Hybrid Vehicle Market Analysis Essay

Cross Auto Industry Analysis

Hybrid Auto Industry Analysis

Guide

This examination examines the hybrid vehicle market and industry by using a detailed look at the market, styles, competition, and a SWOT analysis. We all will look at hybrid electric vehicles which usually typically combine the internal burning engine of a conventional motor vehicle with the electric battery and electric motor of the electric car. For uses of our analysis, further attention is given to Toyota, a leader in the cross types industry, in order to provide a standard to get the market and a benchmark for comparison and expectation of trends.

The marketplace

The target industry, or part of the qualified obtainable market attacked, for Hybrid automobiles may be identified by examining the major demographic, psychogenic, geographic, and behavioral segmentation variables.

Market Segmentation

The hybrid car target market is definitely divided into several demographic groups including era, life-cycle stage, gender, era, and cultural class. The customer is between 30 and 50 years outdated and of no specific racial, religious history, or male or female (hybridcars. com, n. deb. ). They are really affluent, well-informed, and well-informed adults classed in the socio-economic segment. They may be commonly in higher bureaucratic, administrative or perhaps professional careers and of higher middle category. Additionally , they may be likely to be committed with family responsibilities. Therefore , they are not only motivated to purchase environmentally-friendly vehicles although also able to pay a higher price due to their greater amount of disposable salary.

Psychographic Segmentation

Within the determined demographic, two different groups, innovators and thinkers, had been identified based upon their differing personality traits, way of life, and principles. Innovators will be successful, sophisticated, and lively with high self-esteem. Their very own purchases typically reflect grown tastes for relatively high end, niche-oriented product or service. Thinkers are usually more mature, satisfied, and reflecting group of people who have are motivated by ideals, knowledge, and responsibility. Thinkers recognize environmentally friendly impact of motoring and would like to do something about it. They are really seeking to share their concern and simplicity their conscience. The two identified psychographic teams for the hybrid vehicle market were identified to obtain higher economic resources.

Geographic Segmentation

Large portions from the target market intended for hybrid cars are in urban areas with populations that desire to get a car with environmentally friendly features (hybridcars. com, n. deb. ). This could be attributed to the issues of air pollution and over-crowding being more widely perceived as a serious issue in bigger cities.

Behavioral Segmentation

Behavioral variables which includes benefits, consumption rate, and attitude have already been identified as beginning points to get constructing market segments for hybrid cars. Buyers can be classified according to the benefits that they seek. Cross types vehicle buyers anticipate energy prices to increase more quickly than do non-hybrid consumers, for that reason they anticipate a return issues investment since fuel prices increase. Crossbreed consumers as well drive fewer miles on average and keep all their automobile much longer than the person with average skills, often much more than five years (hybridcars. com, n. d. ). Finally, they are offering more to get an eco-friendly product and wish to do something to help reduce vehicle air pollution.

Quantitative Evaluation

The hybrid automobile market can be described as being in the launch or developmental stage in the product life circuit. The current marketplace for crossbreed vehicles is small , including only 1. 6% of all fresh light cars for the month January 2007. Yet , as Number 1, Hybrid Percentage of Total ALL OF US Light Duty Automobile Sales, signifies the market has become steadily raising in recent years and the expectation would be that the market is anticipated to grow. In January 2007, hybrid sales increased 11% to seventeen, 591 (Green Car Our elected representatives,...