In this term newspaper we have examined luxury goods and what's the buying design of luxury goods in India. As we realize India's market is developing and it is considered to be the world's third economical power. We try to examine that with the increase of income people's costs on luxurious goods has increased. We've also analyzed the most attractive luxurious goods sector "luxurious autos" in India. We've determined three companies and examined their product features, quality, performance, costs, distribution channel and their promotional and advrtising strategies. For luxurious autos brand value, emotinal factor and performance are essential. Advertising is not the primary thing after sales service and customer marriage management is more important to retaining a person. For luxury goods acquiring new customer cost is more then keeping a customer. Now India's inflation is within solo digit. It's good for luxury goods specially car producers. We have examined the progress rate of luxuries automobiles in India.
Luxury Goods
"Why do I need to understand how the watch market is doing? I'm in the business of luxury", Partick Heiniger, CEO, Rolex
Luxury brands have often been from the primary competences of imagination, exclusivity, craftsmanship, precision, high quality, technology and premium costs. These product features give the consumers the satisfaction of not only using expensive items but the extra-added mental benefits like esteem, prestige and a feeling of a high status that reminds them among others that they participate in an exclusive group of only a select few, who are able these costly items.
The luxury sector focuses on its products and services at consumers on the top-end of the wealth variety. These self-selected elite are pretty much price insensitive and choose to invest their time and money on objects that are plainly opulence alternatively than necessities. Therefore, luxury and prestige brands have for centuries commanded an unwavering and often illogical customer commitment.
Luxury hasn't been something easy to specify, yet this mystery concept is something highly desired by one and all likewise. We look at delving deeper into this puzzle and aura of luxury goods using comparing them against 'regular goods' as well as highlighting the characteristics of the blissful luxury industry. But before beginning with that, lets first attempt to understand some typically common terms associated in the world of high-end goods:
Luxury and prestige brands such as Rolex, Louis Vuitton and Cartier symbolize the best form of workmanship and control a staunch consumer loyalty that's not affected by developments. These brands create and establish the seasonal developments and are also competent to pulling all their consumers with them wherever they go.
Difference between Regular goods and luxury receive below:
Characteristics of the luxury industry
1. Luxury means various things to different people
Luxury does not have any certified origins. But luxury branding is said to have taken beginning in the western world with the looks of high-end brands. To get an perception into what luxury today means to different People in the usa, we look into the table below, it shows American Demographics in 2003, to understand how to build up target approaches for various segments.
2. Luxury is a product niche in itself
This can be best described by the fact that both a pricey watch and an artwork can be viewed as to be luxury items. Therefore, all luxury marketers are not just competing in their 'theoretically defined' product categories (like manufacturers of refrigerators be competitive amongst themselves) but for the wallet show of luxury goods in total.
3. The meaning of luxury experienced changed
Luxury has migrated from its 'old' interpretation of ownership (also called conspicuous ingestion - Conspicuous intake is a term used to spell it out the lavish shelling out for goods and services that are bought mainly for the purpose of displaying income or riches alternatively than to gratify a real need of the consumer. In your brain of a conspicuous consumer, such display serves as a way of attaining or preserving social position. Invidious consumption, a necessary corollary, is the term applied to intake of goods and services for the deliberate purpose of uplifting envy in others) of things to the 'new' meaning of the experience / fulfilment produced from having a certain object.
4. Aura is more important than exclusivity
Exclusivity is something that can't be made certain to a great degree and neither is it the prime dependence on an extravagance consumer. The buyer bases his decisions on the relevance of the aura of the brand to his fulfilment or actualization needs.
5. Classification of luxury consumers
SRI Consulting Business Intellect places consumers in 3 organizations according to what luxury methods to them:
Luxury is Practical - these consumers have a tendency to buy luxury products for his or her superior features and quality. Consumers in this section, the largest of the three, have a tendency to be elderly and wealthier and are prepared to spend more income to buy things that can last and have long lasting value. They buy a wide array of luxury goods, from artwork to getaways, and conduct comprehensive pre-purchase research, making reasonable decisions somewhat than emotional or impulsive. Text messages that highlight product quality and are information-intensive are powerful with this group.
