The idea of BMW
The driving BMW is not based on perceptions of luxury or status but rather on the product attributes. When the people develop a positive self-image then they derive utility from it while a huge role is played by the own preferences of individuals in the determination of self-image. There is also an element of the self-image that is honesty as people consider it good to be concerned about the environment but bad about the status. The variable of honesty moderates the perception bias. The luxury brands are first adopted by the affluent class and are then reinterpreted and translated to the mass markets. In order to give expressions to their desires, luxury brands must be marketed well to the customers. The product manufactured by BMW itself is the key features of marketing messages developed by BMW particularly for the UK market.
Advertising and BMW Marketing Strategy
It is working with advertising agency WCRS since 1979. The company also focuses on the brand value in the advertisements but mainly it communicates competitive, economic and environmental aspects. BMW target market appreciates sporty cars and considers driving to be fun. However, they want the element of elegance also. There are differences in the customer profiles for BMW based on the product range. For example, BMW 3 Series Convertible and BMW Z4 are preferred by the female customers with an inclination towards the open drive. On the other hand, 60% of the buyers of BMW models X, X3, and X5 are modern families who have at least one child in their families. These buyers prefer BMW because of its interior versatility and spaciousness. Those who have the inclination towards an active lifestyle and outdoor activities such as skiing, water sports, and cycling prefer to buy BMW 3 Series and 5 Series. BMW 1 series as well as Z4, is liked by the urban customers where 40% of them are younger than 40 years. When assessing the target market of UK, it is found that customers are mostly 45 to 50 years old, are well educated, two-thirds are male, have the median income of £68,500, consider technology to be important, are loyal to BMW brand and consider driving as the way of personal expression.
Car manufacturers do not only focus on the car models but also on the level of service that is desired by the customers. Car manufacturers wish to maintain a positive image of the brand in the minds of the consumers so that the increasing competitiveness can be managed well. The brand image can be determined in the light of the customer satisfaction, loyalty, and preference for the brand. BMW has successfully maintained its four core values of quality, technology, performance and exclusivity since years. The message delivered to the consumers through advertising is also aligned with the BMW marketing strategy. In advertisements or marketing tactics, BMW expresses one or more of these values. However, the company responds to the economic, competitive and environmental changes which reveal sensitiveness towards the business environment.