Situation Analysis Bmw M5 Market
Situation Analysis BMW M5 Market
Table of Contents
1.0 introduction............................................................................................................... 2.0 Situation Analysis/Current Marketing Mix 2.1 Current Product 2.2 Current Pricing 2.3 Current Distribution 2.4 Current Promotion 3.0 Brand Positioning Theory 3.1 Define Brand Positioning 4.0 Target Market Identification 4.1 Geographic Segmentation 4.2 Demographic Segmentation 4.3 Psychographic Segmentation 4.4 Behavioural Segmentation 5.0 References List: 11
1.0Introduction BMW Group is one of the largest and most successful multi-brand automobile manufacturers in the world, headquartered in Munich, Germany. Just like many other automobile manufacturers, the company does not only manufactures, but also distributes and sells passenger cars including sedans, SUV, Coupe and Convertibles, etc. This report will give an evaluation for one of the popular model series, BMW M5, by investigating the product’s market.
This report mainly focuses on analyzing three elements of BMW M5’s market, which are current Market mix, brand positioning theory and target market identification. The purpose of this report is to outline M5’s market by providing an analysis of the three aspects.
This report will give a definition to each section in order to well understand each technical term, and then it will analyze the three aspects in depth. Finally, it will get a conclusion and give some suggestions.
2.0 Situation Analysis/Current Marketing Mix 3.1 Current product
Elliott, (2010, 21) states that a product can be anything offered to a market including a good, service, person, etc. However, the product BMW M5 can be obviously defined as luxurious goods. “High-performance, outstanding technology and the sensation of motor sport can be expressed in one single letter: M”. (Bavarian Motor Works, 2013) BMW M5 is a luxurious car which means the company target the
Table of Contents
1.0 introduction............................................................................................................... 2.0 Situation Analysis/Current Marketing Mix 2.1 Current Product 2.2 Current Pricing 2.3 Current Distribution 2.4 Current Promotion 3.0 Brand Positioning Theory 3.1 Define Brand Positioning 4.0 Target Market Identification 4.1 Geographic Segmentation 4.2 Demographic Segmentation 4.3 Psychographic Segmentation 4.4 Behavioural Segmentation 5.0 References List: 11
1.0Introduction BMW Group is one of the largest and most successful multi-brand automobile manufacturers in the world, headquartered in Munich, Germany. Just like many other automobile manufacturers, the company does not only manufactures, but also distributes and sells passenger cars including sedans, SUV, Coupe and Convertibles, etc. This report will give an evaluation for one of the popular model series, BMW M5, by investigating the product’s market.
This report mainly focuses on analyzing three elements of BMW M5’s market, which are current Market mix, brand positioning theory and target market identification. The purpose of this report is to outline M5’s market by providing an analysis of the three aspects.
This report will give a definition to each section in order to well understand each technical term, and then it will analyze the three aspects in depth. Finally, it will get a conclusion and give some suggestions.
2.0 Situation Analysis/Current Marketing Mix 3.1 Current product
Elliott, (2010, 21) states that a product can be anything offered to a market including a good, service, person, etc. However, the product BMW M5 can be obviously defined as luxurious goods. “High-performance, outstanding technology and the sensation of motor sport can be expressed in one single letter: M”. (Bavarian Motor Works, 2013) BMW M5 is a luxurious car which means the company target the
References: Rix, Peter. 2011. Marketing: A Practical Approach. 7th ed. Australia: Michael Bu Hagiar. http://www.bmwblog.com/2012/04/27/2013-bmw-m5-ordering-guide/ InvoiceSleuth, 2011, price list history for the BMW M5, accessed April, 8th 2013.