BMW Brand Equity Analysis Report(BEAR) Research Paper

BMW Brand Equity Analysis Report(BEAR) - Research Paper Example The introduction provides a brief profile of the company. The report will also provide the current status of the brand as well as its investments in the business sector. Challenges that are being faced by the firm will be provided including recommendations necessary for implementation in order to realize success in the company. The recommendations should be taken into consideration if significant success and consistent quality are to be enhanced. Introduction BMW is short for Bavarian Motor Works which began in the early years of the twentieth century. It first began as an aircraft engine manufacturing in Germany. The success of its 6-cylinder BMW IIIa engine saw it become a publicly traded company (Easton, 2008, p. 1). The license to manufacture automobiles was obtained in the year 1928. Throughout the years, it has been able to gain reputation for innovation, as well as, quality in the automobile, aircraft engines and motorcycle fields. Its reputation has continued to grow owing to its award winning performance and impressive designs. BMW was listed by Forbes.com as the most reputable company in the world in the year 2012. The rankings were obviously based on such issues as people’s willingness to invest in the company, to buy, to work for and to recommend. Their perception of the products and the company were useful in the rankings. The BMW group sponsor is Bundesliga’s club and was also an official sponsor of the London 2012 Olympics. In 2010, it made a six-year sponsorship deal with USOC which is short for United States Olympic Committee. It has also sponsored many European golf events both in Italy and Germany. Status of the brand The brand has the right products that they have put in place, and they have continued to keep them competitive and attractive over the lifecycle. They have a lifecycle that follow a specific nomenclature. The nomenclature is applicable for both the automobiles and the motorcycle (Giuliani, 2012, p. 8). The brand ha s its presence in the global world and has the knowledge to delight customers around the globe. The company is looking into expanding globally to ensure that their innovation is present and known globally. This will also lead to an improvement in their reputation as well as in the loyalty of their customers. Their impressive and unique designs have ensured that the brand sticks to the minds of people. The brand is strong especially in innovation and efficiency of fuel. They have an aim of directing the future of the market using its initiatives. Their innovative initiatives have seen the brand grow stronger and have a competitive advantage over its competitors (Giuliani, 2012, p. 8). They have continued to provide luxury and unique brands that offer a different experience. This means that they have managed to further the joy and fascination of the brand. Their earnings and revenues have grown and have also broken all existing records. This is all in the back of dynamic flourishing o f financial services business and car sales volume growth. The earnings were strong and increased in a tremendous way. This is the reason why the brand is strong as opposed to the other car models. Investments in the business sector The brand is striving for a good balance of growth especially in Europe, Asia and America. This is essential especially if they want to achieve economic success in a volatile environment (Annual Report, 2011, p. 15). The group had discovered that there is future growth in such countries as Russia, Brazil,