The effect of Price Elasticity of Toyota on consumer sonsumption and Toyotas pricing decisions in Saudi Arabia - Essay Example

Only on StudentShare

Extract of sample
The effect of Price Elasticity of Toyota on consumer sonsumption and Toyotas pricing decisions in Saudi Arabia

Several efforts have been dedicated to measure the reaction of consumers when price movements occur in a certain product (Bordely, 1993; Hoch, Kim, Montgomery, and Rossi, 1995; Bernstein Research, 2007; Yoon and Tran, 2011; Copeland and Hall, 2011). The focus ranges from sudden to gradual changes in prices. This study attempts to highlight consumer response to price adjustments in Toyota vehicles in Saudi Arabia. During the course of this research, the following takeaways are expected to be obtained: (1) understanding of consumer behavior in relation to incremental price changes in selected models of Toyota; (2) determining the extent of impact that price movement has on car owners and potential car buyers; (3) improving future price strategies; and (4) shaping further the competition in the automotive industry in Saudi Arabia. In Document 1, I will try to provide a detailed outlined of the research and provide an appreciation on the flow of the discussion. Issues raised will be discussed in brief and concepts will be introduced for better understanding. This section of the study also details the rationale behind the research including the objectives and main research questions to be addressed. ...
Download paper

Summary

DOCTOR OF BUSINESS ADMINISTRATION Definition and Mapping of Research Questions Document 1 The effect of Price Elasticity of Toyota on consumer consumption and Toyotas pricing decisions in Saudi Arabia Introduction Overview Understanding demand price elasticity is critical in making quite a number of critical corporate decisions, especially with regard to product pricing and promotion (Bordley, 1993: 455)…
Author : araynor

Related Essays

The effect of price elasticity in the decision of consumers in Saudi Arabia to acquire Toyota SUVs
The paper tells that price elasticity is an important element when introducing products in a competitive market. As quoted from the book Principles of Economics by Alfred Marshall, “the elasticity (or receptiveness) of demand in a market is significant according as the amount demanded increases much or little for a given fall in price, and diminishes much or little for a given rise in price". Parkin, Powell, and Matthews noted that the following affect the elasticity of price for a certain commodity: availability of substitute goods; percentage of income; necessity; duration; brand loyalty;…
27 pages (6777 words) Dissertation
Pricing and Distribution in Marketing Decisions
On the other hand, Lexus is regarded as a luxury car. It is manufactured by Toyota Motor Corporation. Currently, Lexus features as Japan’s largest-selling model of premium cars. OrlandoSentinel (2011) reveals that for many years, the Ford Escort was among the top selling auto mobiles in America. The Ford Motor company uses the value pricing strategy to gain a market share in the global market. This strategy has been used as an initial step of eliminating the common costly customer returns. This initiative seeks enhance the customer’s buying experience with a view of curbing the distrust in…
3 pages (753 words) Essay
The Development in Saudi Arabia
It also experience major government controls over various economical activities. The growth rate of the country since 2000 has been varying with the highest being in 2004. The country is ranked as the largest exporter of petroleum in the world and has a very important role to play in Organization of Petroleum Exporting Countries (OPEC). Currently, the country is focusing on encouraging the private sector to invest in the country in order to create more employment opportunities for the local citizens in order to reduce the unemployment rate in the country that currently stands at 10.9%. Some of…
6 pages (1506 words) Essay
The Impact of Price Changes on the Brand Equity of Toyota in Saudi Arabia
. 5 Table of Contents . 6 1. Introduction . 8 1.1 Background of the Research Problem . 9 1.2 Problem Statement . 11 1.3 Aims or Purpose of this Study. 12 1.4 Research Objectives . 12 1.5 Research Questions . 13 1.6 Significance of the Study . 13 1.7 Rationale for Choosing the Research Topic. 13 1.8 Research Procedure .
55 pages (13805 words) Essay
Automobile (Toyota in Saudi Arabia) customer reponces to price changes according to cusomer segmentation
. 4 1.2 Problem Statement . 8 1.3 Aims or Purpose of this Study. 9 1.4 Research Objectives . 9 1.5 Research Questions . 10 1.6 Significance of the Study . 10 1.7 Rationale for Choosing the Research Topic. 10 1.8 Research Procedure. 12 1.9 Scope and Limitations . 13 1.10 Chapter Summary . 14 2. Literature Review . 14 2.1 Conceptual Framework and Research Hypothesis . 15 2.1.1 Conceptual Framework . 15 2.1.2 Research Hypothesis for Further Verification .
5 pages (1255 words) Essay
Understanding eWOM (electronic word of mouth) effect on consumer purchase decisions
Understanding eWOM (electronic word of mouth) effect on consumer purchase decisions …
8 pages (2008 words) Research Proposal
Country Analysis Report - Saudi Arabia
Being a growing country, the government has launched strategies to encourage integration of the digital technology within the business sector. In this light, this is a potential market for ICT infrastructure. If Apple invests in this business sector, it is likely to benefit from high market demand, high customer loyalty, less competition and a stable market position. With a high bargaining power, the organization should expect more profits from this environment. These benefits are expected to last in the long term. The challenges that exist in this market sector cost of imports, delay in…
14 pages (3514 words) Research Paper
Got a tricky question? Receive an answer from students like you! Try us!