Report on Marketing Consumer Behavior
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Kaplan Higher Education Academy
Added on 2020-04-15
Report on Marketing Consumer Behavior
Kaplan Higher Education Academy
Added on 2020-04-15
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RUNNING HEAD: Marketing Consumer Behavior1Marketing Consumer Behavior
Marketing Consumer Behavior2Table of ContentsIntroduction.................................................................................................................................................3Situational Analysis of Company.................................................................................................................3Target Market Description...........................................................................................................................4Target market decision making process......................................................................................................5Need recognition.....................................................................................................................................5Search process.........................................................................................................................................5Evaluation of Alternatives........................................................................................................................5Selection phase........................................................................................................................................5Social impacts on Buying Behavior..............................................................................................................6Family......................................................................................................................................................6Reference group......................................................................................................................................6Psychological impacts on Buying Behavior..................................................................................................7Motivation...............................................................................................................................................7Attitudes and Beliefs................................................................................................................................7Personal impacts on Buying Behavior..........................................................................................................7Age..........................................................................................................................................................7Lifestyle...................................................................................................................................................7Marketing Strategy Recommendations.......................................................................................................8Concern about environmental issues......................................................................................................8Fuel efficiency..........................................................................................................................................8Strategic alliances with other manufacturers..........................................................................................8Creating new brand.................................................................................................................................8Conclusion...................................................................................................................................................8References...................................................................................................................................................8
Marketing Consumer Behavior3IntroductionConsumer Behavior refers to the study of people, groups, or associations and all the actions connected with the buy, utilization, and distribution of products and services by including consumer feelings, psychological factor, behavioral reactions that follow these activities (De Mooij, 2010). This report describes the marketing consumer behavior on product Mercedes BenzE250. Mercedes Benz is a globally car manufacturer and also a department of German company known as Daimler AG. The brand is well-known for its vehicles such as luxury cars, transports, coaches and lorries.The report explains the situational analysis of the company, market description, and target market decision making the procedure of company. The report also explains the various impacts on buying behavior such as social, psychological, and personal. Themain objective of this report is to understand why, when, how and other factors influence buying decision of the consumers.Situational Analysis of CompanyAccording to Ott (2013), Mercedes Benz is a currently a producer of various kinds of automotivevehicles, such as transports, lorries, and coaches. Presently, the organization has turned into a department under its parent company known as Daimler AG Group of companies. The company has portraying various innovations progress and security advancements that have become famousin the automotive industry. Mercedes Benz is one of the world's most automotive brands that are still in presence today. Mercedes Benz has made numerous concepts of cars with alternative drive, such as hybrid electric, fully electric, and energy unit power trains. The company has presented the three Bluezero concepts at the North American International Auto show in 2009. Every car feature has a distinct power train that is battery electric, energy component electric andgasoline-electric hybrid (Wu, 2012). The company is also maintained goodwill which is known for its quality and stability. The company main focus is to build the most secure, most comfortable and most effective vehicles in the world for their customers and to produce them in top quality in the overall assembling plants. Company adapts the plan and features of their vehicles as required to particular customer demands in various markets. At the same time, company continues to conducting research that supports the claim to leadership in the
Marketing Consumer Behavior4automotive industry with new developments. According to Worner et al. (2013), Mercedes Benz contributes in the advancement of alternative drive frameworks such as electric vehicles or plug-in hybrid innovation. Also, company is advancing the exploration into autonomous driving cars significantly. The base 2016 Mercedes Benz E250 Blue TEC sedan brought out with a turbodiesel 2.1 liter, four-cylinder engine that produce 195 horsepower. The E250's EPA-evaluated 28/42 mpg city/expressway mileage rating is superior to the fuel economy ratings of most other upscale average size autos, including other diesel models. While the 2016, Mercedes Benz E-Class may not be the sportiest decision in the class, critics say it compensates for that with a remarkably smooth ride, powerful engines and created handling. Target Market DescriptionAccording to Chen et al. (2013), a target market defines the customers or groups which are most likely to buy a specific product or service. The conventional target market of company includes rich class consumers who are above the age of 40 and who want a car with the purpose of lavish services and a high-class feel. Fundamentally, every expensive mid and full sized car such as Sedan, wagon, cabriolet on the market is an effective target. The reason is that E-class consist more models in its lineup than ever before and can be had with back drive or wheel-drive,as a two-door coupe, convertible, station wagon or four-door sedan, with customer decision of two V-6 engines, a V-8 and, and a four-cylinder turbo diesel. The target customers of Mercedes Benz E250 are mostly rich. The target market for the Mercedes Benz E250 consists the middle-aged individual with higher incomes or upper rich class businessmen who need cars as a status symbol. The company does not manufacture low price vehicles because the company focuses on upper class customers. Mercedes Benz E250 also targets males and females both as they manufacture cars to fit both male and female specifications (Sierzchula et al., 2012). In 2016, Mercedes-Benz brand sold a record of 2.2 million cars, up 10 percent over the earlier year. Chinais the greatest market with 22 percent of unit deals, trailed by the United States that is16 percent and in Germany 14 percent.
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