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Question a Ire

Question a Ire

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Published by ukamaluddinmba

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Published by: ukamaluddinmba on Oct 02, 2010
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05/12/2014

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Title:
Factors influencing purchase of global brand with reference to white goods in velloreObjective:
Study of consumer behavior on purchase of global brand with reference to white goods
Definition:
White goods are the goods that are painted white or enameled white. These products werepreviously manufactured with a white enamel finish but are now coloredWhite goods do not include the entertainment appliances, such as, Televisions, Home cinema,Camcorders, CD, and DVD players. These products are included in the Brown goods category.
Needs:
Technology,Price,Service andBrand identity which inturn leads to prestigious issues
Limitations:
No brown goods among consumer durables
Questionaire:
How it differs from domestic one?What r all d option is provided to pay for d goods?What makes d difference in their service when compared to that of local?What makes consumer to buy other countries goods?Do Indian brands dont produce that image what mncs produce?Y consumer prefers mncs products rather than domesticwhat makes mncs to enter into d indian marketwhat r d drawbacks facing with d entry of mncs by domestic playersHow was d market before entry of mncswhat r d major companies currently operatingDo Indian brands doesnt produce same quality as that of global brand
KEY GROWTH DRIVERS FOR CONSUMERDURABLES
Rise in disposable income:
The demand for consumer electronics has been rising withthe increase in disposable income coupled with more and more consumers falling under thedouble income families. The growing Indian middle class is an attraction for companies whoare out there to woo them.
 
 Av 
ailability of newer
 v 
ariants of a product:
C
onsumers are spoilt for choice when itcomes to choosing products. Newer variants of a product will help a company in getting theattention of consumers who look for innovation in products.
Product pricing:
The consumer durables industry is highly price sensitive, making pricethe determining factor in increasing volumes, at least for lower range consumers. Formiddle and upper range consumers, it is the brand name, technology and product featuresthat are important.
 Av 
ailability of financing schemes:
 Availability of credit and the structure of the loandetermine the affordability of the product. Sale of a particular product is determined by thecost of credit as much as the flexibility of the scheme.
Rise in the share of organized retail:
Rise in organized retail will set the growth paceof the Indian consumer durables industry. According to a working paper released by theIndian
C
ouncil for Research on International Economic Relations (I
C
RIER), organizedretail which constituted a mere four percent of the retail sector in FY07 is likely to grow at45-50% per annum and quadruple its share in the total retail pie 16% by 2011-2012. Theshare will grow with bigger players entering the market.
Inno
 v 
ati
 v 
e ad
 v 
ertising and brand promotion:
Sales promotion measures such asdiscounts, free gifts and exchange offers help a company in distinguishing itself from others.
Festi
 v 
e season sales:
Demand for color TVs usually pick up during the festive seasons. Asa result most companies come out with offers during this period to cash in on the festivemood. This period will continue to be the growth driver for consumer durable companies.
CHANGING ATTITUDES OF TODAYSCUSTOMERS
Today customer likes to indulge in buying spree. No more the customers buy only to fulfilltheir basic needs and emphasise on savings itself.
 V 
alue sensiti
 v 
e:
Indian consumers have become value sensitive and are not much pricesensitive as was the case earlier. If they feel that a particular product offers them more valueand its price is high, even then they are willing to buy the product.
Culture , tradition and
 v 
alues:
The Indian consumers strictly follow their culture,tradition and values, as a result of which foreign companies were forced to give an Indiantouch to them in order to succeed in India. McDonalds, MTV, Pepsi, Star TV,
C
oca
C
ola
 
India and many more had to Indianise themselves to flourish in India. Karva
C
hauth iscelebrated with more zeal and enthusiasm than the Valentine Day.
Features:
The Indian consumer of today gives preference to features of a product ratherthan its brand name. The trend that higher segment consumers only buy the top brands hasalso come to an end.
Shift in preference:
Even after liberalization Indian companies and brands are doing very well. It is clearly evident from the fact that despite many foreign brands being sold inIndia, Raymond is still India¶s largest textile company and Haldiram is doing well despitethe presence of McDonalds and Pizza Hut. The consumers today are not confined to a single brand and prefer change rather than sticking to the same brand. Not often do we see any home with cars of the same brand or household products of the same brand. The use of credit card for shopping is a new emerging trend in India. Also consumers are availingcredit or loan from banks and other financial institutions to fulfill their needs and wants.
Better ser
 v 
ices and
 A 
mbience:
The Indian consumers are spending thick and fast onpremium and luxury products. The Indian consumers have shown another major change intheir buying behavior. They just don¶t want availability of products, they also want betterexperience, services and ambience. This has led to the growth of shopping malls whereshopping, entertainment and better facilities are all available under one roof. To a greatextent the presence of heavy weight such as the pantaloons, big bazaar, croma , nilgiris etchas given a huge fillip to the growing market by not only selling products but also theexperience. The Indian consumer are much more inclined to the organized sector.
Reduced prices:
The rural Indian consumers are also showing signs of change. They haveall the modern amenities at their home and their standard of living is fast improving. Therural households have earned huge money due to price rise in real estate. They are alsoshifting towards industrial and services sector, hence their purchasing power is increasing.It is reflected in their living standard and possession of all electronic gadgets and luxury cars. There is a stiff competition in the Indian market today and it has become a buyer¶smarket from seller¶s market.
C
ustomers are the ultimate beneficiary of the fiercecompetition in the market.
C
ompetition has reduced prices to a great extent and has forcedthe manufacturer to maintain product quality to sustain in the highly competitive market.Though in a small way internet and and telemarketing have also caught the attention of theIndian customers. Dell. Amazon .com, etc have carved a good niche for them in the sector.
Credit a
 v 
ailability:
The consumers today do not mind availing credit as when needed. Socredit availability has become a key factor for determination of a buying a good.
C
onsumersare also availing the information available on net through various forums and websites.

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