Essay on Marketing Strategies of BMW

Good Essays

Clearly analyze the external influences affecting the development of the marketing strategy.

There are numerous factors that have an effect on BMW’s business and the consequences of its operations, a few of which are beyond the control of the Company. The following information below is an explanation of some of the mainly important factors that may cause the definite results of the Company's operations in potential periods to change essentially from those at present expected or most wanted.
Additionally, there are 4 macro marketing factors, which all concern
BMW's marketing strategy, and BMW themselves cannot change or influence them. These factors are: -

1) Social

This includes changes in population, community attitudes …show more content…

2) Legal

This includes European Union laws, rebellious behavior, sponsorship of cars (Formula 1) by tobacco companies, minimum wage and tuition fees.
Many of the legal, economic and social developments, in our own society and in others, are the direct result of political decisions put into practice, for example, the privatization of state industries or the control of inflation. Whatever industry the marketing firm is concerned in, changes in the legal and political environments at both the domestic and intercontinental levels can affect BMW and consequently need to be fully understood.

3) Economic

This includes interest rates, government policies, rising taxation etc. Economic factors are of concern to marketing firms since they are all likely to influence among other things, demand, costs, prices and profits. These economic factors are largely outside the control of the individual firm, but their effects on individual enterprises can be philosophical. Political and economic armed forces are often strongly interrelated. As can be seen, changes in world economic forces are potentially highly momentous to marketing firms, mainly those engaged in international marketing. In addition, a kind of economic changes and forces in the domestic economy is also of vital importance as, clearly, it is these factors, which

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