The success of every company is to be found in how well the management deals with its products and services. This is often the responsibility of total quality management, which ensures that the products and services of a company are being improved continually to fit the changing market conditions. This may include the introduction of a new product into the market or modifying the existing ones. This is the case with the BMW car, which improved a previous model, mostly used in racing cars, the classic mini, and the new mini to the latest mini cooper. Thus, the company has to look at how this transition is going to impact the public and how well it can be done. The aim of this paper is to analyses the case study on BMW Mini Cooper.
The BMW company's current business state is with the introduction of the new MINI Cooper. The company is expecting to launch this new product in a way that is going to capture the public and, therefore, increase the sales of the company. The new model has several unique features from the previous models in that it provides more space to those who use it. The vehicle, unlike the earlier models, is expected to also be economically feasible to most of the people and, therefore, can be afforded. The company is looking forward to hiring a new advertising agency that is going to spearhead this marketing of this vehicle. The aim is to make the public aware of it then launch the car for people to buy. It is anticipated that the company is going to have increased sales from the new vehicle and thus its profits would increase also.
The main issue in the case study of BMW MINI Cooper is the advertising decision for the new vehicle. The company is opinionated that it should adopt a new advertising strategy, unlike the previous ones who used print media. This, however, would cost the company since advertising expenses have been increasing to steep height. The decision is to be made based on the screening of various advertising agencies and picking the affordable one, which can administer the requirements of the company. This would, however, take some time as it requires several steps that need to be made.
The SWOT analysis of BMW MINI Cooper follows its strengths, weaknesses, opportunities, and threats. The strengths and weaknesses are from the internal environment, but the opportunities and the risks are from the external environment. Some of the advantages include the iconic brand and design that the company has worldwide. The company has established its niche, which makes it hard for other manufacturers to venture into. The company also has multiple customizations, which gives it an added advantage. The weaknesses of the company are that it has a limited global reach for specifically MINI. There is also an extreme competition in the compact car segment, which makes it difficult for the company as its competitors are outdoing it.
Some of the opportunities that the company has would include educating the public on the importance of having the MINI. This can be done by highlighting the fact that the MINI is diverse in its design, function, and personality and can be owned by anyone. This is what the new advertising team should put into consideration. The threats of the company are that the design of the new model would give the impression that it is only meant for a particular group in society. The current branding and positioning of the MINI would also stereotype those who also have it and make them lower the image of the brand in their minds, thus affecting the sales output of the company.
The company is dealing with the issue of high advertising costs by screening several advertising agencies to choose the cheapest one and the most convenient. This is to be done in several steps that the company is going to put in place, especially when selecting the new advertising team. The previous techniques, which included the print medial, may not be instrumental. The process would consist of coming up with several advertising agencies which are interested, then asking them to give their presentations. They would then be shortlisted and screened through various bases, according to the states of screening (BMW-MINI cooper, 2017). The company is to use cost and benefit analysis to select the new advertising agency, a process that should be done correctly.
It is recommended that the BMW MINI cooper should look more into the specific need of the customers and tailor their products according to their needs and financial ability. Being a trusted brand, everyone would want to associate with it. However, this is hindered by the fact that the products are too expensive and have created an image in most people that it is only for a small group. Therefore, the company should work towards undoing such stereotypes.
In conclusion, the BMW-MINI cooper is one of the most successful companies, introducing new models into the market. The struggle the company has dealt with the advertising department, which has to ensure customers get to by the product. The challenge lies in the company being seen as a brand for a particular group and, therefore, has a limited market for its products.
BMW-MINI cooper. (2017). BMW-MINI cooper Case Study
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