The automobile industry is one of the most significant sectors in the United States economy given the role cars and other automobiles play in the nations public transportation system. An important aspect of the U.S. automobile industry is the car services sector, which is crucial in the nation's public transportation. Apart from the role of cars in public transportation, they also act as status symbols for many Americans. The car services sector is affected by some internal and external market factors that affect the profitability and success of the different players… Continue Reading...
demographic, geographic, behavioral, and psychographic characteristics (Lamb, Hair & McDaniel, 2009). For the automobile industry, consumers can be segmented as follows.
Demographic characteristics
Individuals, male and female, families, middle- to high income, businesses, and professionals
Geographic characteristics
Behavioral characteristics
First-time buyers, repeat buyers, seeking functional benefits, with family needs, seeking social status benefits, seeking quality cars, seeking off-road capabilities.
Psychographic characteristics
Enthusiastic about cars
As per the table above, the target market is broad. It encompasses middle- to high-income individuals and families as well as professionals and business in the US seeking to buy a car for mobility, status, and/or off-road usage. With… Continue Reading...