How is the development of hybrid car for the next 5 years in the United Kingdom - Essay Example

How is the Development of Hybrid Car for the Next 5 Years in the United Kingdom? Name of the Student Enrollment no.: Degree Name: The University of Lincoln Date of Submission: 10 May 2013 Word Count: 4000 Abstract This research study aims at identifying the development of hybrid cars in UK in the next 5 years. In order to conduct the research, primary data is collected through questionnaire survey. The questionnaire was distributed among customers belonging to different age group having different income level. A critical review of the literature has been done to support the primary data on hybrid cars with theories of consumer behaviour and perception. It was found that customers see a hopeful future for hybrid cars but there are certain misconceptions due to which hybrid cars are not so popular till now. However, most of the customers are willing to try out hybrid cars in future for fuel efficiency. Table of Contents Abstract 2 Chapter I: INTRODUCTION 5 1.1Background 5 1.2 Research problem 6 1.3 Rational of the Study 7 1.4 Research objective 7 1.5 Research Questions 8 1.6 Outline of the Study 8 Chapter II: LITERATURE REVIEW 9 2.1 Significance of Consumer Behaviour Research in Marketing 9 2.2 Consumer Decision Making Process 10 2.3 Factors Affecting Consumer Decision Making Process 11 2.4 Customer Segmentation, Targeting, and Positioning 12 2.5 Retail Theories and Strategies 13 2.6 Retail Marketing Mix 14 Chapter III: METHODOLOGY 15 3.1 Research Method 15 3.2 Data Collection Technique 16 3.3 Data Collection Instrument 17 3.4 Ethical Consideration 17 Chapter IV: RESULTS 18 Chapter V: ANALYSIS AND DISCUSSION 21 Chapter VI: CONCLUSION 21 References 23 Appendices 26 Appendix: 1 26 Chapter I: INTRODUCTION 1.1 Background The turnover of the automobile industry in UK has improved after the recession, as it was around £41 billion in the year 2009, which has escalated to £49 billion in the year 2010. However, it was £50 billion before recession. The value of vehicle export also increased in 2010 to £29 billion, which is even more than the pre-recession figures. All this statistics indicates that the automobile industry in UK contribute majorly towards the national income of the country (Aaker, and Biel, 1993; AlShebil, 2007). UK automobile segment contribute 11 percent of trade profit for the country. The popularity of automobile from UK can be understood from the fact that almost four vehicle out of five are exported out of the country. It has been many years the vehicles manufacturers are trying to reduce the environmental impact on the manufacturing process and products (Elliott, and Percy, 2007). This has been done in order to maintain balance between environmental care, economic progress and social responsibility. It was the automobile industry in UK who first issued their sustainability report, and expressed their environmental achievements in that report. In the past 10 years, this industry has been making strong strides to reduce the impact of products throughout the lifecycle of the product (Franzen, and Moriarty, 2008). Improvement in the production process has been seen in the automobile industry since 2000. For example the usage of water has been cut by around 34 percent, and the CO2 emission has reduced by 17 percent. It has been also noticed that around 73 percent of less dissipate enter for landfills (Gelder, 2005). Automotive industry of the country is engaged in revolutionising the transportation system in the country. The automotive sector of UK is considered to be one of the largest investors in research and development, which assist in delivering sustainable motoring in 21st century. One of the outcomes of such initiatives is the hybrid cars (Holt, 2002). The market for hybrid cars are booming and the demand is good, if not high like the conventional cars. However, statistics shows that the sales of hybrid cars escalated from 9000 units to 39,880 units in the year 2006. Companies like Toyota sold 91 percent of hybrid cars in UK and Honda sold about 3,410 (King, 2006). The sales of hybrid cars have increased with every passing year. The drivers driving hybrid cars even get the benefit of lowest excise duty, which is also called car tax. This is based on the emission of CO2. In the central part of London, the hybrid cars are exempted from congestion charge, which amount to £8 per day. Under the present regulation, the greenest car gets 100 percent discount from the congestion charge. The automotive industry spend maximum fund in innovation. Around 4 percent, of the annual turnover, that is approximately €20 billion has been invested by the automobile industry for research and development (Noergaard, 2005). The results are clear, and landmark innovation can has been witnessed in the 20th century. 