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How To Buy Luxury Cars In The United States

1069 Words5 Pages

The use of the luxury products in the world has intensified in the few decades by reason of the economic progress in the global scenes. The market for the luxury goods attributes to the social classes of the individuals in their diverse economies. For instance, the main of the luxury goods that show the social classes of the individuals in the society are the luxury and the sports cars. The purchase of the luxury vehicles depends on the economic position of the region, which also influences the purchasing power of the individuals. The UK is one of the countries that are renowned for making the luxury cars, but Germany tops the European region in the manufacture of the luxury cars. The demand for the luxury vehicles in the UK has risen rapidly, …show more content…

The level of income of the individuals influences the decision to buy luxury cars (Helander, et al. 2015). The individuals who receive high levels of income are more likely buy the luxury cars than the individuals who get lower incomes in the UK and the Asian region (Afroz, et al. 2015). The individuals with the high incomes have a high purchasing power in the market, and their financial might enables them to afford most products and the services in the market despite their prices. In the UK, the individuals have higher chances of buying the luxury cars as compared to the population in the Asian region (Zhan & He 2012). The individuals in the UK receive higher incomes as compared to the individuals in the Asian region. Additionally, the purchasing power of the UK individuals is higher as compared to the individuals in Asia (Chu, Kamal, & Kim 2013). Therefore, there are higher chances of the individuals in the UK to purchase the luxury cars as compared to the individuals in the Asian region. The marketers should consider the social-economic factors of the two regions to identify the marketing strategies to apply to the sale of the luxury

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