Bmw Position in Uk Market

The most competitive consumer arena in the business world entails convincing the public to purchase a particular brand of vehicle. The decisions as to which model are a function of income, affordability and personal preferences, wants, needs or desires, however this portion of the equation is rendered moot unless the brand has been sold. More than in any other consumer area, the 'image' of a brand is a selling point that is generally accomplished years, even decades, before the actual purchase is made. In the automotive industry what a person drives is not indicative of what a person wants (or would like to drive). As is the case with most purchases, it is determined by the consumer's ability to afford the item, which is usually the primary consideration. Once that part of the equation has been determined (affordability) either by demographics (income) - credit - down payment - lease - etc., then other considerations such as needs (meaning if the purchase is to be a primary or secondary vehicle, and whether family [meaning children] are a part of this equation]), functionality, style, performance, re-sale value, as well as a number of other factors having a bearing on the final decision.

The question of the overall economic outlook, on a personal as well as global basis, is the larger parameter preceding the aforementioned brand decision. For some individuals the status of the current or future economic situation is not a boundary or inhibitor to purchase, however for the majority of consumers their perception of the stability of the economy, their jobs, finances, interest rates, along with other demographic and psychographic considerations do play a role in either price, method (purchase or lease), as well as timing (when they will or are considering obtaining a new vehicle).

In contrast to the decisions that consumers mull over in determining what vehicle to purchase, the decision(s) of an automotive manufacturer must correctly analyze competitor trends, traits, styles, pricing strategies, market preferences, technological innovations, emission legislation, performance, fuel mileage, and hundreds of other factors to design and field a vehicle at the right time, in the right market, for