Sunday, May 19, 2019
Bmw Films Case Essay
In 2001, BMW came out with its latest innovative marketing strategy titled BMW Films. In partnering with Fallon and Anonymous Productions, who connected with A-list directors, actors, and production value, created a series of five films collectively called The Hire that generated 2. 5 millions viewing hearing with over 24,000 more unit sales than the 2000. And the question now rise to what should BMWs next fit be. ANALYSIS It took the firm about 50 years from its prototypic automobile in 1929 to be securely established in North America.But right when some other Japanese cars entered the market in in the late 1980s, BMW went from ace of the most brought luxury car to falling behind Lexus who became the number-one luxury import in the country. The blade had an outdated image and U. S sales went from 96. 8 (thousands) in 1986 to 53. 5 (thousands) in 1991 back up by register 1 and 4. But after taking drastic measure of reinvigorate itself in North American by introducing invig orateder models and series that were more suitable for the North American market, a new brand image arose and BMW sales rebounded reach records level from 1996-2001.In 2001, BMW was definitely in its maturity material body where it has enough brand awareness amongst its target market that it didnt need an extravagant marketing budget. In Exhibit 2, out of the luxury brands top 5 highest total sales, BMW was the second most selling brand while only spending half (62. 4 million) of its competitors (134-215 million). BMW attracted a different psychographic than its competitors. It looked for highly educated eater person who wants to have a great driving experience. Exhibit 7 shows BMWs Customer prow vs.the Competition where the highest percentage of its target age group is 30-44 compared to everyone else. Besides Volvo, BMW customer base is predominately married men. BMW has one of the highest numbers of customers under 45 with no children and the lowest number over 45 with no chil dren. Compared to other luxury brands in Exhibit 3, BMW is right in the middle with pricing its Sedans. Its neither has the highest or the lowest price, which is right in line with its target market whos income is also in the middle scat from the others.(See Appendix 1 for SWOT analysis). ALTERNATIVES The different options for BMW is summarized by 1. Make the films available to a wider audience by distri entirelying in places like the theatres 2. Develop 3-5 more short films in relations to its real series 3. Develop a full length movie that would showcase in theatres 4. Do cypher and simply move on to the next issue RECOMMENDATION With all its success with the BMW Films, I would propose BMW go with option 4 and do nothing and simply move on to the next thing.According to McDowell, 90% (2 million) of the series viewers wanted to see more films, but in Exhibit 11 when BMW came out with 3 additional films, only 13%, 18%, and 29% of the number views compared to first film in the s eries respectively. I think BMW was able to successfully reach its targeted market and with its position as being the leader in the market. Where not only if the other companies starts copying BMW, but BMW when copies itself, just like the Goldeneye taught the company, repeat performances are rarely as compelling as premier performances.