Consumer behavior is critical in determining how consumers choose products while making a purchase decision. Consumer behavior reflects the motivations and the aspirations that drive consumers towards making the purchase decision. Four significant factors influence consumer behavior. These factors include the cultural factors such as trends and social classes, social factors such as reference groups and family, personal factors such as age and lifestyle, and lastly psychological factors such as individual perceptions. The consumer’s purchase decision is influenced by a combination of the aforementioned factors and other characteristics as well. This paper examines mainly the consumer behavior with regard to Chevrolet Camaro brand, and looks at the competitive insights as well as the bid idea.
The cultural factors influencing consumer behavior
Factors involving the cultural environment of the consumers greatly affect their purchase decision. The cultural environment greatly influences the values, preferences, and the common behaviors of the consumers. Cultural factors present in various markets particularly influence purchase of various brands around the world. The subcultures present in every society affect consumer behavior. Subcultures refer to groups of individuals united by similar values or that share the same experiences. Various subcultures that exist in every society include religions, age groups, ethnic groups, nationalities, and others. Chevrolet Camaro appeals more to the younger generation that is inclined to purchase pony cars with great speed and performance. According to Sintumuang (2016), the new Chevrolet Camaro ZL1 has an output of 640 HP, which is almost equivalent to Chevrolet’s sports car models.
Social classes also fall under the cultural factors influencing consumer behavior. There are three categories of social classes, which include the lower class, middle class, and the upper class. Individuals in each of the classes share similar consumption patterns and behaviors. The classes have different purchasing power and purchasing behavior, which ascribes them to their particular classes. Chevrolet Camaro appeals to the middle and the upper class groups. Priced from $25,000, the model is out of reach to those in the lower class. The lower class refers those who earn below $25,000 annually. The cultural trends in place also influence consumer behavior. Social pressure amplifies the cultural trends or the “Bandwagon effect”. Chevrolet Camaro is one of the car models gracing the 2016 New York Auto Show. According to Geier (2016), it is the Motor Trend Car of the Year for 2016. As such, the model is among the trend-setting car models that are in the market. Most consumers are likely to make a purchase of the Chevrolet Camaro brand due to the social pressure or the “bandwagon effect” to purchase what is currently trendy in the market.
Social factors
Social factors significantly affect consumer behavior. The social factors affecting consumer behavior in relation to purchasing the Chevrolet Camaro model include status, social roles, family, and reference groups. Reference groups refer to those groups that particular individuals associate and identify with. Individuals make comparisons about their lifestyle, behaviors or purchasing habits with the reference groups they identify with. Chevrolet Camaro is a luxury sports car that every motorsport-racing fan longs to drive (Chevrolet Camaro, 2016). The latest Chevrolet Camaro model aims to offer motorsports lovers a nimble performance and better driving experience at high speeds. As such, motorsports lovers are more inclined to purchase the Chevrolet Camaro model due to its athletic characteristics. The 2017 Camaro will also feature various sporty characteristics meant to entice motorsport lovers. Since it is a luxury car, the elite class of motorsport fans will mostly purchase Chevrolet Camaro. The aspirational group in this case is the elite class of motorsports fans such as pro driver Roger Penske, who drives a Chevrolet Camaro SS model for promotion purposes (Elmer, 2016).
Related: Chevrolet Camaro Situational Analysis
The social role and status also influence consumer behavior. Social role and status refer to the position an individual holds with respect to his line of work, club membership, group of friends, or even family. The social role and status influence consumer purchase behavior with reference to the Chevrolet Camaro model. The social role of an individual relates to the activities that an individual is entitled as per his or her profession. If for instance, one is a motorsports fan, it is likely that he/she will purchase a high performance car such as Chevrolet Camaro. The status of an individual also determines his or her purchasing behavior. For instance, CEOs and other higher-ranking individuals are likely to purchase Chevrolet Camaro since it is a luxury car. Chevrolet Camaro is high on style and thus attractive to individuals with high status in the society.
Personal factors
Various personal factors such as age, lifestyle, personality, and purchasing power affect consumer behavior. Age is a great factor in determining consumer behavior. The interests and needs of individuals change or evolve with time. As such, a particular product such as a car may be of much interest to a particular age segment. Chevrolet Camaro is a pony car designed for motorsport lovers and enthusiasts. According to young (2016), younger consumers are less interested in engine size but more keen on the horsepower and fuel consumption of a car. The 2016 Chevrolet Camaro features a modern interior designed to attract primarily young buyers. The car’s interior is sleek and designed to look the modern part. This is all in an effort to attract the “tech-conscious shoppers” (Young, 2016). The 2016 Chevrolet Camaro is donned with an attractive color display, touch screens, ambient lighting configurations, and other gadgets that define the younger tech savvy drivers.
The purchasing power significantly influences consumer behavior with regard to Chevrolet Camaro. Purchasing power relates to the affordability of the brand. Chevrolet Camaro brand ranges at $25,000, thus only those who can afford will be able to make a purchase. The lifestyle of an individual relates to the interests, activities or values that one holds. The lifestyle of individuals influences their purchase behavior. Personality also plays a great role in influencing consumer behavior. Personality relates to the character traits on individuals. Consumers who have an outgoing personality are likely to purchase pony cars such as Chevrolet Camaro compared with those with conservative personalities.
