are as follow:
Market Segmentation Strategy:
Demographic: BMW uses demographic variables to segment the market. BMW uses age, income, purchasing power, occupation and gender of people to segment the market for its different models and series (Bickerstaffe, May 2010).
Geographic: BMW segments target market on the basis of geographical aspects. IT operates its business in North America and Europe (Joy is BMW). People in these two regions are financially strong. Per capita income of the people living in these two regions allows ...
The expert identifies market segment, target, brand equity and positions.