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Industry Forecasting
Forecasting Automobile Sales power automotive," 2011). There is a high demand for energy efficient automobiles, because of the public awareness of the environmental issues associated with CO2, and cost associated with fuel. Currently there is uncertainty in the market, which creates conservative spending in consumers. Consumers are less likely to purchase a new vehicle when there is financial pressure or an economic crisis. Consumers are holding on to their money, when there is uncertainty in the economy. Some economist argue that even if the economy makes a recovery in 2011-2012, most consumers do not have the funds available to make luxury purchases or optional purchases (Reich, 2010). Consumers are left with damaged credit and high debt due to the 2008-2010 economic crises. The recent recession in the economy has left the American people with distrust in the government, the economy and their vision for the future. People are afraid of financial negative outcomes and have learned the importance of savings; therefore more people are conservative with their spending choices. These are all important factors that will influence the purchases of vehicles.
In the United States (U.S.) an automobile seems to be a household necessity for most families in most parts of the country. In some urban areas of the country an automobile is considered a luxury, because of public transportation.. Although automobile is a necessity for families in most parts of the country, forecasting sales is a difficult task. Forecasting automobile sales in the current economy is extremely difficult mainly because of the uncertainty of the job market and the rising price for gas.
Marketing
When marketing a product, the four most important factors in successful marketing are price, product, promotion and position. The trends in the market will influence each of these four marketing strategies. Trends in the market will change the price of the product, directly correlating to sales. Demands in the market will change the product; suppliers alter their products to meet the demands of the consumers. The promotion strategy of the organization must change, to accommodate market trends and customer needs. "The promotion of the products and services must meet the right target population and be able to attract the right audience" (Constantinides, 2006). Positioning of the product is a key component of marketing. " Establishing the right selling techniques and distinct marketing sales functions is essential for the business" (Marketing, 2007).
Negative Influences
Positive Influences
There are government incentives in the U.S. that were designed to entice buyers to purchase new vehicles,…
References
Congressional Budget Office, Congress of the United States. (2008). Effects of gasoline prices on driving behavior and vehicle markets Washington, DC: CBO. Retrieved from http://www.cbo.gov/ftpdocs/88xx/doc8893/01-14-GasolinePrices.pdf
Constantinides, E. (2006). The Marketing Mix Revisited: Towards the 21st Century Marketing. Journal of Marketing Management. 22 (3/4) 407-438.
J.D. power automotive forecasting. (2011). Retrieved from http://www.jdpowerforecasting.com/downloads/GDS%202009.pdf
Marketing (2007). Marketing. Encyclopedia of Small Business. 2 723-727.
4). 2.4 Effects of Environment: Concerns related to carbon emission were heightened in mid-2000s and in 2007 Al-Gore in his book 'An inconvenient Truth' condemned the big three saying "They keep trying to sell large, inefficient gas-guzzlers even though fewer and fewer people are buying them." In comparison to other developed countries in Europe and Asia, American standard for distance covered in one U.S. gallon was only 25 mpg (miles per gallon).
2007 Economic Crisis on American Car market Effect of the 2008 global economic crisis on automotive industries Crisis in the United States Crisis in Canada Crisis in Russia Crisis in European markets Crisis in Asian markets Effects by other related crisis events In this paper, we will review the effects of 2008 global automotive crisis. Our main focus will be on the American car manufacturers and the negative impact they suffered due to the crisis. We will
The former might be, 'What specific...' [while] Less structure might be exemplified by: "Please respond to the following in your own words: I....'" (Dereshiwsky, 1999) in addition: adding some open-ended items such as these to a more traditionally scaled quantifiable survey, such as one with Likert-scaled attitudinal items, and/or "check/off" questions on demographic background variables, is a good way to make the survey "multimethod" in nature. This is because you'd
This is an innovative system developed by Ford, and with this system, the vehicle operates either on the electric, on the gasoline, or on both engines together. The outcomes of this technology is that it helps emit 81% less smog forming emissions and that it delivers between 400 and 500 miles of travel on a tank of gas. The company has also invested $2 billion in cutting-edge manufacturing and
Automotive Used Parts Industry Each model associates with the development of new automotive technologies thus making it easier for the new car buyers to save massive amount financial resources. Inventory management relates to the specification of shape and percentage of stocked goods/automotive used-parts. . Inventory management refers to a collection of interrelated processes with the inclusion of a full cycle from supply chain management to demand forecasting, through inventory control and
Harvey Industries: A Case Study Harvey Industries is a major name brand within a very niche industry. The company makes a variety of industrial products, mainly pressurized water systems used for washing and cleaning purposes. The company builds products to be used in a wide variety of contexts, including airplanes, cars, building maintenance, engines, swimming pools and more. One of its most lucrative avenues has been assembling equipment for coin-operated car