Further competition is heating up in the sector with a host of new players coming in and other like Porsche, Bentley, Audi, and BMW all set to venture in the Indian markets.
In other markets, especially in South East Asia there are, of course, significant sales of luxury cars. However, these are limited to total volume either by the overall industry size or by local market conditions and preferences.
Accordingly, the luxury car market overall is currently undertaking a social change with luxury brands seeming less remote, less different, and less exclusive with the quality of life improving.
As a result, increasing competition between makes has intensified the importance of brand identity. As product standards continue to rise, the perceived image of a car make plays a key role in the buying decision. The premium marques such as BMW, Lexus, and Mercedes-Benz must develop attributes and values that reflect changing social values which influence buyers emotionally, in order to maintain their positions in different regions of the global market.
Very few authors and writings have investigated customer perceptions of luxury cars Rosecky and King, and much of this work is focused on consumer loyalty and brand switching Iacobucci, et al. The major research focus has been on low priced segment car ranges rather than the luxury segment in which choice between brand concept image and individual choice of potential buyers play a great role.
Research into purchasing patterns, however, indicates that it is not the objective features tangible or technical attributes themselves, but rather the subjective perception of these that determines consumer choice Bauer and Herrmann, ; McFadden, ; Urban and Hauser; There are differences between business-to-business fleet buyers and retail non-fleet or private car buyers.
This may explain why Table 1 shows that significantly more Lexus GS are purchased as fleet cars company cars than BMW i from to This is because retail customers are amateur purchasers who spend their own money for non-routine consumption.
This demonstrates that there exist differences in specificity among individual customers. If some buyers regard importance as meaning essential, then all requisite features of the cars, such as maximum speed, acceleration rate, horse power, and engine size become very important.
On the other hand, if buyers perceive importance as a special need, then some features may not be anticipated. For example, if the luxury car buyer is only interested in the country-of-origin of the brand German in this casethen the technical characteristics will be unimportant.
When customers seek to purchase a product, they pay attention to whether the product will satisfy basic needs and desires in their lives. Here, the fleet-car customers have the basic needs to choose a cost-effective carand desires to possess a luxury car.
However, most retail customers have a more preferable attitude towards BMW i. When having to select among alternatives, customers are interested in differences across brands in the same product segment and even models. Most luxury cars hold their marques as a flagship.
Most marques who usually have strong position of their car models on mid-size and large luxury saloon segments will stretch their brand downward.
Rover constantly emphasize their Rover Mini along with their mid-size range. On the other hand, car manufacturers who are not usually perceived to be in the luxury segment will attempt to stretch their brand upward. The strategy is the diversification into a sub-brand.
The most notable examples are the introductions of Lexus under Toyota and Infiniti under Nissan which have been successful globally, especially in the US. At this point, the essential features become unimportant because all brands are perceived to have these features to equivalent degrees.
Here, an attitude becomes an evaluating judgement desire or not desire based on prior or present experience such as previous satisfaction from dealers or products and services after sales and warrantydriving experience, and socio-economic status of customers.
This also depends largely on purchasing power of individual customers. The difference is that customers with low to medium income may still also anticipate the quality of smaller sized cars of manufacturers from the lower segments such as Fiat, Ford, Peugeot, and Vauxhall, as these cars are affordable to them.
In contrast, the better-off buyers will only appreciate expensive cars from luxury marques and may disregard inexpensive cars from any marques even from a luxury one e. Accordingly, if one is interested in predicting buyer behaviour of luxury automobiles, an assessment of potential buyer attitude towards the car is needed.
The following variables were identified: This may be due to differences described as demographic, geographic, psychographic, or lifestyle.Consumer Behaviour Regarding Two Wheeler (Automobiles Industry) - Download as PDF File .pdf), Text File .txt) or read online. Scribd is the world's largest social .
ZENITH International Journal of Multidisciplinary Research Vol.2 Issue 4, April , ISSN CONSUMER LIFESTYLE INFLUENCE OF CONSUMER BEHAVIOUR WITH REFERENCE TO AUTOMOBILE INDUSTRY IN CHENNAI MS. vetconnexx.comATHI* *Research . Nov 01, · News about consumer behavior.
Commentary and archival information about consumer behavior from The New York Times. Behavior of the customers can be studied by knowing their perceptions about the cars in the market and about the possible entrants in the market.
One such. The Buying Behavior of the customers can be studied by knowing their perceptions about the cars in the market and about the possible entrants in the market.
One such technique is by knowing and creating a personality for the brands. Consumer preference and Automobile Market in India Aman Saxena THE ENGEL-KOLLAT-BLACKWELL MODEL OF CONSUMER BEHAVIOUR more customized car suitable to consumer’s preference.
, Fig 5. Preference for driverless or automated automobiles.