Wednesday, March 3, 2010

Marketing Mix (Review)

Time and time again BMW has demonstrated its effective marketing mix which is evident in the advertisement below. First let’s break down the Marketing Mix into the four Ps: Product, Price, Promotion, and Place (concept discussed in Chapter 2 and in lecture). BMW manufactures high-quality automobiles which come in a variety of styles and designs. BMW offers everything from small cars to large cars, SUVs, convertibles and motorcycles. The sleek design and sporty appearance of all BMW vehicles has allowed the brand to build an excellent reputation for itself in the luxury car industry. BMW positions itself with the slogan “The Ultimate Driving Machine.” The price of BMWs is on the higher end which is consistent with its positioning as a high quality brand offering cars with superior performance. BMW does not offer large discounts on their vehicles because this strategy would go against their higher price point and positioning for the elite. If an average person could buy a BMW due to allowances or other large deals, that would take away from the brand’s value. In terms of promotion, BMW print advertisements like this one appear in sophisticated lifestyle and business magazines in order to capture their more affluent target market. Since performance is another key aspect, BMW sponsors professional race cars, is promoted at racing events and in other driving publications. Lastly, place, another element in the marketing mix, applies to BMW’s channels. Its vehicles are only sold through BMW dealers or other luxury car dealerships which also offer high-end brands such as Mercedes, Porsche, Audi (not brands like Honda for example). The exclusivity of retailers adds value to this elite brand, emphasizing it’s only for those who desire an “ultimate driving machine.”

Ashley Russell, Section E


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