Luxury is Reward - these consumers tend to be more radiant than the first group but over the age of the 3rd. They use luxury goods as a status symbol to say "I've made it!" These are encouraged by their desire to be successful and illustrate this to others. Luxury brands which have widespread recognition are popular; however they don't wish to appear luxurious or hedonistic in the look of them. They want to get "smart" luxury that shows importance without leaving them available to criticism. Marketing messages that communicate acceptable exclusivity resonate with this group.
Luxury is Indulgence - this group is the tiniest of the three and will include youthful consumers and marginally more guys than the other two communities. Their goal for luxury goods is to lavish themselves in self-indulgence. They are prepared to pay reduced for goods that exhibit their personality and make others get sucked in and are not overly concerned with product longevity or possible criticism. They enjoy luxury for just how it makes these to feel, therefore have a more emotional approach to purchases.
They respond well to messages that highlight the initial and emotional features of a product.
6. Trading up
A mass of rich people have surfaced around the world, bring about a large section of consumers who are now moving to luxury / top quality brands, in so doing creating greater business opportunity for luxury marketers.
7. Introduction of luxury brands
Sea of luxury brands have surfaced giving a wide choice to consumers, in all segments of luxury goods.
8. Trading down
Today, fashion brands are giving luxury brands competition because of marketing blend and branding strategies, which will make it appropriate to pair these two brands. This is something that was not used before. For example- Using an Armani t-shirt with a pair of GAP jeans
9. Factors at play
In luxury marketing there's a understated interplay between three factors that most strongly influence the luxury consumer to buy: product brand; seller or store's brand or service providers' reputation; and price/value relationship.
10. Customer commitment is more important that brand awareness
Rather than focus on measuring the brand awareness of an extravagance company, measuring customer devotion is far more significant a metric regarding the success or inability of corporate strategy to connect with the blissful luxury consumer.
Luxury in India
To achieve success in India, it is both essential to measure the financial potential as well as the state of mind of the Indian luxury consumer. This will help in delivering forth the right product offerings to the Indian consumer as well as focusing on them better.
Qualitative Insights
1. Relating to a study by American Express, 'Inside the Affluent Space', the mindset of the Indian consumer is a need to establish that "I've MANAGED TO GET". This is related to the luxury categorization which is dependant on the fact that luxury sometimes appears as an incentive, both for achievements in life as well as showcasing these achievements to others.
2. THE BLISSFUL LUXURY Marketing Council Worldwide has established a chapter in India, with the aim of promoting luxury in India. Their job will also be to develop synergy between various luxury brands considering India by way of posting of consumer insights as well as best practices.
3. Even the Asian region is not standard in its desire for luxury in terms of need fulfilment. Therefore, it becomes important to delineate the needs of the Indian consumer from the other Asian parts to focus on them better. This agenda gains importance because many Indians check out acquiring luxury from places such as Hong Kong, Tokya, China etc.
Eg. It is interesting to notice that Singapore individuals are more of connoisseurs in comparison to Hong Kong consumers who would like Talk-Value using their company luxury goods
4. Hindustan Times has been at the forefront of driving the luxury revolution in India by organizing two Indian Luxury Meetings in the last 4 years. To increase it, it also brings about a monthly product of luxury goods available in India, thus creating consciousness for the luxury brands.
Strategies for Luxury Marketing in India
There are classic foundations for ensuring success of a brand and they are listed below in simple:
1. The brand must be "expansive"
Which means it ought to be full of invention opportunities for the marketing expert and in conditions of gratifying the divergent needs of the luxury consumer
2. The brand must notify a story
It is this tale, of either traditions or performance or other aspects that continues on to create the aura of your brand as time passes. The storyplot always accentuates the identity of the brand.
