The Importance of Understanding Different Consumer Markets in Business

Work in business car sales? It can be incredibly difficult to hit your targets and maximise profits each month and even the best salespeople have a dip in form from time to time. The best way to maximise profits and have a lucrative career in this field is to use all the tips, tricks and techniques to close deals. Another important, yet sometimes overlooked, aspect is to be fully aware of the different consumer markets out there – what works on one consumer will not work for another.

Consumer Markets

This means that you must be aware of the different markets and how to close deals for a range of consumers. Customers will have different requirements, budgets and tastes, so you should be aware of different groups and how you should approach selling in order to maximise profits and close deals. Preparation is the key to success in this industry, so read on for advice on different markets that you will encounter as a car salesman or saleswoman.

Young & Or New Motorists

Young drivers, or those that have only recently passed their test, are a key market. These consumers will be looking for their first vehicle, so they will be excited and likely to have many questions (they are also likely to have a parent or similar figure with them). Positivity is key with this group, but often they will be shopping for the cheapest cars on the lot and ones which do not cost much to insure and run. Always remain friendly yet confident when interacting with this market.

Professionals

Professionals tend to have done their homework and (typically) will be looking at slightly more expensive and stylish models. Although they know what they are looking for, they can be a tricky market to crack as they understand how the industry works and may look to bring the price down by haggling or comparing prices. This is why confidence is key with this market.

Families

Families tend to shop for large, reliable and safe vehicles. Knowing how to communicate to parents and considering their children is crucial for this market, so you must be able to put yourself in their shoes. Being friendly but also showing your expertise can put you in the driving seat for negotiating and picking the right car for their needs.

Pensioners

Older motorists may need advice in selecting the right vehicle for their needs, so you should always listen carefully and be friendly in your approach. Build a rapport and observe what the best car is for each individual customer, but if they have a particular car in mind and have done their research then always look over the vehicle with them.

Disability Access

It is vital that everyone working in car sales needs to be aware of those that require disability access/options and can cater to their needs. Specialists like Mobility Solutions have a wide range of wheelchair accessible vehicles (WAVs) that serve an important purpose. A sound working knowledge of this industry, the Motability Scheme and how the car’s work allows you to confidently help this market to find the right automobile for their particular needs. Thanks to the many excellent adaptations and technology in modern-day vehicles, there is an increasing number of motorists with a disability passing their test and joining the roads.

These are the main consumer markets to be aware of – as you can see, it is about adapting and connecting with each group. You must also always be confident, show your knowledge and listen to their particular needs. Being able to change your approach based on the customer allows you to connect with the consumer and maximise your sales, as well as make you an observant, thoughtful and personable salesperson.

Image: Burak Kebapci

 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.