Consumer Behavior Involved With the Product - Research Paper Example

Consumer Behavior Class "Trend Paper" Table of Contents Table of Contents 1 Introduction 2 Thesis Statement 2 Description of the Trend 3 Consumer Behavior Involved With the Product and an Explanation of Customer Reaction to the Google Cars 4 Assessment on Whether or Not the Trend will Catch On and Suggestions For Possible Future Trends 5 Conclusion 6 Works Cited 7 Introduction Consumer behavior signifies the overall decisions of the consumers in relation to consumption, acquisition and disposition of products and services. Consumer behavior does not only suggest purchasing of tangible products, but it also comprises the use of services, ideas and activities by consumers. It is relatively a dynamic process, which involves various decision making attributes. It is generally quite a time consuming process for consumers to decide upon their precise purchase options as there are several stages involved in the entire decision making (Hoyer & MacInnis 1- 3). Thesis Statement The paper intends to discuss the trend of Google Cars and the consumer behavior relating to it. It also provides a detailed description of the reactions of the customers regarding the Google Cars. An assessment regarding whether the trend will catch on or not would be provided along with certain suggestions regarding possible future trends. Description of the Trend Google cars have been initiated by Google Inc. which engages sophisticated technological features. The project is being handled by an engineer of Google Sebastian Thrun, who is the Director of Stanford Artificial Intelligence Laboratory and also the founder of Google Street View. The Google driverless cars are categorized in S-Class category which contains certain features including a stereo camera on the windshield for peer in front in 3D, longer radars on the front side and shorter radars on borders. It also comprises twelve ultrasonic sensors for detecting the objects during the parking of the cars. However, there are also additional sensors in the exterior and the interior which would facilitate the drivers to monitor the car efficiently (Mui, “Why Google Will Lose in Driverless Cars and Who Will Win”). With the incorporation of Google driverless cars by Google Inc. in the market, it would help the company to generate greater revenues on an annual basis. Every section of the society would be facilitated with the emergence of such technological features driven cars in the market. It would also enable in the creation of opportunities for businesses in terms of serving the requirements of the customers as they would inclined to purchase such a vehicle (Mui, “Google's Trillion-Dollar Driverless Car -- Part 2: The Ripple Effects”). Consumer Behavior Involved With the Product and an Explanation of Customer Reaction to the Google Cars If the Google driverless cars are introduced amid the varied modern day consumer segment, it would enhance the buying behavior as well as the buying option of the customers by a considerable extent which would also in turn enable Google to generate enormous profits out of it. The driverless cars possess wider implications for the overall society and moreover these cars can enable to expand the economy of the nation as well. The purchasing trends of the consumers would be enhanced significantly with the emergence of Google driverless cars in the extensive foreign and national markets. It will also create significant opportunities for the consumers as well as for marketers to overcome the prevalent challenges regarding the manufacturing of the cars which enable them to generate extensive revenues (Mui, “Fasten Your Seatbelts: Google's Driverless Car Is Worth Trillions (Part 1)”). The technology incorporated in the Google driverless cars would also enable to protect the lives of users or consumers. This has been a major drawing factor for a majority of consumers for owning the cars as accidents caused by reckless driving along with technical failure have been a major reason of death in the US. It has been viewed according to the information gathered that around 35,000 lives in the United States and about 1.2 million lives globally can be protected. Here, it can be stated that with the emergence of Google driverless cars, the incident of accidents can be prevented to a larger extent (Carlson, “Google Is Working on a Technology That, If Perfected, Would Save 1.2 Million Lives per Year”). The emergence of Google driverless cars would facilitate customers to obtain various beneficial aspects such as cheaper insurance, enhanced productivity in the society, lesser demand for medical treatment and non-requirement for ownership of the cars. These features would facilitate the customers along with a greater section of people in the society as they would be able to utilize one of the significant technological marvels of modern times (Cruz, “Google’s Driverless Cars Will Be Huge Boon For All”). Assessment on Whether or Not the Trend will Catch On and Suggestions For Possible Future Trends It can be said that due to the availability of certain invaluable technological features, this trend is expected to catch on. The cars have been observed to possess certain unique characteristics which would not only enable to save human lives but would also enable to generate significant preference amid the wider populaces in the society. The opportunities prevailing with the cars can be further enhanced extensively with its establishment in the national and overseas market. In terms of future trend, it can be recognized that Google cars would be able to make effective communication with each another, while driving the cars which can enable to efficiently make lane changes as well as overtakes autonomously. The cars also abide by speed limits and follow traffic rules strictly which can significantly prevent accidents (Nasaw, “Driverless Cars And How They Would Change Motoring”). Conclusion From the above observation, it can be comprehended that consumer behavior is an important aspect for an individual purchasing a product or a service. In the context of Google cars, it can be stated that it is a technology featured car, provided with all the facilities which customers generally desire to have, which further increases the self-satisfaction level of the buyers. Google car’s inclusion in the market would enable to generate greater revenue for the company along with enabling to make a safer society. Works Cited Carlson, Nicholas. Google Is Working On a Technology That, If Perfected, Would Save 1.2 Million Lives Per Year. Business Insider, 2013. Web. 12 Mar. 2013. Cruz, Margie Nemcick. Google’s Driverless Cars Will Be Huge Boon for All. Benefits, 2013. Web. 12 Mar. 2013. Mui, Chunka. Why Google Will Lose in Driverless Cars and Who Will Win. Tech, 2013. Web. 12 Mar. 2013. Mui, Chunka. Google's Trillion-Dollar Driverless Car -- Part 2: The Ripple Effects. Leadership, 2013. Web. 12 Mar. 2013. Mui, Chunka. Fasten Your Seatbelts: Google's Driverless Car Is Worth Trillions (Part 1). Leadership, 2013. Web. 12 Mar. 2013. Nasaw, Daniel. Driverless Cars and How They Would Change Motoring. Home, 2012. Web. 12 Mar. 2013. Wayne, Hoyer, D. &, Deborah, Maclnnis, J. Consumer Behavior. United States: Cengage Learning, 2008. Print. Read More