Customer and Supplier Engagement, Study Guides, Projects, Research of Business Economics

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Customer and Supplier

Engagement

Student Name Class name Course code May 14, 2021

Introduction

• In 1917, BMW was founded.
• The BMW Company has 24 production plants throughout the 13 countries and is a major maker of luxury vehicles.
• BMW Group's manufacturing is designed to meet the requirements of various clients with a range of premium, mid to low market styles.
• In the majority of the automotive industry the BMW Group takes its benefits from the high-tech and appropriate management (bmw, 2021).

Cont..

PESTLE Analysis

Cont..

Economic Factors:

• The European automobile demand differs with the reduction in euro currencies.
• The sector has had an impact on the European market's downward trend.
• Economic trends worldwide have a strong influence on top brands such as BMW, which is distributed across the globe.
• Skills and needs acquired by developed nations attract new technologies.

Cont..

Social Factors:

• Changes in cultural factors which categorise the symbol of status at a time or development based on fuel efficiency affect supply factors.
• Differences of buying power due to the patterns of the market influence revenue.

Technological Factors:

• Use of more technologies due to the market demands.
• Technology not only contributes to cost reduction, but also makes designs diverse and yet convenient.

Product Strategies

• In the global markets, BMW Group focuses mainly on the production of high-luxury multiple and four-wheel vehicles (bmw, 2021).
• Certain brands give their consumers a high degree of personalization, whereas most products are common across continents.
• (^) BMW's four-wheel car has always been connected to the premium goods market.
• The corporation also has a car and bike production facility for some countries. In general, these products are classified as specialty products on the market.

Pricing Policy

Promotional / Customer Engagement

Strategies

• The effectiveness of BMW's ads has been measured by clicks and impressions no longer enough, so the "business commitment" methods need to be validated.
• Old school metrics come into play, but we move towards customer experience metrics.
• BMW hopes to break away from the pack with future attempts that still rely strongly on individualization and CRM from converting it in consumers to convince the driver to want to purchase the same product.

The Distribution Channel Engagement

Strategies

Conclusion

• The management of the BMW Group is effective and the performance is high; its future depends on external environments and internal activities.
• The future prospects are not only external but also internal.
• In general, BMW's global business strategy for luxury bridge and emotional marketing also offset the company with superior economic results and a solid automotive industry leadership role.
• CSR practices, especially obligations to science and engineering education and a climate which is environmentally sustainable, are very important to BMW.

References

• bmw. (2021). Electric Versus Hybrid. Retrieved from bmw: https://www.bmw.co.uk/en/topics/discover/electromobility/overview.html
• cdp. (2010, 2021). Case study: BMW Group’s strategic supplier engagement. Retrieved from https://www.cdp.net/en/articles/governments/case-study-bmw-groups-strategic-supplier-engagement
• Hirsh, E., Rodewig, L. F., Soliman, P., & Wheeler, S. (1999 ). Changing Channels In The Automotive Industry: The Future of Automotive Marketing and Distribution. strategy-business.
• ivypanda. (2020). BMW Group’s Pricing Strategy and Discrimination Research Paper. Retrieved from ivypanda: https://ivypanda.com/essays/bmw-groups-pricing-strategy-and-discrimination/
• Joseph, S. (2015). BMW plans to use more customer engagement metrics to steer content drive. Retrieved from thedrum: https://www.thedrum.com/news/2015/11/16/bmw-plans-use-more-customer-engagement-metrics-steer- content-drive