RESEARCH

Personal factors influence decision making in motorsports industrial

This is a analysis of how personal characteristics influence purchasing decisions for high-performance cars in the Motorsports industry.

---

According to Marketing Management by Philip T. Kotler and Kevin Lane Keller, several personal characteristics influence a buyer’s decision-making process, including age and stage in the life cycle, occupation and economic circumstances, personality and self-concept, and lifestyle and values. These factors play a crucial role in shaping the behavior of our target audience—buyers of high-performance cars in the motorsports industry.

Age and Life Cycle Stage

For our industry, physical age is a key determinant. Our primary focus is on clients under 30 who are unmarried and without children. This demographic aligns with the nature of high-performance cars, which are typically two-seaters and not designed for family use. The appeal of these vehicles lies in their association with speed, thrill, and individuality, which may not be supported by family-oriented decision-making.

Additionally, our sales channels are heavily reliant on social media platforms, which resonate more with younger audiences who are highly active online. This digital-first strategy ensures that our messaging reaches the right people effectively.

Occupation and Economic Circumstances

Our target customers are typically professionals with high-income jobs or individuals from wealthy families who can support this expensive passion. High-performance cars, along with the costs of modifications and track events, require significant financial investment. As a result, our audience comprises those with the disposable income to indulge in this lifestyle.

Personality and Self-Concept

Buyers in this segment are often outgoing, adventurous, and full of passion. They crave excitement and seek vehicles that reflect their personality and uniqueness. For them, high-performance cars are not just modes of transport but extensions of their identity. This desire for self-expression and individuality is central to their purchasing decisions and informs the atmosphere we aim to create in our advertisements and product presentations.

Lifestyle and Values

Our customers typically live in affluent environments and spend their leisure time engaging in activities such as car meets or motorsport events. These gatherings serve as social hubs for like-minded individuals who share similar lifestyles.

Given their time constraints, these customers prioritize quality and seamless experiences. They value exceptional service and are less inclined to negotiate on price, as they seek compatible and convenient consumption experiences.

Conclusion

Compared to cultural factors, personal characteristics have a greater influence on buyer decisions in the motorsports industry. The decision to purchase a high-performance car reflects an individual’s economic status, personality, and lifestyle more than broader cultural norms. By understanding and addressing these personal factors, we can create targeted marketing strategies that resonate with our audience, differentiate our brand, and drive sales in this niche market.