Research Proposal: Luxury Car Purchase Behavior in Malaysian Market

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AI Summary
This research proposal examines the factors influencing consumer buying behavior in the luxury car market of Malaysia. It investigates how brands connect luxury with value for money to shape consumer decisions. The proposal includes an executive summary, introduction, literature review, research methodology, expected results, and a conclusion with recommendations. The literature review covers consumer behavior, marketing strategies, ethics, and the role of money. The methodology section outlines data collection and analysis methods, along with ethical considerations and limitations. The study aims to map the factors associated with luxury car purchases, the strategies used by brands, and the impact on consumer behavior. The research questions address how money influences buying behavior, the frequency of loyalty programs, and recommendations for ethical compliance. The significance of the study lies in understanding money's impact on consumer behavior and the scope extends to the unexplored realm of money's influence on buying behavior. The proposal aims to contribute to the understanding of consumer behavior in the luxury car market by mapping the factors associated with the purchase of luxury cars and the strategies taken by brands to influence the buying behavior. This research will help to highlight the importance of money as a crucial factor in shaping consumer buying behavior.
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Running Head: PROPOSAL
Proposal
Name of the Student
Name of the University
Author Note
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1PROPOSAL
Executive summary
The paper is concerned with putting forward the proposal of elucidating the factor of how the
consumer buying behavior as associated with the purchase of the luxury cars in a Malaysia is
manipulated by the brands linking the values for money with the quotients of luxury. The
proposal would also discuss the literature conducted in the respect and the methods that will
be used in order to elucidate the proposition of the researcher.
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2PROPOSAL
Table of Contents
Introduction................................................................................................................................4
Background of the Research Study........................................................................................4
Research Problem...................................................................................................................4
Research Aim.........................................................................................................................4
Research Objectives...............................................................................................................4
Research Questions................................................................................................................5
Significance of the study........................................................................................................5
Scope of the research.............................................................................................................5
Outline of the chapters...........................................................................................................5
Literature Review.......................................................................................................................6
Introduction............................................................................................................................6
Consumer buying behavior....................................................................................................6
Marketing strategies of the automobile brands......................................................................7
Ethics and Consumer Buying behaviors................................................................................8
Money as an influencing factor..............................................................................................8
Summary................................................................................................................................9
Literature Gap......................................................................................................................10
Research Methodology.............................................................................................................11
Data Collection Method.......................................................................................................11
Data Analysis Method..........................................................................................................11
Ethical issues........................................................................................................................11
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3PROPOSAL
Research Limitations............................................................................................................12
Gantt Chart...........................................................................................................................12
Expected results.......................................................................................................................12
Conclusion................................................................................................................................13
Recommendation......................................................................................................................14
References................................................................................................................................15
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Introduction
Background of the Research Study
Contemporary scenario of the purchase of the luxury cars, particularly in the location of
Malaysia has been guided by the purchasing behavior of the customers towards the luxury
cars because of the factors of the luxuriousness. It has been seen in due course of time that
the trend of the consumers buying luxury car has been motivated by the factors denoting the
luxurious attributes of the cars
Research Problem
The customer purchase behavior in the contemporary time has elucidated how the mental
satisfaction of the customers have motivated the buying behavior of the customers. The
companies producing luxury cars in the market has strategically marketed their cars in order
to cater to the needs of the customers. As such, the companies are attaching different markers
to their cars that are appealing to the psychical needs of the customers. The markers have
been associated with factor of money by the brands. The research therefore tries to pick up
from the point in order to discuss how the factors of luxuriousness has been connected to the
value for money by the brands in order to shape the consumer buying behavior.
Research Aim
The aim of the research is to map how the factors denoting the luxurious aspects has been
connected by the brands with the value for money and thereby has shaped the purchasing
behavior of the customers by providing a justification for the amount they have spent.
Research Objectives
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5PROPOSAL
a. To map the factors associated with the purchase of the luxury cars.
b. How the factors have been associated with money?
c. What are the strategies taken by the brands to justify the factors associated with the
money spent by the customers by conforming to the ethical dimensions?
d. How this has changed the buying behavior of the customers?
Research Questions
1) How the money as a factor has been attached with the quotients of luxury in order to shape
the customer buying behavior of luxury cars in Malaysia?
2) How frequently the brands carry out loyalty program in order to assert the ethical values of
the brand?
