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manufactured by the German company, Bayerische Motoren Werke AG, BMW stands for both performance and luxury. The company was founded in 1916 as an aircraft-engine manufacturer and produced engines during World War I and World War II.
BMW’s growth exploded in the 1980s and 1990s, when it successfully targeted the growing market of baby boomers and professional yuppies who put work first and wanted a car that spoke of their success.
BMW was acquisition of Rover Group in 1994, acquisition of Rolls Royce in 2003. In 2009, 1.3 million cars sold and 96,230 employees. Revenue was 76 Billion dollars.
The company took several steps to grow its product line by targeting specific market segments, which resulted in unique premium-priced cars such as SUVs, convertibles, roadsters, and less expensive compact cars, the 1 Series. In addition, BMW redesigned its 3, 5, and 7 Series cars, making them unique in appearance yet remaining exceptional in performance. BMW’s full range of cars now include the 1 Series, 3 Series, 5 Series, 6 Series, 7 Series, X3 SUV,X5 SUV, X6 SUV, Z4 (Roadster), and M. BMW successfully launched the X5 by targeting “upper liberals” who achieved success in the 1990s and had gone on to have children and take up extracurricular activities such as biking, golf, and skiing. BMW created the lower-priced 1 Series and X3 SUV to target the “modern mainstream,” a group who are also family-focused and active but had previously avoided
BMWs because of the premium cost. The 1 Series reached this group with its lower price point, sporty design, and aspiration to own a luxury brand. The X3 also hit home with its smaller, less expensive SUV design. BMW uses a wide range of advertising tactics to reach each of its target markets but has kept the tagline “The Ultimate Driving Machine” for over 35 years. During that time, U.S. sales of BMW vehicles have grown from 15,000 units in 1974 to approximately 250,000 in 2009.
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