Slide 2:
In business world, organizations work very hard to create awareness of the products they sell while also working on the reputation of the business, which is what is known as Brand. Awareness and reputation building that is planned properly differentiates small brands from big brands (Marion 1). Those companies that have attained strong brand usually have intangible images associations that can connect customers emotionally to the built brand. A good example of a well-established brand is Bayerische Motoren Werke commonly known as BMW. This paper uses customer-based brand equity model to describe BMW brand development stages.
Slide 3:
In a four-step pyramid brand stages, the bottom line has brand resilience, which is the identity stage. BMW has high awareness amongst its customers and customers will always click whenever it is mentioned (Erin 1). It is known as the best in class, as a German marvel, as a brand of excellent finish. Most of the customers understands the brand and would always want to relate with BMW even when they are not able to buy one of the product.
Slide 4:
Second stage of brand development looks into performance and imagery that the brand has in customer’s perspective (Peter 1). When compared to other brands in the industry, BMW has a high exceptional customer service, less maintenance, excellent on-road performance, has a good resale value, and is less polluting. BMW as a brand exhibits a high level of performance. On the imagery, BMW has hard historical and a very classic image from as early as 1916. Its imagery is being associated with rallies and racing events.
Slide 5:
In the third stage of BMW brand building, interest is placed on the customer feelings and judgment about BMW as a brand. BMW has social approval and gains self-respect from the customer, and they look at the BMW brand as one that is very much concerned about the environment. BMW enjoys much of positive feelings from customers, and it is highly adored in almost every class. Having been producing automobiles that are less pollutant has won it much respect from a large group of customers (Erin 1). BMW is also being judged by the customers as providers of excellent cars, simple cars to operate, very innovative and well design and high quality. The brand of BMW is seen as the most innovative and world class among most of the customers. The cars that are produced by BMW are usually very easy to operate and are of much more class compared to other competitors.
Slide 6:
The top most part of the pyramid used in developing brand looks at resonance, which finds out the relationship the customers from with the brand. Most of the BMW customers look at BMW products as of top mark quality and much more comfortable (Jen, 1). The customers resonate so well with the brand as it gives more comfort and beats the rest of brands on quality. The level of customer loyalty that is shown towards BMW products and as a brand is very high.
Slide 7:
Repeat purchase exhibits the allegiance of the most of clientele towards BMW brand. So many customers tend to get satisfied by the quality and comfort that they get from the BMW brand products and do not feel like changing to any other product (Abby 1). So many customers would keep on buying BMW products and would always want to by the most current models for every new arrival. From the brand development stages, it can be seen that BMW brand is one of the strongest brand in the market.