1.2 Research problem Due to increasing alarm for global warming, and increasing pollution, automobile companies around the world are looking out for ways to reduce carbon footprint that is spreading through increasing usage of automotives. However, the problem is that consumer behavior and their preference for such eco-friendly hybrid cars in future are yet unknown. In this case the focus would be on the customers of UK. 1.3 Rational of the Study The global automobile manufacturer are facing several challenges simultaneously at the present moment; firstly due to financial crisis, survival has become difficult, and secondly, due to rising usage of automobile, environmental damages are indicating a polluted future for everyone. In such a scenario innovation is difficult because research and development requires fund as well as customers. At this cross road, it becomes important for the researchers to bring up this topic and analyse the consumer’s decision making criteria, their attitude and behaviour towards hybrid cars in the next 5 years in UK. In this study the significant of consumer behaviour research would be identified. This will assist the automobile manufacturers to forecast the demand of hybrid cards in the near future in UK. The influence of decision making process and their implication on the marketing strategies of the automobile manufacturers are immense, and it would be discussed comprehensively in this study. 1.4 Research objective The objectives for this study are developed in line with the problem areas that have been already discussed, so that the goals for conducting the research are clear to the readers. The major objectives of this research study are stated below: To identify the significance of consumer behaviour research in order recognize the demand hybrid cars can generate in future. To study the decision making process of the consumers with reference to purchase hybrid car. To spot the factors that influences the marketing strategies of the automobile manufacturers, in relation to consumer behaviour. To understand the retail strategies and marketing mix for evaluating the development of hybrid cars in UK, in next 5 years 1.5 Research Questions The research questions have been developed keeping in mind the objectives of this study. They are stated below: Q1: What role does consumer behaviour research will play in development of hybrid cars in UK in future? Q2: How does the consumer decision making process will affect the development of hybrid cards in UK? Q3: How the retail factors, marketing strategies and consumers’ preferences will affect the progress of hybrid cars in the next 5 years in UK? 1.6 Outline of the Study The study is based on the theme of consumer behaviour and its significance for the hybrid automobile car manufacturers. The study is initiated with a brief background on the automobile industry in UK, innovation in this industry, challenges, and hybrid cars. A critical analysis of the literature would be done, which would include a comprehensive discussion on the theories of consumer behaviour, in relation to hybrid cars. The literature review would be specifically designed to support the primary research with a theoretical framework. This would also help in answering the research questions. Further, a primary research would be conducted, and the data derived would be analysed and probable solution can be identified for the stated research problem. Chapter II: LITERATURE REVIEW 2.1 Significance of Consumer Behaviour Research in Marketing Every individual and his/ her needs and wants are unique, which vary from one person to another, which proves that consumers are heterogeneous. However, there are like minded customers too, who cluster together. For a marketer it is impossible to offer products for every individual, but they can offer customised products to like-minded customer groups, who prefer similar products. However, in order to identify the segments, market research is necessary, which assist the marketers to identify the preferences of these customers, so that they can be clustered into groups (Thomas, 2008). Marketers utilise the marketing concepts in order to set parameters for the market research and accordingly study the consumption patterns and consumer behaviour. In this case consumer behaviour research play a significant role because developing hybrid cars and venturing more funds on more advanced models of hybrid cars would depend on the attitude of the customers towards hybrid cars than conventional cars, and towards procuring a vehicle which is cost and fuel efficient and eco-friendly (Atkielsk, 2001). Based on the information collected through market research regarding customer preference and information of hybrid cars, the automotive manufacturers will develop hybrid cars keeping in mind a future perspective. Apart from preference, it also assist in understanding the consumption pattern of the consumers, which also assist the automotive manufacturer decide where majority of customers prefer hybrid cars at such price or not (Czinkota, and Ronkainen, 2007). 