BMW Brand Audit

Document Type:Business Plan

Subject Area:Management

Document 1

It's the outcome of a strategic audit that allows management to adjust the operations of the company to allow it to maximize progress towards the goals of the company. The strategic audit assesses the business strategy, how best it suits the company and suitable ways of executing the strategy of the company. It is necessary to conduct a strategy audit more regularly for the BMW since it boosts the success of the business by taking into account the market conditions and changes. The strategic audit helps in evaluating the current strategy of the business by looking at how the business views itself in the marketplace and how far it is planning to go. A SWOT analysis will be used to determine the strengths, weaknesses, opportunities, and threats that may arise in the business.

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In implementing the proposals, it is advisable to create a work plan on how best the changes needed to be tackled. It is necessary for BMW to conduct frequent strategy audits to help the company maintain shifts in the environment and that it remains relevant and on the correct path. Marketing audit A marketing audit is a full and thorough review of BMW's marketing plan, the objectives of the company, the strategies the company have in mind and the best ways of executing the plans. BMW in its marketing tends to target wealthy customers since it is them who can afford the machine since they have positioned themselves as a highly advanced, quality and classic automobile. The main aim of the marketing audit is to check what is working for the good of the company in terms of marketing and what is not working so that improvements can be made.

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By determination of strengths and weaknesses of a competition, an improvement can be done so that the business goes on top. Marketing audit will help BMW in gaining exposure to new and better ideas and other significant strategies since an extensive research is done for the business and its external environment. In the process of research, other best marketing ways done by competitors is realized and when that can be modified to fit the needs of the company. Design audit A design audit is an analysis of all optical elements that are used by a company. This also covers the messaging of the company such as its slogan and other branding strategies used by the company. Communication audit A communication audit is an in-depth evaluation of a company's ability to send, receive and give feedback to its audiences or clients.

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It is performed to check on how best the company affects its external and internal communication skills. It helps in uncovering the weaknesses or strengths of the management of the company, employees, investors, customers other stakeholders with the main aim of improving future communications by filling in the gaps that exist. The corresponding communication plan is to achieve well-laid communication objectives. Failure of a communication with the company or poor communication delivery may take a good company on its knees. Image audit, therefore, helps in determining the weak points of BMW and advising on the best ways of maintaining the image so that customers do not shift loyalty. The image of a company plays an important role in its development. When customers recognize your good image on how best you deal with clients, then that becomes a plus in the market sales.

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This audit tries to determine the weak points of the company's image and advice the management accordingly on how to change such narratives to be able to fit the customer need. Value audit Any given company has the sole mandate of getting profit at the end of its operation. It helps in determining what is working for your competitors and what best ways BMW can employ such tactics to work for them. BMW has overtime experienced tough competition in the market from brands such as Audi which has shinned in the market because of its new R8 and TT models, the Mercedes-Benz which is also relevant in the market and which has received praises because of its AMG GT and C63 AMG.

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