Segmenting and Targeting Markets

BMW uses three steps for targeting which are market segmentation, target choice and product positioning. When using segmentation, BMW finds information by looking at geographic, demographic, behavioural, socioeconomic, beneficial characteristics of society which helps them to target the market more effectively. The demographics of people who are able to purchase a BMW are men and women aged 30-50 years old. Behaviourally, these people have a successful image in their mind before buying a car. Geographically, the main markets for BMW where they are doing more than 65% of sales are Europe and North America because these areas are both heavily industrialized locations which means that residents arefinancially positioned to by their cars.