- Strategic Marketing Alternatives:
- 1. Tapping new markets like China which are moving towards Greener alternatives
- 2. Tapping the European markets especially Spain and Italy
- 3. Use E-commerce and E-marketing in developing countries
- 1. Electronic Vehicles
- 2. Connectivity and technologically advancements in vehicles
- 3. Optimization of Supply chain activities
- Select and Recommend Best Alternative
- Evaluate and Control
Strategic Marketing Alternatives:
1. Tapping new markets like China which are moving towards Greener alternatives
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2. Tapping the European markets especially Spain and Italy
3. Use E-commerce and E-marketing in developing countries
Strategic Development Alternatives
1. Electronic Vehicles
Many developing countries are moving towards cleaner environment alternatives and hence will have an increased demand for electric vehicles in the near future. This creates an opportunity for BMW to promote sales in these new markets and invest in improvising vehicles to meet market needs.
2. Connectivity and technologically advancements in vehicles
3. Optimization of Supply chain activities
Select and Recommend Best Alternative
1. The best alternative for BMW is to expand its electronic vehicle sales to newer markets like China. The Chinese government has expressed the intention to expand its business in the electronic cars category however the country has a serious lack of supply of vehicles or technology in this segment (Axel Krieger, et. al., 2012). This involves a lesser time to market compared to other alternatives. This alternative offer two benefits, the first is that the company will effectively be able to deal with the stalling sales of their electronic vehicles. Secondly, BMW will venture into this new market which holds the potential for being a strategic development center in the future.
2. Tapping European markets involves lesser time for reaping returns and lower investments. The current scenario indicates a good potential market for the BMW group in these regions.
3. Investing in Electric vehicles is the third-best alternative as there is a steady increase in the demand for greener vehicles and BMW must be ahead of its competitors to gain early advantages.
4 & 5: Investing in e-marketing in developing economies and optimizing the supply chain activities in these areas go hand in hand. This will help BMW create new potential segments and increase profits.
6. Finally, the company must look at investing in R&D for technological advancements in automobiles for achieving a competitive advantage in the long term. This alternative will require higher investments and also will have a greater time to reap benefits.
Evaluate and Control
Short term procedure
1. Analyze the demand and supply gap in the market
2. Set targets for profits and investments
3. Periodically review the growth and sales trends against investment
4. Revise the strategy as required for any control
Long term procedure
1. Invest in research to identify the needs of the market
2. Periodically review the development
3. Analyze the extent to which the current developments satisfy the identified needs of the market
4. Revise strategy to accommodate changing market needs.
These procedures can be used to evaluate the above mentioned short and long term alternatives.
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