Review of earlier studies discloses the works and studies done by individual researchers and institutions help to establish further the need for the study. There are generally three components of a culture: beliefs, values, and customs. In this context, it is proposed to analyse the impact of price changes on brand loyalty income wise. Journal of Consumer Research, Vol. No : 5027 And Nadim Ahmed Khan Reg. I find that if adviser does not push them for having life insurance, number of people would be very less to buy life insurance. Marketing Implications Analysis: There lie many problems and implications when marketers find out different behaviors of consumers regarding their choice and purchases Richarme 2001.
With this, marketer can convey good brand awareness. It is responsible for marketers to analyze the main influences in each step so that appropriate actions can be taken in time. We see advertising practically everywhere, television, newspaper, buses. Three main perspectives of involvement are evident in extant literature; product-centered, subject-centered and response centered orientations Finn, 1983. Another 27 percent are in the age group of 31-40 years. Review of Literature To have an in depth understanding of Indian consumer, and to analyze the factors influencing his purchase decisions, one has to conduct studies in relation to his environment, his demographic factors, culture, and level of exposure. As they have uniformity in their designs for all retail outlets so it is very difficult for retailer to differentiate or competes with up coming rivals.
Characteristics of Indian consumer behavior The Indian consumers are noted for the high degree of value orientation. But if we talk about young generation, they does not care about the price. There exist many external and internal factors that influence their purchase behavior, and once marketers can identify these factors, they can easily target the right customers for their products. Thus, print advertisements have a vital role in convincing the consumers to buy a certain product. Cinthol, Mysore Sandal and Pears are the next preferred brands. A business also uses targeting to identify which products are best for a specific demographic.
Fluctuation of prices will have an impact on continuity of the same brand, i. Of the total insured 75% were from 21-45 age group and 25 % were from age group 46-60. Brand loyalty is also a major factor in shaping the customers opinions towards a particular store. Consumer behaviour is the process where emotional factors as well as mental factors are involved during customers purchasing decisions for goods and services Richarme 2001. Social group c Social i. Social factors can be classified into three classes which are reference groups, family, and social roles and statuses Kotler, 2000. As the product itself can have some characteristics that are not liked by consumers or it is not a good as compared to other brands available.
The brand is categorized in awareness sets. Purchase Decision: This is the step in which the consumer will actually buy our product. Usage Period of Present Brand, f. The answer to that question is it depends on the situation the and the customer and what relationship the customer may have already developed from the product. For example, Neil Armstrong self-actualized as the first person to reach the Moon.
If this essay isn't quite what you're looking for, why not order your own custom Management essay, dissertation or piece of coursework that answers your exact question? The study of a behavioral aspect of consumers is of great india for marketers and this knowledge is applied to find out the rural wants and needs. It is seen that 51 percent respondents have been using the same brand for above 4 years followed by 21 percent for below 1 year. There are scores of brands and an even greater number of variants making for a bewildering range. Endowment policyCombining risk cover with financial savings, endowment policies is the most popular policies in the world of life insurance. In our case, we are considering consumer behavior model. Not what you're looking for? As suggested by Sanden et al.
Not what you're looking for? Journal of Euromarketing, 14 3 , 59—82. This model can divided roughly into four fundamental parts- 1 stimulus input variables, 2 exogenous variables, 3 sequential output variables, and 4 the ¡§internal state of buyer. More recently, huge amount of money has been spent on advertising throughout the world. Senior Lecturer, Department of Marketing, Faculty of Management Sciences, University of Port Harcourt, Port Harcourt, Rivers State, Nigeria. A comparison study on these two brands on their cosmetic as how. In the case of a high involvement purchase, let's consider my brand new car while in the case of the low involvement product, we will look at my recently bought light bulb.
For this purpose, Respondent consumers are asked to rate the performance of their present brand of toilet soap along some parameters such as price, packaging, durability, color, fragrance, freshness, quality, convenience of usage etc. At the same time, 31 percent belong to low income group Below Rs. Once, these stimuli are identified, then the company can develop marketing strategies according to support their product with the characteristics of consumer expectations Kotler 2007. The Nature and Role of Affect in Consumer Behavior. It is seen that at 10 percent price increase, majority of the respondents across all income levels opted for continuing with the same level of consumption. First, there are the internal characteristics: psychological and personal. In this instance, the gifts are for Chinese New Year occasion.