SMART Cars Market Analysis

Date:  2021-03-01 22:58:45
2 pages  (550 words)
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This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.
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This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Over the recent years, there existed a frenzy and a flurry of consumer activities from the introduction the SMART automobiles or car brands on the market. Daimler AG has risen to become a major player in the SMART car brand through it manufacture of the subcompact and the microcar brands of vehicles. The company predominantly works hard in manufacturing the SMART car brand in more than 46 countries around the world that include all the continents. Recent consumer reports have shown that the production of the Fortwo SMART car brand has surpassed more than 1.7 million units this year alone. The larger consumer based off the SMART automobiles brand began long ago in the 1970s with the Mercedes car brand. There are various behaviors entangled to the purchase of SMART cars as illustrated by numerous reports.

The first consumer behavior associated with the skyrocketing SMART car sells the definite need for the vehicles. The advancement in technology is predominantly realizable in all the facets of the human life. Consequently, there was no way in the world that the car manufacturing industry was not going to follow suit and develop a highly advanced vehicle that would interact with the user making car driving an easily manageable experience. Consequently, the SMART automobiles markers have used the technological advancement trends in the car manufacturing industry to help sway the consumer behavior. Resultantly, the advancements result to making the consumer thinks that they indeed need and require the SMART automobiles. Moreover, the pictures of the SMART cars further help to sway some of the consumers into buying and loving the model and the brand that is SMART automobiles. The slick design of the vehicle further contributes to influencing the consumer behavior.

Europe is the worlds leading consumer good market per capita regarding market production, market research, product innovation, product manufacturing, product branding and finally product marketing. Moreover, Europe boasts of having a highly skilled workforce based in the consumer product area. Global statistics in the year 2012 showed that Europe had the largest consumer good market in the world with an estimation of more than $419.4 billion. Subsequently, the global market research also revealed that that Europe companies involved in the making of consumer goods had a much wider variation as the subsectors that existed within the same industry. The existence of the subsectors within the consumer goods industry in Europe market allows the existence of both small and large companies in the SMART automobile manufacturing.

One of the factors that have continually favored the growth of the SMART cars consumer market is the regulation on private spending within the confines of the SMART cars market. The stringent regulatory measures introduced into the SMART cars market has over the years contributed to the availability of a stable private spending that has been a little over EUR 1,845. The stabilization of consumer market privatized spending lead to the growth of the SMART cars consumer market by 1.8% in the 2012-13 fiscal years. Most importantly, SMART cars marketers utilized internet resources to increase awareness of the market consumer products, a factor that paid off quite heftily with an estimated 65.8% of the SMART cars production. The excellent geographical position of SMART Cars Company in German has also played as one of the factors that have increasingly favored the products consumer market growth.

 

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