the automobile industry because some carmakers prefer to manufacture their components. Having reduced production costs by purchasing less expensive car components, the company will find new markets where it can sell high volumes of cars at competitive market prices. Contents: brand loyalty 1, contents: 2, introduction 3, the concept and definition of Brand. Carmakers with stronger brand loyalties also enjoy more freedom in making price changes than manufacturers (new entrants) without. Threats of entry are very low in the automaker industry (Uzwyshyn, 2012). A new entrant, therefore, must have a high capital investment to ensure that they manufacture cars with unique designs, comfort, safety features, and sophisticated electronic functions. Despite the industry having more than 50 players, only four companies produced more than 5 million vehicles each in 2013 (oica, 2013). The big five carmakers pose intense competition among themselves, thus, reducing the profitability of the industry. However, the rivalry is likely to go higher because of the effects of globalization.
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Car manufacturers must use modern technology in making engines to ensure their cars are fuel-efficient. The car industry is oligopolistic with 10 global manufacturers controlling over 70 percent of the global car market according to 2013 statistics (oica, 2013). The internal rivalry between competitors is also moderate because the industry attracts strong customer loyalty. An oligopolistic market implies that the industry is dominated by a small number of carmakers. Washington, DC: Flat Word Education, Inc. The industry only provides room for existing companies by restricting the number of new entrants. Brand Building Activities 6, brand Loyalty 7, the definition of Brand Loyalty 7 The concept of Brand Loyalty 10 Factors of brand loyalty 20 and awareness 21 rceived quality 21 and personality 22 and identity 22 Brand equity. According to Baroto, Abdullah, and Wan (2012 cost leadership strategy helps companies to create a competitive advantage over their competitors. The big five carmakers in the global industry are Toyota, Ford, General Motors, Hyundai, and Volkswagen. Univerzitearajevu, ekonomski fakultearajevu pic, brand loyalty, gRAD paper.
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