StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Case Study BMW: 'Newness and the Product Life Cycle - Essay Example

Cite this document
Summary
Jim McDowell, the marketing vice president of BMW, highlighted the importance of introducing new and innovated models over certain period of time aside from maintaining the high-performance of its products, advertising, the use of its website and its partnership with Apple…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.5% of users find it useful
Case Study BMW: Newness and the Product Life Cycle
Read Text Preview

Extract of sample "Case Study BMW: 'Newness and the Product Life Cycle"

Download file to see previous pages

BMW regularly restructure its target markets in order to capture a bigger portion of its market share. In order to satisfy each individual preferences of its target customers, BMW has introduced several product lines in the market (U.S., Germany, and U.K.) including series 3, 5, 6, and 7; the Z line of roadsters; X line of sports cars; and M line of motor sport sedans. sense that the sales and profit is considered the lowest during the introductory period wherein BMW’s marketing department spends more time on conducting marketing strategies to convince its target consumers to consider buying the new product.

Eventually its sales and profit would gradually increase as soon as the market has accepted the new car model until it reaches the maturity stage. Upon reaching the maximum growth potential for the new product, sales and profit is expected to shift downward slope. Figure 11-1 is dissimilar to BMW’s product-life-cycle in the sense that BMW has developed a strategy that could prevent the company from reaching the decline stage by scheduling the introduction of a new car model from its product line.

For instance, BMW will introduce a new ‘Z’ model this year, a new ‘X’ model next year and so on. This type of product-life-cycle strategy enables the company to create new product demand each year. Based on the three ways of managing the product-life-cycle, BMW utilizes its product lines by modifying or improving its existing products in the market. Doing so makes it easier for the sales and marketing people to introduce the new product since its target customers already know about its existing car models.

The branding strategy used by BMW is unique and effective since the combination of its known car model such as the ‘Z’, ‘X’, and ‘M’ allows the consumers to have an immediate idea on the type of product BMW is selling in the market. specifications and preferences increases the probability that

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Case Study BMW: 'Newness and the Product Life Cycle Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1545526-case-study-bmw-newness-and-the-product-life-cycle
(Case Study BMW: 'Newness and the Product Life Cycle Essay)
https://studentshare.org/miscellaneous/1545526-case-study-bmw-newness-and-the-product-life-cycle.
“Case Study BMW: 'Newness and the Product Life Cycle Essay”, n.d. https://studentshare.org/miscellaneous/1545526-case-study-bmw-newness-and-the-product-life-cycle.
  • Cited: 1 times

CHECK THESE SAMPLES OF Case Study BMW: 'Newness and the Product Life Cycle

The Roles of Product Life Cycle

The author of this study "The Roles of product life cycle" touches upon the concept of production.... The main objective of product policy is to evaluate the risks and hazards that a product can cause during its life cycle by incorporating all the phases of product development, the possible players, trade policy and procurement, economic instruments, materials regulations, inter-trade agreements, environmental and labeling laws, and product design (Charter & Tischner, 2001)....
8 Pages (2000 words) Case Study

Marketing and Product Life Cycle

It will be largely dependent on its stage in the product life cycle.... In the following paper “Marketing and product life cycle,” the author examines the marketing of the new product which will accompany all the products distributed by Procter and Gamble.... During the growth stage, it is expected that the product will already be popular in the market but competitors are trying to catch up by making their own campaigns.... Procter and Gamble can stimulate the use of Key Ring by including its new product lines in the discount coupons....
1 Pages (250 words) Case Study

Information System for BMW

Getting feedback from customers is extremely crucial and it helps in increasing customer satisfaction as well as provides valuable information from customers can be utilized in the design process to design a product that better suits the requirements and desires of the customers.... The author of this case study "Information System for bmw" describes that the main challenge that the firm is facing is the lack of a centralized way to manage the various functions of the firm....
9 Pages (2250 words) Case Study

Coca-Cola Product Life-Cycle

"Coca-Cola Product Life-Cycle" paper seeks to conduct a case study on Coca-Cola's product life cycle.... nbsp;… the product lifecycle refers to the phases or stages through which a product, as well as various categories of a product, passes.... This involves a study of its existence from when it is introduced into the market, its growth in brand recognition and sales, its maturity, and its decline as a result of lowered demand for the product in the market....
6 Pages (1500 words) Case Study

The Idea of Newness

Hence, newness assumed a key position within the art system both in the sense of a product (novelty) and in the sense of an evaluation criterion (newness).... The paper 'The Idea of newness' presents newness as a concept denoting events, products, ideas, technologies, works of art, and processes of collaboration or coordination that have an irritating impact when they occur.... The attribution of newness usually arises in association with positively valued qualities, often supported by the inclusion of criteria such as originality or truth....
9 Pages (2250 words) Case Study

Analysis of BMW Films Case

The strategy is said bmw Films Case Study Introduction bmw is a renowned company that designs, creates and sells mini-automobiles in various countries globally.... New recommendation for McDowellConcerning a approach that can help consolidate the market position that bmw has had in their marketing and general growth, there is a need for the company to make a careful consideration of their previous action.... bmw Unit Sales in thousands (Moon 2003)Information from customers' feedback has openly shown that they loved the approach and were fascinated by the driver character in the bmw films....
3 Pages (750 words) Case Study

Product Life Cycle

hellip; It is evidently clear from the discussion that product life cycle assessment is done from a technique called 'integrated product management'.... It is important therefore to know the stages and the by-products at each stage of the life cycle of production.... But the full life cycle of a product goes beyond the immediate suppliers and consumers.... Integrated maximization of the 'economic', 'technological' and 'social aspects' of the product is the objective of lifecycle management....
11 Pages (2750 words) Case Study

The Concept and Measurement of the Obesogenic Environment

This paper ''The Concept and Measurement of the Obesogenic Environment '' tells that Studies on obesogenic environments have increased for the past decade because of the social and health concerns on the environment's role in rising obesity and obesity-related mortality and morbidity (Kirk, Penney, & McHugh, 2010)....
10 Pages (2500 words) Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us