Marketing Trends

126 views 3 pages ~ 629 words
Get a Custom Essay Writer Just For You!

Experts in this subject field are ready to write an original essay following your instructions to the dot!

Hire a Writer

Certain recent and new marketing trends

Certain recent and new marketing trends have a bearing on the 2017 Honda Civic Sedan EX-L. Consumer behavior and wants patterns may have a negative effect on the commodity. Most people, especially in Europe, prefer costly driving and a luxurious atmosphere to pure success. However, in the eyes of the consumer, this 2017 Honda model is considered inexpensive and therefore does not suit or cannot be treated as a premium brand (Canada, 2017). Thus, it probably implies that few customers would prefer buying luxurious vehicles, and this will be a big blow to this product as many customers will go for the expensive but luxurious at the expense of cheap but not luxurious.

In regards to the trends of consumer perception and value

However, in regards to the trends of consumer perception and value, there will be a positive impact on this brand by consumers. This is because it is the most reliable brand and thus being rated among the top of several listings, such as consumer reports. Besides, it offers an outstanding resale value and refinement that cannot be matched with any other automaker brands, and it is also the best reviewed. In this regard, it implies that perception of other customers who have used this product will change the minds of others who had the plan of buying but changed their mind into now buying this brand (Canada, 2017). It, therefore, insinuates that the Honda Company will see a significant increase in sales based on the perception, and ultimately increased profitability.

Additionally, in reference to the change as well as an evolution of the industry

Additionally, in reference to the change as well as an evolution of the industry with regards to competitive dynamic, this product will not match the consumer expectations in future. It is because most auto manufacturers will want to produce more expensive and luxury products as compared to the cheap 2017 Honda Civic Sedan EX-L brand. Besides, when consumers are looking for the non-luxury cars, this product will be among the top ones that consumers will have a wide range to choose from (Canada, 2017). Therefore, it implies that future industry will not favor this brand as more competitive cars will be produced by various automakers including Toyota with the aim of outmatching 2017 Honda Civic Sedan EX-L.

Various relevant opportunities and threats

However, various relevant opportunities and threats can either positively or negatively impact Honda Company with regards to 2017 Honda Civic Sedan EX-L. One possibility is that the Company can enjoy the market of the middle class and low-income earners who intend on having a driving experience. Moreover, Honda products are highly perceived by consumers, and this is a culture that they have maintained and will still maintain (Canada, 2017). Based on this, more customers will recommend purchasing them over cars from companies like Toyota, and as a result, the company will see a significant increase in its sales more than other auto companies in the industry.

The main threat that Honda Company might be faced with

However, the main threat that Honda Company might be faced with in reference to 2017 Honda Civic Sedan EX-L is that there could be substitutes from other companies. Some of these companies may in the future produce the same model but with a sporty and more refined look with the potential of attracting consumers. Besides, it seems that it is almost impossible for the Honda Company in rebranding the outlook of this brand because they are already solidly established within their cheap and reliable brand perception (Canada, 2017). This implies that no matter how cheap and reliable 2017 Honda Civic Sedan EX-L may be, other companies will produce more expensive and luxurious cars of the same brand.

References

Canada, N. (2017). Honda Posts Best August Sales in Ten Years. Canada Newswire.

December 28, 2022
Category:

Business Psychology

Subcategory:

Marketing Behavior

Number of pages

3

Number of words

629

Downloads:

28

Writer #

Rate:

4.8

Expertise Perception
Verified writer

I enjoyed every bit of working with Krypto for three business tasks that I needed to complete. Zero plagiarism and great sources that are always fresh. My professor loves the job! Recommended if you need to keep things unique!

Hire Writer

This sample could have been used by your fellow student... Get your own unique essay on any topic and submit it by the deadline.

Eliminate the stress of Research and Writing!

Hire one of our experts to create a completely original paper even in 3 hours!

Hire a Pro

Similar Categories