3. The brand must be highly relevant to the consumers' needs
Depending after the state of mind of the luxury course, it is critical for a brand to meet those needs, whether they are for identification or useful use etc.
4. The brand must align with consumers' values
A brand that will not agree with the basic principles of a consumer's population has a tiny chance of succeeding because luxury items are forms of expression or identification for an extravagance consumer. This helps it be difficult for the consumer to look at the brand in such cases.
5. The brand must perform
Irrespective of which category the brand belongs to, a performance assurance is a must for the brand if it needs to maintain the evoked group of luxury consumers, considering the price being paid for luxury.
Based on the inputs given above as well as a knowledge of the decision making procedure for the luxury consumer, we recommend the following pathways for luxury marketers based on what Indian consumers really desire from their luxury brands, i. e. product brand, supplier/store brand and price/value romantic relationship :
(The purchase price / value relationship has been accorded less emphasis since the Indian consumer reaches a stage when cost of luxury is secondary to its appeal / benefits)
Brand Me Affluent!
It is growing to be a raging battle for the blissful luxury marketers in conditions of customer devotion. The client will turn to whichever brand that accentuates his affluence.
TASK: It is essential for marketers to ensure that the reputation value of the brands is always high so that it lends a sense of affluence to the buyer, which can only come if others around them understand the brand to be a top-notch luxury brand. This can come from either being aligned with successful stars or being truly a part of elite incidents and offers.
There are also some luxuries branding strategies open to the luxury internet entrepreneur that can be used since the consumer is obsessed with the ownership of a luxury brand but might not have enough financial strength of get some good of the luxuries.
Luxury brand strategies
having another line of goods available at lower cost
eg. Refurbished automobiles and brand extensions
promoting luxuries as a wise investment
eg. Villas
"Targeted luxury" is another concept progressively more being used by luxury brands where luxury product memorabilia is directed at the relevant target segment so that they can fuel their desire to have owning the product.
eg. Miniature types of Mercedes cars, key chains of Rolex watches
Additionally, additionally it is important to calculate the amount of efforts necessary for building brand commitment, which can be considered inversely proportional to the brand commitment in a category. An indication of the same is given in the table below:
Nothing however the Best! - Because I'm the best
Given the wealth escalation in the coming years, the Indian consumers are ready to clear their wallets in an attempt to exceed satisficing their needs. They need the best, be it in whichever category because it helps them relate to the feeling to be the best in their domains, thus concluding their sense of achievement.
TASK: That is a golden chance for the marketing expert to earn better margins with the addition of personalized value to his type of luxury goods. These added-value custom-made goods will ensure that the customer feels he has something more than just the ordinary selection of luxury goods available.
Luxury is having the world within my fingertips - First!
The "I've Made It" desire can only just be achieved if a consumer has usage of the luxury products before anyone else. If another person gains usage of those luxury goods, then that particular good becomes a me-too product.
TASK: An extravagance marketer will not only have to be faster than his rivals in calling the consumer, to gain a talk about of wallet but also continually offer impressive products that provide to differentiate between the consumers.
The Indian consumer, while wanting to ape the West, also sees a sign of luxury in the Indian culture / royalty. Taking this aspect forward, a consumer also makes an attempt to create a reference to his root base while at the same time making efforts to accomplish grandeur.
TASK: This aspect is linked to the strategy of something being good consumers' values for this to be implemented. Aside from this, in the Indian context, ethnicity is also a fashion statement in many product categories such as
You Think I'm challenging? Next!
The quantitative statistics do foresee a sizable society of luxury consumers. As it happens generally where the segment size increases greatly, products move towards standardization and service levels become low to achieve economies of range. However, it is important to comprehend that the blissful luxury market does not behave this way in any way.
TASK: The marketer's job should be considered a constant endeavour to provide newer luxury goods to the consumer, in sync using their needs. In addition to that, marketers will require to ensure that every single consumer has to be cared for with a high-level of individualized attention, given the nature of the merchandise and the consumer. Even small shortfalls in this case will have the consumer moving their brand personal preferences to people marketers who are able to satisfy their needs better.
