Do you know what is world ranking of Mercedes-Benz in most famous brands? Do you know what is the situation of Mercedes-Benz in cars industry? Do you know the factors that affect the purchase decision of customers while buying cars?
Mercedes-Benz is a famous brand of luxury cars. These are German made cars and are known as status symbol of high class consumers. All customers have their own values and beliefs while purchasing a car. There are several factors responsible for the purchase decision. Car industry is growing very fast worldwide. There is a rapid change in trends and consumers preferences for comfortable, reliable, highly efficient and economical cars.
Mercedes-Benz company has to take care of consumers choice to maintain its position in the market and also for further growth in the car industry. The company is adapting new technologies and techniques to make its cars more famous among the customers. It is also introducing low priced luxury in the market. The company should take steps to know the exact consumer demand and needs so that it can provide them a suitable car.
Introduction & History
Mercedes - a Spanish girl's name meaning Grace'.
Mercedes-Benz is a well known brand of luxury cars. These are German made cars with classy European styling. Also it ranks as the world's second most famous brand (after Coca Cola). Daimler-Motoren-Gesellschaft (DMG) delivered its first Mercedes on 22 December 1900. After that the company started a dynamic development culminating in the inception of the global company DaimlerChrysler AG in the late 20th century. Today Mercedes-Benz is the most successful premium brand. Its technical perfection, quality standards, innovative impact and numerous car legends such as the 300 SL Gullwing are unique .
Gottlieb Daimler and Carl-Benz are the founders of the famous luxury cars - Mercedes'-Benz. His first four-wheeler, the Victoria, was built in 1893. The first production car was the 1894 Benz Velo which participated in the first recorded car race, the Paris-Rouen race. In 1895, Benz built his first truck. In 1990, Daimler had produced a special car for Emil Jellinek. Jellinek named the car after his ten-year-old daughter Mercedes. The new Mercedes was lighter and smaller with 35 hp and a top speed of 55 mph.
Growth of Company
Mercedes-Benz launched their biggest and most prestigious car to date in 1930. The 770 Grosser was powered by an 8 cylinder, 7.6 litre engine. A car for the truly wealthy of the world, it was quite an automobile for showing off in a world economy still reeling from the Wall Street Crash of 1929.The cars of the 1930s produced great racing success for Mercedes-Benz.
Now Mercedes - Benz has many models in the market ranging from $ 34,995.00 to $151,150.00. The main competitors of the company are BMW and INFINITY.
Products of Mercedes-Benz Company
Passenger cars: safety and comfort from A to S class.
Camper Vans : Viano MARCO POLO and Sprinter JAMES COOK
Buses: Medio, Sprinter Classic, Citaro, Citaro G etc.
Business analysis of Mercedes-Benz involves the detailed review of factors such as consumer demand, competition, new product development, production costs, marketing costs and profitability for each proposed new product.
Consumer Demand: Now a days, consumers are very smart in selecting a car. They look for the best option available in the market. Their demands are highly efficient, affordable cost, reliable, comfortable and stylish models cars. Some consumers also consider that the cars should be environment friendly.
Competition: Mercedes-Benz is facing a very strong competition from Japanese cars and also from domestic cars. Japanese cars has taken a considerable market share of Mercedes cars. For example: In India, government was providing Mercedes cars to its VIPs and...
Bibliography: 10. Solomon R., Zaichkowsky L., Polegato. Consumer Behavior. Toronto, Ontario: Prentice Hall, 2002.
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