2.2 Consumer Decision Making Process The customer decision making process, which is also called the consumer purchasing process has several step through which even customer undergo while making purchase decisions, which is also applicable in case of hybrid cars. The five stages of consumer decision making process are, a) Problem identification, b) Information investigation, c) Evaluation of alternatives, d) Purchase decisions, e) Post-purchase behaviour (Gilbert, 2003). a) Problem recognition is the need or requirement of the consumers, which drives them towards that product or service. The requirement of hybrid car have been felt in the early 1990s, but it got recognition as consumers as well as automotive manufacturers felt the need to innovate a new product which would be suitable for the present as well as for the future. Hybrid cars are preferred by consumers for its various benefits (Keegan, 2002). b) Information search is essential because many automotive companies are there in market, which are producing hybrid cars, but hybrid cars are innovative products and consumers cannot invest money on vehicle unless they trust the company and the brand. This is the reason why Toyota sold 91 percent of the hybrid cars among all its competitors in this automotive segment. Toyota is a trusted brand and customers have faith in whatever product the company offers (Kotler, 2009). c) Customers look out for alternatives in order to match the features. In case of cars fuel efficiency, and in case of hybrid cars, their fuel efficiency, cost, mileage in comparison to the petrol and diesel cars, and the most important thing, the size of the car. Apart from this a strong brand name is also an important thing which consumers prefer, for which they judge every alternative (Kumar, and Sharma, 1998). d) Finally the purchase decision is made. Consumers nowadays conduct a systematic research before purchase any products, so it is a proved fact that vehicle which is fuel efficient and eco-friendly is preferred even at a slight higher price if the quality and features are good. In case of car purchase, which is an expensive product is usually preferred from well-known companies, even when it is a hybrid car because of the excellent after sales service which these companies offer (Lamb, Hair, and McDaniel,). e) The post purchase behaviour depends from person to person because customers opting for hybrid cars from top brands such as Toyota or Honda remain satisfied using a quality product from one of top auto makers. The consumers who cannot buy those may opt for other companies, but still desire to procure the best some day (Lao, 2001). 2.3 Factors Affecting Consumer Decision Making Process There are various factors which affect the consumer purchase decision making process, such as complexities in decision-making, social influence, individual influence and situational influence. Decision-making challenges come up in cases when consumers take decisions for bigger investments such as buying a house, or purchasing a car. Generally customers cannot afford to incur loss in such purchases, so extensive research is done to consider several complex factors. Hybrid cars are still not so popular in many countries. Tough in UK hybrid cars are extensively used by customers, but for the middle-class segment investing for hybrid cars I still a challenging decision (Little, and Marandi, 2003). Social influences play an important role. The customers usually follow the opinion of their friends, relatives, or professional groups during purchase. Since everyone is opting for eco-friendly products, and opting for hybrid cars have become more of a fashion, customers would be attracted towards it. Apart from this, situational influence, such as global warming, increasing fuel prices are leading customers to prefer hybrid cars (Mohr, Sengupta, and Slater, 2010). 2.4 Customer Segmentation, Targeting, and Positioning As per the objective of this study, the discussion on consumer behaviour is incomplete with relevant marketing strategies to support them. There are many segments of customers, when it comes to purchase of automotives because automotive customers can be segregated on the basis of age, preference, income group, gender, and requirements (OECD, 2012; Stone, and Desmond, 2007). This is also applicable in case of hybrid cars because customers who can afford luxury car would prefer a 100 green fuel, luxurious hybrid car, which is perfect combination of style and quality (Okonkwo, 2007; Richter, 2012). However, it is a true fact that hybrid cars were costlier than other cars due to their features, but with the increase in revenue and demand for such products, manufacturers can control cost to price these hybrid cars lower than what it was. Hybrid cars are being positioned as the future generation cars which are the future of the automotive industry and transportation system in UK (Pahl, and Richter, 2009). 