Consumer Car Purchase Decision Factors

This assignment focuses on understanding consumer decision-making processes when purchasing cars. It examines the factors that influence car buying choices, including price, mileage, appearance, maintenance costs, and brand loyalty. The research aims to identify key attributes consumers prioritize and explore the impact of brand preference on purchase decisions.

BUSINESS RESEARCH

TABLE OF CONTENTS
INTRODUCTION.................................................................................................................................1
Discussion of the target market alternatives for Zest sedan.........................................................1
Discussion on Alternatives ways of defining population for the research study.........................2
Discussion on alternative ways of defining sampling frame for the research.............................2
Discussion on alternative ways to define sampling approach for the study................................3
Why the approach expressed in the earlier section will deliver effective research outcome.......4
Conclusion...................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
In the modern era, the automotive industry has become highly competitive, and it is no
longer easy for companies to sustain in the market place. The intense competition has forced
businesses to carry out changes in products, services, and overall strategies at regular intervals to
attract new customers and retain the old ones. Organizations are required to conduct market
research at regular intervals to identify the changing demand of customers and market trends.
The study of market and target customers also assists companies in the identification of the gap
in the existing market and development of products according to the same.
The present study is based on Tata Zest which is a compact sedan launched by Tata
Motors. The new product is helping the organization to enter the petrol segment of automotive
industry which is still not explored by Tata Motors (Motors, 2017). The report outlines various
types of target market alternative present in front of the company with regards to its new product
which is Zest. The discussion regarding alternative ways of defining population and sampling
frame is also mentioned in this study.
Discussion of the target market alternatives for Zest sedan
In the present scenario, defining the target market and its alternatives is essential for
growth and success of businesses. In simpler terms, target market can be defined as the set of
potential customers with similar buying characteristics and needs. It can be expressed that a well-
defined target market is essential because it provides companies with right direction in which
they can invest their resources and strategies. The present target market strategy of Tata Motors
reflects that the business has defined its market by a variable which is demographic. To market
and sell its new product which is Tata Zest, the brand has targeted people who fall under the
middle-income group of the society (Tata, 2014).
The target market alternative for Zest sedan includes youngsters, working professionals,
and housewife. It is suggested that the youngsters in the country are the best the target market
alternative for Tata Motors. For targeting all these customers effective strategies have been
undertaken by Tata where the main focus of the business is on highlighting the unique feature in
the product range so that level of customer satisfaction can be enhanced easily. In a country like
India, more than 65% of the total population falls under the category of youngsters, and thus, it is
more beneficial for the brand to target youngsters. The sporting look and classy interior of Tata
Zest will help in attracting youngster in the country (Zikmund, 2013). The reason targeting
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youngsters is more beneficial is that the company will be able to find a pool of potential
customers in this target market. Here, Tata Motors can develop its marketing and sales strategies
to attract the alternative target market suggested.
Discussion on Alternatives ways of defining population for the research study
To sustain in the highly competitive industry, it is also required by businesses to define
the buying habit and preference of the target market (Van Der Aalst, 2013). The selection of
population helps in developing useful information and insight about the all the potential
customers in the market. The population for research study can be termed as a specific group of
people who have almost similar demand and buying behaviors. The use of population is carried
out with an objective to develop more effective and result oriented marketing strategies. The two
critical alternatives available for Tata Motors to define its population for research study are
accessible population and target population (Thompson, 2013). The key difference between
target population and the accessible population is that target population is the group of people
whom the researcher wishes to study whereas the accessible population is the one which can be
studied by the researcher.
It is recommended that to carry out a study on Tata Zest, it is more beneficial for the
brand to make use of accessible population. The rationale behind this is that in accessible
population, a particular group from the entire population is taken into consideration. The key
benefit of using accessible population is that it will help in enhancing the overall the reliability
and validity of the research (Salazar, Crosby, & lemente, 2015). It can be expressed that by
selecting a particular group form overall population can help in gathering more accurate and
reliable information on Tata Zest.
