Key factors influencing buying

The fundamental objective of target costing is to manage the business to be profitable in a highly competitive marketplace. In effect, target costing is a proactive cost planning, cost managementand cost reduction practice whereby costs are planned and managed out of a product and business early in the design and development cycle, rather than during the later stages of product development and production.

Key factors influencing buying

Well, before beginning to develop a new product, all manufacturers spend hours trying to understand the needs of the specific target audience. At times, there is a gap between what the car manufacturer perceives about the market needs and what the car buyers actually seek.

Which brings us to an important question that every car manufacturer has been pulling its hair out to answer - what exactly do Indian car buyers want? Understandably, the needs of car buyers in India will vary according to the segment they are looking at. The needs of a prospective entry-level hatchback Key factors influencing buying will be very different from that of a luxury car buyer.

Similarly, the priorities of a first-time buyer and someone who is considering upgrading to a bigger car will be different as well. Surprisingly, in the majority of these e-mails, car buyers across segments seem to be considering similar parameters in their decision making process.

We have now compiled a list of the key factors that seem to influence the car buying decisions solely based on the e-mails received from our readers over the years. We have not conducted any survey to gauge the key factors for car buyers in India.

5 Factors Influencing Consumer Behaviour | Explained

Do note that the listing is not in any particular order as some attributes might be more important to you over others. That is because not all automotive creations can be called affordable. Buying a car is a financial commitment which requires weeks and at times months of planning. So, when it comes of signing the cheque, one is bound to think twice and get choosy.

Usually, the first priority for all prospective car buyers in our country is deciding the budget. It is not uncommon for an individual to consult friends and family before deciding the budget. In majority of the cases, the budget is flexible and gets extended by around Rs 20, to Rs 50, This happens as after visiting the showroom one tends to reason that going for a higher trim is more sensible as it will be more feature loaded.

Use 'cost' in a Sentence

Buyers take into account the various benefits being offered by the showroom like cash discount, exchange bonus, free extended warranty, lower insurance premium and so on. Along with the price, the brand of the vehicle is equally important. In our competitive market, very few automobile brands have managed to taste success.

Understandably, every brand is perceived differently by buyers. Before choosing a brand, one evaluates the brand in terms of its market reputation, reliability, build quality, technological innovations, ownership issues and so on.

Styling Yes, styling is subjective and what appeals to one be might be repulsive for another. Fact is nowadays cars are used to flaunt success, make a style statement and are considered to be an extension of our personality.

Key factors influencing buying

So prospective buyers want their car to stand out in a crowd. The Renault Kwid is a good example of how an innovatively styled vehicle for its segment has got buyers hooked. So much so that it has got the segment-leader Maruti Suzuki worried.

Fuel economy and performance It is true that every human being is unique and has different expectations from their vehicle. However, the one common bit that strings all Indian car buyers together is their obsession for good fuel economy.

But then why not avoid buying a car in the first place and save a bagful of cash?

Key factors influencing buying

Guess, we Indians love to have our own cake and eat it too. Our obsession with mileage may not change, but over the years buyers are beginning to prefer a blend of performance as well as efficiency.

Space For existing car owners looking to upgrade, this is one of the key deciding factors. For first-time buyers as well, their buying decision is governed by how much room or interior space the car offers."A clearly written, vividly illustrated discussion of 'internal advocacy'—that is, advocacy inside organizations—combining the best of traditional and contemporary research from a variety of disciplines with a host of historical and current examples from business, politics, education, and the world of non-profits and social movements.

Costs Versus Benefits. Costs and benefits are key factors that all economic decision makers take into account. Families, small business owners and others weigh the benefits and costs of decisions. He explains that buying behaviour is influenced largely by internal factors such as the motivation or need to acquire a property, the buyer’s knowledge of property, personality and lifestyle requirements, all of which influence the decision process.

4 important Factors that Influence Consumer Behaviour. Consumer Behaviour – The consumer, The KING of the market is the one that dominates the market and the market us know the King first. A consumer is someone who pays a sum to consume the goods and services sold by an organization.

International Journal of Humanities and Social Science Vol. 4 No. 4 [Special Issue – February ] 92 A Survey of the Factors Influencing Investment Decisions: The Case of Individual. This study reviewed 53 empirical articles on green purchase behavior from to This is one of the first study that reviewed articles related to attitude - behaviour inconsistencies in .

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