2.5 Retail Theories and Strategies The marketers spend excessive time thinking and figuring out the preferences of the customers. In this situation the retail strategies and theories assist in formulating framework for grabbing customer attention. The theories that would be discussed in this study are stated below: Perception Theory: Seeing two people on a Sedan class car, and convincing them to go for a hybrid car is called figuring out the perception of the customers and manipulating their purchase decisions. Customers need to be convinced by first understanding their perception for the particular product. Then by trying to modify their perception, the decision of the consumer can be altered and affected (Ferrell, and Hartline, 2010). Theory of Exposure: The customers are being exposed to various advertisements, social media, and other promotional activities, where they are showered with various information related to new products. This proves the more hybrid cars are promoted among people; they would come to know about it more. Generally advertisement of fuel run cars are seen more than hybrid cars, when also prove that car manufacturers do not focus on proper promotional framework for these cars (Frain, 1999). Theory of Social Status: Cars are strongly associated with social status of person. Customers purchase cars in order to show-off their status among their friends, family, professional circle, etc. If hybrid cars can be established as status symbol among high class, and middle class customers, then customers who are regarded as followers will automatically prefer hybrid cars in order to make a place in the social circle (Kotler, Bowen, and Markens, 2008). 2.6 Retail Marketing Mix The elements of marketing mix play an important role in case of hybrid class because it involves product, price, place and promotion of the product. Product The product is the hybrid cars, which has got its hybrid name because it comprises of a combination of mechanism, which assist in running the vehicle using eco-friendly means for transportation, such as gas or battery. They look like normal cars, but the only difference lies in their technology through which they are run. It is obvious that the environmental impacts of hybrid cars are positive because they do not use fuel which emits greenhouse gases (Kubas, 2011). Price According to Forbes, an average model of hybrid car cost around $5,243, which offers fuel efficiency of $3,583. It was found that the owners of hybrid cars save more on fuel than normal cars. It has been observed that due to the price of gasoline compared to fuel which keeping on increasing many times in a year is less, which reduces the total operating cost of hybrid cars. This indicates that buying a hybrid car might be sometimes costly, but in long run it saves fuel and saves cost (Mouton, 2011). Place The location chosen for this research study is UK. This research study would solely focus on the hybrid car market of UK, and a probability of development in the next five years. UK is one of the major markets of automobile manufacturers around the world. The major players in the automobile segment are from UK, which makes it the hub of automotive innovation. This is the reason why UK automobile market has been chosen to project the developments of hybrid cars in the next five years (McCoy, 2009). Promotion Hybrid cars are not only a product but an initiative to reduce the pressure of pollution, which is leading to global warming. It should be promoted by the car companies in the way normal fuel cars are promoted and launched. It would be even better if the government of the country promote hybrid cars than fuel cars to save fuel, and reduce pollution, and emission of harmful gases. Apart from this media vehicle such as newspaper, magazines, and television are generally used to promote products like cars. Auto exhibition, which attract lots of car buyers are significant places of promotion of hybrid cars (Mohr, Sengupta, and Slater, 2010). Chapter III: METHODOLOGY 3.1 Research Method The objective of this study is to identify the future prospect of hybrid cars and its development in the next five years, specifically in UK. The objective of this research itself states that qualitative research method would be the most suitable for conducting the study. Qualitative research method assist greatly in social research, where the issues are complex and straight-forward numerical data cannot be of any help (Lillis, 2008; Coldwell, and Herbst, 2004.). Qualitative method considers every facet of a research problem irrespective of the type of data. This is the reason why it can offer customised solutions for the research questions (McLeod, 2007). However quantitative research method is used to churn out solutions through statistics and numeric data, which sometime fail to fulfil the research objectives because firstly, it do not consider any information other than numerical data, and secondly, it do not consider any social information, which play significant role in marketing. In this case the future prospects of hybrid cars in UK, and developments would be analysed (Pannerselvam, 2004). 