3) What are the impacts of the strategies on the customer buying behavior in Malysia?
4) What are the recommendations that can be made in order to assist the organization comply
with the ethical aspects?
Significance of the study
The significance of the study lies in mapping the importance of as a crucial factor in shaping
the customer buying behavior.
Scope of the research
The scope of the research will extend in order to elucidate the unexplored realm of the money
that has been consciously used by the brands to shape the buying behavior of the customers.
Outline of the chapters
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6PROPOSAL
The proposal would indulge in an extensive discussion of the literatures and previously
conducted researches in order to discuss the various aspects of the customers’ behaviors and
the strategies taken by the organization to influence the same. The proposal will also include
in its discussion of the methods that would be used to conduct the research and the methods
of analysis that will be used to derive the desired result.
Literature Review
Introduction
The aim of the section is conduct a detail analysis of the factors that affect the
customer buying behavior in order to guide the researcher in course of the research. The
factors that would be considered for the discussion are the consumer buying behavior, the
marketing strategies of the brands, the factors of luxury, the ethical perspective of the luxury
brands and the consumers value for money for luxury brands.
Consumer buying behavior
N.Ramya in their discussion of the customer purchase behavior has defined the
customer purchase behavior as the behavior of the ultimate customers towards the product or
the services they are a consumer off. The factors those influence the buying behavior of the
concerned customer where the aspects of the society as well as that of the culture they
consumer belong from is intrinsically linked. As such the buying behavior as well as the
reaction of the customers towards the product of the brands have been utilized by the brands
in order to develop their strategies in order to shape the buying behavior of the customers
(Ramya & Ali, 2016). Tan wee Lee in his paper has discussed how the loaded market of the
Malaysia with automobile industry has indulged in the competition and thriving to find a
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7PROPOSAL
edge in order to sustain. Along with that the needs of the customers against the product is
evolving with time in order to shape the strategies of the brands in order to comply to the
changing customer behavior. Some of the common factors include the massive speed of the
cars along with the fuel efficiency that the cars exhibited along with the quotient of
sustainability has aided in shaping the behavior of the customers to the cars they buy (Lee &
Govindan, 2014).
Marketing strategies of the automobile brands
Ng Lee Yong has discussed how the factor of the customer behavior towards the
product has been experienced in the intention of the customers towards the products that
ensures buying of the cars that enhances the green values by showing the competence to the
environmental concern (Yong et al., 2017). The concern of the customers have been modified
by their competence towards the environmental concern. As such the organizations ensuring
the value of their product in terms of the environment competence. As per the research of Dr.
Idris, the value of the product has been established by the author in respect to the Perushann
Otomobil Berhand that the PROTON had been able to establish itself as a national brand
within a relatively shorter period of time. In the course of the research the author has
explicated that the international perception of building has influenced the perception of the
people (Noor & Lingam, 2014). As such the research had invested a significant portion of its
concern deciding whether the perception about the foreign brands have influenced the buying
behaviors of the consumers in Malaysia. In the discussion of the Glyn Atwal, experience has
been a guiding factor is deciding the status of luxury values of the products before elucidating
to the customers. There has been a difference in the marketing strategies in catering to the
need of the wealthy customers against the mass good (Atwal and Williams, 2017). It also
created new challenges in front of the developers of the marketing strategies deal with the
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8PROPOSAL
new form of the desires that has been ascribed by the new taste towards the luxury products.
The success of the brand marketer has thereby attained by connecting the consumers of the
luxury brands with the experience of the consumers with the branch. Jean Noel in their
discussion on the luxury brand building has discussed how the growth of the luxury brand has
been related as a sign of the economic growth, which is marked by its remarkable prospect in
the growing countries (Kapferer, 2016).
Ethics and Consumer Buying behaviors
Nina Langen has discussed how the ethics as a factor is crucial to the choice of the
consumers, which an avenue of the philosophy has been used to cater to the questions related
to the morality. As such the buying behavior of the customers are closely linked to the
question of ethics as they impact the behavior of the consumers towards the choices they
make to a great extent (Langen, 2013). The discussion of the Hanan Ifttekar is also aimed at
pointing how the factor of the marketing practices is crucial to the buying behavior of the
customers as they stay at the receiving end of the market. As such, the ethical marketing
practices allow the customers to establish a balance between the consumers and other
stakeholders (Iftekhar et al., 2013).
