In this project we are going to research and analyze the marketing strategy of four products within the luxury car market: BMW 745i, Audi A8, Mercedes S500 and the Lexus LS430.
ÃÂÃÂ¦BMW 745i: The 745 is the latest edition of the 7-series it was launched late 2001. We have chosen the 745i which is the small model within the 8-cylinder 7-series. At a price of DHS 250,000 it is considered to be cheap compared to the Mercedes S500 and the Audi A8.
ÃÂÃÂ¦The Marketing Mix:
"ÃÂ«Features: Offers x standard exterior colors and y interior colors. It also offers an option of individually customizing your car in terms of colors (exterior & interior) and wheels. Customers who prefer their car to have a sporty look can do so by consulting the sport division of BMW (Alpina). The 745i is considered to have shocked the car industry with its highly technological innovative features such as being the first car to have a 6-speed automatic gearbox and have all controls of the car at the user's fingertips so as to allow the user to have as much concentration as possible on the road.
"ÃÂ«Brand Name: BMW has created a unique brand name for its products. The 7-series shows this uniqueness to a great extent compared to the other BMW models.
"ÃÂ«Added Service: The Company offers customers the ability to communicate with the management and sales department via the internet. Another service is the ability to get road assistance wherever the user is with the help of GPS; the technicians send an engineer within 100 meters of the user to offer him/her assistance.
"ÃÂ«Warranty: BMW offers a 3-year or 60,000 KM (whichever comes first) warranty on the 745i, after which the user is responsible for all repairs.