Consumer Behaviour in the Marketing Mix of Range Rover
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Added on 2023/04/21
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This presentation explores the consumer behaviour in the marketing mix of Range Rover, including product, place, price, and promotion strategies. It also discusses the target market and strategies used to attract customers.
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It came to existence in 1951, when the designers of the land rover company were experimenting with the existing land rover series and credit goes to Gordon Bashford. In support to this experiment, the first prototype of Range Rover was launch in 1967 with little change in the front grill and configuration change in headlights (Landrover, 2018). Introduction
Marketing mix of Range Rover Product The company has completely changed the pattern of the vehicle from mechanical operated towards electrical operated which seems to be realistic in the segment of automobiles. In 2018, the company has introduced its new full automatic electric operated vehicle called velar which shares the capability of both off-road and comfort. Place The rising demand of this range rover in countries like China, Slovakia and India has forced the company to make their present in the formof plantestablishment in these countries so that the transportation cost can be saved and the chances of product damage while handling can be minimized (Chen, Fay and Wang, 2011). This strategy has truly benefited the company in creating own country image brand in case of Range Rover.
Price They focus their market on the famous personalities of the society which are capable of buying this vehicle. In most of the countries this range rover vehicle is always connected to the prestige and heritage and hence the customer which must be associating with this brand must have their own special place in the eyes of the society (Sheau-Ting, Mohammed and Weng-Wai, 2013). Promotion This company also takes help of all print and electric media for theirbrandpromotionliketelevision,sportsmagazinesand newspapers. In order to extend its customer reach on the global platform, this company also takes the active part in trade fairs so that they can display their models and increase their visibility.
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Target market and strategies used to attract convince customers to purchase The company mainly targets the rich class of the society who is willing to pay extra for high-quality product and comfort (Paul and Rana, 2012). Psychographic The company is well aware that their Range Rover models must be a representation of the customers’ lifestyle or in fact, the potential customer must be able to see the reflection of his lifestyle in the company's product (Mostafa, 2009). In addition to this, the company tries to put the reflection of cost for the upper class in the Range Rover with the help of their most premium gadgets
Behavioural Inbehaviouralfeatures,Companytriestofirstunderstandthe buying pattern of the potential customers. As, these segments are financially capable so they often try to buy those products which can reflect their personality through high-quality standards and physical luxury appearance (Marsh and Gibb, 2011). Strategies to convince the potential customer to purchase Perceived Value Status symbol Self-esteem Build quality Desire
Type of purchase for Range Rover For Range Rover, the purchase decision is of high involvement because for the customers buying product like range rover are very important because of the cost as well as for personality matching. High involvement decision is not only connected to the potential customers but is also connected to the Landrover Company because in order to launch Range Rover models, the company haveputhugeinvestmentintermsofmoney,extensive marketingresearchandefforttoofferthemostinnovative features. As per Land Rover Company, promotional message plays one of the most important attraction aspects for the development of the customer base because it this opportunity helps the company in positioning their product in the minds of the potential buyers
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Recommendation By focusing more on digital, the Land Rover Company will be able to understand the changing needs of their potential customers related to automobile market. Company must change their brand ambassador approach from famous Hollywood stars to famous sports player and entrepreneurs due to their increasing followers.
Conclusion Combined engineering of Tata motors and JLR has offeredthisRangeRovermodelthatcompetitive advantage which other rivals are not able to even thinkof.Theiractivepresenceinmostofthe famous auto car shows has helped this range rover modeltobecomevisibleontheinternational automobile platform. Land Rover Company has not only brought new innovative features in the cars but they can put life into their Range Rover models.
References Bellezza, S., Paharia, N. and Keinan, A. (2016) Conspicuous consumption of time: When busyness and lack of leisure time become a status symbol.Journal of Consumer Research, 44(1), pp.118-138. Chattopadhyay, T., Shivani, S. and Krishnan, M. (2009) Determinants of brand equity-A blue print for building strong brand: A study of automobile segment in India.African Journal of Marketing Management, 1(4), pp.109-121. Chen, C.F. and Chen, F.S. (2010) Experience quality, perceived value, satisfaction and behavioral intentions for heritage tourists.Tourism management, 31(1), pp.29- 35. Chen, Y., Fay, S. and Wang, Q. (2011) The role of marketing in social media: How online consumer reviews evolve.Journal of Interactive Marketing, 25(2), pp.85-94. Clegg, B., Chandler, S., Binder, M. and Edwards, J. (2013) Governing inter- organisational R&D supplier collaborations: a study at Jaguar Land Rover.Production Planning & Control, 24(8-9), pp.818-836.