Discussion on alternative ways of defining sampling frame for the research
Apparently, to conduct a research study, it is crucial to emphasize in the process of
sampling since that allows the researcher to get appropriate outcomes from the overall
population. The meaning of sampling is different in every domain; hence in the present study
sampling is being done to get an opinion from a group of people regarding research area. While
analyzing the sample for the study, the researcher needs to use suitable technique through which
sampling can be framed. Therefore, from the entire population, the specific sample is being
considered (Robinson, 2014). In the present study, the researcher has diverse techniques of the
sampling frame, and according to research domain, specific one can be selected.
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The major dimensions of sampling frame are a list of students, some people employed
and records present in the telephone directory. For instance- telephone directory can be used for
the purpose of ascertaining data about a limited population. However, in the present study, the
researcher can also emphasize on other sampling frames such as researching the entire
automotive industry of India, listed companies operating in the same industry, number of people
employed, etc (Porter, Cunningham, & Sanz, 2015). Henceforth, according to the specification of
the research work, the researcher can select suitable sampling frame.
Discussion on alternative ways to define sampling approach for the study
Sampling is regarded as a process in which a specific sample size is being selected from
the entire population. This can be done in any domain as a selection of a specific sample
provides a generalized overview of the area of research. To obtain valid outcomes, the researcher
can also ascertain the number of observers who have reviewed the study. Probabilistic and non-
probabilistic are the two major categories by which sampling procedure can be classified. In the
present study of Tata Motors, purposive sampling method has been selected to get information
about the representative sample (Neuman & Robson, 2014). In this approach, the focus is not
laid on market research as researcher emphasizes chiefly on own judgments. This is especially
done at the time of choosing an appropriate sample for the study. There are various other
methods as well that could be selected by the researcher; however purposive sampling is being
selected to express own judgments.
On the other hand side, the simple random sampling method is useful in providing equal
chances to the entire population. This is the reason the method is considered as justifiable and
fair in making a valid and feasible conclusion. In addition to this, the subsequent method is also
regarded as feasible since it is convenient enough (Naini, Dousse, Thiran, & Vetterli, 2015).
Apart from this, in the case of multi-stage sampling researcher focuses on breaking the entire
population into diverse subsets so that appropriate results can be found out. Other is cluster
sampling in which researcher develops varied groups from the overall population. This
significantly assists in conducting the study in a suitable way.
Therefore, afterward looking the entire options, it can be suggested that simple random
sampling is suitable for the present study. Use of such approach can assist researcher of Tata
Zest to engage different units in the process on a random basis (Mujere, 2016). This can
contribute to enhancing progress aspects of the study. Selection of different units can also assist
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the researcher to collect feasible outcomes. The category is also termed as user-friendly and easy
to operate; hence it is being recommended for the present research work.
Hence, as per the present sampling method, the company can involve specific stages in
the entire procedure to get appropriate results. Further, the use of simple random sampling will
also assist the researcher in saving time and money (Jeston & Nelis, 2014). These are other
reasons that enhance the use of simple random sampling in research studies. It is also useful
because it needs only a minimum knowledge of the study group of population in advance. The
process of classification can also be conducted without having any error. In the present study, it
is being used because it is suitable for data analysis which utilizes the concept of inferential
statistics. Thus, it is free from bias and prejudice.
Why the approach expressed in the earlier section will deliver effective research outcome
As stated in the above section, it is evident that simple random sampling is useful for the
study. One of the benefits of simple random sampling is that it is very much easy to assess the
sampling errors. Since it is the representative of the population; thus it is being selected in the
subsequent research work. Nevertheless, the method also carried larger errors from the same
sample size as compared to stratified sampling (Glaser, 2017). Similarly, in simple random
sampling, the researcher faces difficulties especially at the time when units are dispersed widely.
However, use of simple random sampling might assist the researcher in carrying out the entire
study in fair and appropriate manner. For example- at the time of collecting information about
the market, Tata Motors needs to define a specific sample through which data can be grabbed.
Chiefly, the category is being used in studies because of its major contribution in
reaching towards the research outcomes (Bryman & Bell, 2015). However, it is also essential for
the researcher to emphasize on suitable approaches because it aids in collecting valid and
feasible outcomes. Thus, in the present study, the researcher has focused on selecting a sample
from those people who have appropriate knowledge about cars and their utility. By random
sampling, customers are being selected to get appropriate information about cars of Tata Motors
(Bryson & Daniels, 2015). Henceforth, for such purpose, the survey is being carried out, and
questionnaire is given to the participants to get appropriate information about the new product of
Tata Motors. Conducting survey will assist Tata Motors to acquire information about the market
capabilities, customer's preferences and interest of people towards the new product of Tata
Motors. This will aid the company to launch the product suitably at the market place through
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defining every aspect. In this realm, it is clear that focus on simple random sampling can aid
investigator to collect requisite and appropriate information about the products.
