In present days car is not only a essential need, it is still a very much status symbols. When we speak about the status, we know BMW (The ultimate driving machine) is one of its kind.
BMW is the 16th worlds most valuable brands (Forbes, 2015). The Bayerische Motoren Werke, we all known as BMW is a German luxurious vehicles, motor cycle, and engine manufacturing company started in 1916. It also owns and produce mini cars and serves as parent company of Rolls Royce motor cars. BMW is well known for its grand brand name, status symbol and luxurious cars. BMW increasing their brand image even more by actively participating in Corporate Social Responsibility. In 2002, the BMW Corporation has given $100,000 to develop a state art of the education center in Paris. They have given over $36 million through corporate giving in 2014. The BMW logo has become one of the most recognizable logos in the world. The logo indicates the brand image of BMW clearly.
BMW has known for its several products like luxurious cars, motor cycles, automobiles, motor sports and bicycles. In all of their products, BMW stands in high in terms of customer satisfaction and brand image. Among all the products those were produced by BMW, cars were the main products for BMW. BMW brand name is well famous for its cars.
The cars manufactured by BMW were always best in the market and they compete well with the competitors. BMW was very innovative in terms of their cars production and they have been stand differently all over the years. There are vast range of products in BMW cars based on the individual customer needs like brand image, status, look, safety and speed. They segmented their customers in all the above aspects and they were successful in producing their products in exact need of the customers.
The different car products of BMW available in the market are series 1 to 7, BMW i3, BMW i8, X models, M models and sports cars. They have been able redefine luxury with all these products. Many customers prefer to buy a BMW irrespective of their higher prices as their status symbol rather than the performance of the car. Now a days they are introducing more entry level cars to attract young successful people.
In present generation, people expectations are changing in day by day especially in cars. By keeping in mind, BMW always introduce new models with new innovations to match with the customer needs. They are always staying one step ahead and shaping the mobility of the future. The BMW group maintains its innovative drive and technologies to ensure the customer satisfaction and extending their focus beyond own research and development process.
The new product which is coming in to market is BMW vision 100 concept. It is a self-driving car through digital intelligence.
In this car, the driver will remain firmly in the focus with constant connectivity and digital intelligence. Even though world may well be changing, sheer driving pleasure is here to stay. It’s going to be one of the greatest innovations and this going to make drivers to ultimate drivers.
The final verdict:
After scrutinizing all the products introduced by BMW, I think it is successful in innovating new products according to the customer prospective and they are always one step ahead with the competitors.
I would be pleased to record whether you think BMW is really a status symbol and do you think BMW is producing new models as on time required by the customers? Please record your response in the comments below.
Name: Bandaru Venkata Krishna Chaitanya
Student ID: 215235456
User name: vkbandar
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Bmwusfactory.com. (2016). Social Responsibility | BMW US Factory. [online] Available at: https://www.bmwusfactory.com/sustainability/social-responsibility/ [Accessed 26 Apr. 2016].
Iacobucci, D. (2013). MM4. Mason, Oh.: South-Western College Publishing.
YouTube. (2016). BMW Vision Self Driving Car World Premiere 2016 New BMW Vision Concept Commercial BMW Vision CARJAM. [online] Available at: https://www.youtube.com/watch?v=0DS9PY6iaxE [Accessed 26 Apr. 2016].
Wikipedia. (2016). BMW. [online] Available at: https://en.wikipedia.org/wiki/BMW [Accessed 26 Apr. 2016].