Money as an influencing factor
The research of Vikram Shende has elucidated how the value of money and
the maximum utility is linked to the buying behavior of the customers. The quality of the
purchase that the customers make depend largely upon the choices that they make.
Reasearchers have also elucidated how the compulsive behavior of the consumers are linked
with their anxiety and the money attitude that urge them to buy their desired good (Shende,
2014). As such the value money turns into the marker of their power from the general
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9PROPOSAL
conceived notion of the money that is being used. The factors related to money are therefore
power, anxiety and price sensitivity. The purchase of the luxury products have been highly
driven by the intention of the customers towards the purchase of the product. This is again
linked to their perceived value of the product. The research has thereby elucidated how the
perception about the functional value of the product guide the purchasing behavior to a great
extent where the societal and the national factors play a pivotal role in guiding them. As such
the differences in perception has allowed the managers to shape their differentiation strategies
according to the perception of the customers (Khare, 2014). The resultant outcome was
experienced in the placing of the brand image in a way that placed the brand image in the
context of the cross-national boundaries. It was thereby required of the marketing strategies
to take a cautionary approach towards shaping the strategies in reaction to the cultural
indicators that mirrors the decision-making at the consumer level. Since the marker of
Malaysia is heavily loaded with different brands of automobiles there rae huge competition
among the brands to associate their brand with the values their customers associate with. As
such there is a trend to exploit the national and cultural values of the quotient of luxury. Since
the factor of luxury is highly psychical in nature a crucial understanding of the factors
influencing their customers would allow the brands to attract the desired groups of the
customers.
Summary
The researches and the academic works consulted in the due course of the interaction
has elucidated how the factor of the consumer buying behavior has been a source of concern
for the marketing sector in general and time and again changes in the marketing level
strategies has been made in order to influence the same. In case of influencing the factors of
ethics and morality has been considered to check the measures that has been taken in order to
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influence the decision-making in terms of branding the image in order to influence the choice
of the customers. Researches have also shown how the attributes of sustainability and the
better experience is linked by the youth to the value of the products they purchase. In a
similar fashion the value that the consumers of the luxury brands associate with their products
would vary accordingly both in terms of the demographic factor as well as due to the factors
crucial to the market. The buying behavior of the customers are highly linked with the value
of the product and the functionality, which in turn is linked to the functional value of the
product. However, in terms of luxury goods the scenario has been different as the buying
behavior is highly guided by the psychical factor the consumer where the value of money is
not necessarily linked to the functional value of the product rather it has been linked to the
prestige factor that the concerned product ascertains them with. Malaysia being a hub of the
automobile industry has a number of companies who all have been struggling to establish in
the market filled with a large number of competitors. In order to achieve the same the brands
are resorting to establish the brand image to attract the customers. Since the factors
influencing the buying behavior of the customers are different from the buyer of the gross
product it is evident that the strategies taken by them would be linked with the values
associated by the consumer of the luxary brands with the products that they purchase.
Literature Gap
The discussion conducted in due course has discussed the importance of the factor of
the branding that has been used to influence the buying behavior of the customers of luxary
cars. Considering the values associated with the money is different from the conventionally
accepted value for money, generally the strategies taken by the companies to influence the
buying behavior of the customers would be highly different. The research conducted did not
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11PROPOSAL
discuss how the different value for money has been used by the brands in order to frame their
strategies to influence their customers in availing their luxury cars.
Research Methodology
Data Collection Method
The research will be conducted carrying out survey in order to analyze the primary
data that will be gathered in due course in order to gather the data and the perceptions of the
respondents. The research will be conducted using primary data gathered from the
respondents using the method of survey. The research will include the owner of the luxury
cars from prominent luxury brands dominating the market of Malaysia. The questionnaire of
the survey will include approximately 20 questions beginning with the questions related to
the demographic factors and continue the issues regarding the attributes that influence them.
This section would bring under its domain the factors of the brand, color, price, comfort and
feature that influence their behavior towards purchasing their desired product.
Data Analysis Method
The research will be conducted by including quantitative analysis method in order to
analyze the data gathered from the primary source through the process of surveys. The data
collected will be explained using different graphs and charts as would be required by the
research to investigate the propositions made by it in due course.
Ethical issues
The research will take into consideration the ethical issues in terms of collecting the
data as well as analyzing them in the course of the research. The research will not make any
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