Conducting price sensitivity research based on consumer behavior

MIRIM Consultants LLC is presently engaged in commissioned research for “Toyota Sales Mongolia” LLC, centering on a “Price Sensitivity Survey based on Customer Behavior” within the mid-size SUV car users between November 27,2023, to January 27, 2024.

The objective of this research is to elucidate brand awareness and understanding, car purchasing behavior, desired car features, buying patterns, customer loyalty, and consumer perceptions of car market prices among those capable of purchasing cars.In executing the price sensitivity study rooted in consumer behavior, a blend of quantitative and qualitative research methods was employed. The study

involved interviews with 300 individuals owning 31 models of passenger cars across 8 brands, including Toyota, Lexus, various Chinese car brands, Nissan, Ford, Suzuki, Hyundai, and Mazda. Information was gathered through questionnaires, interviews conducted via telephone and online video, and the organization of 5 focus group discussions (FGD). Each focus group discussion included 5-6 participants, providing the client with the opportunity to observe the research process and pose questions to each participant.