Consumption of a Luxury-Car from the Information Processing Perspective - Assignment Example

The need-based awareness of the consumer is then transformed into the process where the consumer tends to retrieve information from the external market relating to the parameters of availability, cost and benefits. The information gained contributes to the enhancement of purchase intentions. Further on the consumer moves forward in search of other competitors related to the same product category and then selects the one that best suits one’s need and purchase potentials. In this stage, the consumer tends to deal with a plethora of options relating to the product and chooses the one that turns out to be the most applicable. Finally, the consumer generally in the course of making high price purchases like luxury cars tends to continually revaluate the decision by focusing on gaining more information that further reinforces one’s purchasing intentions (Baines, Fill and Page 83-86).
Automobile companies like General Motors to increase the level of consumer attention tend to enhance their relationship aspects has created a website that helps the consumers choose between a large number of options to select the vehicle suiting their needs. Further, the website also informs the consumers relating to the different financing options and also the cost parameters related to the different models. General Motors in such ventures also tends to present to the consumers a comparison between its models with other models produced in the same category by its competitor firms. This mode of communication rendered enhances the dimension of consumer loyalty for the luxury goods company here acts as an effective advisor tending to meet the needs of the consumer. Moreover, the level of consumer advocacy is enhanced by firms like General Motors inviting the people to take test drives of their models for a continual period of 24 hours. This strategy pursued helps in enhancing the consumer’s relation to the commodity thereby rightly increasing the likelihood for the purchase (Urban 77-81). Thus it is evident that the use of information technology has contributed to the development of customer relationship activities for the luxury goods and vehicle companies thereby contributing to the development of brand awareness. The enhanced use of internet-based marketing and promotional events contributes to the pulling of consumer interests for the commodities in the pursuit of creating increasing the level of consumer awareness (McGovern, Court, Quelch and Crawford 74). Consumers of luxury good and vehicles further tend to search for new and innovative relationship aspects with the respective companies in the form of evidence of loyalty ventures through which they can earn rebates and occasional or promotional discounts. The introduction of loyalty schemes and the creation of loyalty club by the companies tend to excite further consumer attention and interest in procuring the merchandises concerned from the concerned companies (Fournier, Dobscha and Mick 48).
Consumption of a Luxury-Car from the Experimental Perspective
The consumption patterns of consumers in terms of procuring luxury cars and merchandises tends to be largely governed by the opinions, value sets and attitudes developed by them in relation to their existing social and cultural framework. Again the preference patterns of the consumers are also governed in terms of the ideologies reflected by the different groups to which they relate. Social and cultural influences along with group influences tend to largely govern the purchasing patterns of the consumers regarding the procuring functions of luxury vehicles (Baines, Fill and Page 101-102).
The consumption patterns of luxury cars evaluated from an experimental perspective reflect that consumers tend to go for popular and known branded products than other luxury car brands that are generally segmented into specific categories. Henceforth along with the global scenario the market for luxury cars like BMW and Mercedes gain much higher significance than other luxury car models like Ferrari and Porsche that have been relegated more to the sporty segment for their avid use in car racing events. Again consumers of luxury vehicles also differ along several segments related to their price and usage preferences and also in relation to their social status. Thus consumers that occupy the position of the Chairman of the Chief Executive Officer of some company would generally tend to go for high price models relating to the luxury cars involved. Again the middle-income groups would tend to go for the medium-priced models of the luxury cars to satiate their needs and desires. Thus it is required for the luxury car manufacturers to work in the production of different models to help in satisfying the needs and aspirations of different consumer segments. Experimental research pursued through analysis of luxury car purchasing preferences relating to Thai and United Kingdom consumers reflects the varying degree of preference patterns. It is found that though Mercedes tends to be much more costly than BMW the same is much preferred in Thailand owing to the royal sentiments of the local people. Only a small portion of young Thai consumers relate BMW to have a sporty look thereby tending to go for such. On the contrary, consumers related to the United Kingdom prefer BMW owing to the prevalence of better infrastructures to drive high-speed cars and technological expertise (Anurit, Newman and Chansarkar).