Question

In: Operations Management

In 2000, BMW followed the time-honored practice of launching a new product – in this case,...

In 2000, BMW followed the time-honored practice of launching a new product – in this case, its new X5 sports utility model – with Super Bowl TV commercials a print advertising campaign. But to capture the interest of its Net-savvy target audience, it also kicked off a hightech online campaign. The objective was to build the brand among high-income, middle-aged males who usually buy high performance autos and younger. As the Digital Marketing Manager of BMW, you are required to present following information to the board of directors. Your essay must cover the following sub-sections: (this subject is about digital marketing)

2. Explain the benefits to BMW of creating virtual communities and how such communities can be used as part of relationship marketing.

Solutions

Expert Solution

Answer:

A virtual community is a social network of the individuals who connects with each other over a social media platform. The main advantage of the virtual community is that they are not constrained by the geographical barriers and political boundaries. These communities give a chance to the individuals or the subscribers to interact over the internet and to share their views and status with each other.

BMW, being the premium car manufacturer, can exploit the benefits of the virtual community by sharing the company offerings and it’s legendary with the individuals over the virtual community. All that BMW is required to do is; organise all of its prospective customers and high income, middle aged males over its individual page of social media platform. Company can then conduct promotional activities over this platform and can build a strong relationship with this community that could turn into the probable sales rep of the BMW as soon as the company becomes successful in positioning its brand image.

BMW can attract potential customers by sharing the testimonials over the virtual community platforms that could build a strong belief among the potential customers about the quality of its products.


Related Solutions

In 2000, BMW followed the time-honored practice of launching a new product – in this case,...
In 2000, BMW followed the time-honored practice of launching a new product – in this case, its new X5 sports utility model – with Super Bowl TV commercials a print advertising campaign. But to capture the interest of its Net-savvy target audience, it also kicked off a hightech online campaign. The objective was to build the brand among high-income, middle-aged males who usually buy high performance autos and younger. As the Digital Marketing Manager of BMW, you are required to...
In 2000, BMW followed the time-honored practice of launching a new product – in this case,...
In 2000, BMW followed the time-honored practice of launching a new product – in this case, its new X5 sports utility model – with Super Bowl TV commercials a print advertising campaign. But to capture the interest of its Net-savvy target audience, it also kicked off a hightech online campaign. The objective was to build the brand among high-income, middle-aged males who usually buy high performance autos and younger. As the Digital Marketing Manager of BMW, you are required to...
In 2000, BMW followed the time-honored practice of launching a new product – in this case,...
In 2000, BMW followed the time-honored practice of launching a new product – in this case, its new X5 sports utility model – with Super Bowl TV commercials a print advertising campaign. But to capture the interest of its Net-savvy target audience, it also kicked off a hightech online campaign. The objective was to build the brand among high-income, middle-aged males who usually buy high performance autos and younger. As the Digital Marketing Manager of BMW, you are required to...
What are some of the challenges associated with launching a new product?
What are some of the challenges associated with launching a new product?
A firm considers launching a new product in the market that is expected to generate the...
A firm considers launching a new product in the market that is expected to generate the following revenues: Year Revenues 1 £40,000 2 £30,000 3 £20,000 4 £10,000 Thereafter 0 Expenses are expected to be 40% of revenues, and working capital required in each year is expected to be 20% of revenues in the following year. The product requires an immediate investment of £45,000 in plant and equipment ii. If the plant and equipment are depreciated over 4 years to...
Your company is considering launching a new product. Designing the new product has already cost $500,000....
Your company is considering launching a new product. Designing the new product has already cost $500,000. The company estimates that it will sell 750,000 units per year of $3.2 per unit and variable non-labor costs will be $1 per unit. Production will end after year 3. New equipment costing $1 million will be required. The equipment will be depreciated to zero using the 7-year MACRS schedule. You plan to sell the equipment for book value at the end of year...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This investment will be depreciated straight line over 3 years to a value of zero, but when the project comes to an end in 3 years, the equipment, in fact, be sold for 100,000. b. ABC already spent 120,000 on market share research. The project will require on annual advertising cost of 60,000. c. ABC estimates that the first year unit of sale will be...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This investment will be depreciated straight line over 3 years to a value of zero, but when the project comes to an end in 3 years, the equipment, in fact, be sold for 100,000. b. ABC already spent 120,000 on market share research. The project will require on annual advertising cost of 60,000. c. ABC estimates that the first year unit of sale will be...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This...
ABC is considering launching a new product. a. The initial investment in equipment is 300,000. This investment will be depreciated straight line over 3 years to a value of zero, but when the project comes to an end in 3 years, the equipment, in fact, be sold for 100,000. b. ABC already spent 120,000 on market share research. The project will require on annual advertising cost of 60,000. c. ABC estimates that the first year unit of sale will be...
why it is important to do marjet research before launching the new product?
why it is important to do marjet research before launching the new product?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT