INTRODUCTION:
Bayerische Motoren Werke AG in English: Bavarian
Motor Works, commonly known as BMW, is a German automobile, motorcycle and
engine manufacturing company established in 1917. BMW is headquarter is in
Munich, Bavaria, Germany. It also owns and produces the Mini marque, and is the
owner of Rolls-Royce Motor Cars.
IMC TOOLS OF BMW:
IMC is being recognized as business process that helps companies to identify the most appropriate and effective for communication and building relationship with customer and stakeholders. There are six tools those are used by BMW, they are:
1. ADVERTISING
2. INTERNET/ INTERACTIVE MARKETING
3. DIRECT MARKETING
4. SALES PROMOTION
5. PUBLICITY/ PUBLIC RELATION
6. PERSONAL SELLING
BMW, as well as, any
other business entity has to divide population into different categories
according to a set of certain criteria and develop products and services that
are particularly attractive to this specific group.BMW uses three steps for targeting
which are market segmentation. BMW finds information by looking at Geographic,
Demographic and Psychological which helps them to target the market more
effectively.
DEMOGRAPHIC SEGMENTATION
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GEOGRAPHIC SEGMENTATION
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PSYCHOGRAPHIC SEGMENTATION
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·
Age: 30-50,
·
Income: $100000+
·
Loyalty Degree:
High
·
Education: Educated
·
Gender: Male (63%)/
Female (37%)
·
Occupation:
Business man, High level employees, Students.
|
·
Country:
Worldwide(specially in developed country)
·
Region: Urban
·
Cities: Major
Cities
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·
Lifestyle:
Succeeder
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Attitude: Car Enthusiastic
·
Personality: Classy, Passionate, Trendy
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1. ADVERTISING:
The goal of advertising is to boost the business's
bottom line. Advertising achieves this objective in direct, yet often subtle
ways. For instance, one technique of advertising is instilling a sense of
inadequacy in the consumer that can only be rectified when he purchases the
company's good or service. Advertising instills a sense of brand loyalty.
(i)
TVC:
Television is one of the most common platforms
for getting towards the brand. So does BMW make TV advertisements to generate
brand awareness and to meet the various needs of the same target.
(ii) OUTDOOR ADVERTISING:
BMW have outdoor advertising in many location throughout the world in major cities, highways, shops, skyscrapers etc. Outdoor advertising targets the mass market.
(iii)
MAGAZINE AND NEWSPAPER AD:
They give regular ad on newspaper and magazin. To
let their customers know about their new machines. From the very beginning BMW
is active in giving ads on magazine and newspaper.
2. INTERNET/ INTERACTIVE MARKETING:
3. DIRECT MARKETING:
BMW use direct marketing in many ways. BMW has
done adding direct mail to the comprehensive push for its first four-door
coupe, the 6 Series Gran Coupe, likely to pique the interest of affluent
consumers who prefer print over digital marketing channels. Another
brilliant direct marketing was BMW literally sent in market customers and prospects a piece of the race track during a recent integrated marketing campaign.
4. SALES PROMOTION:
BMW has been offering
very subsidized loan, often with interest rates of 0.9% or 1.9% to make it
easier to pay down equity in hurry and also make some promotion is special
occasion.
5. PR EVENTS/ PUBLICITY:
BMW focuses on PR events a lot. They sponsor event like live music shows, award shows, Olympic and participate cross rally, auto shows etc. In which they invent their stakeholders and loyal customers. On of their different PR event done through a flash mob which goes viral through medias.
THESIS AND MY OPINION:
Integrated marketing communications is an
approach to planning communications that gives your small business the
potential to get better results from your campaigns and reduce marketing costs.
To cope up with the competitors must use proper IMC and use state of the art
technologies to attract their target
market. BMW
is part of the "German Big 3" luxury automakers, along with Audi and
Mercedes-Benz, which are the three bestselling premium automakers in the world.
Thus make Audi and Mercedes Benz the big competitor of BMW. BMW focuses on
billboards, social media, websites, newspaper and magazines advertisements to
make the consumer emotionally attach to
BMW a luxury brand. Interactive and direct marketing are done in websites, showroom, auto shows, Facebook etc. They are present in all type of IMC campaign a company need to be make their customers feel special about their brand. With the combination of factors BMW have a good niche market in the automobile market.