Marketing Plan for the Launch of a new, electricity powered BMW in to Essay

Marketing Plan for the Launch of a new, electricity powered BMW in to the UK market - Essay Example BMW can be categorised as being the fashion brand. Its future growth strategy has been focused upon achieving greater market share in luxury car market by providing its customers innumerable alternatives (BMW Films, n.d.). It has three brands namely BMW, MINI and Rolls-Royce Motor cars. The BMW Group has set its vision upon the premium sector of the international automobile markets. In order to achieve this aim the company is well equipped with the knowledge of deploying its strength along with the efficiency that is unmatched in the automotive industry. The company can be marked as the leader in providing the premium products and services for individual mobility (BMW Group, 2010). This marketing plan has been developed to launch the new i8 car of BMW in the UK. It will deal with the tactics and strategies that are required to launch a product in the UK market. The chosen vehicle is an electric car with zero emission. Therefore, it would be prudent to have a brief understanding on th is product of BMW. It is to be noted that BMW’s i8 has been based upon the Vision EfficientDynamics concept. It’s a plug-in hybrid drive vehicle. It aims at offering high performance and low fuel consumption as well as low CO2 emission. It is worth mentioning that the term ‘i’ refers to sustainable vehicles and mobility solutions (Auto Sr. Reporter, 2011). 2.0 Situation Analysis 2.1 Company Analysis BMW has been a luxury and performance car manufacturer. The revenue of the company had been ?3.468 billion in the year 2008. There has been decline in revenue by ?0.7 billion from 2007. Its target market has been middle to upper class individuals and families and business users. It tries to maintain a competitive edge by relying on the ‘Efficient Dynamics’ strategy. It endeavours to adapt to the latest technology and focuses upon greater sustainability. It is majorly customer focused (Bai & Et. Al., 2009). 2.2 Competitors Analysis The major competi tors of BMW in the UK are AUDI and Mercedes-Benz. However, the market share of BMW had been the highest in three consecutive years, i.e. 2006, 2007 and 2008. In the year 2006 the market share of BMW had been 6.45% while that of AUDI and Mercedes-Benz had been 3.6% and 3.31% respectively. The market share of BMW in the year 2007 had been 6.97% in comparison to 4.2% and 3.39% of Audi and Mercedes-Benz respectively. In the year 2008, there had been a slight decline in the market share of BMW by 0.63 points. It had been registered at 6.34% of BMW and 4.7% and 3.42% of AUDI and Mercedes-Benz respectively (Bai & Et. Al., 2009). It is essential to know about the competitors in order to launch the product. The understanding of the existing competitors can aid while considering the quality of a new product to be launched and will also aid in innovating new ideas that can be implemented in the products and services. Customer responsiveness will help the organisation to establish the needs and wants of the customers and develop the products that can be used to satisfy the needs of the customers (Bai & Et. Al., 2