The concept of purchasing behavior has evolved over the years and is paramount in forming marketing strategies. Day by day, human needs are growing, and this trend is invincible. The consumer behavior analysis is complex, especially in the luxury car-buying industry, which concerns a high social and psychological involvement. Its analysis is necessary to form marketing approaches and beneficial relationships with a particular group of customers.
In the first stage, potential buyers are aware of the need to buy an expensive and high-quality car. There are two groups of stimuli – internal and external. This phase determines precisely what problems have arisen, what caused them, and how they led the consumer to a particular product (Haralayya, 2021). The most important thing at this step is to use targeting and banner advertising to get people interested and willing to buy. For example, the audience does not know about the benefits of purchasing this particular car. Still, due to the banner ads and posts on social networks, people begin to think that such a car is a necessity. The next step is the search for information by the consumer, which is carried out using different sources of information: confidential sources, commercial, publicly available, and sources of practical experience (Levy & Grewal, 2020). It is essential to convince a potential client of the indisputable advantages of this particular car which can be accomplished by posting car reviews.
The evaluation stage is characterized by identifying and comparing the properties of expensive and cheap cars and the indicators of importance. Therefore, it is essential to demonstrate the undeniable advantages of a luxury automobile compared to its cheaper counterparts (Haralayya, 2021). The decision to buy is made as a result of the previous stages. Purchase of a luxury car always presupposes spending a significant sum of money. Therefore, clients can doubt for a long time and decide longer than usually. The last step is the reaction to purchase or evaluation of the correctness of the choice of the product.
It is significant to state that the rise in popularity of mobile apps and social media is changing patterns of interaction and communication, resulting in customer behavior. Digitalization is changing the sales and service process, and industries are being forced to innovate in their sales formats. About 80% of new car buyers and almost 100% of used car buyers start their car purchases by searching online, which means that dealers are losing their primary source of information and the ability to influence the customer (Haralayya, 2021). Consequently, it is necessary to optimize the online presence by integrating content from third-party sites.
Luxury car buyers are becoming more informed and demanding. They expect dealers to know the latest models and technical specifications and be aware of new applications and the possibilities of connecting devices such as smartphones and tablets to them. Therefore, it is necessary to expand opportunities and online presence and emphasize innovations and advantages of luxury products. Moreover, it is also essential to give customers feedback to stimulate them for further cooperation and to establish a trusting and loyal relationship (Levy & Grewal, 2020). Clients should understand that they will always be helped and heard, and their opinions will be considered. To this end, it is crucial to allow them to post reviews and provide one-time discounts.
Buying behavior integrates economic, technical, political, cultural, and demographic factors. It applies biological components and the car’s characteristics, reflected in the purchasing mindset, motivation, perception, character, proficiency, and lifestyle. It is feasible to succeed in competition in the market only after comprehending complex consumer behavior because only it qualifies for driving marketing conclusions consistent with the consumer’s necessities. Its analysis makes it possible to coordinate strategies according to customer behavior and improve service.
References
Haralayya, B. (2021). Effect of branding on consumer buying behaviour at Vijay Bharat Motors Pvt Ltd, Bidar. Iconic Research And Engineering Journals, 4(12), 207-222.
Levy, M., & Grewal, D. (2020). Marketing. McGraw-Hill.