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Characteristics of the typical bmw target audience

Since its inception, the BMW brand has stood for one thing: The new cars reflected the predicted changes in consumer tastes and behaviour which they had found through commissioned consumer research. According to the then Chief Executive. Customers are slicing the market into more focused pieces.

  • Listed below are the products and their attributes that are targeted to the segments mentioned above;
  • What are the typical ways the culture what characteristics of the audience did the of the empirical audience the mediated and target audiences;
  • It will also examine two specific target markets that BMW operates in and the typical customers contained in that target market.

It's becoming more differentiated…. The market is shifting. But satisfying the market's characteristics of the typical bmw target audience for new niche products is a strategic risk anyone in the industry has to take. Matching future segmentation research to product development or product or line extensions can be difficult. There are strategies to execute line extensions without confusing, and losing, your customers Trout, 2005.

What these strategies have in common is rigorous attention to the brand's position matched to clear understanding of future customers needs. The information is used across all areas of the business, from the design and development of the cars, through their premium pricing and all elements of the marketing mix.

These new upscale consumers included aging baby boomers, yuppies who had started families, and liberal-minded wealthy professionals. Research indicated they would want more vehicle choices and more eye-catching designs to suit their changing lifestyles.

With its future at stake, BMW made an ambitious gamble: It invested heavily on broadening its single, narrow product line into a whole spectrum of upscale cars. It put the BMW brand on sport-utility vehicles, convertibles, roadsters and, most recently, a compact car. BMW is very clear about its targeting. It only targets the premium-priced cars and does not strive to compete in every segment of the auto industry.

It avoids the high-volume market of middle-of-the-road vehicles and focuses strictly on the luxury sector. SIGMA was the company charged with researching the market. SIGMA looks beyond demographics such as age and income.

Characteristics of the typical bmw target audience

It often interviews consumers for hours and even photographs their homes and offices to build a picture of the mindset of different consumers. Sigma predictions were that there would be significant expansion of the luxury car market.

  • But increasing numbers of them are looking to move up above the middle class and are open to luxury-brand cars;
  • As noted by the BMW Group website n;
  • Selecting a target market is one of, if not the most important aspect that a company must consider as it is impossible to create a marketing strategy that caters to an entire market.

They foresaw that as the yuppies declined, other groups with different upscale mindsets would increase in number. They suggested four segments going forward and BMW reacted to the new segments by introducing a car to match 3 of them: For upper liberals, BMW added the X5.

They are highly individualistic and gravitate toward head-turners like convertibles and roadsters. They would normally purchase the Mercedes S-class and Jaguars as they strive for elegance and sophistication. What did BMW do? BMWs were considered too expensive for them. But increasing numbers of them are looking to move up above the middle class and are open to luxury-brand cars.

This group is also the target market for the new BMW compact, the 1 Series. Matching product development to segmentation is the core requirement of marketing that many companies do not understand or undertake successfully Christensen, et al. BMW is a very good example of excellent consumer research, matched to segments which were targeted by very suitable and successful cars.

Not a feat that many have successful managed. He expressed the difference he perceived between Mercedes and BMW as follows: If, however, he has made something of his life but feels no need to show off, then he buys a BMW.

What are the values you believe in for the products and services that you provide? This idea speaks not only for our products. It is employed across seemingly unrelated fields and organizations within the company. The concept of identity has three Characteristics that a brand has to comply with: The identity characteristics form the essence of the self.

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Without this sameness, the identity is not recognizable. In other words, repetition over time is necessary.

  • This is a very lucrative market but a market that requires companies to produce products of the absolute highest calibre to attempt to gain market share;
  • According to the then Chief Executive;
  • Breaking down the market into smaller sections allows companies to target a specific group and to design a product based entirely on their specific needs and wants Pride et al, 2006, pg 6, 38-40;
  • Performance The performance of the Z4 is the vital attribute that BMW have marketed to its target segment;
  • The customers lifestyle would be time-short and they would generally be living in the upper class.

It belongs to something or someone. Identity is linked to whatever or whomever possesses the identity, and offers a certain degree of distinction. There is no magic behind it.