Mercedes Benz New Product

Mercedes Benz has recently launched a new line of product in the transportation market and that is their first motorcycle neueAra. neueAra is the first and only motorcycle manufactured and produced by Mercedes Benz. It is produced and specially designed with key features like no others. First, it is the keyless engine start. With the key in a certain radius, riders will only have to press the button to start the engine. Second, it comes with storage space underneath the seat and a customized key to unlock the seat. Away with the old-fashioned storage box and manual opening, now everything can be accessed from the key. neueAra is a stylish ride for the riders who wants to awe the others and be the talk of the town. Our team has been assigned to research and market to influence the consumer's buying decision. Researching the factors that influence a consumer, their buying decision process and how we can influence them to buy the new product.

Part A: Positioning Statement

"To motorcyclists who need no more than a convenient, stylish bike, our neueAra is a high technology transportation that offers an efficiency, luxury ride that no one will be in your way."

Part B:

CULTURAL

One of the factors that influences the consumers' buying behavior is cultural factor. Culture is the most basic cause of a person's wants and behavior. It's mainly about how ones are brought up. It reflects on ones perceptions and what they see value in.

In Mercedes, all the while they had been working on cars instead. Now they are introducing a bike and it gives the bikers one more choice to choose from. This is the first bike Mercedes is introducing hence; enthusiastic bikers may buy it out of impulsive act. In subculture, groups of people with shared value systems based on common life experience. Therefore when one of the members buys the Mercedes bike, other members may buy to ride together. For an example, Harley Davidson bikers all have the same interest in bikes and they ride together in a group. The Mercedes bikers could do the same. Another example, traffic jams is a common sight in Singapore. Hence there will be a greater demand in motorcycles as it is able to cruise through the jam and reach the desired destination on time. On top of that, Mercedes have its own status in the motor vehicle industry. Therefore, more bikers would buy it to avoid traffic jams and it has a status value in it.

PERSONAL

One of the factors that will influence the consumer buying behavior of our product is the Personal factor such as the buyer's age and life cycle stage, occupation, economic situation, lifestyle and personality & self-concept.

Age & Life Cycle Stage

People change the goods and services they buy over their lifetimes. Buying is shaped by the stage of the family life cycle, which can have a significant impact on consumer behavior. Teenagers would be more interested in buying bright and loud colors as compared to a middle-aged individual who would prefer decent and subtle designs. neueAra target audiences are the teenagers and young adults who are very attracted to things that look fashionable and fanciful. Thus, neueAra will definitely attract them due to its stylist design its wide range of colors to choose from. Furthermore, its cushioned leather seat with a keyless engine, which makes neueAra, looks even more attractive.

Occupation

People today are very concerned about their image and status in the society. The profession or the occupation a person is in hence has as impact on the product they consume. neueAra targets people who are in their late 19's to early 30's. Most of them are either studying or working. Students might be interested to have it as they can ride it to school to avoid traffic jams. They would love to flaunt it too since it is Mercedes Benz first ever posh motorbike. Working adults who hold high position in a big company will also want to buy a luxury vehicle for others to look up to him too.

Economic Situation

A person's economic situation will affect product choice too. Individuals with high income would buy expensive and premium products as compared to individuals from middle and lower income group who would spend mostly on necessary items. Our product, Mercedes Benz motorbike (neueAra), is categorized under the premium brand. It is price at $50,000 compared to the middle-class brand, which is only around $20,000. Thus, most likely only those who can afford it will purchase it.

Lifestyle

Lifestyle involves measuring consumers' major AIO dimension- activities, interest and opinions. Consumer now don't just buy products, they buy the values and lifestyles those product represent. They buy something not because they like it but because it reflects them in some way. Some people might think that Mercedes reflects their character or personality and will buy it even if it is expensive. Others might think that it is just a brand. People who are sporty or love to race with their friends will highly consider buying neueAra whereas others might think that motorbike is just another form of transportation and will not be willing to spend so much on it.

Personality & Self-concept

An individual's personality also affects his buying behavior. Every individual has his own characteristic personality traits, which reflect in his buying behavior. For example, a person who loves sports will always look out for fitness equipment whereas a music lover will spend on musical instruments. neueAra is being portrayed as 'classy' as well as 'sporty'. Thus, those who love unique or sophisticated style might not be as interested in neueAra.

SOCIAL

One of the factors that will influence the consumer buying behavior of neueAra is the social factor. People live in a society with groups and social networks, family and roles and status affecting their lifestyles.

Groups and social networks

Groups that have important and strong influence on Mercedes. Loyal customers of Mercedes can apply for membership as it gives consumers a sense of belonging. Membership group would consume neueAra as they actually belong. Aspiration and the dissociative groups may need Mercedes to hire an opinion leader, who had test drive the new product, to exert