The marketing concept at BMW.

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Company Profile

BMW (Bayerische Motoren Werke Aktiengesellschaft) was founded in 1916 and has been publicly traded since 1969. The company produces, and markets, a varied range of higher end sporty cars and motorcycles. BMW has also manufactured the first passenger car running on hydrogen ready for common use, although the production figures are limited by the lack of a respective filling station net. In addition to cars and motorcycles, BMW operates an aircraft engine division under the brand name of Rolls Royce.

The company has worldwide subsidiaries and manufacturing plants in Germany, Austria, the UK, the USA, Mexico, Brazil, South Africa, Egypt, Thailand, Malaysia, Indonesia, the Philippines and Vietnam. The company also operates its own financing company, which offers financing for vehicles. Automobiles accounted for 78% of 2003 revenues; vehicle finance leasing 18%; motorcycles 3% and other 1%.

Introduction

The marketing concept is a management plan that views all marketing components as part of a total system that requires effective planning, organization, leadership and control. It is based on the importance of customers to a firm, and states that: All company policies and activities should be aimed at satisfying customer needs.

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