INFLUENCE OF BRAND NAME ON CONSUMER DECISION IN CAR CHOICE Sekhar Choudhury Kirloskar Institute of Advanced Management Studies, Harihar. Abstract In this new era brands not only represent the product or company but also have a strong association with perceived quality, life style, social class, taste etc. This research will create an idea of what influence a brand name can have, when people go for buying cars between different brands. This research will also help to find the relation between brands and the consumer decision making process. Consumer buying behaviour is dependent on many factors, one of them is psychographic where consumer look for status, beliefs, attitudes and value systems influence the buying behaviour, where brand
Natural observation research occurs in the actual environment when the event occurs (supermarket, shopping mall, bank…). In our example, if you choose to use a natural observation setting, the event would probably occur in a car dealership or a similar location where cars are sold or displayed. On the other hand, you might decide to conduct the research in a facility that looks like a car dealership but is not a real one (a simulated car dealership). This would be a contrived observation setting. Participants would be invited to the facility and asked to browse the simulated environment as if they were browsing a real car dealership.
There are many factors which the officials will consider. Mostly it depends on the car we are driving, age, marital status, gender all these are secondary. The price we have paid for our car will reflect on our insurance. If at all there are any issues occurred due to third person, they have to cover it. It is obvious that, if we can maintain a good driving record, the insurance company will quote us less.
In the questionnaire, the importance of social status, quality of life and value of time are assessed. The value set by an individual on such variables could have an impact on the attitude and the behavioral intention. A weighting factor is attached to each of the behavioral belief and the sum of products is used as the estimate of Behavioral Belief. H4: Behavioral beliefs positively impact the attitude towards the act 1.2.2 Effect of Past Experience Naturally the past experience of an individual has a certain impact on his or her attitude towards the act and the behavioral intention. In the Autonomous Cars case, factors such as number of accidents involved, price paid for the previous car, mistakes made in the past while driving etc., were considered as indicators of Past Experience.
There are various mediums of advertisements such as print media, television, online, radio and websites (Leeman, 75). Print promotional and websites are availed to the retailers by the manufacturers. There are brochures online provided by the consumers so that they can be to review the vehicle offering prior to arriving at the dealership. The retailers are supposed to provide a stand-alone facility that accommodates the sales transactions and offices required for the purpose of processing the transactions, and equipment, space and personnel to handle the vehicles. The dealerships are supposed to provide product information online that is added to the customary requirements of hiring, management, repair technicians and staff.
Transaction costs are divided mainly into three categories – search and information costs, bargaining costs, and policing and enforcement costs. For example, the buyer of a used car faces a variety of different transaction costs. The search costs are the costs of finding a car and determining the car's condition. The bargaining costs are the costs of negotiating a price with the seller. The policing and enforcement costs are the costs of ensuring that the seller delivers the car in the promised condition.
Normally, each new car model will be given the choice of at least 3 colors. The buyer will make his own decisions for teaming with the car color of choice.Kansei Engineering is a technique for making an interpretation of emotions and impressions into item parameters. The strategy was concocted in the 1970ies by Prof. Nagamachi at Kure University (now Hiroshima International University). Prof. Nagamachi perceived that organizations frequently need to measure the client's impression of their items. Kansei Engineering can "measure" the sentiments and demonstrates the relationship to certain item properties.
Each criterion is given an importance weighting score. An individual can purchase a car with its own satisfaction in all areas. Each car's overall weighting reflects its position within the class and should only be compared within its category. Classification is a variable technique referred with assigning data cases to one of a fixed number of possible classes. Here a Probabilistic Neural Network is used for vehicle classification.
These attributes are called evaluative criteria as they are the dimensions on which brands are evaluated. Evaluative criteria are the different dimensions, features, or benefits that a consumer looks for in an answer to a specific problem. While functional attributes are common, evaluative criteria can also be emotions and the reactions of important members of a reference group. Before buying a computer, you might be concerned with cost, speed, memory, operating system, display, and warranty. These would be your evaluative criteria.
Technological or market uncertainty Once a First mover enters the market, there is a lot of uncertainty about consumers’ preferences etc. The Market Follower is able to learn from the mistakes of the First Mover and will be in a better position to produce and market products and services that better suit customer preferences. Toyota interviewed owners of Volkswagen to find out customers likes and dislikes and they were able to incorporate this to the design process of the cars they designed for the U.S market. (Lieberman & Montgomery, 1988, 47). Toyota was able to capitalize on the weaknesses of a first mover to provide a car which took into account customer