WESTRAC Team Input FINAL.docx - Market Analysis of Automotive Parts Accessories Distributors in Belize City WESTRAC LTD Belize City Branch Prepared by

WESTRAC Team Input FINAL.docx - Market Analysis of...

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Market Analysis of Automotive Parts & Accessories Distributors in Belize City WESTRAC LTD Belize City Branch Prepared by: Jelisa Bailey Jasmin Hernandez Katherine Maradiaga Mayra Pech Alfredo Santos Submitted to: Mr. Sydney Campbell ECON 4015 University of Belize Faculty of Management & Social Sciences November 24th, 2016
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Table of Contents I. Introduction i II. Company Overview 1 III. Determinants of Demand : 2 i. The price of goods ii. Price of related goods iii. Income of buyers iv. Taste or preference of consumers v. Consumer expectations vi. Population of buyers in market IV. Determinants of Supply: i. Input Prices ii. Technology or Government Regulations iii. Number of Firms iv. Taxes v. Producer expectations V. Determinants of Price Elasticity of Demand i. Nature of the Commodity ii. Extent of Use iii. Availability of Substitutes iv. Income Level v. Proportion of Income spend on Commodity vi. Urgency of Demand vii. Durability of a Commodity viii. Recurrence of Demand ix. Time VI. Determinants of Price Elasticity of Supply i. Nature of the Commodity ii. Time Period iii. Scale of Production iv. Size of the firms and number of products v. Natural Factors vi. Nature of Production
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VII. Market Structure i. Firms Competing in the Industry ii. Market Concentration VIII. Methodology IX. Conclusion X. Recommendations XI. Reference XII. Appendix Introduction Population in Belize City is rapidly expanding and with it the need for transportation. The majority of Belize City residents would rely on public transportation for their daily commute to work and school. Public transportation operators are finding it difficult to meet increased demand in routes for commuters. This has caused major inconvenience to commuters as uncertainty of bus schedule does not allow them to properly plan to for their work day. This could be considered one of the main contributing factors that have led families to purchase private vehicles for easy commute to and from work. The increase in privately owned transportation has increased the demand of automotive parts as more vehicles need to be repaired and serviced on a regular basis. This has led to an increase in the demand of automotive parts in Belize City. Companies in the automobile parts distribution industry in Belize City operate establishments that supply consumers with needed auto parts, lubricants and auto accessories. In Belize City major distributors include Belize Diesel & Equipment Co, Belize Estate Company, Belize Traders Ltd., Diaz Santos & Sons Ltd., Joy Ride, Mendoza’s Automotive and Electrical Supplies, Mike’s Auto Parts, NAPA Auto Parts and Westrac Ltd.
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A survey was conducted with consumers of auto parts distributors who attend classes at the Faculty of Education and Arts, University of Belize, Belize City and compiled results indicated Westrac Ltd. was the most popular choice. Hence this study will be providing insight into an auto parts distributor that is preferred by our local community. In this case we have decided on Westrac Ltd. It will analyze products and services provided and will also analyze the
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