Exploring customer attitudes on BMW

Master's Thesis from the year 2004 in the subject Business economics - Offline Marketing and Online Marketing grade: A (1.0) Hawai'i Pacific University course: Professional Paper MBA language: English abstract: Building a brand is both an art and a science. It is the strategic mix of focus and risk that gives a brand its meaning in people's lives (Dolan 2003). Branding has been around for centuries as a means to distinguish the goods of one producer from those of another. Brand elements identify and differentiate the brand. However many practicing managers refer to a brand as more than that. They define a brand in terms of having actually created a certain amount of awareness and reputation in the marketplace which distinguishes a small brand from a big brand. Especially strong brands have a number of different types of intangible image associations that link customers emotionally to the brand. Prior research has explored differences in customer perception and evaluation of brands for example through investigating brand equity. More recent research has found out that customers differ not only in their perception of brands but also in how they relate to brands. This suggests that people sometimes even form a relationship with a specific brand (Aggarwal 2004). Branding and brand-based differentiation are powerful means for creating and sustaining competitive advantage (Aggarwal 2004). Highly competitive markets like the automotive market make powerful strong brands essential to accomplishing growth. According to Agarwal Dahlhoff & Rao (2004) companies create brand equity by delivering quality products and by creating strong unique and favorable brand associations. Customer loyalty larger margins brand extension opportunities enhanced perceptions of product performance and increased marketing effectiveness and efficiency among other things are possible benefits of building up brand equity. This research paper will look at the brand BMW. BMW whi