CANNIBALIZATION OF BRANDS
Recent trends suggest that many celebrities, which are similar to the mainstay than the ambassadors of varied brands, are starting their own brands. In situations like these, luxury marketers are afflicted given that they have lesser amount of celebrities to associate their brands, as well as increased competition.
TASK: It thus becomes essential to ensure that successful celebrities are partnered with at the right time, in doing so both eliminating chances of competition as well as delivering the right aspirational / appeal concept to the intended audience.
Luxury car section in India
The car industry in India is the ninth greatest in the world with an gross annual production of over 2. 3 million items in 2008. In '09 2009, India emerged as Asia's forth greatest exporter of automobiles, behind Japan, South Korea and Thailand.
Indian traveler car market at a glance
The luxury car market in India has signed up a fair amount of progress in the last few years and is growing at the speed of 25% per yr. A luxury car is luxuriously styled vehicle which was created to give satisfaction and comfort to its owner. The luxury vehicles in the Indian market are incredibly expensive, with the price tags that starts off from Rs. 20 lakh. Hence, luxury cars only be afforded by individuals who belong the high income group and there are a lot of such takers in Indian auto market. Purchase of luxury car provides buyer an immense amount of joy which surpasses the financial value of the product.
Values of Luxury
Exclusivity: Luxury provides customer the value of exclusivity. Luxury autos are expensive in support of premium school people are able these cars. Owner of these cars always tries to provide exclusive fratures to customers.
Hightest quality: Customers of these cars also looks forward to the feature of quality product. It means cutomrs like high quality in features and performance in exchange of high price.
History: For luxury products background performs an important role. Companies with very long time running history has impact on luxury car sales. Customer would like to affiliate themselves with historical brands.
Root/Country of source: Root or country of source is another most significant part. Country of origin gives the sense of purity. For example- people prefer germen cars for excellent engineering and talk about of art.
Emotion: Emotional principles are straight associated with luxury vehicles.
Customization: Luxury autos provide the value of customization. Luxury car producer gives the option of customization. For example- home design can be customised with customer choice or desire.
Reasons for the growth of luxury vehicles in India
Indian current economic climate is growing which is giving people more disposable income that they are shelling out for buying luxurious autos.
Various loan strategies have been launched by the auto manufacturers and financial institutes. It has made it super easy for the visitors to buy luxury cars which has boosted the luxury car market in India.
With the IT growth in the country many youngstarts are high pay packages which enable them to buy luxury vehicles.
Government has produced many policies including the relaxation of equity laws and the reduced amount of import tarrifs pertaining to the automobile industry. These have helped to reduce prices of luxurious autos, which in turn have led to growth of the blissful luxury car market in India.
4 P analyses of Luxury cars in India
In marketing 4 ps are product, price, place and advertising. By doing 4p analyses we will receive a brif idea about the luxury car segemnt and their product feature, cost range, distribution route and promotional activities of different brads in India. We will do the 4p analyses for Mrcedez, BMW, Audi, and Lamborgini.
BMW vehicles in India
BMW is retaining the number one position of luxury car section in India and potrays a symbol of powerful and ahead striving people. In India BMW has increased its market talk about in luxury car segment to over 40% in '09 2009(from 9% at the end 2006). 3619 cars sent to customers in the calender year 2009, BMW has achieved the "highest sales with a manufacturer in the blissful luxury car portion in a time" till time.
