BMW Marketing Mix: BMW can be described as an industrial company located in Germany that is known for its top-quality automobiles and motorcycles. It is one of the most well-known and well-known brands. The company is known for its dependability and high-end craftsmanship. It sold 1.95 million BMW automobiles in 2013 and more than 115,000 motorcycles. It is regarded as one of the “big three German cars ( Mercedes and Audi are the other two). BMW enjoys a huge worldwide desire for its vehicles and has been an iconic status symbol in many locations to own the BMW that is parked in your driveway. The company participates in numerous prestigious occasions like Formula One, bike racing, rally cars, and touring automobiles.
BMW India is an affiliate of the BMW group. It is headquartered in Gurgaon near New Delhi, and its manufacturing facilities are in Chennai. BMW India employs 650 staff and has 1.8 billion Indian rupees poured into this through the BMW group.
Marketing Mix Of BMW
Marketing Mix Of BMW is brand-based. In Marketing Mix Of BMW, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing BMW Marketing Mix. Below is the detailed Marketing Mix of BMW.
Let’s talk about BMW Marketing Mix.
BMW Main Competitors
- Fiat Chrysler Automobiles
- Toyota Motor
BMW official website: www.bmw.com
Product in the BMW Marketing Mix:
They began in the early 1900s with the development of airplanes and motorcycle engines before moving on to automobiles a few years later. BMW has for years currently been in the top position of its game in the automotive business. While BMW has been involved with various activities and sports in addition to different promotions, one of the main factors to the success of BMW is the variety of vehicles. BMW automobiles appeal to large numbers of people and even lower-class customers. It’s no wonder that BMW is a segment of the “Want segment” now. The wealthy want this model. Each car included in this series (1, 3, 5, and 7, along with X and other classes) is different to drive and has distinct characteristics. People who love cars regularly discuss these vehicles online and on television, with reviews about how great BMW is to move.
The sight of this car, at all speeds, on an open road is something to behold. BMW began with simple models but then moved to more advanced technology. BMW cars are now equipped with powerful engines, extraordinary performance, fantastic speed, and the promise of security and reliability. In the past, the ferocious marketing has helped propel BMW’s BMW vehicles to be awe-inspiring “Awe” factor. If you are looking at BMW, you are looking at it. BMW Motorrad, too, is focused on the highest quality of engineering products. However, the amount of vehicles offered by BMW is significantly more than motorcycles.
A key aspect here is that BMW can operate as a separate entity. At the same time, the other two German brands Audi and Mercedes, are tied to two different businesses (VW and Mitsubishi/Chrysler and Mitsubishi/Chrysler, respectively) and must utilize parts from various companies to achieve savings. BMW has no such limitations and can use the exact component specifically designed to perform the task. For the general public, this could boost the company’s reputation and is an unusual instance of people expecting to pay a little more for something they consider superior quality.
Key Product features are part of the mix marketing of BMW
- Luxury segment
- High-Quality products
- Great quality brand pull
- Excellent service
Place in the BMW Marketing Mix:
BMW has highly skilled staff who work in every aspect, from mechanics to customer support staff. They are all efficient and prompt and do their best to preserve the business’s image. BMW manufactures its products in a variety of countries. In India, the manufacturing facility is located in Chennai. The facilities were officially opened in March 2007. It creates the BMW series three, one, five, seven, and seven. The facility can produce 11,000 units per year at the highest output. The center for spare parts is situated in Mumbai to ensure that spare parts can be transported quickly.
BMW has a dealer-based system for selling its vehicles. BMW does not use auto distributors. Instead, it directly selects dealers in showrooms. Dealers because the cost is exceptionally high to hire an agent, and the margins are lower for museums. So, BMW has its authorized galleries, and its cars are sold in the showrooms directly to clients. For delivery of parts, BMW has distributors and stockists in strategically placed areas. BMW’s showrooms BMW is located in the top urban areas. Even in cities such as Mumbai, there are just 3-4 showrooms for BMW and none anymore because BMW could shed some image when it markets its products in a way that is too aggressive.
Key Distribution is a part of the mix of marketing for BMW
- Lean distribution model
- Dealers and showrooms make excellent margins
- A good supply of spare parts
Promotions in the BMW Marketing Mix:
The year 2012 saw BMW named the most trustworthy company in the world, according to Forbes.com. The criteria were based on ‘people’s desire to recommend, buy, and be employed by the business. The results were influenced by 60% of perceptions of the company and 40% through the perception of the products and services offered. Marketing professionals know that creating an image of a brand that is positive is a long process, and this is precisely what has happened with BMW. BMW has been advertising itself through the most impressive television advertisements, print, out-of-home, and online advertisements.
The company knows that its clients are looking for the highest standard from them and are willing to spend a little more to get it. They also want exclusivity since the vehicle should be kept from the masses. Therefore, the advertisements on TV are elegant and appear more professional than other advertisements for cars, requiring viewers to apply the same logic to their goods. BMW advertisements are as focused on the appearance and style of cars as they do the engine and technologies of the vehicle. BMW is also focused on customer satisfaction, and the purchase of the car is usually followed by a gift of some memorable moments to the purchaser when they purchase the vehicle.
In general, it is thought of as people being tied to success, someone with more money to invest in the finest and most exquisite items instead of purchasing a standard vehicle. The iconic cricketer Sachin Tendulkar, a massive admirer of BMW and West Indies cricket team captain Darren Sammy, was roped in to be their Brand, Ambassador.
The essential promotional elements within the mix marketing of BMW
- A strong brand influence due to exceptional marketing throughout the many years
- The company is based on the pull strategy more than the push strategy.
- Head of the line positioning auto brands
Price in the Marketing Mix Of BMW:
There is no doubt that with this level of technology and high-end position, BMW is a high-end car and motorcycle business. The prices for BMW automobiles can vary significantly based on the model, series, or other features the buyer plans to buy. However, one thing that can be said is that BMW automobiles are only aimed at some since they are more expensive than other cars due to their style and technology and are more costly for repairs and general upkeep.
Compared to competitors, BMW has also launched affordable vehicles (according to BMW standards), such as BMW X1. BMW X1. Its price begins at 22.5 lacs. Its primary goal is to take advantage of this Indian marketplace. BMW provides a variety of loan offers and repayment options to assist those who want to spread their costs and has hundreds of showrooms and dealerships worldwide.
The most crucial pricing is part of the mix marketing of BMW
- Premium pricing
- Pricing aids in creating”the “Want” feeling
- Marketing costs are high to keep the image of the brand
This is the Marketing Mix Of BMW. Please let us know if you have additional suggestions to add.
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