RESEARCH

How the buying decisions work?

How the buying decision process (as described in this week’s materials) works for your particular industry.

I am intended to work in Motor-sports and used car dealership, I am going to address some of my thoughts on mastering the modern “4Ps” based on my previous business and program experiences.  

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1. People:

Different customers have different demands and financial situation when purchased used car. In our business mode, we highly focus on the group: international background young(under 35) students and successors, for those who chases high-end brands and high performance vehicles. These group of people were easy to influenced by our motor-sports spirit and eager to try high-performance car and involved in our motor-sports acclivities when they purchased the car, which provide the bond of our company and customers.   

On employee side, for now, we was required by wearing our uniform with company logo on it, which could convey a sense of profession and trust. Later, I really would like to try to add some Miami-local style elements on it, like the Sunshine-vacation style shirts and put some Miami style interior decoration in our shop, which might deliver a feeling of relax and friendly to our customer.

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2. Process:

We want to make our customers to experiences different purchase experiences in following ways.

1. Awareness: our customer would discover us via social media and our group racing activities, we posted many videos and pictures about the racing experience, which would evoke our target costumers desire for join the activity and get a high-performance car from us.
2. Furious experiences: through our monthly racing activities, our customer could enjoy the on-track racing experience with us, the fast and furious experience could show our profession and passion to our customer with would lead our costumer’s purchase decision on high-performance car.
3. Purchase and After-Sales: Seamless paperwork and post-purchase support (warranties, maintenance) enhance satisfaction and loyalty.

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3. Programs:

In program, we have learned the ways of CarGurus, the leading position online used car dealer,their innovative programs to both sides of the transaction:

For Buyers: Financing options, price indicator (great deal, good deal, fair deal)  and certified pre-owned (CPO) listings provide added convenience and assurance.

For ourselves: our dealer sale-management tools record our selling data for analysis and indicator the high-valve and more-effective deals that help us to filter the best-selling vehicle types.

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4. Performance:

Customer Satisfaction: Positive experiences, friendly service, and quality vehicles result in repeat business and referrals.

Video recording pre-sale and costumer review: To put more confident on our customer decisions, we would record the process our pre-sale inspection, also we would invite our costumer to do a short video review of their purchase experience by giving some souvenir.

Global Reach: By different language social-media platform, we doing videos and blogs in three different languages in multiple countries, the platform expands opportunities for dealerships to reach a broader audience and investors.