BMW 5 series:
Product Features:
Comfort
Automatic air conditioning with extended features
CD changer for 6 CDs
Cruise control
Floor mats in velour
Interior reflection with computerized anti-dazzle function
Lumbar support for drivers and front passenger
Park Distance Control (PDC)
M Servotronic
Softtop operation, totally automatic
Sport chairs for driver and front traveler, electrically adjustable
Storage net in the front passenger side
Windscreen with inexperienced shade band
Alarm system
Car phone preparation
Comfort entry to the rear
Cup holder
M external surfaces mirron in body colour
HiFi Loudspeaker system
Lights package
Rain sensor
Sport leather tyre with multifunction buttons
Sports automatic transmitting with Steptronic
Storage net on rear end of backrests
On-board screen with TV function
Wind deflector
Xenon signals with headlight washer system
6-rate manual transmitting with electrically controlled oil cooling
Backrest width adjustment
Comfort gain access to system
Electronic Damper Control
Exterior reflection package
M front seats, electric seat adjustment with memory
M leather steering wheel with multifunction buttons
Interior
Brushed Aluminium, Shadow
Carbon-look leather, Black
Fine-wood cut Sycamore Grain, Anthracite
Leather Novillo Bamboo Beige
Leather Novillo Black
Leather Novillo Fox Red
Leather Novillo Palladium Silver
M light- alloy rims Double-spoke style 260 M with combined tyres
Exterior
Length: 191. 1 in
Height: 57. 8 in
Curb Weight: 3946 lbs
Fuel current economic climate of BMW 5 series is 22. 6 mpg to 27. 7 mpg.
Engine Type: 4. 8L V8
Compression Proportion10. 5:1
Bore X Heart stroke3. 66x3. 48
Displacement cu in (cc): 4, 395 cc
Safety
3-point seating belts
Active headrests, front
Airbags for drivers and front passenger, with couch occupant detector
Anti-lock brake system (ABS)
Head airbag, entry and rear
Bumper system with interchangeable crumple areas front and rear absorbing impact at speeds up to 15km/h
Dynamic Brake Control (DBC)
Dynamic Balance Control (DSC)
Dynamic Traction Control (DTC)
Integrated side-impact protection
Safety battery terminal clamp
Side airbags for front and back passengers
Warning triangle with first-aid kit
Price:
Starts at Rs. 39, 40, 303
Ex-Showroom Price
Note: Ex-showroom price excludes RTO subscription charges, duty, insurance, handling charges; Octroi and accessibility tax (as applicable). The above mentioned ex-showroom prices are exclusive of sales duty / VAT appropriate available to the client. Prices and options are subject to change without preceding notice.
Place:
As pioneers in providing luxurious dealerships to India, it placed a decisive course by establishing BMW dealerships of international benchmarks across all metros. In India presently they may have 16 BMW dealer facilities. Because they embark on the next phase of their dealer network strategy, BMW India will further expand operations by building its existence in 10 more places.
Promotional strategy for BMW 5 Series:
Slogan: "Exploration of Beauty".
BMW implemented an extreme product offensive with rapid market growth through higher customer intimacy. They have got addressed these through competency-enhancement across all levels seeking new business opportunities.
They have arranged very high standards operating quality and customer support in India, which meet up with the targets of its customers. And this is exactly how they position themselves to redefine luxury, concentrating on individuals, recognising future difficulties, promoting ingenuity, and being the key supplier of luxury products and services for individual flexibility. They always concentrate on their strengths and so on the implementation of the luxury claim which they express with each with their vehicles.
This yr, they plan to expose BMW Financial Services India, which will work as a non-banking finance company once it gets the necessary regulatory clearances. This division will offer alternatives for Retail Financing for BMW customers and also offer insurance answers to its customers through its co-operation partner. In addition they plan to add a pre-owned car business with the release of BMW Premium Selection in India. Everything in regards to a BMW says quality. So whether BMW is three weeks or 3 years old, it is still the 'ultimate traveling machine. '
Also, with BMW's increased product portfolio they may have engaged with their customers and potential customers in innovative dialogues to ensure that the brand affinity transforms into product possession. There have been initiatives including the BMW Golf Cup International across 10 places and the BMW Art Cars exhibition, presented at the Jahangir MEMORIAL in Mumbai. Conceptualising the BMW Studio at Janpath, Delhi as a place where their customers can engage with the brand within an exclusive environment is another. There are also formal eating out and wine-tasting situations at leading BMW dealerships across India.
