Compare how luxury car brands like BMW and Mercedes-Benz target their market compared to more affordable brands like Toyota and Honda. How do these strategies match the needs and preferences of consumers in different income groups?
For a new car purchase, discuss your decision-making process as a consumer.
Instruction: First You need to research the companies mentioned above. Then, you must correctly put into practice the information you gained in Modules 4 & 5 about STP strategy and consumer buying process. You can use actual examples from the company or research reports or articles that address the topics. Based on that, prepare a report outlining potential segmentation and positioning strategies for these businesses.
Be sure to cite your references. [ 30+ 10 points]
Formatting Guidelines:
– Write details with references (excluding introduction, body and conclusion).
– Type the report with 1.5 spaced using Times New Roman 12 font.
– Avoid quotes unless they have specific relevance to justify a conclusion. In most cases, quotes should be avoided as evidence or support.