3.2 Data Collection Technique There are three techniques which are utilised by researchers to collect data, such as primary, secondary, and mixed. However, the technique of data collection is selected on the basis information required by the researcher to analyse solutions for the research question. If the researcher collects information on organisation, then secondary data would be the more useful and authentic because it is issued by the company. However, when it comes to gathering customer opinion on specific issue, then primary data is suitable because it assist in collecting real-time data (Saunders, Lewis, and Thornhil, 2009; Taylor, Sinha, and Ghoshal, 2006). For this research study primary data would be collected from the customers. The customers would be selected through random sampling technique. However, attention would be paid towards selection of respondents because the motive is involve different income groups, so such places would be visited to collect data, such as busy market place, shopping malls, or branded shops. Since these places are visited by people from different income background, it would be helpful to select respondents based on their income levels (Shaheen, n. d.). 3.3 Data Collection Instrument The instruments of data collection assist the researcher in gathering data, such as a questionnaire for a survey, or set of interview questions for focus group interview, etc. For collecting primary data for this study, questionnaire would be prepared consisting of open ended as well as close ended question, which will offer the respondents the liberty to provide information beyond the questions asked. More information acquired regarding hybrid cars and customers’ perception for the same, through questionnaire would make the study useful for the automobile manufacturers. The questionnaire would be distributed to 10 respondents, and it would be containing 7 questions apart from the personal information (Singh, and Bajpai, 2008). 3.4 Ethical Consideration This research study would be conducted by utilising primary data. This signifies that a primary data collection instrument would be used, which will include human subjects. The respondents would be informed and explained the objectives of conducting this research study. They would be also assured regarding the confidentiality of their personal information. Special attention would be paid that questions are prepared in such a manner, that it does not hurt the sentiments of the respondents (Somekh, and Lewin, 2004; Srivastava, and Rego, 2011). Chapter IV: RESULTS Data has been collected through the questionnaire, which has been designed in line with the research objective and the literature review of this study. The research data has been stated below on the basis of the questions mentioned in the questionnaire. Among the 10 respondents 2 of them were in the age group of 17-25, 4 of them were in 25-30 groups and 1 of them belonged to age group of 30-40 and 1 of them from 40-60. The income levels of 5 respondents are from £500 - £1000, 3 are from £1000 - £1500, and 2 are from £1500 - £2000. Findings from other questions are stated below: 9. Which Vehicle do you have? 4 respondents have 2 wheeler, while 6 of them have four wheeler vehicles. 10. Do you know about Hybrid Cars? 9 respondents said that they know about hybrid cars. Hybrid cars are uses alternative means of energy for functioning, and it is an eco-friendly concept. 1 of the respondent had no idea about hybrid cars. 11. According to you which characteristics can you associate with Hybrid Cars? 6 respondents said all the above, 2 of them said Gas and battery generated, and Costly, while 2 of them said hybrid cars are Small in size, and not sturdy. 12. Would you prefer a hybrid car than a fuel driven car? 4 respondents said no because fuel cars are less complex that hybrid cars as they know the technology. Moreover, service centres are also many places, unlike the hybrid cars. 5 of them said that they would want to have a fuel efficient car only if the price of hybrid cars is less. 1 of the respondents said yes and also added that he plans to buy one soon. 13. What according to you is the future of Hybrid cars? 3 said excellent because it is the future of automobile industry due to increasing level of global warming and vehicles in the country. 4 respondents are hopeful, 2 of them said not so convincing, while 1 respondent had no idea. 14. Why do you think hybrid cars are not so popular yet in comparison to fuel cars? 5 respondents said it is costly, and small and not so study. 