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Research BMW Mission, Vision, Objectives, and Strategies (Case Study Sample)
BMW Mission, Vision, Objectives, and Strategiessource..
Case Study for Bmw
Bayerische Motoren Werke is a German manufacturing company. It is commonly known as BMW. The company manufactures luxury vehicles, motorcycles, sport cars, and engines. It was founded in the year 1916 by Franz Josef Popp, Karl Papp and Camillo Castiliglioni. BWM is headquartered in Munich, which is the biggest city of the German state of Bavaria. BMW Company owns Mini cars and it is also the company that owns and runs Rolls Royce Motor Cars. The company manufactures motor cars under the BMW Motorsport, which is the division of BMW accountable for activities related to motorsport including work- runs competition programmes in touring car racing and motorcycle racing. The company also manufactures motorcycles under BMW Motorrad, which is the motorcycle brand of the BMW Company. In football, the company sponsors Bundesliga club Eintracht Frankfurt and it has also sponsored different European golf events such as PGA championship and the BMW Italian open. The company is a charter member of the US Environmental Protection Agency’s National Environment Achievement Track, which acknowledges organizations for their improvement and achievement. The Company is moreover a member of the South Carolina Environmental Excellence Program. The company competes with other companies such as Mercedes Benz, Audi, Porsche, General Motors Company, Toyota Motor Corporation, and Volkswagen. It is considered as one of the excellent selling pleasant and comfortable automakers in the globe.
BMW Mission, Vision, Objectives, and Strategies
The mission statement of BMW states that the company is the world’s ranking first provider of quality goods and services for individual movement. The vision statement of BMW states that the company aspires to be the most fruitful superior manufacturer in the car industry. The objectives of the BMW company include to make their status powerful at the end of each year, to produce cars that are friendly to the environment, to be ahead in the competition, to be responsible as a way of helping the society and to continuously produce goods of high quality that are appealing to everyone. Finally, to elevate it’s sales across the globe.
The BMW Company has adopted pricing and marketing strategies with an aim of growing its business. Examples of marketing strategies include sales promotion strategy where it engages in providing short-term incentives to clients who buy their products so that they attract more customers and in return increase its sales. It has also adopted an advertising strategy where it advertises its products through different channels so that it can call public attention to their products in the hope that individuals will be persuaded to purchase its products. It has moreover adopted the public relation strategy where it maintains communication with its suppliers, customers, retailers, and employees through different channels of communication so that they it can sustain a favorable public image and the favorable public image can in return aid in promoting an increase in its sales. In addition, it has adopted the experiences and events marketing strategy where it incorporates it with the celebrity endorsement marketing strategy to progressively create experiences and organize events to exhibit their enhanced features and efficient designs so that a long-lasting influence can be formed on its client.
Examples of pricing strategies BMW Company has adopted include the price skimming strategy where the company sets high prices on their products at the introductory phase then it lowers the prices when competition steps in and the market price of the particular products is reduced. Secondly, it has adopted the premium pricing strategy where it sets the price of a product higher than similar products with an aim of maximizing profit. Lastl...
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