INTRODUCTION:- A Luxury car is a styled‚ luxurious automobile intended for comfort and satisfaction of its owner or driver‚ sacrificing passenger space‚ cargo capacity and other practical concerns for the sake of style. The luxury cars are very expensive and its price range is above Rs 20 lakhs. Hence these cars are affordable and are preferred by high income group. A Luxury car segment is one which is packed with extra dose of luxury features‚ designed with perfection and beauty for a guaranteed
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Industry Overview A luxury car is any car costing greater than $30‚000. Companies such as BMW‚ Mercedes‚ Lexus‚ Cadillac‚ and Lincoln sell high-end vehicles. The luxury car industry accounts for about fifteen percent of the United States car market. Not only do luxury car dealers sell new high-end vehicles‚ but they also sell used vehicles. Most luxury car dealerships provide excellent customer relations and take pride in their service management and repair services. The luxury car industry can be divided
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German Luxury-Car Makers Look Beyond Home Market BMW to expand Plant in U.S.‚ Daimler Will Boost Investment in China Venture By William Boston and Neal E. Boudette Updated March 28‚ 2014 2:56 p.m. ET A new BMW X4 is unveiled last Friday at the BMW manufacturing plant in Greer‚ South Carolina as the Germany luxury auto maker announced a $1 billion expansion for the plant. Associated Press German luxury car manufacturers BMW AG and Daimler AG have unveiled plans to spend billions on new car factories
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COMPREHENSIVE CASES Case 1 Running the Numbers: Does It Pay? (Download the data sets for this case from www.cengage. com/marketing/zikmund or request them from your instructor.) Dr. William Ray‚ a research consultant‚ has received a government grant of $75‚000 to fund research examining how aspects of a student’s college experiences relate to his or her job performance. Senator B. I. G. Shot is being lobbied by his constituents that employers are discriminating against people who do not like
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Consumer Buying Decision Process: Mobile Phone CHAPTER 1 INTRODUCTION Page 1 of 15 Consumer Buying Decision Process: Mobile Phone 1.1 Origin of the report: As the students of MBA program in East West University is assigned to prepare a term paper on “Consumer buying process model” and it is based on my own buying experience by my honorable course instructor “ Professor‚ Dr. Humayun Kabir Chowdhury” Which is a partial requirement of the course “Marketing Management (MKT 501)”.
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EXECUTIVE SUMMARY Luxury cars are a very small part of the pie in the total Indian automobile markets. However‚ they are a potent weapon for an automobile company to have in its arsenal. When effectively deployed by focused positioning‚ winning strategies aimed at the right target‚ they have the ability to produce “super-normal” contribution margins and wealth for the company. Dominated by Mercedes Benz till a major part of the early 2000s‚ the luxury car market started picking up momentum fueled
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Chapter2 The Indian Luxury Consumer: Rapidly maturing and looking for more Any study of the luxury market needs to conclusively address core questions around the luxury customer - Who‚ What and Where. To fully understand answers to these questions‚ we interviewed existing and prospective customers across various locations‚ income and age groups. We also interviewed industry leaders across all luxury categories on the Indian consumer and the changes that they have observed over the last few years
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Internal factors influencing consumers’ choice of cars In each and every market‚ consumers are guided by a multiplicity of factors that define the likely decisions that a consumer is likely to make in regards to the purchase of a particular product or service. It s the same when in comes to car market‚ consumers are influenced by several internal and external factors to settle on a car choice. The internal factors are those factors that are personal to the consumer and have a very minimal connection
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factors mentioned previously‚ car firms must heavily invest in research and development. New comers to the industry may find it difficult to compete with the investments made by existing large firms. • It is anticipated that the ways of being able to over come the barriers to entry in this industry would be to enter the market with vehicles that consume other forms of energy and vehicles that are environmentally friendly. • As mentioned previously‚ Chinese cars are entering the industry. It
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Consumer choice: Do I really want this? Can I afford it? Is there something better? Price: How much is it?This is usually one of the first things you want to know. If the price of a good is more than you can afford‚ you will probably not buy it. Consumers want the best value for their money: that is‚ they want to pay the lowest price for the best quality. Price is one of the main factors affecting consumer decisions. Age: As a baby‚ you most probably wanted a toy or rattle. Now you are a teenager
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