The Psychology of Buying A Car 🚗
Psych 🧠 - 423/500
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What is it?
Thinking about buying a car? Ever wonder what's going on in your head when making that decision?
This study investigates the factors that influence car-buying behavior in Pune City, India.
The research aims to identify the key elements that shape automobile-purchasing decisions in Pune City, through survey of 265 car owners.
It examines various factors like family needs, social status, brand image, price, and media influence.
Key Findings:
Family needs, social status, brand image, and price significantly impact buying decisions.
Internet is a major influencer. (Of course)
Safety, brand name, technology, build quality, price, and fuel efficiency are prioritized by customers.
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What do I need to know:
Car buying is a mix of factors like needs and social influences.
Companies need to tailor their strategies to align with these factors, especially with the influence of the internet in play.
It may not be the most comprehensive research in scope, and may be limited by its demographic focus.
Source:
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2810090