Market Structure Analysis of Automobile Market in U.S.A (Market Structure Analysis of Automobile Market in U.S.A)

서지정보

· 발행기관 : 한국마케팅과학회
· 수록지 정보 : Journal of Global Scholars of Marketing Science(마케팅과학연구) / 18권 / 1호 / 141 ~ 156페이지
· 저자명 : 최인혜, 이서구, 이성근

초록

Market structure analysis is a very useful tool to analyze the competition boundary of
the brand or the company. But most of the studies in market structure analysis, the
concern lies in nondurable goods such as candies, soft drink and etc. because of the their
availability of the data. In the field of durable goods, the limitation of the data availability
and the repurchase time period constrain the study. In the analysis of the automobile
market, those of views might be more persuasive.
The purpose of this study is to analyze the structure of automobile market based on
some idea suggested by prior studies. Usually the buyers of the automobile tend to buy
upper tier when they buy in the next time. That kind of behavior make it impossible to
analyze the structure of automobile market under the level of automobile model. For that
reason I tried to analyze the market structure in the brand or company level.
In this study, consideration data was used for market structure analysis. The reasons
why we used the consideration data are summarized as following. Firstly, as the
repurchase time cycle is too long, brand switching data which is used for the market
analysis of nondurable good is not avaliable. Secondly, as we mentioned, the buyers of
the automobile tend to buy upper tier when they buy in the next time.
We used survey data collected in the U.S.A. market in the year of 2005 through
questionaire. The sample size was 8,291. The number of brand analyzed in this study
was 9 among 37 which was being sold in U.S.A. market. Their market share was around
50%. The brands considered were BMW, Chevrolet, Chrysler, Dodge, Ford, Honda,
Mercedes, and Toyota.  ratio was derived from frequency of the consideration set.
Actually the frequency is different from the brand switch concept. In this study to
compute the  ratio, the frequency of the consideration set was used like a frequency of brand switch for convenience.
The study can be divided into 2 steps. The first step is to build hypothetical market
structures. The second step is to choose the best structure based on the hypothetical
market structures, Usually logit analysis is used for the choice best structure.
In this study we built 3 hypothetical market structure. They are type-cost, cost-type,
and unstructured. We classified the automobile into 5 types, sedan, SUV(Sport Utility
Vehicle), Pickup, Mini Van, and Full-size Van. As for purchasing cost, we classified it 2
groups based on the median value. The median value was $28,800.
To decide best structure among them, maximum likelihood test was used. Resulting
from market structure analysis, we find that the automobile market of USA is
hierarchically structured in the form of 'automobile type - purchasing cost'. That is,
result showed that automobile buyers considered function or usage first and purchasing
cost next.
This study has some limitations in the analysis level and variable selection. First, in
this study only type of the automobile and purchasing cost were as attributes considered
for purchase. Considering other attributes is very needful. Because of the attributes
considered, only 3 hypothetical structure could be analyzed. Second, due to the data,
brand level analysis was tried. But model level analysis would be better because
automobile buyers consider model not brand. To conduct model level study more cases
should be obtained. That is for acquiring the better practical meaning, brand level
analysis should be conducted when we consider the actual competition which occurred in
the real market. Third, the variable selection for building nested logit model was very
limited to some avaliable data. In spite of those limitations, the importance of this study
lies in the trial of market structure analysis of durable good.

영어초록

Market structure analysis is a very useful tool to analyze the competition boundary of
the brand or the company. But most of the studies in market structure analysis, the
concern lies in nondurable goods such as candies, soft drink and etc. because of the their
availability of the data. In the field of durable goods, the limitation of the data availability
and the repurchase time period constrain the study. In the analysis of the automobile
market, those of views might be more persuasive.
The purpose of this study is to analyze the structure of automobile market based on
some idea suggested by prior studies. Usually the buyers of the automobile tend to buy
upper tier when they buy in the next time. That kind of behavior make it impossible to
analyze the structure of automobile market under the level of automobile model. For that
reason I tried to analyze the market structure in the brand or company level.
In this study, consideration data was used for market structure analysis. The reasons
why we used the consideration data are summarized as following. Firstly, as the
repurchase time cycle is too long, brand switching data which is used for the market
analysis of nondurable good is not avaliable. Secondly, as we mentioned, the buyers of
the automobile tend to buy upper tier when they buy in the next time.
We used survey data collected in the U.S.A. market in the year of 2005 through
questionaire. The sample size was 8,291. The number of brand analyzed in this study
was 9 among 37 which was being sold in U.S.A. market. Their market share was around
50%. The brands considered were BMW, Chevrolet, Chrysler, Dodge, Ford, Honda,
Mercedes, and Toyota.  ratio was derived from frequency of the consideration set.
Actually the frequency is different from the brand switch concept. In this study to
compute the  ratio, the frequency of the consideration set was used like a frequency of brand switch for convenience.
The study can be divided into 2 steps. The first step is to build hypothetical market
structures. The second step is to choose the best structure based on the hypothetical
market structures, Usually logit analysis is used for the choice best structure.
In this study we built 3 hypothetical market structure. They are type-cost, cost-type,
and unstructured. We classified the automobile into 5 types, sedan, SUV(Sport Utility
Vehicle), Pickup, Mini Van, and Full-size Van. As for purchasing cost, we classified it 2
groups based on the median value. The median value was $28,800.
To decide best structure among them, maximum likelihood test was used. Resulting
from market structure analysis, we find that the automobile market of USA is
hierarchically structured in the form of 'automobile type - purchasing cost'. That is,
result showed that automobile buyers considered function or usage first and purchasing
cost next.
This study has some limitations in the analysis level and variable selection. First, in
this study only type of the automobile and purchasing cost were as attributes considered
for purchase. Considering other attributes is very needful. Because of the attributes
considered, only 3 hypothetical structure could be analyzed. Second, due to the data,
brand level analysis was tried. But model level analysis would be better because
automobile buyers consider model not brand. To conduct model level study more cases
should be obtained. That is for acquiring the better practical meaning, brand level
analysis should be conducted when we consider the actual competition which occurred in
the real market. Third, the variable selection for building nested logit model was very
limited to some avaliable data. In spite of those limitations, the importance of this study
lies in the trial of market structure analysis of durable good.

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