Published on : Feb 08, 2018
Albany, New York, February 8, 2018: A new research study based on perceptions of auto brands in Canada titled “Perceptions of Auto Brands - Canada - January 2018” has recently been added to the repository of Market Research Hub (MRH). The report offers valuable qualitative and quantitative analysis on how perceptions towards an auto brand shape the buying decision of consumers.
According to the report, the brand perceptions for automotive manufacturers are crucial to success since consumers are rarely in the market for a vehicle. It further says that factors such as safety ratings, gas mileage, past experiences and reputation play a significant role in influencing consumer’s perceptions of car brands. The insightful report begins with executive summary that contains important information including market related number such as market share. The report identifies certain issues such as below average perceptions of Dodge and GMC and effect of negative publicity and reviews in the auto brands perception market in Canada. The report also examines future opportunities available in the auto brands perceptions market that are discussed in the report.
According to the report, car owners around the world continue to consider multiple brands for their next purchase. Gas mileage continues to be one of the most important factors that shapes consumer decision. Also, the perception towards auto brands is also impacted by the durability and long-lasting feature of vehicles. The buying behavior is also shaped up by monetary worries, as traditionally decline in consumer confidence can lead to subdued sales. On the basis of consumer expectations, auto makers are focusing on various strategies. For example, Subaru is targeting consumers who like to go off-roading, whereas Honda and Toyota are maintaining their position in the working class segment. Volvo and Jaguar are investing in building their line of electric vehicles. However, car recalls continue to hurt the brand perception of a company. An exception to this is the performance of VW which garners positive perception even after the emission scandal.
In addition to in-depth analysis on consumer behavior, the report also offers commentary on brand loyalty and key influencing factors. Considering the nature of the industry, consumers always have multiple brands in their mind while making a buying decision. As the time lag between successive automotive purchases is substantial, consumers are more likely to choose a vehicle that is most opportune to their imminent needs. The long time lag creates challenges for automakers to register strong brand presence in the minds of consumers.
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