Bmw Films Essay Example for Free

Bmw Films Essay The primary issue faced by Jim McDowell is what to do for his next marketing campaign. He will need to decide what direction BMW will take in order to stay current in the target market and position the brand as the leader in the luxury car industry. A sub issue that Jim is facing is that in order for BMW to stand out compare to the competition, it must be at the forefront of the marketing trend. There is always pressure on innovative marketing campaigns as a bad campaign can lead to severe damage in the company image and reputation. Decision Alternatives. There are a number of alternatives that Jim faces when deciding in what direction to move with the BMW marketing campaign. Develop more short films and build a big series out of it. Develop a full length movie for the theatres Do nothing to the existing campaign and move on to develop a new campaign To continue to use the existing BMW films plus developing a new campaign Creating new films on the heels of the original films plus developing a new campaign Develop a full length movie plus developing a new campaign In order to decide the best alternative it is important to look at some key decision criteria. In this case the important factors would be: delivery time, risk, cost, competitive advantage, ease of implementation. Analysis of Industry In the luxury car segment, BMW and Mercedes have stand strong against the strong competition from Japan like Acura, Lexus, Infiniti. In year 2001, BMW is second best luxury car seller, just behind Lexus amount the other ten major luxury brands. However, BMW only ranked 8th in media expenditures, which again proved the great success on their innovative campaign. In terms of customer loyalty, luxury brand customers do tend to stay among the top brands and are very loyal. There are always customers who switch from BMW to Mercedes or the other way around. Since BMW has the competitive advantage of a younger clientele, it is very important for BMW to create marketing campaign to young adult so they can look forward to own a BMW when they can afford one. Analysis of Company Evaluation of Alternatives Alternative #1, 2, and 3 should only be considered as a short term alternative that can achieve quick beneficial results with no long term prospects because all the alternatives evolve around the same film concept, which eventually will wear out and target audience will not be interested in it anymore. Alternative #4 takes into account with BMW’s long term goal, to be the leader in the industry with innovative campaigns. However, developing a new concept takes time and research before implementation, therefore some immediate alternatives needs to be done before the new campaign kicks in. Alternative #5, 6, or 7 will achieve that goal. Alternative #5 Introduce the BMW films to new markets that may have missed the online films during the campaign period will enable BMW to entice an entirely new segment. By showing the films throughother mediums, BMW will be able to reach a wider audience plus raising the brand awareness. Since this campaign is so successful and unique, BMW can also produce DVD and make itas a collectible item. This alternative is easy to implement, low cost to run, low risk as the campaign is already running with huge success with good reputation. However, other companies may copy the idea and there is a chance that BMW will lose its competitive advantage as the films are getting overly exposed to the original audiences that BMW targeted during the initial campaign period. Therefore, developing another campaign while this is running is necessary in order to achieve BMW’s long term marketing goal. Alternative #6 The other option would be to follow up with another series of films on the heels of the original films. BMW would want to keep the number of films low to try and blend them into the successful original films and not to market them as another series of short films. This alternative will require some time to prepare, and the cost will be much higher in comparison to Alternative #5, which will make it harder as BMW will need more resources in creating a new campaign at the same time. It is easy to implement as all the ground works are in place from the previous films. However, this alternative will have a higher risk than other options due to the high anticipation of BMW to produce high quality films. If any of the film receives negative feedbacks, BMW will risk losing out on the campaign inwhole, plus the reputation of the series. BMW will still keep its competitive advantage with this alternative as they are still the one who leads the marketing trend. Alternative #7 Creating a full length movie can be the next big campaignfor BMW. It is a new approach and will make the brand stand out of all others. The target audience is also much wider in comparison to the initial campaign. It will take a long time to implement, and not as easy as short films because a full length film is more complicated in terms of plot and production. The cost will also go veryhigh that may use up all of BMW’s resources in marketing. It is a two sided sword because if BMW is not placed enough in the film there is no difference in doing product placement in the James Bond movie series; meanwhile if BMW is overly exposed in the film it may create negative feedbacks as it will look like an hour long commercial. The interest level of audience will also be much lower in watching a long commercial than a short film. Decision Criteria Chart Here is the chart for the best 3 alternatives: (X? low score, XXX? high score) Recommendation Based on the analysis above it is evident that the appropriate course of action is to utilize the existing movies in the short term while developing a new full scale marketing plan in the background. By utilizing the existing films BMW will be able to quickly get to market films that they have already completed. They will ride the coat tails of the internet marketing, however by introducing the films to another target markets, BMW will hopefully build on the impact created by the original films. There is relatively low risk to this model because BMW has already invested in the films and by using different mediums to convey their message it is likely that an entirely new market segment will appreciate the films as the original audience did. Although the potential payback may not as great as some off the wall innovative idea, the concept behind releasing the films to a different audience should allow more time and resources to develop another new campaign. If there are enough resources, BMW can also consider creating 1 or 2 more films to avoid losing the competitive advantage toward the target audience.