A COMPARISON BETWEEN EUROPEAN AND MIDDLE EAST/MENA MARKET - CONSUMER BEHAVIOUR AND ATTITUDES FOR PURCHASE OF ELECTRIC AND HYBRID CARS
The automobile industry is one the highest grossing industries in the world. It has contributed significantly to the global economy. In the recent times, the environmental conscious customers are getting more inclined towards green and environmental friendly cars. This has accelerated the growth of electric and hybrids cars around the global. In order to carry out a detailed study on the usage of electric and hybrid cars, the researcher has considered the markets of Europe and Middle-East.
Through the study, it has been observed that the prevalence of these cars are felt in both the markets, the European markets have been more successful in adapting them. They are environmentally conscious and have a knack for saving. Hence, these fuel efficient and low emissions cars are preferred by them. On the other hand, the abundant oil refineries and motivation to conform to the set beliefs and values motivate the Middle-East people to purchase large luxury cars.
In both the countries, governments have taken the initiative of providing various financial and environmental benefits to influence the customers. Moreover, the manufacturers are continuously developing on the technologies in order to provide the customers with the best experience. However, lack of adequate infrastructural facilities relating to electric vehicles and charging stations have adversely affected its sale. It is important for the companies to develop the features and aesthetics of the cars in order to generate a stronger consumer base.
Also Read: Consumer Behaviour and Attitudes For Purchase Of Electric And Hybrid Cars
Objective linking
Objective 1: To identify the benefits of electric and hybrid cars that will influence consumer purchase behaviour in the European and Middle East/MENA markets
The researcher here analyses the benefits of electric and hybrid cars that will influence customers in both European and Middle-East Market. For analyzing this objective the researcher has linked it with qualitative points 3 and 4 of secondary data sources.
The researcher has observed that electric and hybrid cars not only reduce environmental degradation, it has also saved money, time and hassles of the owner. Moreover Government incentives and subsidies have added to the benefits. The technology of the cars are continuously been innovated in order to enhance the performance and efficiency of the car. However, both the European and Middle-East market have differed in its adaptability of electric cars. The purchase decision of European customers is based on their self-esteem needs. They feel their image will enhance if they own an environment friendly car. This will make them responsible citizens and enhance their reputation. Henceforth, they are more inclined towards purchasing these cars.
On the other hand, the customers of Middle East likes to stay confirm to the principles and norms of their group. Their decision is based on affiliation needs. Hence, they like to buy luxury cars and are conservative in taking risks. Therefore, it can be concluded that the researcher has been able to justify this objective.
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Objective 2: To analyse the consumer perception towards purchasing electric car in the European and Middle East/MENA markets
The researcher here analyses the customer perception towards electric and hybrid cars in both European and Middle-East Market. For analyzing this objective the researcher has linked it with qualitative points 1 and 2 of secondary data sources.
On the basis of economic dimension, both the European and Middle-East customers tend to purchase the car as it economical and cost-effective in regard of fuel usage. On the other hand, psychological dimension is prevalent in both the markets. However, Middle-East customers are inclined towards purchasing luxury cars with their increase income. While, European consumers are more concerned with environmental degradation and hence, indulge in buying electric cars. Lastly, based on social and cultural dimensions, both Europeans and Middle-East emphasize on maintaining a style statement. Middle East customers believe that owing expensive cars will help them to maintain image in the grope. Whereas Europeans feel owing eco-friendly cars will enhance their reputation. However, the researcher has failed to recognize the political factors that enhance the purchase of electric cars. Therefore, the researcher has failed to justify the objective.
Objective 3: To make a comparative analysis between the customer attitudes of European and Middle East/MENA market
The researcher here makes a comparative analysis between the customer attitudes of both European and Middle-East Market. For analyzing this objective the researcher has linked it with qualitative points 1, 2 and 3 of secondary data sources.
The researcher has observed that Middle-East customers are more conservative in outlook. Moreover the presence of abundant oil refineries motivates them to buy large luxury cars. They are less environmentally conscious and like to indulge in the petrol and diesel cars. Alternatively, the European customers are more motivated towards sustaining their environment. They like to purchase car that would emit less fuel and greenhouse gases. Thus, the researcher has been able to justify this objective.
Objective 4: To recommend possible strategies to enhance the features and infrastructure and reduce the price of the electric cars that will increase its sale
The researcher here recommends possible strategies that will enhance the feature and infrastructure and reduce the prices of electric and hybrid cars in both European and Middle-East Market. For analyzing this objective the researcher has linked it with qualitative points 5 and 6 of secondary data sources.
Lack of adequate infrastructural facilities, fluctuation in prices and highly expensive Li-Ion battery of the electric cars has adversely affected its sale in the European markets. On the other hand, Middle-East faces problem due to a decline in the crude oil prices. Moreover, the car does not support air conditioning for a long time as the battery gets exhausted. In order to enhance the profitability of the electric cars, greater number of charging stations needs to be developed. Moreover, infrastructural facilities like air conditioning, size of the car and battery needs to be enhanced. Therefore, the researcher has been able to justify this objective.
