Get help now

Bmw Z3 Pre-Launch Strategy

dovnload

Download

  • Pages 6
  • Words 1380
  • Views 31
  • Can’t find relevant credible information

    Let our experts help you

    Get help now

    Question 1 Define what you see as the 2 main risks and 2 main benefits of non traditional marketing.

    Use the BMW case to support your assertions. A paragraph explaining each point will be sufficient. Answer 1 The Z3 case shows how communications strategy and tactics have evolved beyond traditional TV and print advertising. *Two key* Risks of Non-Traditional Marketing are highlighted below: *Systems not in place to measure the effective*ness* or success*.

    Examples from the case highlighting this risk are: Apart from the fact that the return of investment is not guaranteed, there is no real way of measuring the effectiveness of a particular element. This is the supported by the major risk undertaken in the Radio DJ program. Even though, the program worked well for BMW; they received 6,000 spots when they were only promised 3,800. However, the BMW management was not sure of how this would pan out and only gave the go-ahead 1. 5 weeks before the d-day. Lack of control of the outcome.

    Examples from the case highlighting this risk are: The total unpredictability of the message content on the Jay Leno Show. Even though, it was a calculated risk, the outcome would be known until it was too late. So essentially, BMW would have to accept whatever happened, good publicity or bad. BMW did not anticipate that the Neiman Marcus Catalog would receive 6,000 customer orders as compared to the predecided Even though they benefitted from this, there was an aspect of lack of control. Mutual Leverage due to corporate partnerships *between *BMW and others*.

    Examples supporting this benefit are: BMW teaming up with Bond was an excellent move. Bond and his movies completely encompass the message that BMW communicates to consumers: excitement, thrill, high-class and fun. And what better way to promote a car positioned as such than to feature it in a movie that brings these qualities to life. Potential to create ‘Buzz’ for the product. Examples supporting this benefit are: BMW achieved great hype and reached a large audience through the Jay Leno show. They also received hree times the word-of-mouth effect as compared to the other prelaunch initiatives through the Radio DJ program. Through their ‘Golden Eye’ corporate movie partnership, they successfully gained access to foreign markets and young people who are cannot be reached through traditional marketing methods. Question 2 Drawing from the BMW case and other examples of NT marketing, explain these differences between NT and traditional marketing. It is important that you draw on original examples to support your answer. What is the process of communication in non traditional marketing and how is it different from traditional marketing.

    Today, most companies are working to drive traffic, increase consumption and grow sales in the midst of economic uncertainty. Consumers have started to feel bombarded with marketing initiatives. With the uncertainty of returns on marketing dollars and inability to reach customers, it is critical to get creative. Traditional marketing (TV, Radio, Print, Direct Marketing) is Company-focused and product-based. It intends to increase the company and brand visibility and is targeted to mass markets. The message conveyed to the customer is Company-controlled and motivated. Examples of Traditional Marketing

    Coca-cola, P&G, Nestle and Unilever are good examples of companies that still attract large segments of the masses and rely on traditional methods to build on brand loyalty. Examples of Non-traditional Marketing An example of this is the Max New York Life (MNYL) Insurance campaign in India. MNYL targeted consumers at grocery stores by using a crate of eggs as the communication vehicle. The crate states that ‘Life is equally fragile. Protect it with life insurance. ” It was very unconventional yet highly successful campaign. {draw:frame} {draw:frame} Elizabeth Arden launched an interactive website for Fantasy (Perfume) that eads into Britney’s magical dream world. The story unfolds along with the pages of a virtual book while offering ring tones, screensavers, love games and free samples. Australia was the most successful Britney fragrance launch worldwide on a per capita basis. Based on the ‘Lover of Life’ psychographic segmentation done by BMW, the concentration on non-traditional marketing helped create a huge demand at unusually low prices and gave BMW a competitive advantage over rival firms in the same market while also succeeding in building an emotional relationship with the consumers.

    Question 3 Put yourself in the shoes of Jim McDowell, the VP for Marketing at BMW. We are in January 1996. You have created the excitement around the new BMW. The dealers have the names of 9,000 prospective customers. The important question you have to answer is: How will you use marketing communication tools to translate this excitement into sales? Briefly define the core points of your communication strategy (in bullet points) for phase II and explain in 2 to 3 paragraphs the rationale behind your strategy.

    What communication vehicles will you use and why? Answer 3 After the success of the Z3 Prelaunch, BMW had to sustain the ‘Buzz’ it had generated in America and to convert this excitement into actual sales. Since the Z3 is considered an emotional purchase and competes in an intensely competitive market, I recommend that for the Phase II Z3 launch, we continue to follow non-traditional marketing methods but also use elements of traditional marketing to sustain and increase anticipation in the Z3.

    For the launch strategy to successfully meet the project’s objectives, BMW should: Use the roadster to motivate and stimulate the dealer network to meet higher standards to qualify for the roadster Build an order bank to enable the new Spartanburg plant to build to the specifications of the customer Design a marketing program that would sustain product excitement until dealer product availability. Additionally, dealers need to deepen BMW’s relationship with self-selected prospects through: Dealer promotion kits Direct mail, videos can give the person a “taste” of what is in store

    Test drives can keep appetites whetted Time to time Z3 progress updates (Z3 Newsletter) that would build “anticipation” Therefore, the Communication Vehicles to achieve BMW’s objectives could be as follows: Promotional Events: BMW identifies events that Americans are interested in ranging from Sport events, to Fashion events, to Award shows, Concerts, to Celebrity related events. ‘Visit Home of the Z3’ Contest: A Contest where the winner gets to visit the BMW manufacturing plant in Spartanburg, South Carolina (the home of the Z3).

    The winner can drive home in his very own Z3. Creation of the BMW Z3 Microsite: Great avenue for prospective customers to receive information and interact with other members of the BMW community. Z3 Short Films: This would re-enforce BMW’s message to all consumers; classy cars for drivers who love to drive and crave exhilaration, thrill, fun and passion. Z3 Communication on Public Transport (Trains / Buses): Simple, innovative and impactful messages that will be imprinted in the consumers’ mind.

    Additionally, since consumers spent a lot of time waiting at train and bus stops, similar messages can be advertised there. Z3 Communication on Interactive Billboards: Great way to grab the attention of passer-bys and create hype. Specialized Events showcasing the Z3’s superior technological advances Advertising and promoting the Z3 in Magazines and on popular Talk Show Fallon McElligot (BMW’s agency) could release a TV & print campaign that re-enforces BMW’s message.

    Non traditional marketing is not suited to every kind of product launch. Certain products and services are still best promoted using traditional marketing tools and media. Explain in 2 to 3 paragraphs the types of products that are more suited to non traditional marketing communication tools and the ones who are more suited to traditional marketing ones. You could structure your answer as a simple table. The type of communication mediums used depends on the level of involvement of the customer and the type of product being marketed.

    For certain product and services, consumers use peripheral cues to make decision and for other products, decisions are carefully weighed and researched. However, having said that, consumers classify products into low involvement or high involvement categories based on their varied interest levels in those products. A company must understand this before selecting the marketing method most suited to the product’s objectives. A right mix of both methods can also do the trick. Below are some examples of products and services, their target audience and the various marketing methods that are used.

    Bmw Z3 Pre-Launch Strategy. (2018, Jan 30). Retrieved from https://graduateway.com/bmw-z3-pre-launch-strategy/

    Hi, my name is Amy 👋

    In case you can't find a relevant example, our professional writers are ready to help you write a unique paper. Just talk to our smart assistant Amy and she'll connect you with the best match.

    Get help with your paper