Marketing Essay Example | Topics and Well Written Essays - 1250 words - 26

Marketing - Essay ExampleAs discussed earlier BMW is know for its luxury cars and primarily targets the subsidy food market segment to generate its revenues. In order to successfully infract an effective marketing strategy, satisfying the needs and requirements of the targeted consumers should be given the topmost priority by all organization. Hence, the first step towards developing an effective marketing strategy of BMW would be to analyze the consumer behavior patterns followed by the companys potential target population. The key issues that are having a significant impact on the global automotive industry are the increasing rate of urbanization, environmental issues and the ever-changing nature of consumer behavior. The two-tier concept of the industry is changing at a rapid pace. The mature automotive markets in US and UK are expected to run into with the emerging markets like that of China and India in terms of the needs and wants of the consumers regarding safety, reliab ility, and quality. Moreover, the automotive market segments comprising of low-cost and premium prices vehicles are also expected to converge. This type of changing consumer behavior and market trends indicate that the available opportunities for the cable car manufacturers would increase in relation to the increasing demand for mobility services and electric vehicles. As regards the targeted customers of BMW, they look for gamey standards of performance, luxury and quality in the products. There is an increasing demand for hybrid electric vehicles in the market as well.