Thursday, June 20, 2019

A Critical Asessment of the Boston Matrix and its practical Essay

A Critical Asessment of the Boston ground substance and its practical application in BMW - Essay ExampleFor the critical evaluation of the strategic competitive strengths, weaknesses, opportunities and threats that face the company, the most recent and reliable management and marketing literature will be used in order to provide an overview of the operations of BMW. BMW is a global leader in the luxury elevator car market segment and has attained uplifted brand recognition and client loyalty due to its superior manufacturing technology that aims at satisfying the premium market with stylish, quality and comfortable cars. The report has determine that the concept of marketing has shifted from the time the BCG model was developed to the current marketing concept that is characterized by customer relationships management and societal marketing. The advancement in car manufacturing technologies, the shifts in consumer preferences and decline in natural resources has provided companie s with opportunities for product differentiation, formation of strategic relationships and re-organization of the product portfolio. The strategic audit has revealed that BMW is endowed with high technology, high financial resources and customer loyalty and thus it is possible to overcome the market challenges. The automobile industry is faced with scarcity of raw materials, increased global warming awareness, shifts in consumer preferences towards eco-friendly cars, ... increase in global warming.5 4.2. Intense competition in the industry..5 4.3. Possible product recalls and lawsuits.6 4.4. Scarcity of raw materials .6 5.0. Critical evaluation of the Boston Matrix6 5.1. Cash cows7 5.2. Stars ...7 5.3. Question marks/problem child8 5.4. Dogs8 5.5. Traditional views of marketing ...9 5.5. Positive office of BCG in modern marketing concept..9 5.6. Negative perception of BCG in modern marketing concept.11 6.0.Recommendations for the next three years.11 6.1. Formation of strategic pa rtnerships.11 6.2. Product differentiation 12 6.3. Maintain customer relationships...12 7.0. Conclusion12 8.0.Bibliography..14

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