Author(s)

Yuhao Chen ¹, Ali Khatibi ¹, Jacquline Tham ¹

Affiliation(s)

¹ Postgraduate Centre, Management and Science University, Off Persiaran Olahraga, Section 13, Shah Alam, 40100, Malaysia

Corresponding Author

Yuhao Chen

ABSTRACT

The target market for second-hand cars is complex and diverse, with different consumer needs and preferences. Existing marketing strategies are difficult to accurately target, which affects the effectiveness. Therefore, this article investigates the marketing situation and strategies of luxury second-hand cars in the Hangzhou area, and conducts in-depth analysis of the problems existing in their marketing, and proposes corresponding marketing strategy optimization suggestions. The study first conducts data crawling through trading websites such as Guazi Second hand Car, Renrenche, and Youxin Second hand Car to obtain experimental research data samples. Then, the study analyzes the sales volume, price and sales volume relationship, consumer reviews, purchase intention factors, and other data of luxury second-hand cars from different brands in Hangzhou. Factor analysis and structural equation modeling analysis indicate that price competitiveness (score 9.0) has the greatest impact on consumer purchase intention. However, the impact of consumer reviews on prices is 0.5, indicating that positive reviews can increase acceptance of prices. 

KEYWORDS

Hangzhou Luxury Car Sales; Consumer Willingness; Second Hand Car Market; Factor Analysis

CITE THIS PAPER

Yuhao Chen, Ali Khatibi, Jacquline Tham, Research on Marketing Strategies of Luxury Used Cars in Hangzhou Based on Consumers' Purchasing Intention. Population, Resources & Environmental Economics (2024) Vol. 5: 165-173. DOI: http://dx.doi.org/10.23977/pree.2024.050219.

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