Marketing Environment Variables Assignment Help on the following question :
You work for an automobile dealership that sells a complete line of vehicles, from full-size pickups and luxury sport-utility vehicles (SUVs) to economy cars and hybrids. After analyzing the recent changes in consumers’ buying habits, your boss wants you to create a marketing information system for the dealership. The system should help the firm identify early trends in its marketing environment. These trends directly impact the consumer demand for different vehicles available for sale at the dealership. Identify the variables in the dealership’s marketing environment that need to be monitored to recognize and predict trends. Explain the need to monitor trends and forecasts for each of these variables. Describe how you will monitor these variables. In addition,
Marketing Environment Variables Assignment Help Paper: Market Research in Auto Dealership Variables in Dealership Marketing Environment In auto dealership marketing environment, it is important for the dealers to know the different variables that affect on customer buying behavior and recent trends in automobile industry. These trends impact on demand of different vehicles for sale at the dealership. Following are different variables: Competitors: It is important for the dealers to identify the competitors and their strategies for monitoring recent trends. Geographic locations, comparative prices, availability of new models and effective after sale-services of competitors affect the consumer buying behavior. In addition of this, marketing mix strategies of competitors, their promotional and supply strategies have to be monitored to recognize and predict changing trends of customers. New Technology and Innovation: Information about innovative and new technology is important for the dealers to identify the recent trends. New technology provides more safety and security features, more comfort and high speed, remote diagnostics, information, entertainment and other services at reasonable price that influence the buying behavior of customers. So, it is important for the dealer to recognize these advance technologies and provides automobile with new features with high quality. Customer buying behavior: Customer acceptances towards innovation, their preferences and prices sensitiveness of complex buying decisions are important to monitor for identifying recent trends. Along with this, negotiation for prices, discount amount, offers in festive season and effective advertising are variables that affect the trends of customers, so, it is necessary for the dealer to monitor these variables for recognizing customers’ behavior and recent trends in auto dealership marketing environment.
Need of monitoring: Automobiles are associated with high cost, brand name, prestige and specific performance aspects. In global economy, it is necessary to monitor trends due to new product inventory, new management and marketing and production techniques. To maximize the results, it is important for the dealers to identify and recognize variables that impact on recent trends. These trends are important to develop marketing and promotional strategies as compared to competitors. Along with this, identification and monitor of new technologies are important to attract customers by providing the latest features with advanced technology and greater satisfaction. Through monitoring of these variables, dealers can provide products and services in effective manner according to competitors and recent trends. With the help of this, dealers can forecast consumer behavior, competitors’ strategy and innovation in automobile industry and develop new pricing and inventory strategies for providing automobiles to customers at their convenience.
Monitoring: These variables will be monitored through strategic analysis of competitors’ strategies, their sales and services. Along with this, new technology advancement and latest innovation will be monitored by in-depth market analysis and customer preferences. Customers will prefer new technology products, so, dealers can identify latest innovation in automobiles. In addition of this, advertising are important method to analyze new trends and new innovation in the automobile sector.
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