Marketing. Compare how luxury car brands like BMW and Mercedes-Benz target their market compared to more affordable brands like Toyota and Honda. How do these strategies match the needs and preferences of consumers in different income groups?

Compare how luxury car brands like BMW and Mercedes-Benz target their market compared to more affordable brands like Toyota and Honda. How do these strategies match the needs and preferences of consumers in different income groups? 

For a new car purchase, discuss your decision-making process as a consumer. 

Instruction: First You need to research the companies mentioned above. Then, you must correctly put into practice the information you gained in Modules 4 & 5 about STP strategy and consumer buying process. You can use actual examples from the company or research reports or articles that address the topics. Based on that, prepare a report outlining potential segmentation and positioning strategies for these businesses.

Be sure to cite your references.  [ 30+ 10 points]

Formatting Guidelines:

– Write details with references (excluding introduction, body and conclusion).

– Type the report with 1.5 spaced using Times New Roman 12 font.

– Avoid quotes unless they have specific relevance to justify a conclusion. In most cases, quotes should be avoided as evidence or support.