ipl-logo

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

Show More
Related

Tressie Mcmillan Cottom's The Logic Of Stupid Poor People

537 Words | 3 Pages

One example, is a time when I drove through one of the rougher neighborhoods of inner city Houston. As I peered outside my truck’s window I noticed quite a few luxurious cars in front of the shanty and dysfunctional houses in the neighborhood. Those families with those exquisite vehicles could easily sell their car, SUV, truck, etc.

Read More

Great Gatsby Rhetorical Analysis

1021 Words | 5 Pages

By the 1920’s, cars had become a signature in celebrity homes, and was considered a luxury to have. Anyone who had money or wanted to look like they had money, also had a car. In the early years of the automotive industry, when not too many people were interested, appealing to anyone was the goal, trying to increase demand. The automotive industry quickly realized that mostly richer people purchased cars. So how could they appeal to other groups?

Read More

1920's Inventions

807 Words | 4 Pages

Thus, with cars being mass produced, manufacturing costs

Read More

External Factors Of Chick-Fil-A

1130 Words | 5 Pages

Often, individuals with higher income have flexible regarding purchases considering that they have enough financial power to use on basic needs and to save. As a result, such individuals are expected to buy the company products in bulk or more frequently irrespective of the price of the products. On the other side, low-income earners are not expected to purchase the company products in bulk or frequently. Nevertheless, consumer income is widely affected by the rate of inflation which determines the amount of money they receive as salaries and wages as well as the prices of the company’s product. Inflation is widely defined as the continued increase in prices of products and consumers.

Read More

Discuss The Advantages And Disadvantages Of Globalisation In The Car Industry

892 Words | 4 Pages

In 1886 the first petrol powered automobile the Benz patent Motorwagen was invented by Karl Benz. It was the first time in history that an automobile (car) was produced in production. It was the beginning of the car industry, what today has become one of the world’s most important economic sectors by revenue. Although the car industry has always been a huge Market it has mostly be regional, the past 30 years have enabled the car market to gain growth through globalisation. These factors were a result of a market that started to transform globally: Foreign Direct Investment or (FDI) which is an investment made by a company based in one country, into a company based in a another country.

Read More

Demographic Analysis Of Apple

1564 Words | 7 Pages

During times of prosperity, consumers with higher income are willing to buy apple products. However, during a recession period, consumers with lower income are no willing to buy goods and services because of higher rates of unemployment and

Read More

Analysis Of The Buyer Decision Process Of Porsche

1875 Words | 8 Pages

Porsche 1. Analysis of the buyer decision process of a traditional Porsche customer. There are five stages in buying decision process which are shown through following diagram: Porsche is a reputed company and it is well known to customers. In case of difficult situation of purchase, customer can follow all the five stages such as purchasing of durable goods of new brand.

Read More

BMW: Demographic And Market Segmentation Of BMW

1612 Words | 7 Pages

Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is "Fraud am Fahren.” In addition to cars and motorcycle, BMW also operates an aircraft engine under the brand name which is known as Rolls Royce.

Read More

Fendi Competitive Advantage

1100 Words | 5 Pages

The brands set different prices of its product base on design, size and heritage. This is due to brand loyalty that each brand possesses by each luxury group. Particularly put extensive brand portfolio to cover different customer segments. As such, the brand is niche in the market leading to rivalry of the competitors in this industry to

Read More

Business Analysis: The Pestel Analysis Of Mercedes Benz

1306 Words | 6 Pages

Exchange rate between different countries differs on their economy. 3. Social factors Social factor is related to growth of population. Increase in population growth creates demand in automobile industry and the sale of Mercedes Benz will increase.

Read More

Rolls Royce Pest Analysis

1402 Words | 6 Pages

Another socio-cultural factor is the fear of terrorist attacks. Example would be the recent ISIS attacks in France, Russia etc. With terrorist bombing, airline companies are affected by the number of passengers traveling overseas. This could cause a drastic change to Rolls Royce’s income. Urban countries that are affected by overcrowding of air-craft are asking for larger aircraft as larger aircrafts are more powerful.

Read More

Marketing Segmentation Of Mercedes Benz

916 Words | 4 Pages

The customers of Mercedes Benz look for products that have certain benefits that hold value for them. Therefore, in terms of benefits sought, they seek for high-end integrated technology and functioning of the car, along with consistency in performance and most importantly they will look to purchase cars that will offer high sustainability and reliability. The Mercedes is purchased among customers that heavily use the product on a daily basis. As mentioned in the demographics segmentation section that people who purchase these cars are in the high income class group, which means that these customers will regularly use a mode of transportation to travel to workplaces.

Read More

Japanese Cars And Usa Case Study

795 Words | 4 Pages

Question #2 Japanese Cars and USA Both Japanese and American workers can make 4 cars a year. The Japanese workers can make 5 tons of grain per years, an American will produce 10 tons of grain per year. We are going to make it easy and have an assumption that there are 100 million workers for each country. a) Make a table analogous to the table in Figure 1.   Production per worker per year: Total production per year for 100 million workers:

Read More

Annotated Bibliography On Car Loans

187 Words | 1 Pages

Annotated Bibliography #1 There are good and bad loans however, car loans are something you should avoid. Consumer Financial Protection Bureau (CFPB) is an agency that helps make sure that financial companies treat you fairly. For 5 years CFPB has helped 27 million consumers with illegal practices involving money. They helped by providing the consumers with a compensation of $11.7 billion. More services with is needed because people with low credit scores are purchasing cars which causes these people to have loans.

Read More

BMW: Marketing Strategy And Segmentation Of BMW

1649 Words | 7 Pages

For example, people who have a successful career and wants a modern car and for the most of the individual that purchase a BMW for its distinctive reasons such as quality and value for

Read More

More about How To Buy Luxury Cars In The United States

Related Topics

Open Document