A new product launch in a 1 higher income country and 1 lower or Essay

A new product launch in a 1 higher income country and 1 lower or middle income country-business - Essay Example An explanation of how each country was eliminated will be given in the report. Throughout the report many different sources have been used to collate the different types of data and external reading surrounding the different types of vehicles which are required for this report. Introduction 1.1 Product Description Montar Vehicles is a fleet of vehicles that will range from 2 door coupes to 4 door saloons, in terms of the vehicles itself it will be fitted with the latest technology to ensure both the driver and the passengers have a luxury traveling experience. Such technology for the driver would include rear and front camera, automatic aid reversing whilst the passenger are able to watch movies in surround sound whilst drinking their preferred beverage ‘ice cold’ from the drinks cooler provided. Executive options can be added for chauffeur driven styles like the hand stitched leather upholstery, wooden oak glazed interior, making it a direct competitor to the existing h igh end luxury car vehicles that are well established. The price range for these vehicles will be between ?100,000- ?350,000 depending on the car chosen, with the lower boundary competing with car brands Mercedes-Benz, BMW & Audi whilst the upper price boundaries will compete with the likes of Bentley, Maybach and Rolls Royce. 1.2 Target Group To appreciate the high-price, high-end range of Montar vehicles, the customer must have a certain sensibility and regard for finer things. The customer will typically belong to the affluent class of society and will have a taste for exclusive, expensive things. He will also understand that driving a certain vehicle bespeaks a lot about a person’s individuality, preferences and personality. The Montar 2 door coupe and the 4 door saloon is a vehicle that would be aimed at the high net worth individuals that have the purchasing power to enjoy such vehicle. The coupe is aimed at the younger members of the affluent class, aged between 18 and 35, who are looking for the classier driving experience. They have great-looking possessions, successful and happening lives and similar social circles to move in. On the other hand, the more prudent saloon is seen more as a chauffeur driven vehicle for the extremely wealthy, senior level professionals and businessmen. The classy exterior would appease their aesthetic sensibilities and the comfortable, first-class interior would allow the passengers to travel in comfort. The target audience comprises of individuals who already own chauffeur driven vehicles like the Rolls Royce Phantom. The positioning will be such that owning a Montar will display the individual’s financial standing and robustness. Along the same lines, industrialists, media moguls and celebrities would be another important target audience of the Montar due to the fact that many people would become aware of the vehicle through the publicity. Domestic and Global Market for Luxury Vehicles UK Market for Luxury Vehicles. With the onset of the global recession in 2007, almost every industry was faced with tighter cash flows and faltering sales figures. The auto industry saw very similar circumstances with key consumers having tighter finances and reluctance to put large amounts of money into buying luxury vehicles. This trend continued well through the next two years. There was a staggering 59% fall in sales from the previous year, which stressed the direness of the recession. Fig: