Essay On Product Life Cycle
BMW is a German automotive company which centers its new manufactured automobile release and development on a seven-year product cycle. Maximizing the introduction and growth stage of the product life cycle, BMW has strategically employed and invested over time all features and technological offering of their products, divided into specific series models.
The company optimizes the concept of product life cycle with sheer capability to compete and keep their brand to be one of the most recognizably premium and prestigious trade names around the world. Marketing Case Study: BMW— “Newness” and the Product Life Cycle BMW: Short Company History and Product Offerings In the ever competitive automobile industry, BMW lastingly stands out as one of the great premium brands of luxury automobile vehicles, operating under keenly sharp commerce trade techniques and critically innovative marketing strategies.
The history of the company can trace its roots of innovation and technological progression outside the automobile and motorcycle industry: “BMW started in 1916 as manufacturer of airplane engines” (Author’s Last Name, Year, p. 304). Through the years, BMW has tactically broadened their automobile line in terms of a series offering that would be most identifiably linked with the company’s exhibit of fine technological prowess.
The array selection of product series gives chance for better positioning against a certain competing brand of which the company can even feasibly and effectively serve a particular opportunity in a market: “BMW recently introduced its 1 series—a compact car designed to compete with the Volkswagen Golf in Europe and the Rabbit in the U. S. —to attract a new younger audience” (Author’s Last Name, Year, p. 304). Also, owning other well-esteemed brands such as Rolls-Royce and the MINI, BMW has put its strong stamp in the auto-industry as a brand simply and truly separate from the rest.
