The luxury car producer segments its sales on the premise of demographics, psychographics and Behavioural variables (Klein, 2010). Usual buyers of BMW are the ones in the middle age (35-50), who excel in their career, have an essence of optimistic items and value their own economic wellbeing. The advantages needed by these individuals are prevalence, execution, dependability and eminence. Using the theory of consumer motivation, the BMW organization concentrates on provision of quality management to its consumers, and it will involve it in latest and beneficial domains to enhance the trade. One more basic point in the mission declaration is that BMW organization will make investment impressively in future advancements, latest vehicle designs and initiating drive structures.
At present, BMW is aiming to concentrate on the developing economies of the globe. The sales records of BMW in diverse markets of the world show that the European and the US markets are the greatest markets for BMW organization with respect to BMW trade. These days, regardless, the Chinese market has been an astonishing charm for the BMW organization and sold units have been rising in all months for the BMW. Finally it can be concluded that the BMW perceives from its customers and tries to influence by advertisement and marketing to create brand’s image. The improvement of the firm, spreading out in latest markets, motorized progress and purchaser trustworthiness are the best approach to BMW triumph in the luxurious car industry.
Remembering the ultimate objective to boost the advantages of the firm, BMW ought to drop off overheads. The mission statement of the BMW declares that the firm is focussing on reduction in the costs by lessening the amount of staffs and by lessening of overheads on Research and Development. It is suggested that BMW should not reduce the overheads on Research and Development.
Audi Corporation has an upcoming practice that lays stress on extra concentration in Research and Development, to scrutinize fresh regions of the automobile trade. So, BMW will need to continue spending on Research and development for reducing the overheads on car making. Therefore, BMW needs a great supply chain management strategy. The innovations must be there to reduce the costs of the different parts and different steps in manufacturing procedure.