Smaller Cities Spur The Growth of Luxury Car Market, Study by MICA Faculty Dr Varsha Jain Reveals
An article titled “Marketing luxury cars in India” authored by Dr Varsha Jain, Assistant Professor, MICA and Kruti Patel, Chairperson, Dernier Cri was published in Warc – January 2013.
Ahmedabad, Gujarat (I-Newswire) February 13, 2013 - The research article studies how companies like Mercedes, BMW, Audi etc have been marketing to the Indian consumer.
The paper highlights aspects of the Indian luxury market and how that relates to sales of luxury cars.
The paper presents data about the Indian luxury market, and what it means to the luxury car market. It outlines the segment that consumes luxury products. This segment has two million households in India, earning US$100,000 annually, and is expected to grow by13% per annum. These affluent Indians travel abroad for business as well as for leisure very frequently, and hence are exposed to luxury items by various lifestyle TV channels, upmarket magazines, and online sources.
It derives deep insights into the market like “Indian consumers in the 25-34 age group account for 57% of luxury purchases. And luxury brands are primarily purchased in Delhi and Mumbai, which account for half of all luxury sales in India.”
The paper focuses on showcasing trends in the luxury car market, the most important one being that car makers are focusing on smaller cities as well as the metros. Luxury car dealers have been setting up in smaller cities such as Jaipur, Kochi, Chandigarh, Nagpur, Pune, Amritsar and Ludhiana. Another trend which was observed was that promotional strategies such as events, training sessions, and private parties, have been undertaken by luxury auto brands in the smaller cities. The focus was getting the potential customer acquainted with the brand. These efforts paid off – the largest single order from Mercedes-Benz in India came from Aurangabad, a relatively small city in Western India; the city's residents ordered 150 Mercedes cars.
About Mudra Institute of Communications
Mudra Institute of Communications
Shela, Ahmedabad - 380 058 Gujarat, India
Phone : 91-2717-308250
Published On:February 13, 2013
Print Release:Print Release
If you have questions regarding information in this press release contact the company listed above. I-Newswire.com is a press release service and not the author of this press release.The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. As some companies and PR Agencies submit their press releases once per week,month or quarter, make sure to check the official company website for accurate release dates as our site displays the I-Newswire.com press release distribution date only.We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for or omissions in that information or for actions taken in reliance on that information.
Bankruptcy at Lowest Level Since Financial Crisis Began
New Orlando Discount Ticket Website Launches
Steven Kaller Finds Unique Way To Ask His Crush To Prom
Your-Finance.co.uk Matches Unsecured Loans Applicants with Most Suitable Lenders and Programs
Payday Loans In One Hour Made Possible with Easy Application and Processing at PaydayLoansInOneHour.com