Buyer Behaviour Analysis - The Psychology of Buying Coursework - 2

Buyer Behaviour Analysis - The Psychology of Buying - Coursework Example The marketing strategy utilised by Mercedes-Benz is mainly customer based. The company reviews the changes in the needs and preference of the customers with respect to technological advancement (Finkbeiner, 2006, p.242). The major products of Mercedes Benz have customization to fit the exact customer needs. This is because; the company produces cars with high focus on a particular group of personalities in their mind. For example, the convertibles mainly target the young while larger models have specific production for official use. The company mainly specialises in the production of highly stable tracks, buses, coaches and luxury automobiles. The company history in producing quality cars puts it among the best automobile companies in the world alongside BMW, Toyota and Audi (Finkbeiner, 2006, p.244). The company’s products are mainly common among the presidents of different countries because of the reputable history in the manufacture of safest cars in the world. Mercedes Benz mainly focuses on a particular group of consumers ranging from businesspersons, managers, celebrities, politicians and the general population. This implies that each product from Mercedes Benz mainly meets the needs of a given group of consumers. Initially, the company did not face much competition across the world in terms of Luxury cars, coaches and buses. This is not applicable in the modern market since competition has increased tremendously, as a result, of the emergence of new vehicle manufacturers such as Ford and Toyota (Finkbeiner, 2006, p.241). Consumer behaviour has a definition as the consumer’s trends when buying a particular product in terms of the factors such as their needs, perceptions, attitudes, motivation and choice. Various aspects in which the product the consumer intends to purchase mainly determine consumer behavior. For example, a customer may have an interest in buying a car for luxury purposes while another