Car Chassis Research - Essay Example

Car Chassis Research 0 Introduction about Car chassis Car chassis is a component, which supports the car body and the suspension system. This component is very essential in a motor car since it dictates the design of the car. Many car manufacturers devise different car models depending of the chassis design. Expensive car models have expensive chassis component, while cheap cars have chassis models that are not that expensive. Chassis manufacturers must observe the market trend before introducing new model in the market.

Since the invention of motorcar, different chassis designs have emerged. The vehicle performance influences the design of chassis in the market. This factor dictates what chassis manufacturers would present into the market. This research paper seeks to identify market trend of car chassis. 1.1 Background research Background research of car chassis indicates that many car chassis designed have emerged into the market following the change in motor vehicle technology. Car chassis would dictate the car design.

For example, racing car models have expensive chassis compared to other car models. Many chassis models follow the demand in the market trend. Car chassis manufactured in 1970s were durable compared to chassis manufactured in 1990s. This is due to the market trends of cars. The high demand for car chassis has contributed to the above changes. Motor vehicle manufacturers come up with different car designs, which dictate a change in car chassis industry. Cost factors influence car chassis manufacturing.

These costs include cost of raw material, cost of production, and distribution costs. These costs have influenced the car chassis industry since the industry seeks to meet the demand of the emerging markets. Consideration of these factors led to the emergence of a low cost chassis, which would meet the demand in the market. Further research indicates that government policy, purpose of the car and demographic factors influence marketing of car chassis. 2.0 Market Research about Car Chassis Market research indicates that the low costs car chassis have penetrated markets and has the largest market share.

This follows the demand for low cost cars by many buyers. Demand for a product in the market would influence its supply (Cao & Schniederjans, 2002: 109). The law of demand and supply is essential in establishing a market for the car chassis. Factors such as price would influence the demand. For example, the low cost car chassis has high market demand because of its price. Many customers are willing and able to buy the low cost chassis compared to high cost chassis. Market demand depends on the socioeconomic status of the people.

Distribution of market demand for the car chassis follows socioeconomic factor. The low cost chassis suit the demand for the middle class people who form the majority in the car market. It would be difficult to produce expensive products, yet the willing buyers are a few. Conducting market research is very essential since it provide the essential information required by the manufacturers about the needs of the people. Market survey provides information regarding the social status of the people, the number of competitors in the market, product demand, and supply among others.

This information would help a car chassis-manufacturing firm to brand, design and distributes its products into the market. It is advisable for business firms to conduct a market survey before rolling their products into the market. The purpose of any business venture is to make profit. When a car chassis-manufacturing firm conducts a market research, it would be able to develop marketing strategy. This strategy would include the aims and objectives of the business, marketing mix, and entry behavior into the new market.

Car chassis firm has to consider the following when conducting a market research. The marketing information regarding car chassis-this would include the information regarding the prices of similar products in the market, demand and supply situation of the market. The car chassis-manufacturing firm can obtain this information by conducting a market survey, media source, articles among others. Market segmentation information is essential for the car chassis firm. Market segmentation refers to various components of the market according to need, socio economic status, geographical regions, techno graphic differences, use of products among others.

This factor is very essential to the firm because it would influence the strategy that the firm will develop. For examples, report about market segmentation would help the car chassis firm to identify new markets for its products. On the other hand, it would help the firm to develop new technology or new marketing entry approach. Another essential element of market research is the market trends. Market trend refers to the rate at which products in the market respond to demand or law of supply (Duboff & Spaeth, 2000: 106).

Market trends would help the firm to identify the market size for its products. The market size would influence the production of the of the car chassis firm. When the market is large, the company will have to increase its production. The company would need the above information for decisions making process. 2.1 Customer Survey Customer survey refers a process, which involves identification of factors that would enhance customer relationship, loyalty of the customers to the business and increase sales.

The car chassis firm has to identify ways in which it would increase its sales following the customer survey. Car chassis industries have developed over 20 brands of chassis that would suit the need of the people in the market. Research indicates that factors such as geographical distribution and social economic status of the people have contributed to the development of these brands (Hayes, 2008:103). Customer survey measures the loyalty of the customers to the business products. The firm would be able to identify areas of improvement if it has identified the loyalty of the customers.

It is important for the business to identify the probability of their product sale. The survey provides the possible trends that the market is likely to adopt when the car chassis firm approaches the business in a particular manner. The prosperity of any business enterprise depends on the relationship of the business to its customers. The car chassis firm fear to lose its customers because it would translate to low results. The survey would help in building customer relationship by determining the prices of the products, quality, and distribution.

Distribution of products is a critical area in marketing. It contributes to the viability of the business because long distribution channels would influence the price of the business. Timely distribution would promote the business products in the market among others. Largely, the car chassis firm would work to have to make decision about the business products using the report from customer survey. 2.3 Competitor Survey Competitor survey refers to a move, which aims at identifying the supplies of similar products in the market.

A competitor is a firm which supplies or sales a similar product to a rival firm. Car chassis market is a competitive market because several firms have similar products. The firm needs to create competitors profile, which provide the information regarding competitor’s background, products, strategies among others (Postoaca, 2006:78). Information about the products of the competing firms would include the following product line breadth and depth, product offered, product balance portfolio. The manner in which the car chassis firm would present its products to the market would influence the out come of the business.

Product line for the firm refers to the physical items that bear offer similar satisfaction that the firm is able to offer in the market. The car chassis business must differentiate the products it presents to the market following the market segmentation. In some situations, the firm may opt to develop new products in the market in order to compete favorably. Another essential area, which the firm has to work on at it, handles competitor survey is the market. Identifying and developing effective approach into the market would lead to business to command large market share (Bennekom, 2002:135).

The desire of the firm is to command a large market share. Promotion and pricing strategy of the firm would help the firm to penetrate new market. Promotion of the business product would increase awareness of the products in the market. The car chassis firm may employ promotion methods such as media, after sale service and discount to lure customers of the business. In conclusion, car chassis change with the demand in the market. Market segmentation led to the advent of the low cost car chassis.

Different demands by people influence products of the firm. Market research provides information that would influence marketing entry approach taken by the firm. Customer survey provides information regarding the loyalty of the business customers. Competitor’s research would help the car chassis firm to identify the products, firms who offer similar products and prices of the products in the market. The survey would influence the pricing strategy of the firm. Bibliography Bennekom, V. C. F.

, 2002, Customer surveying: a guidebook for service managers, Colchester: Customer Service Press, Cao, Q. & Schniederjans, J. M., 2002, e-Commerce operations management, Hackensack, NJ: World Scientific. Duboff, S. R. & Spaeth, J., 2000, Market research matters: tools and techniques for aligning your business, New Jersey: John Wiley and Sons. Hayes, E. B., 2008, Measuring customer satisfaction and loyalty: survey design, use, and statistical analysis methods, Milwaukee: ASQ Quality Press.

Postoaca, A., 2006, The anonymous elect: market research through online access panels, Boston: Birkhäuser.