To reiterate the concentration of the brand, they have used communication of the wealthy heritage of BMW Eras through association with leading fashion designers and happenings like the India Couture Week. For BMW, if actions submit to the values recognised to be 'on-brand', it'll cumulatively build the organisation's desired long-term reputation. If not, we appreciate which it hazards fragmenting what our brand means, and we won't select the idea, however powerful it is. This doesn't imply the brand is rigid, nor will it really refuse BMW opportunities. Rather, it acts as a framework for decision-making, allowing the business enterprise to feel self-confident that its operational decisions are building the brand towards its long-term ambitions.
They have given Television commercial and print media advert also.
Mercedes Benz in India
The E-Class premiered within the last one fourth of 2009. The company imports these sets and assembles them at its Pune device. In the entire year 2009 total Mercedes Benz sold 3, 247 units.
Product top features of E-class
Transmission type: Automatic
Fuel type: Diesel
Seating capacity: 5
Gearbox: 7 speed
Engine explanation: 3. 0L 228b horsepower V6 twin-turbocharged
Engine desplacement: 2987 cc
Fuel: For the new E-Class, Mercedes-Benz has put together an intensive raft of actions, which is one of the main element factors behind the decrease in fuel consumption as high as 23 percent. Reducing the move coefficient (compact disk physique) by 0. 01 only brings about a fuel keeping of 0. 04 litres per 100 kilometres in the brand new European Driving Circuit (NEDC) because of the low average acceleration of 33 km/h; however, in the real world - for example at a motorway rate of 130 kilometres/h - this reduction in the cd amount equates to a fuel cutting down as high as 0. 15 litres per 100 kilometres.
Comfort/Convenience
3-Level sound-dampening soft-top
AIRCAP automatic wind deflector
Dual-Zone Automatic Weather Control with Dust Filter
10-Way power entry seats with 4-way vitality lumbar support
3-stage memory space for driver's chair, ability steering column, and outdoor mirrors
3-Spoke Superior Leather Multifunction Steering Wheel
6-Disc Compact disk/MP3/AM/FM/Weather strap Radio
8-Speaker Sound System with Auxiliary Input
Bluetooth Connectivity for Hands-free Phone Use
7 COMAND display w/Central Controller
Burl Walnut Trim
Front and Rear Cupholders
Power Tilt & Telescoping Steering Column
Cruise Control
Rain-sensing Intermittent Wipers
Power House windows with Exhibit Up and Down
Automatic Headlamps with Twilight Sensor and Locator Lighting
Paired Daytime Running Light and Fog Light
Through-loading feature above rear end armrest
Safety/Security
ATTENTION ASSIST drowsiness monitor
Brake carry function
New Vehicle 4 yr/50, 000 Mile Warranty
24 hr. Roadside Assistance Program
Owner Information Kit
Mercedes-Benz Maintenance System
Steel Reinforced Cabin w/Front side & Backside Crumple Zones
Dual Two Level Front Airbags
Head Safeguard Curtains
Side Airbags Mounted in Front Seat Backrests
Dual Leading Pelvic Airbags
Drivers Leg Airbag
NECK-PRO Active Entrance Head Restraints4-Wheel ABS Disc Brakes with Brake Assist System
Electronic Balance Program (ESP)
Anti-Slip Regulation (ASR)
LATCH-Lower Anchors and Tethers for Children
Antitheft Alarm with Engine Immobilizer
SmartKey with Panic Button
Tire Pressure Monitoring System
Front & rearseatbelts with pre-tensioners & power limiters
Wheels
E350 Coupe
Staggered 17 twin 5-spoke alloy rims, 235/45 (F), 255/40 (R)
E550 Coupe
Staggered 18 5-spoke alloy rims, 235/40 (F), 255/35 (R)
Price:
Ex-showroom price: Starts off at Rs. 48, 08, 000
Note: Ex-showroom price excludes RTO subscription charges, taxes, insurance, controlling charges; Octroi and accessibility tax (as appropriate). The above ex-showroom prices are exclusive of sales taxes / VAT relevant available for sale to the customer. Prices and options are at the mercy of change without prior notice.
