Published on : Aug 04, 2015
BMW recently launched a novel strategy for its Chinese market that would soon be resting on the principle of innovation which will be the main core concept for the company. This strategy, known as “Innovation powered by joy” primarily aims towards innovation and at the same time keeping up with the principles of “future, young and China”.
Innovation is taken as the cornerstone for BMW so that there is greater focus towards creating a success story for the century. Innovation holds a very important place since it indicates that the company is open towards taking a few proactive steps and also doing things in a different manner and also move ahead swiftly in the global market. The main idea is to be ahead in the market than the competitors.
BMW operates on the principle of predicting a bright future by creating the same. Over the past couple of years, the group of experts at BMW have been working relentlessly towards conducting research which will examine and test the BMW brand and also the steps that the company needs to take to be successful in the future. The research team asked questions to greater than 3000 users of BMW cars, experts, and even a few industry specialists.
This research was conducted over a period of fifteen months and the conclusions were as follows: there were certain prominent changes in the way in which some of the high end customers thought which in a way enabled the research team to give an a brand new image to the brand by making it more appealing to the masses. According to the latest findings, the mainstream consumers today are those that belong to the 1980s and 1990s younger generation and BMW has begun covering and taking into account the younger segment.