Executive Summary
Executive summary
PEST
Political
Socio(?)
During the early 90s, there was a sudden decline in the motorcycle market, which created a gap in the industry. This gap was identified by BMW and they decided to target this niche market segment by introducing the roadster concept.
3Cs
Customer
“The roadster product concept tests revealed high interest across a number of lifestage-defined segment, e.g. Generation Xers interested in unique image statements, men and women in their 40s who expressed a desire “to have the roadster I’ve been dreaming of all my life”, and nostalgic late-Baby Boomers yearning for roadsters of yesterday.” Common across these diverse demographic groups was a “lover of life” mindset and a propensity to seek unique expressions of individuality indicating a target market defined in psychographic versus demographic terms. PARAPHRASE
Competitor
Company
Bayerische Motoren Werke (BMW) had a significant position in the US luxury global automotive segment. The company had focused on quality-oriented products with model prices since its inception to counter attack the prevailing competition coming from major companies such as Acura, Infiniti and Lexus. Its mission was to become ‘the best rather than the biggest’ in the automotive industry. It wanted to achieve a unit sales volume of 100,000 units in the US market, which was considered as a mark for the leading players in the industry. PARAPHRASE
Strategic Options
4Ps
Product
BMW Z3 is the first BMW car which is being manufactured in North America which has not been a very big market [roughly around 16%] for BMW because of the inability of the American customer to associate with a foreign brand. Therefore the sales and marketing approach of BMW Z3 will lay the foundations of the future of BMW brand in America. Their phase I was a success, and they had two months between the launch and the product availability to further ingrain their brand image in the hearts of the Americans. So how to
PEST
Political
Socio(?)
During the early 90s, there was a sudden decline in the motorcycle market, which created a gap in the industry. This gap was identified by BMW and they decided to target this niche market segment by introducing the roadster concept.
3Cs
Customer
“The roadster product concept tests revealed high interest across a number of lifestage-defined segment, e.g. Generation Xers interested in unique image statements, men and women in their 40s who expressed a desire “to have the roadster I’ve been dreaming of all my life”, and nostalgic late-Baby Boomers yearning for roadsters of yesterday.” Common across these diverse demographic groups was a “lover of life” mindset and a propensity to seek unique expressions of individuality indicating a target market defined in psychographic versus demographic terms. PARAPHRASE
Competitor
Company
Bayerische Motoren Werke (BMW) had a significant position in the US luxury global automotive segment. The company had focused on quality-oriented products with model prices since its inception to counter attack the prevailing competition coming from major companies such as Acura, Infiniti and Lexus. Its mission was to become ‘the best rather than the biggest’ in the automotive industry. It wanted to achieve a unit sales volume of 100,000 units in the US market, which was considered as a mark for the leading players in the industry. PARAPHRASE
Strategic Options
4Ps
Product
BMW Z3 is the first BMW car which is being manufactured in North America which has not been a very big market [roughly around 16%] for BMW because of the inability of the American customer to associate with a foreign brand. Therefore the sales and marketing approach of BMW Z3 will lay the foundations of the future of BMW brand in America. Their phase I was a success, and they had two months between the launch and the product availability to further ingrain their brand image in the hearts of the Americans. So how to