Effect of luxury cars on the uk market Essay Example | Topics and Well Written Essays - 2000 words

Effect of opulence cars on the uk market - Essay ExampleIn new(prenominal) markets, especially those in the South Eastern Asia region make significant sales of other types of luxury cars too (TATT, 2010).However, these markets are always limited to the center of attention total volume of sales by the overall size either of the industry or by the local conditions of the market and other preferences (Shende, 2014). Consequently, the market for luxury cars generally is presently undertaking some sort of social change with some of the luxury car brands seeming to be less remote. The brands are likewise seen to be less varied and at the same time less exclusive with the quality, that they have in improving lives (TATT, 2010). As a result, the increment in the competition between different car makes has intensified the relevance of brand identity (Shende, 2014).As the standards of the product continue to go up, the customers perceive image of the car brand plays a major role in making the buying decision. Some of the luxury cars such as the BMW, Lexus and the Mercedes- Benz are reverberate to develop some values and characteristics that are seen to reflect the ever-changing social values (TATT, 2010). The values then influence the buyers emotions, so that the brands agree their positions in various world regions of the global market (Shende, 2014).In the past several years, the research into the customers perception and their behaviors in the luxury car industry has been operate by a couple of researchers all over the world (Shende, 2014). There is very little literature both in writing and in softcopy message that document any research done concerning customer perception of luxury cars. Most of the work is focused on the loyalty of the consumers and that of brand switching (ANURIT, NEWMAN & CHANSARKAR, n.d.).The anchor research that has been made has focused on the low priced segment ranges of cars rather than the luxury car segment in which any choices be tween the choice of individualistic potential buyers and brand image concept play a big