Marketing plan Essay Example | Topics and Well Written Essays - 3750 words

Marketing plan - Essay Example Since the beginning of the competition, the company has decided to come up with different ways of reaching out to its potential customers. So far the company has hired Fallon worldwide and advertisement agencies in Minneapolis to develop new marketing strategies for their products. Since its introduction in automotive sector in 1916, BMW Company has come up with different products in the sector (Martin, Fabian, and Josh 2002A) The Company is also known for producing and marketing a range of sporty and higher end motorcycles and cars. Despite investing on cars and motorcycles, the company has also embarked on aircraft engine known as Rolls Royce. The company global subsidiaries and manufacturing plants are situated in Mexico, Brazil, Indonesia, Malaysia, Philippines, Egypt, Vietnam United Kingdom, United States of America, Australia and Germany. All this plants have very concrete and productive marketing channels and strategies. Currently, the company is as well operating its financia l cooperate which offers financial assistance to potential customers. This marketing plan is based on a 4C framework of credibility, consistency, competitiveness and clarity as BMW strives to enhance its market niche in Japan and China. Credibility refers to continued use of reliable information to customers and all the conditions of sale will be upheld. Moreover, BMW will continue to make luxurious vehicles that will meet customer needs and will strive to gain competitiveness in the new market. Moreover, the channels of distribution used by the company will be clear. 2.0: Introduction Since producing its first car, BMW has grown significantly marketing its products in different parts of the world. 1,366,838 cars of different models were produced by BMW group in 2006 and this figure rose to 1,481,253 in 2010. Moreover, the company has been producing motorcycles since 1916 and does its production in different countries of the world including Mexico, China, Russia, UK, Australia, US a nd South Africa. However, it only started producing cars in China 2008 as shown in the table below. Table1 showing BMW vehicle production from 2005 to 2010 Year BMW Rolls-Royce MINI 2005 1,122,308 692 200, 119 2006 1,179,317 874 186,674 2007 1,302,774 1029 237,700 2008 1,203,482 1417 235,019 2009 1,043,829 918 213,670 2010 1,236,989 3221 241,043 Source (BMW Group 2011A) 56 percent of the total BMW branded vehicle are petrol powered as the remaining are powered using diesel. 27 percent of the vehicles powered by petrol have four cylinders while another 9 percent have eight cylinders. 2.1: Market overview So far the company has to a great extent succeeded in its marketing strategy. The success is highly attributed by functional and consistent marketing strateg