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Buying Behavior
The purpose of the project plan is to identify the behavior of consumers in relation to not only income but also pricing and a number of other factors in relation to the car industry. Effort will also be taken to find the buyers' economy as well as their purchase preferences to the car industry.
Consumer behavior: the Automobile Industry
It is important to note that today, the automobile marketplace is increasingly becoming competitive and in such a competitive environment; only those automobile firms that are able to understand consumer demand as well as shopping patterns and trends are most likely to maintain their profitability. Hence in that regard, the analysis of consumer behavior in relation to a number of variables including but not limited to income and pricing is not only relevant but also timely.
Consumer Behavior in Relation to Pricing
According to Hoyer and Macinnis (2009), a product's price can largely influence a number of decisions a consumer makes in regard to a product's acquisition, usage as well as disposition. It can be noted that the decisions car buyers make in relation to pricing...
In regard to motivation, consumers will tend to weigh the price of a car in relation to the savings to be made in the long-term. For instance, Hoyer and Macinnis (2009) note that Toyota presents one of its models, Prius, as a brand that is consistent with the customers need to save money on gas in the long run. Hence regardless of the price of the car, consumers will still view the same in terms of the savings they are bound to make in future (i.e. In terms of fuel). In regard to ability, the decisions consumers make are influenced by the knowledge as well as experience they posses, their style of cognition, information complexity, age and education and finally; their budget.
Consumer Behavior in Relation to Income
When it comes to the automobile industry, the purchasing power of consumers as well as their disposable incomes is of the essence. For instance, insufficient purchasing power could keep some consumers away from some car segments i.e. luxury cars regardless of their favorable attitudes towards some…
References
Heather, N. (2003). Choice, behavioral Economics, and Addiction. Elsevier Hoyer, W.D., & Macinnis, D.J. (2009). Consumer Behavior. Cengage Learning
Project Management Scope Management Small LAN's Inc. installed a Local Area Network at the new Spring Academy Childcare Center. The project came in a few weeks late becaue of a failure in the planning procees and the overall partner's communications. "In directing the intent of the project, the plan must clearly identify the project objectives, goals, and any special influences or constraints on the project scope." (Stuckenbruck, 100) In order to compete
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Consumer Behavior in Travel: This review is a focus of the literature regarding consumer behavior as related to all aspects of travel. This review includes details of the buying behavior of the major generational groups (determined by accepted year guidelines), why travel consumers choose to shop as they do, and what behavioral traits lead to different travel experiences. Travel itself is a simple concept to define (when an individual leaves the local
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