3 respondents think they are costly, 2 are not interested because they have no information. 15. Will you prefer to buy a hybrid car in future? 4 respondents said yes because it will save fuel cost, 5 of them said that they might buy because fuel would become more costly, then they have to switch for such cars, while 1 respondent is not interested to buy hybrid car. Chapter V: ANALYSIS AND DISCUSSION It is necessary that the results derived are in line with the literature review and the research objective, so that the research questions are easily answered. The objective of this research was to identify the consumer behaviour and perception in relation to development of hybrid cars in the next 5 years in UK. It was found that almost all the customers possess vehicle, yet they have certain misconceptions about hybrid cars. They think hybrid cars are not sturdy and they are extremely costly. Though they know that hybrid cars are eco-friendly automotives, yet they do not trust hybrid cars for big investment. However, majority of the customers have shown their interest to possess a hybrid car for various reasons off course, in which the main reason is fuel cost. The perception of the customers indicates that the development of hybrid cars in UK automotive market is slow, but it is going in the right direction. Hybrid car was designed with the motive of saving fuel and fuel cost, which will lead to less pollution. One of the major demerits of the hybrid car companies that were found through this research was that customers are not well-informed. This is why they have less idea about the actual strength of hybrid cars. Chapter VI: CONCLUSION The research study was initiated with the aim of understanding the developments of hybrid cars in UK in the next five years. For carrying out the study primary data has been collected from customers through random sampling. The customers provided a somewhat position prospect for hybrid cars in future, but they revealed the weaknesses too, which is probably the result of poor promotional strategies of hybrid car companies. However, though customer feedback, it was clear that future of automotive industry is indeed the hybrid cars because fuel is the major driving force, which will push customers towards hybrid green cars. References Aaker, D. A., and Biel, A. L., 1993. Brand equity & advertising: Advertising's role in building strong brands. London: Routledge. AlShebil, S. A., 2007. Consumer perceptions of rebranding: The case of logo changes. Michigan: ProQuest. Atkielsk, A., 2001. Computer printing: Current and past technologies. [pdf]. Available at: [Accessed 5th December 2012]. Coldwell, D., and Herbst, F., 2004. Business research. Cape Town: Juta. Czinkota, M. R., and Ronkainen, I. A., 2007. 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New Delhi: Tata McGraw-Hill Education. Stone, A. M. and Desmond, J., 2007. Fundamentals of marketing. London: Taylor & Francis. Taylor, B., Sinha, G., and Ghoshal, T., 2006. Research methodology: A Guide for researchers in management and social sciences. New Delhi: PHI Learning Pvt. Ltd. Thomas, N., 2008. The strategy and tactics of pricing: A guide to growing more profitably. 4th ed. New Jersey: Pearson Education. Appendices Appendix: 1 Questionnaire for Research on Hybrid Cars and its Future Aim: To investigate the perception and preference of customers for hybrid cars and the prospect of its development in the next 5 years in UK. COMPANY PROFILE: 1. Name:_____________________________________________________ Age: 17-25 25-30 30-40 40-60 2. Country: ________________________________________________________________ 3. Tel: 5. E-mail: 6. Fax: 7. Profession: _________________________________________ 8. Income Level: £100 - £500 £500 - £1000 £1000 - £1500 £1500 - £2000 HYBRID CARS: 9. Which Vehicle do you have? Bicycle two-wheeler three-wheeler four-wheeler None 10. Do you know about Hybrid Cars? Yes No If Yes, What? ____________________________________________________________________ 11. According to you which characteristics can you associate with Hybrid Cars: Gas and battery generated Renewable energy sources used for operation Small in size, and not sturdy Costly All the above 12. Would you prefer a hybrid car than a fuel driven car? Yes No Why? ____________________________________________________________________________________________________________________________________________________________ 13. What according to you is the future of Hybrid cars? Excellent Good Hopeful Not so convincing Don’t Know 14. Why do you think hybrid cars are not so popular yet in comparison to fuel cars Costly Not so stylish Not sturdy Don’t have information Not interested 15. Will you prefer to buy a hybrid car in future? Yes No Why? ____________________________________________________________________________________________________________________________________________________________ THANK YOU FOR YOUR CO-OPERATION! Read More