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BMW's Product life cycle.
Title: BMW's Product life cycle.
Category: Business & Economy / Marketing and Advertising
Details: Words: 661 | Pages: 2.8 (approximately 235 words/page)
BMW's Product life cycle.
any product has four stages of life cycle: introduction, growth, maturity, and decline. However, this concept does not quite fit with BMW's products. Jim McDowell, vice president of marketing at BMW says " If a product is declining, we would prefer to withdraw it from the market, as opposed to having a strategy for dealing with the declining product," In other words, Maturity and Decline stages do not usually exist in BMW's product life cycle. Before …showed first 75 words of 661 total…
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…showed last 75 words of 661 total…they can design a car to their own specifications, and get all the information about the car, from price to a specific feature. The average price of BMW cars is above K and customer who buy a BMW's car not only for safety and joy of driving, but also showing their social status. BMW's car mostly fall in luxuries category so its potential customers are more likely to be high-income, professional and high education level
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