Psychological factors
The consumer behavior of Chevrolet Camaro’s buyers is also driven by various psychological factors such as motivation, perception, learning, beliefs and attitudes, and among others. Motivation is the driving force towards making a purchase or developing a purchase behavior. Motivations influences consumer behavior at the subconscious levels. In order for brands to encourage a purchase behavior among the consumers, they ought to create a need that acts in the mind of the consumers. The consumers act in turn to satisfy the need. The 2016 Chevrolet Camaro brand has more torque and horsepower than its closest competitor does, the 2015 Ford Mustang (Young, 2016). General Motors has successfully created a “need” in the minds of motorsports lovers to purchase a car that is not only lighter, but has more horsepower and torque.
Motivation closely ties with perception. Perception refers to the way individuals interpret information they receive. The perception process involves three distinct mechanisms that include selective attention, selective distortion, and selective retention. Selective attention refers to the process whereby individuals focus on a few details about a product. Likewise, Chevrolet Camaro consumers focus on a few details that General Motors advertises regarding the brand. General Motors focuses on the pony characteristics of the brand while neglecting other features such as fuel consumption. For instance, GM’s website describes the brand as the “most dependable sporty car”.
Competitive Insights derived from the Consumer Behavior Patterns
Application of modern technology: One of General Motor’s competitive insights relates to the application of modern equipment and gadgets, which makes the Chevrolet Camaro brand attractive to the younger generation. The 2016 Chevrolet Camaro’s design has modern equipment that entice the younger generation. The 2016 Chevrolet Camaro has an attractive color display, touch screens, ambient lighting configurations, and other gadgets that define the younger tech savvy drivers (Young, 2016). The brand employs energy saving technologies such as Direct Injection, automatic Active Fuel Management, and Valve Timing, all which enhance its fuel efficiency. Other technologies that make the brand impressive include the Apple CarPlay that enable synchronization with iPhone, voice-activated controls, wireless phone charging, Head-Up Display, power seats with Memory Package, and others.
Modern design: The 2016 Chevrolet Camaro is built on a smaller and lighter architecture than the previous brands. The modern design gives the Camaro an “athletic” shape. The modern Chevrolet Camaro has lost over 390 pounds compared to its predecessors. This gives the car better performance in terms of braking, maneuvering corners, and a nimble performance. The brand has body features such as rear quarter panels and a fastback profile that enables it to standout from other brands. Its presence is therefore hard to ignore. The modern design appeals to the personal factors such as age and lifestyle. It also appeals to social factors such as the social role. The modern design attracts the younger generation more compared to those above the age of 50.
Competitive pricing: Chevrolet Camaro’s pricing is competitive in nature in order to attract a particular class of consumers. The 2016 Chevrolet Camaro ranges at $26,695, which is relatively expensive than its closest competitor in the sports market, the Ford Mustang, which goes for $25,045. This price means that it is in the luxury group of cars, available to the middle class and the upper class consumers.
The Concept of “big idea”.
The concept of “big idea” in advertising refers to advertising methods that provide a vivid connection with the target audience of consumers of a product, and which are able to create and sustain a competitive advantage for a product. When firms use the concept of bid idea in advertising, they primarily aim at communicating the brand to consumers. The firms often create a strong message about a product, which they push to the consumers by appealing to their needs. The “bid idea” is thus what the firm tries to communicate to the consumers concerning a particular brand. A “big idea” should be able to transform beliefs, attitudes, or the behaviors of consumers regarding a particular product. The firm championing the “big idea” should own it wholly.
“Big idea” about Chevrolet Camaro.
2016 Chevrolet Camaro: Pony appearance
(Brauer, 2016).
The Chevrolet Camaro has four driver modes that the driver can use depending on the need. The driver modes include: Sport, Track, Snow/Ice, or Touring. The vehicle is fitted with an independent four-wheel suspension system that alters the quality of the ride depending on the mode selected. The quality of the ride changes between comfort and performance depending on the mode selected. This gives the car multiple functionality; the ability to act like a normal car offering quality ride, and the ability to shift to a sports car with emphasis on performance.
References
Brauer, K. (2016, Nov. 16). 2016 Camaro: Chevrolet breaks the rules on how to launch a new performance car. Forbes.
Elmer, S. (2016, Apr. 20). Chevy Camaro SS to pace the 100th Indy 500. Autoguide. Retrieved from http://www.autoguide.com/auto-news/2016/04/chevy-camaro-ss-to-pace-the-100th- indy-500.html
Geier, B. (2016, Nov. 17). This the Motor Trend’s Car of the Year. FORTUNE.
Chevrolet Camaro. (2016). The 2017 Camaro. Retrieved from http://www.chevrolet.com/camaro-sports-car.html#
Sintumuang, K. (2016, March 25). 10 Standout cars at the 2016 New York Auto Show. The Wall Street Journal.
Young, A. (2016, Sep. 23). 2016 Chevrolet Camaro: GM says the sixth-generation Camaro has been completely overhauled, with more muscle than the Ford Mustang. International Business Times. Retrieved from http://www.ibtimes.com/2016-chevrolet-camaro-gm- says-sixth-generation-camaro-has-been-completely-overhauled-1925759
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