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Essay / Research Paper Abstract
This 6 page paper looks at the new car market in the UK, the paper begins with an overview of the car market, then looks at the economy and the way it may influence new car purchases, the paper also considers market share, the level of competition, the role of research and development and the indicators for the future. The paper is written from the perspective of BMW Mini Cooper division and the way that they will need to compete. Industry wide information is provided. The bibliography cites 15 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEukcar1.rtf
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Unformatted sample text from the term paper:
have to consider these factors in order to market and develop the car. This requires an understanding it he market, the economic factors, the competition levels and the competitors, as
well as some consideration of the way in which the market is likely to develop. 1. Market Overview in UK The new car market in the UK has suffered
in the past, however, there is currently an optimism in the market (Matthey, 2003). In August 2003 there was the best month since 1999 when the system of car registration
numbers changed, with registration of a total of 89,338 new cars (Matthey, 2003). The market for 2003 overall appears to be one that is projected at being slightly down
on 2002, with 2.52 million car sales expected compared to 1.56 million in 2002 (Matthey, 2003). Therefore, we have a market that is health, but also likely to be very
competitive with a fluctuating demand. The next aspect to consider is how this market is segments and the way demand in each semen s may shift. There is no
universally defined segmentation of this market, the best option is to used those defined by the composition commission which looked at the way in which cars were classified. If we
use these 9 classification, the Mini would fit in the supermini, however, these are figures form before the launch and as such are not included. The table below shows
the level of market share of each segment over the period between 1998 - 1999, this gives us an indication of patterns and trends. Table 1 Segment Market Share
in the New Car Market in the UK, 1994 - 1999 (Competition Commission, 2000) 1994 1995 1996 1997 1998 1999 Mini 1.0 0.9 0.8 0.7 1.1
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