A STUDY ON PERCEPTION, BUYING BEHAVIOR AND SATISFACTION LEVEL TOWARDS LUXURY CARS IN COIMBATORE CITY.

International Business

The luxury car market is primarily favored by the social elite, drawn to these vehicles for their comfort, features, and premium materials. Serving as status symbols, luxury cars signify success and affluence. Over the past decade, the luxury car segment has witnessed substantial growth, with German brands like BMW and Audi focusing on combining luxury with competitive pricing. Volvo and Mercedes-Benz prioritize safety and comfort. In India, the luxury car market has seen a surge in demand, with prices starting at 40 lakhs. Factors such as improved road infrastructure, government incentives, and foreign direct investment have contributed to this growth. The paper explores customer satisfaction levels and buying behavior in the luxury car segment, considering brand image, marketing strategies, and service quality. Additionally, it delves into the impact of social media and advertisements, emphasizing the role they play in attracting customers. The presence of numerous brands and the competitive market necessitate a focus on customer satisfaction. The study concludes that, in the current market trend, luxury cars are not merely vehicles but emotional investments that reflect the evolving preferences and passions of customers. In the dynamic evolution of the luxury car market, customer satisfaction emerges as a critical aspect, entwined with elements such as brand image, service quality, and marketing approaches. The expansion of India's luxury car segment is driven by a growing young population, the economic impact of the IT sector, and consumer passion. The sustained allure of luxury cars is bolstered by niche marketing, digital promotion on social media, and a commitment to safety standards. The study emphasizes the need to strike a balance between demand and supply to cultivate a strong brand image in this fiercely competitive market.

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