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Questions And Answers
1. Do you still find this advertisementappealing? Explain.Point out at least three elements of the company’s branding in theadvertisement.
The “How to Get the Girl of Your Dreams” advertisement is rather appealing. It is appealing since it influences individual’s love-related feelings towards the BMW car. The love connotation in the advertisement moves people by speaking to their need to be loved and attract those who love them. Notably, things that move individuals by speaking to own needs or wants excites own interest.
The advertisement has several elements of the BMW Company’s branding. They are name, logo, and atmosphere. A company’s name and logo are commonly the foremost items, or elements, that people see. Elementarily, they serve as the company’s visual representation (Kim & Mauborgne, 2015). A company’s atmosphere is what its brand make people think of. When people think of BMW, they are likely to think of commanding engines, spare ordinary pickup, incredible speed, and a guarantee of dependability and safety.
2. Describe the targeted market and suggest ways in which the company can maintain loyalty among the current customers.
By and large, the BMW’s target market is the elite, upper, or rich class. The company’s brand management has always been aimed at making the class stay loyal to its products for long and having the class relate with the brand. The company targets the class in almost all economies and countries. BMW can maintain customer loyalty by customizing products to meet their customers’ unique needs, persuasions, and sensitivities. As well, BMW can maintain the customer loyalty by remaining innovative in its product design (Kurtz, 2014; Lehbrink, Osterroth, Schlegelmilch & Schlegelmilch, 2015).
4. List at least ONE competitor of this product and discuss how theymarket their products differently.
Audi is one of the leading competitors of BMW cars. Notably, BMW markets its cars as elite, luxury products and emphasizes on their speed and pleasurable drives. As well, Audi markets its cars as elite, luxury products. Even then, unlike BMW, Audi emphasizes on its cars’ style and design as opposed to speed, which is the thrust of BMW. Audi cars are positioned in the market as stylishly engineered cars (Schaffmeister, 2015; Taylor, 2015).
6. What is the market outlook for this industry, this company and this product?
The automobile industry will continue experiencing reduced sales, especially owing to the reducing, or falling, sales in China. Notably, China is the largest market for automobiles. The BMW’s financial forecasts may remain threatened by further worsening of the Chinese automobile market. BMW car sales are likely to face marked competition if the BMW car model range is not refreshed continually (Bourdin, 2014).
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