On this context the brand chosen is the entry level luxury brand Mercedes Benz C Class of Daimler Chrysler. The report speaks in brief about the brand its company and its market position among the other competitors.
A luxury car would be the best brand to speak about the lifestyle of a person. It is the aspiration of every common man to own a car. But the aspiration becomes a reality when the person becomes potential enough to own a car of his choice. It also depends on the purchasing power of the person. But at many instances the purchasing power never helps a person to achieve his aspiration. It is by taking into account of this mismatch between the aspiration and purchasing power that many companies started to come up with low cost cars thereby creating a revolution in the automobile market. That strategy could be said as the best one ever to be framed on the basis of lifestyle requirements.
Wide accounts of the demographic and lifestyle theory of buyer behavior, its application and the influence of the behavior on the particular brand and on its marketing strategies are dealt with in the coming chapters. The report also analyses whether the brand is in line with the expectations of the prospective buyers.
Buyer behavior is the most important factor to be considered while formulating the marketing strategies of a product or brand. A product will record only success stories in the market if it is the one that is launched after thorough analysis of the buyer behavior and expectations. Need of the consumer is the prime factor to be considered by a marketer while planning the brand strategy. Abraham Maslow’s need Hierarchy theory is an important and unambiguous theory that states about the need of a consumer and the effect of the need on his purchasing behavior. Marketer should analyze in detail why a purchaser chase a product.