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3 Recommendations
Certain recommendations pointed out by the researcher are:
Better infrastructural facilities: In warn countries of Middle-East, better air conditioning is needed in order to increase its sale. Moreover, proper charging stations have to established both in Europe and Middle-East to increase the efficiency of the electric car
Control of Price fluctuations: It has been observed that the middle class people are more inclined towards purchasing electric car due to the fuel efficiency. However, high prices often de-motivate them to make the purchase. Hence, it is important to control the fluctuations.
Government subsidies: It is important for the Government to give more subsidies, incentives and tax exemptions in order to motivate customers.
4 Limitation of the research
In this study, the researcher has faced time limitation. Hence, the researcher was unable to cover various aspects. The present study focuses mainly on the customer behaviour and attitude. It failed to recognise the initiative taken by the Government of the countries in motivating the purchase of the electric cars.
5 Future scope of the study
The limitations form the basis for the future scope. Future studies can focus on the initiative taken by the Governments of Europe and Middle East in accelerating the growth of electric cars.
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Self Reflection Report
I have always been critical and intellectual towards my investigation and analysis. This research has been extremely helpful in gaining valuable insights on the present topic. I had to undertake a thorough review of the pre-existing data and literature. This information has helped to gather relevant knowledge and awareness about customer behaviors and attitude. This current study has helped to be inquisitive and critical in conducting any study. Throughout the study, I have continuously challenged myself to deeply dig into the various theories and concepts that have been employed in this research. Throughout the study, I have put extreme efforts in understanding the various concept and theories. It has helped me to develop my intuitive and logical skills towards judging any problems. It has enhanced my observation skills. This study has helped me to concentration not only on major issues but also the minor ones. I have realized it is important to pay attention to smaller problems and issues in order to deal with the bigger ones more efficiently and effectively.
However, in this study, I have faced certain limitations. The secondary data that I have collected often lack in consistency and reliability. The annual reports of the car companies vary from sources to sources. Hence, they fail to generate any comprehensive and reliable result. I have failed to identify causal relationship between customer behavior and purchase. Moreover, I have also faced problems due to the budgetary restrictions. As I was covering two different markets, it required a substantial amount of money. Moreover, I have faced problems due to time limitations. I was unable to focus on every aspect of the study. In the analysis part, I have found difficulty in accurately interpreting the qualitative questions and identifying the psychological underpinnings. Several controversies and inconsistencies in the data were not easy to interpret. Nevertheless, my analytical and investigative skills have helped me in overcoming many of these difficulties.
In the present study, I have used Interpretivism research philosophy in order to have been critically analyse and investigate the secondary data. This is because I have conducted the present study from an experience-near perspective. In other words, I have not relied on concepts that have already been determined in the prior studies. I have rather encountered these concepts in the ‘fields'. I have manly tried to focus on the marketing practices that have operating for a long time. At the same time, I have tried to show how these practices produce observable outcomes.
I have strictly followed the ethical considerations throughout the study. I have primarily focused on maintaining maximum objectivity and confidentiality. I have ensured that the data I have collected from various sources will not be disclosed in from of any third party. I have also emphasized on data protection. Throughout this study, I have tried to avoid all kinds of plagiarism or duplicity. The present study is conducted with complete integrity, honesty and openness. In addition to this, I have ensured the publication of the results of the study as soon as the study is over.
In this study, I have also closely followed the principles of Kolb's Learning Style. The notions of diverging, assimilating, converging and accommodating have been extremely useful in conducting this present work. Diverging has helped me to look things from different perspective. I have learned to be more sensitive and not stay restricted and conservative in my ideas. The notion of diverging helps to gather information and use one's own imagination to solve the problems. It has helped me to work in groups and teams, listen to the problems with an open mind and even receive relevant feedback for the study.
On the other hand, assimilating has helped me to develop a logical and concise approach to the study. It has helped me to understand that concepts and ideas are more important than people. The notion of assimilating encourages the understanding of wide-ranging information and organizing it in a clear and logical format.
Converging learning style has helped me to solve various problems and find relevant solutions to the practical issues. Through this style, I have been able to gain technical skills to solve any kinds of problems that might emerge in conducting my study. It has helped me to concentrate more on technical problems and tasks rather than on interpersonal and social issues. It has developed my technological and specialist abilities and motivated me to experiment with new ideas and concepts.
Lastly, accommodating has encouraged me to rely on my intuition rather than logic. There are various situations that cannot be analysed using pre-existing knowledge and theories. It is important for me to utilise my own practical experiences and intuition in solving them and coming up with relevant solutions. It has helped me to take up new challenges in order to conduct a study smoothly. It has motivated me to act on my ‘gut' instinct rather than basic logical analysis. Through the notion of accommodating, I am able together various kinds of information and then carry out my own analysis.
Through Kolb's learning style, I am able to gather various kinds of skill that has not only helped me in this present study. But it will surely help me in my future endeavors as well. This present study is extremely close to my heart. I have conducted this study with all my potential and zeal. I hope it would be acceptable to my professor. I would not have been able to complete this research work successfully if not for the support of my professors and friends. They have guided, monitored and assisted me throughout the work.
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FAQ: Consumer Perception
- Q: Are people interested in electric cars?
- Q: Do consumers know a lot about electric cars?
- Q: What are the main reasons people want to buy electric cars?
- Q: Are there other benefits to electric cars?
- Q: What are the biggest drawbacks of electric cars?
- Q: Are there any other reasons people hesitate to buy electric cars?
- Q: What factors are most important when considering an electric car?
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