Essay on Bmw Presentation for Marketing Planning

Targeting is a method of examining the market segments and follow all or any of the following 3 types: undifferentiated, multisegment (differentiated) and concentration (niche) (Palmer, 2009). Selfridges’ products diversity means its target include both men and women aged >25 years belonging to the high-income group whose interest is fashion and luxury. Thus, Selfridges’ targeting can be said to be concentration (niche); however, due to its prime locations, Selfridges also attracts general public including families, singles and tourist. Therefore, in that aspect, its targeting strategy is differentiated.

By using Marketing strategy, organizations concentrate their resources on the greatest opportunities to increase sales and maintain a competitive advantage in its market (Wickipedia, pg1).Market segmentation is the process companies use to divide their market into groups of buyers and establish marketing tailored to individual groups. Market targeting is the process of actually choosing the market which poses the greatest profitability. Positioning involves product placement and helps marketers highlight their product over a competitor. The

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

Target market is the market segment to which a particular good or service is marketed. It is generally studied and mapped by an organization through lists and reports containing demographic information that may have an effect on the marketing of key products or services.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

Finally, a segment focus involves targeting a more limited customer base. Rather than adapting a product or service, a company using this strategy chooses to accept the reality that without modification, their products will appeal to a smaller market segment or different distributor network from those in the domestic market. Many luxury good manufacturers use this approach.

The Right Target Market One of the most important marketing functions for a firm is finding

Following the segmentation process, a target marketing strategy was implemented to select the most valuable customer segments.

At the point when the organizations take adventure in business, subsequent to characterizing the clients' needs and wants first, they choose the marketing offering, then segment and target the market that they plan to serve. Truth be told, the organizations are not ready to serve and fulfill all clients similarly. Hence, the market is partitioned into littler parts, which incorporate buyers who react comparably to a given arrangement of marketing efforts.

It cannot be denied that the objective of advertising to specific target audience group has significant benefits for increasing market share and sales in organisation’s category (NIVEA MEN). Organisations are shifting to a new approach to communication, which supported the organisations engage in potential market (Madhavaram, S., 2005).

This marketing report aims to examine and explain the marketing strategies of BMW , In this report I will be focusing on:

Many businesses, as well, have found social networking sites to be a wonderful opportunity for the expanding their company and extending into new arenas. Businesses are able to find more meaningful conversation with their followers and fans — who either already are customers and supporters, or are highly qualified prospects. These networks are easy to navigate, can be updated and viewed from anywhere in the world on a wide variety of devices, and have been proven to be effective tools in a marketing toolbox.

Marketing Communications, such as advertising, can inform, persuade, remind, reassure and ultimately differentiate one product from the next.

Furthermore, we are defining the target market not only by customers’ age, but also by, demographic, social, psychological and economic factors to

target markets with respects to that product. For this reason, in this report I picked