Consumer Analysis Pt.1 — Consumer Needs

Car buying decisions are influenced by numerous criteria with different rate of importance. While rarely paying attention to all of them, consumers rely strongly on at least one of them, whem buying the vehicle. Patterns depend on geographical, demographical and psychographical factors, that will be studied in other parts. Here, we’ll try to list the main criteria, that eventually become part of a buying decision.

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Safety has become one of the most important criteria, when choosing a new car. Public perception of automobile as a source of danger shifted priorities in buying decisions, making people pay more attention to safety of the vehicles. Even price is of lesser importance, when vehicle fails to correspond to basic safety regulations. However, safety ceases to provide competitive advantage after some basic general threshold, which is reachable by most manufacturers. Quantitative improvements on safety have yield only within consumers of upper middle class and above and those with families and children.

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Surveys show, that quality is dominant criteria, when choosing a car. Vehicle by nature is an expensive good and consumers have certain expectations on it’s longevity and reliability. Failing to deliver expected quality standards may lead to decreasing image of a brand. Quality also corresponds to running costs of a vehicle: how often do consumers have to service it and acquire spare parts.

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Obvious criteria, that’s crucial for almost any buying decision.

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This criteria is part of running costs of a vehicle. Ever increasing prices of hydrocarbons influence running costs of a vehicles, that are operating on relevant fuels. Thus, high fuel consumption rates are commonly perceived as a negative criteria.

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Corresponds to numerous technological features, presented in a vehicle, which may vary from multimedia systems to pneumatic suspension and adaptive cruise control (or even autopilot). This criteria is important for upper-middle class and luxury buyers.

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Design is a common stimuli for updating lease of a vehicle, as newer models emerge (Annual or bi-annual updates of vehicles generally have mostly cosmetic improvements). Design is of strong importance within trendy consumers and women.

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Is an important criteria for people of the ages above 35 and those, who intend to commute long-distance travels or uses car for work.

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Some brands are associated with sport, another — with safety; some are for young and some mean that you are successful. Consumers often choose brands, that they feel or want to be associated with, even when they’ll lose among other criteria.

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Environmental awareness is rising among populations. Green and anti-pollutant movements gather pace and become more and more popular. Finally they influence car buying decisions. Automobile became one of the symbols of pollution — shame of humanity. Still unable to abandon automobiles, people may find salvation in improved ecological qualities of a car(lesser CO2 emissions, low fuel-consumption rate).

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Criteria, that goes hand in hand with price and quality. Buying decision in certain situations may be influenced significantly by rate of depreciation of a vehicle.

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Consumer Analysis:

Part 1 — Needs

Part 2 — Decision Making

Part 3 — Segmentation

Part 4 — Trends

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