Place:
This fascinating product collection was backed-up by the broadest and deepest luxury car network spanning 56 touch factors all over the India.
Promotion:
Slogan: For E-class cars "The best or nothing. "
Managing Director and CEO of Mercedes-Benz Dr. Wilfried Aulbur attributed this success to aggressive product online marketing strategy and focus after the end customer: "This year 2010 we revisited every products enhanced motors, enriched our offerings and additional strengthened value proposition of our own products.
Driving Experience programs, 15 cities MercedesTrophy Golf competition, Manish Arora collection "Encouraged by Mercedes" and incredible Mercedes drives. Such initiatives have helped them work ever before closer with their customers, understand their needs and serve them better. While volume level is important, they continue to focus after strong profitable development and customer pleasure. "
They have given Television set commercial and printing media advertisements also.
Findings
In India luxury car prices starts from Rs. 30, 00, 000 to above. (Ex-showroom price).
Target customers for luxury cars in India's income range should be above 30 lakh and a long time 30-55 years.
For promoting luxury cars producers favor interactive promotinal activities. Like- driving competition, car design competition, Golf event etc. where customers can actively participate. Generating competition car developing competition helps customers to believe and experience the automobile. They do that kind of promotinal activities from psychological aspects. Luxury car companies give tv ads to inform customers about services and strengthen customers about comfort, value, status by exhibiting exclusive features, slogan and brand icons.
Luxury car companies give focus on on customer relationship managemengt. They maintain customer data platform system and in special ocassions for their valued customers they send gift idea or coupons or vouchers.
For luxury cars after sales service is vital. CEO of BMW said that "whether BMW is three weeks or three years old, it continues to be the 'ultimate driving a vehicle machine. ' They focus on on customer satisfactionby providing them after sales services.
Luxury cars be a part of "Car Expo"or "Engine show" kind of exibition for releasing their new models.
In promotional ads or alternative activities they ues quality, performance and show rather then celebrity endorsement.
Mostly in case of Individual Sales the Customer goes to the showroom and takes a go through the product. There he's attended to by the Sales Employees of the Dealership. Sometimes the Older Sales Executive must make Sales Display to Corporate Buyers. Personal Selling is also practiced at Trade Fairs and Auto Shows wherein the Company appointed Sales Personnel attend potential customers and also book their requests.
In the situation of Direct Marketing the Company Officials straight contact the Prospective buyers with the info available through various resources. For example in case of Road Shows, Trade Fairs, Automobile shows etc. Sometimes the existing customers provide references of possible potential buyers such as their friends or family.
Public relation- For almost all of the luxury automobiles pre-launch enjoyment and buzz was made by a complete blown PR program.
For luxury vehicles competition is high plus they use frontal attack strategy most of the days. The attacker fits its opponent's product, advertising, price and circulation. Example is given below-
In this advert BMW is using frontal assault strategy against its biggest competitor AUDI.
AUDI is replying the BMW advertisements.
12. Various other Sales Promotion technique used by the company is the Happening Season Offers it presents in the market during Diwali, New Yr, Xmas, Navratri etc to boost short term sales.
Conclusion
We have analyzed the blissful luxury goods and its own target customers and their customers. Also we have analyzed the luxurious car industry of India. From your analyzation we get that demand for luxury goods in India has increased. Also luxurious car demand in addition has increased. From the data we have received that shows BMW has sold total 3619 autos in '09 2009 and Mercedes sold total 3247 vehicles in '09 2009. According to the analyzation we discovered that BMW is currently having 43%, Mercedes 38% and audi 19% of luxury car's market show. We also found that BMW started on 2006 when they had only 9% market show which ultimately shows the progress of luxury car industry. We are able to say luxury goods and especially vehicles are attractive sector for marketers that will attract more luxury car manufacturer to purchase India.
