Target Marketing - Bmw

2537 Words May 7th, 2010 11 Pages
Target Marketing and Market Segmentation

Table of Contents

Title Page 1

Executive Summary 3

1. Market Definition 4

2. Market Targeting 4

1. Segment 1 5

2. Segment 2 5

3. Market Profiling 6

1. Segment 1 – Older Affluent Professionals 6

3.2 Segment 2 – Young Male Affluent Professionals 7

4. Product Attributes 8

1. BMW Series 7 – Segment 1 – Older Affluent Professionals 8

2. BMW Z4 – Segment 2 – Young Male Affluent Professionals 8

5. References 9

Executive Summary

The Australian Automotive Market is one of the largest and fastest growing industries
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2.1 Segment 1

The first segment that BMW promotes its products towards is older men and women who are looking for a very high-quality luxury car. This segment generally comprises professional men and women between the ages of 35-50. This is a very lucrative market but a market that requires companies to produce products of the absolute highest calibre to attempt to gain market share. This market satisfies all criteria necessary to make it viable. The target market consumer base is similar enough in that, many people who are looking to buy very luxury cars have similar desires however the market is also “heterogeneous” in that the characteristics of a product that satisfy someone looking for a low budget family car would be very different from someone wishing to purchase a luxury car. (Pride et al, 2006, pg 125-125) The luxury car market is also a substantial enough to support BMW as, according to the 2001 Australian census taken by the Australian Bureau of Statistics (ABS) (2001), over 400,000 Australians currently claim and income of over $100,000 a year, thus giving them a high enough disposable income to enable them to purchase a luxury car. Finally, while there is fierce competition in the luxury car market, BMW’s highly regarded brand name and customer confidence allows them to confidently attack this market segment.

2.2 Segment 2

The second segment

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