Drawing upon a variety of theoretical models and contemporary literature, perform a thorough analysis of MINI’s current marketing strategy
World’s top premium manufacturer in the automobile industry with record sales, and profits, MINI’s parent company BMW has always looked for future market segments with the redesigns to its product line. The innovative and fresh cars echo the foreseen changes in customers’ tastes and behaviour. Since every new product proves a treasure in product line of the company, BMW has made a go-getting risk of introducing MINI brand investing a great deal on broadening its single, narrow product line into a whole range of upscale cars. MINI put the BMW brand on sport-utility vehicles, convertibles, roadsters and a compact car. For the MINI brand, it just targets the premium segment and does not strive to compete in each segment of the auto industry. So the marketing success of MINI brand should be essentially critically examined from the perspective of success of segmentation strategy, followed by distribution and promotion.
Segmentation is the primary step in marketing strategy, where companies or brands have plan for the absorption of marketing power and strength on market segment to put on a competitive advantage in the segment.Usually companies have option to segment their marketing strategy either choosing geographic segmentation or demographic segmentation. Geography segmentation is conceivably the most familiar shape of market segmentation, where companies segment the market by means of concentrating a controlled geographic region.