Table of contents Table of contents 2 1. Question 1 3 1.1. Introduction. 3 1.2. Social Factors. 4 1.2.1. Reference Groups. 4 1.2.2. The family 5 1.2.3. Roles and Status 6 1.3. Personal Factors 6 1.3.1. Age and Stage in life cycle 6 1.3.2. Occupation and Economic Circumstances 7 1.3.3. Lifestyle 8 Greater Resources 9 Fewer Resources 9 1.3.4. Personality and Self-Concept 10 1.4. Psychological Factors 11 1.4.1. Motivation 11 1.4.2. Perception 12 1.4.3. Learning 12 1.4.4. Beliefs and Attitudes 13 Attitudes 13 Beliefs 13 1.5. Buying Roles 13 1.6. Conclusion 15 2. Question 2 16 2.1. Introduction. 16 2.2. Product life cycle stages 16 2.3. Communication Strategies 19 2.3.1. Advertising 21 2.3.2. Sales Promotion 21 2.3.3. Direct Marketing 22 2.3.4. Online Marketing 23 2.4. Conclusion 24 1. Question 1 1.1. Introduction.
Based on a market analysis done in 1990 (case study) a majority of BMW buyers are English speaking (59%), Males (85 %), married (73%). The majority of the above are Manager/Executives (32%) and play golf (26%). The BMW driver falls under high-income group and in traditional social classes he/she falls under upper class. These are important attributes that will have to be taken into account when planning the BMW 3 series communication plan to turn the prospects into consumers.
There are also three factors that affect the buyer behaviour that a marketer must take cognisance of; they are social, personal and psychological. It will therefore be highlighted how these factors affect the consumer behaviour and in turn how the consumer behaviour affect the buying decisions. For example, according to Kotler (2000), social classes have a strong influence on preferences in products like cars, therefore in selecting the target market for the 3 series, these social factors will have to be taken into account.
An important factor in the BMW buyer profile is also how the individual in the target market relates to self and others, as the car is no longer just a status symbol, it has increasingly become a means of expressing personality. BMW can therefore take the opportunity to assist those individuals to express their individuality through the BMW 3 series and therefore meeting the consumer's psychological needs. In Generation Segmentation, these individualists will be found mostly among Generation X (individuals born between 1965 and 1976) (Kotler 2000).
The various factors that affect the consumer behaviour are social, personal, psychological and buying roles.
1.2. Social Factors.
The success of the 3 series in the chosen market segment is largely influenced by social factors that affect the consumer behaviour. From the product design to the marketing mix adopted for the BMW 3 series, the social factors that influence the...