Identification of Key Factors Contributing to Build a Lifestyle Brand in Sri Lanka

The purpose of this research is to identify the lifestyles and relevant needs of owners of high end automobiles from European manufacturers. This knowledge is then used to deduce the key factors that contribute towards building a lifestyle brand in the Sri Lankan automotive industry. The study is undertaken at Merc-Stop Automotive Solutions, a prominent automotive after-sales service provider located in Colombo, Sri Lanka. Due to non-existence of lifestyle automobile brands catering to the selected consumer group, Merc-Stop aims to create a paradigm shift by restructuring the brand to better fit customer requirements. The sample for the research was taken from existing customers of Merc-Stop, and the research is done through qualitative interviews. Stratified sampling was used initially to group the customers brand-wise and Simple Random Sampling was carried out in selecting individual interviewees. Data analysis is conducted through qualitative analysis.The research uncovered that while lifestyle brands are easily identifiable across multiple industries, it is less so in the automotive sector largely due to low consumer awareness. Key factors such as Brand Equity, Consumer Perception, Service Quality, Rewards were found to contribute in building a strong relationship with consumer which leads to establishment as a lifestyle brand.