Certainly, the method is useful in carrying out the study in a fair manner which can also
enhance its suitability and feasibility. Specific responses can also be acquired from the
participants that will be highly useful for enhancing the validity of the research. At the same
time, collection of information from random sampling can assist the researcher to get knowledge
about the new product (Brem & Wolfram, 2014). This will also be useful in launching the
product effectively in the market place. However, prior launching Tata Zest at the market place,
it is vital for the company to identify the needs and demands of the target market. Thus, a
specific sample should be selected from the entire population to get appropriate and accurate
results. Therefore, by entire discussion, it is clear that there are many benefits of using simple
random sampling technique.
Conclusion
By entire research study, it is evident that every business should focus on selecting
sample size so that accurate information about the research domain can be collected. The above
research made it clear that because of simple random sampling technique; equal opportunities
can be delivered to the participants from the entire population. Hence, this aid in giving valid and
feasible outcomes that encourages the suitability of research study. Apart from this, it is also
ascertained that through sampling only, accurate information can be collected as that avoids
emphasis on a wider area.
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REFERENCES
Brem, A., & Wolfram, P. (2014). Research and development from the bottom up-introduction of
terminologies for new product development in emerging markets. Journal of Innovation
and Entrepreneurship , 9.
Bryman, A., & Bell, E. (2015). Business research methods. USA: Oxford University Press, USA.
Bryson, J. R., & Daniels, P. W. (2015). Handbook of service business: Management, marketing,
innovation and internationalisation. United Kingdom: Edward Elgar Publishing.
Glaser, B. (2017). Discovery of grounded theory: Strategies for qualitative research. Abingdon:
Routledge.
Jeston, J., & Nelis, J. (2014). Business process management. Abingdon: Routledge.
Motors, T. (2017, August 18). About us. Retrieved September 29, 2017, from Tata Motors:
http://www.tatamotors.com/about-us/
Mujere, N. (2016). Sampling in Research. In Mixed Methods Research for Improved Scientific
Study (pp. 107-121). USA: IGI Global.
Naini, F., Dousse, O., Thiran, P., & Vetterli, M. (2015). Opportunistic sampling for joint
population size and density estimation. IEEE Transactions on Mobile Computing , 2530-
2543.
Neuman, W. L., & Robson, K. (2014). Basics of social research. Canada: Pearson Canada.
Porter, A. L., Cunningham, S. W., & Sanz, A. (2015). Advancing the forecasting innovation
pathways approach: hybrid and electric vehicles case. International Journal of
Technology Management , 275-300.
Robinson, O. C. (2014). Sampling in interview-based qualitative research: A theoretical and
practical guide. Qualitative Research in Psychology , 25-41.
Salazar, L., Crosby, R., & lemente, R. J. (2015). Research methods in health promotion. New
Jersey: John Wiley & Sons.
Tata. (2014, February 3). Tata Motors unveils the all-new Zest and Bolt. Retrieved September
29, 2017, from Tata: http://www.tata.com/company/releasesinside/Tata-Motors-unveils-
the-all-new-Zest-and-Bolt
Thompson, W. (2013). Sampling rare or elusive species: concepts, designs, and techniques for
estimating population parameters. united States: Island Press.
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Van Der Aalst, W. M. (2013). Business process management: a comprehensive survey. ISRN
Software Engineering .
Zikmund, W. B. (2013). Business research methods. Massachusetts: Cengage Learning.
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Appendix
SECTION- A
Demographic Information
Name ____________________
E-mail Id ____________________
Age
 18-35
 36-45
 45-above
Gender
 Male
 Female
SECTION- B
Are you interested in purchasing a car?
 Yes
 No
What are the attributes you consider while making purchase decision for a car?
 Price
 Mileage
 Outlook
 Maintenance
 Other factors
Do you prefer purchasing brand only?
 Yes
 No
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