The Ford Mustang has been a popular car amongst consumers for decades, making it one of the most iconic American cars. The Mustang’s lasting popularity can be attributed to a variety of demographic, psychological and social factors that influence consumer behavior towards the car.
Demographically speaking, gender is an important factor in determining consumer behavior towards the Ford Mustang. Men are more likely than women to purchase Mustangs (McCall & Perkins, 2020). This may be due to traditional gender roles that associate automobiles with male interests, as well as marketing campaigns from Ford targeting primarily males. Similarly, age is another important demographic factor when considering consumer behavior towards the Mustang. Younger generations tend to prefer sportier cars such as convertibles or coupes over sedans (McCartney et al., 2014), making them more likely purchasers of Mustangs than older generations who tend to prefer more practical vehicles like minivans and SUVs. Lastly, income level also plays a role in whether consumers will buy a Mustang or not; those with higher incomes are typically able to afford sportier cars while those with lower incomes may opt for cheaper options (Kumar et al., 2017).
Identify the demographic, psychological, and social factors that influence consumer behavior towards purchasing Ford Mustang
Psychologically speaking, there are numerous factors influencing people’s decisions when it comes to buying cars such as the Mustang. People’s desire for recognition and status can drive them toward purchasing luxury items like Mustangs (Becker & Wiedenmann-Allanach 2016). Additionally, people’s need for self-expression leads many individuals towards sports cars that allow them demonstrate their personality (Fornell & Larcker 1983). Further research has shown that people who have achieved greater success in life are drawn toward buying luxury products like exotic sports cars because they feel it helps them solidify their reputation and success (Lahoti et al., 2015).
Finally on the social side of things there are several ways in which societal norms can shape individual attitudes toward sports cars like the Mustang. For instance if someone lives in an area where having flashy belongings is seen as desirable then they will be more likely inclined to buy a vehicle such as this one compared to someone living elsewhere where conservative values reign supreme (Kallenberg & Klimmt 2012). Furthermore media portrayal often influences how people perceive certain objects; sports/luxury cars being featured prominently on TV or movies makes viewers become enamored with these types of vehicles leading some individuals wanting to own one themselves even if they cannot necessarily afford it at first glance(Kim et al., 2018).
In conclusion demography combined with psychology and society all play key roles in shaping our attitudes towards purchasing certain items including luxury vehicles such as the Ford Mustang. Manufacturers understand this concept well which is why targeted advertising often succeeds – reaching different demographics based on lifestyle preferences instead of relying merely on economic indicators . Understanding non-economic aspects associated with consumption opens up a new range of possibilities allowing businesses opportunities never before imagined possible thus driving sales figures significantly higher..